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Minimally Invasive Medical Robotics Market

Minimally Invasive Medical Robotics Market

Minimally Invasive Medical Robotics Market Global Industry Assessment & Forecast

# Pages:

160

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0942

Segments Covered
  • By Product Rehabilitation Robots, Surgical Robots, Hospital and Pharmacy Robots, Non-invasive Radiosurgery Robots, Others
  • By Application Neurosurgery, Orthopedic, Laparoscopy, Gynaecology, Others
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 16.23 Billion
Revenue 2028Revenue 2028: 27.49 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 6.81
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Minimally Invasive Medical Robotics market was valued at USD 16.23 Billion in 2020 and is projected to reach USD 27.49 Billion by 2028, growing at a CAGR of 6.81% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 27.49 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 6.81%

Definition And Overview

Minimally invasive medical robotics focuses on robotics-assisted minimally invasive surgical procedures. This area received noteworthy attention from industry and researchers. The teleoperated features of robotic systems for minimally invasive surgery (MIS) is able to reduce or eliminate most of the drawbacks of conventional minimally invasive surgeries. Robotics-assisted MIS procedures are conducted primarily in the areas of urology, gynaecology and general surgery. The significant commercial and clinical success of this procedure has resulted in substantial research activity in recent years to reduce insensitivity, increase deftness, and provide additional features like image guidance and haptic feedback, increase portability, reduce size and cost, and address specific clinical procedures. The robotic MIS is therefore has shown rapid growth owing to new technological developments such as continuum robotics, sensing and actuation, smart materials, and haptics and teleoperation.


The global Minimally Invasive Medical Robotics market is segmented based on by Product, Application, Regions, and Countries. This report provides an analysis of the global Minimally Invasive Medical Robotics market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Minimally Invasive Medical Robotics industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 16.23 Billion 27.49 Billion

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose stringent lockdown measures during the primary stages. This led to numerous challenges owing to the supply chain. However, the market witnessed steady growth over the later stages as the governments lifted restrictions on construction activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The increasing technological developments in the field of medical industry is anticipated to augment the growth of the minimally invasive medical robotics market during the forecast period. The integration of advance technologies like AI in medical surgeries have resulted in precise operations with less pain. The application of Artificial intelligence in surgical robotics can determine various patterns inside surgical procedures to improve practices and control accuracy of surgical robots to submillimetre precision. Furthermore, AI is also being used to analyse scans and detect cancerous cases. Additionally, the laparoscopic video analysis of surgeries helps to identify missing or unexpected steps in real time. The advanced robots are constructed of flexible, soft, and deformable materials which provides greater flexibility and high response to touch, thus enhancing their greater intrinsic safety. Thus, the advancements in technologies are expected to contribute to the growth of the minimally invasive medical robotics market.

The rise in demand from emerging economies and increasing surgical procedures across the globe is expected to support the growth of the minimally invasive medical robotics market in the years to come. This is owing to the low regulatory barriers, growing patient population, increasing healthcare expenditure, and developments and enhancements in healthcare infrastructure.

The changing regulatory landscape in the medical device industry and high degree of market consolidation along with lack in surgeon’s knowledge and learning in robotic-assisted surgery may hamper the growth of the minimally invasive medical robotics market in the years to come.

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered GIVEN IMAGING, BOSTON SCIENTIFIC CORPORATION, ARTHROCARE CORPORATION, GE HEALTHCARE, INTUITIVE SURGICAL, ABBOTT LABORATORIES, ALPHATEC SPINE, APPLIED MEDICAL, BIOMET, HANSEN MEDICAL, COVIDIEN, CONMED CORPORATION.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Product Analysis Preview

Product Analysis: Preview

On the basis of Product, the market is segmented into Rehabilitation Robots, Surgical Robots, Hospital and Pharmacy Robots, Non-invasive Radiosurgery Robots, Others. Surgical Robots held the highest share in the global Minimally Invasive Medical Robotics market and is projected to witness the same trend during the forecast period. Companies in this sector are opting to advanced technologies in their supply chain to cater the end user requirements effectively.

