Medical Robotics is a multidisciplinary field which focuses on developing electromechanical devices for clinical applications. It is a comparatively adolescent field as its application was first recorded in 1985 for a brain biopsy. At the same time, the goal of this field is to facilitate new medical techniques by providing the new potential to the physicians by assisting with surgical procedures. As per Renub Research new report titled Global Medical Robotics Market will be USD 39 Billion by 2027.
The driving forces towards this market are the advancement of new technology. The demand for minimally invasive surgery is on the rise due to its advantages associated with its procedures say reduced pain, faster recovery, and fewer cuts. As per our research in the year 2018, on a gynaecological study of laparoscopy hysterectomy, the conversion rate of the robotics platform was less than 5% than straight stick laparoscopy to open surgery was 25%.
There is a huge demand of medical robots in the North American region due to high per capita income on health expenditure, rising prevalence of chronic diseases, a large pool of people inclination towards the minimally invasive surgical procedure, and a large number of patients suffering from a neurological disorder in this region.
Intuitive Da Vinci surgical robots have a large installed base and company continually focuses on its R&D’s and introduces newer surgical robots into the market during the forecast period. In this report, we have covered the recent developments and sales of 5 companies, Auris Surgical Robotics, Inc. (Hansen Medical Inc.), iRobot Corporation, Accuray Incorporated, Intuitive Surgical Inc. and Medrobotics Corporation.
COVID-19 Impact Analysis
The COVID-19 pandemic has changed many industries and lives on a large scale, and the medical robotics industry is not an exception. As such, approximately 28 million surgeries were cancelled during the pandemic. Due to this situation, the decline in the surgical procedures has led to a decline in sales and revenues of medical robots market and companies.
Renub Research report titled “Medical Robotics Market, Global Forecast by Products (Surgical Robotic Systems [General Surgery, Gynecology, Urology, Orthopedic, Others], Rehabilitation Robotic Systems [Therapeutic Robots, Exoskeleton Robots, Assistive Robots, Other Rehabilitation Robots], Hospital & Pharmacy Robotic Systems [Noninvasive Radiosurgery Robotic Systems, Other Robotic Systems]), Application (Orthopedic, Laparoscopy, Neurosurgery, Pharmacy, Others), Region (North America, Europe, Asia-Pacific’s, Rest of the world), Company (Intuitive Surgical Inc., Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Accuray Incorporated, iRobot Corporation, Medrobotics Corporation)”. This study provides comprehensive insights on market trends, forecast, key growth drivers, challenges and Merger/acquisition, financial insights on given companies.
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