Medical Robots Market

Asian Countries (China, Japan, Thailand, and South Korea) Serve as New Revenue Pockets for the Medical Robotic Systems Market

The global medical device industry has experienced substantial growth in the past decade, fueled by changes in patient demographics. The medical robotic systems market has also experienced exponential growth in recent years owing primarily to increased patient acceptance of robot-assisted minimally invasive procedures for the treatment of neurological, orthopedic, and gynecological disorders.

In the next five years, the growth in the medical robotic systems market is likely to be centered at China, Japan, South Korea, Thailand, Mexico, and Brazil. Furthermore, the medical robotics market in Brazil and Australia is also expected to grow during the forecast period as a result of increased healthcare spending, rising awareness among the medical community about medical robotics-assisted procedures, and the growth in usage of prosthetics.

In the Asian region, specifically in Japan, there are various factors that are responsible for creating a significant demand for medical robots. These include the ever-increasing aging population and foray of companies such as Toyota, Panasonic, and Kawasaki Heavy Industries. In 2013, Kawasaki Heavy Industries and Sysmex Corporation together established the Medicaroid Corporation in Kobe, to carry out market research with a view to develop, manufacture, and sell medical robots. In addition, Japan has the highest percentage of elderly people in the world. The rising population of elderly people is likely to increase the demand for rehabilitation robots owing to the subsequent increase in the incidences of strokes, joint diseases, vascular diseases, and other chronic conditions.

In China, an increasing number of healthcare investments, an increase in the number of trained orthopedic surgeons, and the healthcare legislation reforms are factors that are leading to the rise in the number of spinal surgeries. The Chinese government invested 12 trillion (~$1.89 trillion) between 2009 and 2011 for medical infrastructure development. These investments coupled with the increasing number of spinal surgeries are expected to increase the demand for orthopedic robotic surgical systems and rehabilitation robotics in China.

Similarly, government funding is expected to provide an impetus to the Thailand and Korean medical robotics industry. For instance, in April 2013, the minister of science and technology of Thailand allocated 2 billion Baht (~$70 million) over five years to develop and promote the medical robotics industry in the country. These investments are leading to the growth of medical robotics in Thailand. According to the director of the Thailand Center of Excellence for Life Sciences, the country imports medical robots worth 780 million Baht (~$25 million) every year. In South Korea, the Korea Institute for Robot Industry Advancement (KIRIA) is setting up a consortium with several private companies to promote Korean medical robots. KIRIA plans to facilitate the use of ROBODOC, a surgical robot developed by Korea-based Curexo Technology Corporation, in the global medical robotics industry.

India and Singapore are also witnessing an increase in demand for medical robots owing to the training centers in these countries. In India, Intel Capital invested heavily in the Sudhir Srivastava Robotic Surgery Centre Private Limited, to launch 10 robotic surgery centers in India and to promote the use of robotic platforms for tele-training, tele-mentoring, and tele-surgery. India also has many advanced robotic surgery training centers, such as the World Laparoscopy Hospital, the International Centre for Robotic Surgery, and the Medanta Vattikuti Institute of Robotic Surgeries. In Singapore, Hocoma AG set up a training center for Tan Tock Seng Hospital to cater to the Asia-Pacific region. These centers have trained a large pool of doctors who are now performing robotic surgeries. Owing to these factors, India and Singapore too form lucrative markets for companies manufacturing medical robots.

In addition, both public and private hospitals in Mexico have witnessed a rising demand for high-tech products. Telemedicine is also a major area in demand in Mexico. The RP7-i robot and its newer version, RP-VITA robot, have been extensively sold in different hospitals in Mexico. In addition, in 2010, Intuitive Surgicals started a plant in Mexicali for the manufacturing of electromechanical arms for robot-controlled surgery. The demand for high-tech robotic systems is thus likely to drive the market for medical robotics in Mexico.

Related Reports:

Medical Robots Market by Type (Surgical Robot, Rehabilitation Robotics, Telemedicine, Assistive Robots, Orthotics, Prosthetics, Radio Surgery, Exoskeleton) & Application (Orthopedic, Neurology, Laparoscopy)- Global Forecasts to 2018

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