Application Analysis: Preview

Based on Application, the market is segmented into Neurosurgery, Orthopedic, Laparoscopy, Gynaecology, Others. Neurosurgery accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Minimally Invasive Medical Robotics Market: Product Segment Analysis

    • Rehabilitation Robots
    • Surgical Robots
    • Hospital and Pharmacy Robots
    • Non-invasive Radiosurgery Robots
    • Others

Global Minimally Invasive Medical Robotics Market: Application Segment Analysis

    • Neurosurgery
    • Orthopedic
    • Laparoscopy
    • Gynaecology
    • Others

Regional Analysis Preview

Based on region, the global Minimally Invasive Medical Robotics market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. Developing economies in the Asia Pacific region such as China and India are expected to make notable contributions in the growth over the coming years. Thus, it is expected that the Minimally Invasive Medical Robotics market is anticipated to rise over the forecast timespan.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Minimally Invasive Medical Robotics Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Minimally Invasive Medical Robotics market are GIVEN IMAGING, BOSTON SCIENTIFIC CORPORATION, ARTHROCARE CORPORATION, GE HEALTHCARE, INTUITIVE SURGICAL, ABBOTT LABORATORIES, ALPHATEC SPINE, APPLIED MEDICAL, BIOMET, HANSEN MEDICAL, COVIDIEN, CONMED CORPORATION.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Global Minimally Invasive Medical Robotics Market: Key Highlights

  • The global Minimally Invasive Medical Robotics market was valued at USD 16.23 Billion in 2020
  • The global Minimally Invasive Medical Robotics Market is projected to reach USD 27.49 Billion by 2028
  • North America held the highest share of the Minimally Invasive Medical Robotics market in 2020
  • Some of the major companies operating in the Minimally Invasive Medical Robotics market are GIVEN IMAGING, BOSTON SCIENTIFIC CORPORATION, ARTHROCARE CORPORATION, GE HEALTHCARE, INTUITIVE SURGICAL, ABBOTT LABORATORIES, ALPHATEC SPINE, APPLIED MEDICAL, BIOMET, HANSEN MEDICAL, COVIDIEN, CONMED CORPORATION.

FAQ
Frequently Asked Question
  • The global Minimally Invasive Medical Robotics valued at 16.23 Billion in 2020 and is expected to reach 27.49 Billion in 2028 growing at a CAGR of 6.81%.

  • The prominent players in the market are GIVEN IMAGING, BOSTON SCIENTIFIC CORPORATION, ARTHROCARE CORPORATION, GE HEALTHCARE, INTUITIVE SURGICAL, ABBOTT LABORATORIES, ALPHATEC SPINE, APPLIED MEDICAL, BIOMET, HANSEN MEDICAL, COVIDIEN, CONMED CORPORATION..

  • The market is project to grow at a CAGR of 6.81% between 2021 and 2028.

  • The driving factors of the Minimally Invasive Medical Robotics include

    • The increasing technological developments in the field of medical industry is anticipated to augment the growth of the minimally invasive medical robotics market during the forecast period. The integration of advance technologies like AI in medical surgeries have resulted in precise operations with less pain. The application of Artificial intelligence in surgical robotics can determine various patterns inside surgical procedures to improve practices and control accuracy of surgical robots to submillimetre precision. Furthermore, AI is also being used to analyse scans and detect cancerous cases. Additionally, the laparoscopic video analysis of surgeries helps to identify missing or unexpected steps in real time. The advanced robots are constructed of flexible, soft, and deformable materials which provides greater flexibility and high response to touch, thus enhancing their greater intrinsic safety. Thus, the advancements in technologies are expected to contribute to the growth of the minimally invasive medical robotics market.
    • The rise in demand from emerging economies and increasing surgical procedures across the globe is expected to support the growth of the minimally invasive medical robotics market in the years to come. This is owing to the low regulatory barriers, growing patient population, increasing healthcare expenditure, and developments and enhancements in healthcare infrastructure.

  • North America was the leading regional segment of the Minimally Invasive Medical Robotics in 2020.