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The rising interest in medical robots in healthcare domain
for different purposes has prompted the industry to leverage the expertise of
players developing surgical robots and rehabilitation robots.
The global medical
robotics market size is estimated to grow from $ 10.1 billion in 2024 to $
31.3 billion by 2035, at a CAGR of 10.8% during the forecast period, till 2035.
Medical robots are medical devices that are programmed to
assist medical professionals in a variety of tasks, such as patient
interaction, patient welfare assessment, operating in hazardous and emergency
circumstances, data mining to enhance the efficiency of a pharmacy, and
disinfection of hospital rooms. As a result, these robots are being utilized in
healthcare for different purposes, including carrying out logistic tasks,
execute surgical procedures, support patient rehabilitation and provide care to
the patients via remote commands to the robot. It provides invaluable
assistance in activities that were once challenging for humans to undertake,
thereby, strengthening the healthcare system.
Nowadays, medical robots are well-known for their
contribution to minimally invasive or laparoscopic surgical processes. This can
be attributed to the fact that the conventional approach followed by the
surgeons to conduct invasive surgeries involves the usage of their hands and
wide range of surgical instruments. However, it involves the need to make
larger incision in the patient’s body resulting in heavy blood loss,
post-surgical scarring, increased risk of infection (even during the healing
period) and some other medical complications associated with surgeries that are
being conducted on different anatomical areas. The incorporation of surgical
robots in such interventional surgical procedures has led to circumvention of
the aforementioned challenges of conventional surgeries by performing
procedures through small incisions (even in hard-to-reach areas).
Applications of Medical Robots in Healthcare
The healthcare sector, worldwide, is exploring the potential
of robotics, particularly for minimally invasive surgeries, diagnostic and
rehabilitation purposes. It is worth
noting that during Covid-19 pandemic, several parts of the world (including
China, US, Mexico, India and some European countries) started leveraging robots
to spray disinfectants, hand sanitizer-dispensing robots, patrol robots (robots
for checking temperature of visitors in hospitals), robot as chefs, robots in
food service and preparation, robots for delivering groceries and ninja robots
(which can deliver essential items to those infected).
This has demonstrated some significant improvements in
healthcare system and contributed to the prevention of the spread of
coronavirus infection. Moreover, the use of robots in healthcare is rapidly
gaining traction due to their ability to overcome transportation barriers.
Hence, with the expanding use cases and continuous advancements in medical
robotics, the adoption of medical robots in healthcare is poised to transform
the way medical care is delivered, bringing about significant benefits for
patients, healthcare providers, and society as a whole.
The rising interest of stakeholders in this domain is
reflected by the increasing number of partnerships established in the recent
past; notably, the maximum number of deals were signed in 2021.
During our research, we came across several partnerships
that have been established by various stakeholders engaged in the surgical
robots domain, during the period 2019-2023. A steady growth in the partnership activity has been observed in recent
years; acquisitions have been the most prominent type of partnership model
adopted by surgical robot developers based in the US.
It is worth mentioning that eight deals were signed with
non-industry players in year 2023; examples include (in reverse chronological
order, product / technology utilization agreements) collaborations between
Wandercraft and Brazilian Health Authority (July 2023), Trexo Robotics and
Keystone Education Group (June 2023), and CYBERDYNE and Coopselios (May 2023).
During our research, we came across several partnerships
that have been established by various stakeholders engaged in the
rehabilitation robotics domain, during the period 2017-2023. With the growing
demand for rehabilitation robots amongst patients, several types of strategic
deals have been inked in this domain; since 2017, the majority (26%) of
partnerships signed were distribution agreements.
Most of the agreements (72%) were signed between players
based in different countries (international agreements). Majority of such
agreements inked by rehabilitation robot developers based in Asia-Pacific were
inked by players headquartered in China and Japan. Notable examples of such
deals include (in reverse chronological order) agreements between Fourier
Intelligence and MyndTec (May 2023), H-Robotics and Rehabmart (November 2022),
and Angel Robotics and Daehan Rehabilitation Hospital (August 2022).
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