Minimally Invasive Medical Robotics Market

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.

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. 

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.

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.

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. 

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.

• 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

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.

• 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.