Medical Robots Market

Market Leader - Medical Robots Market

The global medical robots market is expected to reach USD 12.7 billion by 2025 from an estimated USD 5.9 billion in 2020 at a CAGR of 16.5% during the forecast period. The key factors propelling the growth of this market are the advantages offered by robotic-assisted surgery and  robot-assisted training in rehabilitation therapy, technological advancements in robotic systems, improving reimbursement scenario, the increasing adoption of surgical robots, and the increase in funding for medical robot research. However, the high cost of robotic systems is a key factor limiting market growth in the coming years

Intuitive Surgical (US), Stryker Corporation (US), Accuray (US), Omnicell, Inc.(US), BD Rowa (US), Hocoma AG (Switzerland), Medtronic (Ireland), Smith & Nephew (UK), ARxIUM (Canada), are considered to be the leading players in the medical robots market.

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INTUTIVE SURGICAL (US)

In 2019, Intuitive Surgical (US) held the leading position in the medical robots market. The company is dominant player in the global medical robots market, accounting for an estimated share of 12–14% in 2019. Being one of the pioneers in the field of surgical robots, Intuitive Surgical has successfully established a brand of its own. Several FDA approvals of the company’s key products, such as the da Vinci X Surgical System and the launch of its Single-port Platform in 2018, have further augmented the company’s position in the surgical robots market. Continuous advancements in its robotic systems have also helped the firm maintain a strong leading position in this market. In 2019, more than 1 million procedures were performed worldwide using the da Vinci Surgical robot system. This system has an expansive installation base of around 5,764 systems on a global scale. Due to such high installed base and high number of procedures conducted using da Vinci surgical system, company is able to generate around 57% of its revenues from the sale of instrument and accessories which are a source of recurring revenues.

STRYKER CORPORATION (US)

In 2019, Stryker Corporation was the second-leading player in the medical robots market. Stryker is the market leader in the orthopedic robotic system market. The acquisition of MAKO Surgical Corporation in 2013 enabled the company to enter the medical robots market. The company’s surgical robots portfolio was further strengthened by the introduction of MAKO Total Hip and MAKO Partial Knee. In 2017, Stryker received FDA clearance to use the MAKO robotic surgery system for total hip replacement applications, which further helped strengthen the company’s position in the market. Stryker also has a significant installation base of its systems across the world. As of October 2020, 860 robots were installed, of which 700 were placed in the US.

ACCURAY (US)

In 2019, Accuray was the third leading player in the medical robots market. The company is the only company offering fully robotic system for the external beam radiation therapy. In 2020, Accuray’s position in the robotic radiosurgery field was further strengthened by the launch of the CyberKnife S7 System a next-generation CyberKnife platform with advanced precision, and real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery. Accuray has a strong presence globally and generates around 34% reveneus from Americas, 31% revenues from Europe, Middle East and Africa and 25% revenues from the APAC region.

Related Reports:

Medical Robots Market By Product & Service [Instrument & Accessories, Robotic Systems (Surgical Robots, Rehabilitation Robots)], Application (Laparoscopy, Radiation Therapy, Pharmacy),End User (Hospital, Ambulatory Surgery)-Global Forecast To 2025

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Report Code
MD 2257
RI Published ON
11/23/2020
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