MEDICAL ROBOTS MARKET: OVERVIEW
The Global Medical Robots Market Size & Statistics was valued at USD 10.11 Billion in 2021. The market is projected to grow USD 22.89 Billion in 2030, at a CAGR of 14.4%.
Get more details on this report -
Medical robots are professional service, robots that are used within and outside of hospitals to improve the quality of patient care. The medical staff's burden is decreased, which frees up more time for providing direct patient care. Major operational procedures are also established, which boosts productivity and lowers the cost of investing in healthcare facilities. Because they allow surgeons to do less invasive treatments while manipulating surgical instruments or catheters inside the patient's body with greater dexterity, medical robots are a relatively recent development in the field of medicine. The most significant benefits of medical robots are that they increase the success of procedures and enable successful surgeries to be carried out more swiftly and precisely within predetermined parameters. Accurate patient monitoring, a reduced risk of infection, and other advantages are also provided by medical robots.
As a result of the outbreak, the market for medical robots will suffer. The outbreak has led to a temporary worldwide ban on elective surgery, which has led to cancellations of elective surgery. Researchers estimate that about 28 million procedures were delayed globally during the 12 weeks of the COVID-19 pandemic's peak impact in a document published by the CovidSurg Collaborative. Sales of medical robots have decreased as a result of the difficulty to make money from the sale of tools and accessories. According to Intuitive Surgical, there was an almost 20% decline in the quantity of daVinci surgical procedures carried out in the second quarter of 2020 compared to the second quarter of 2019. A continuation of the third-quarter fall is projected because COVID-19 cases are increasing around the globe.
MEDICAL ROBOTS MARKET: TREND
Growing Medical Device Automation Propel Market Growth
A boom in automated workflow in the medical sector is being supported by technologies that are AI, IoT, or cloud-based equipped. The inventive development of pharmaceutical and medical applications, supported by cutting-edge technology, is driving rising demand for robots in the healthcare sector. For instance, Intel will work with a number of tech companies and researchers to investigate the next wave of robotics technologies.
Global Medical Robots Market Report Coverage
|Market Size in 2021:||USD 10.11 Billion|
|Forecast Period:||2022 - 2030|
|Forecast Period 2022 - 2030 CAGR:||14.4%|
|2030 Value Projection:||USD 22.89 Billion|
|Historical Data for:||2021-2017|
|No. of Pages:||201|
|Tables, Charts & Figures:||103|
|Segments covered:||COVID-19 Impact Analysis Report, By Offering, By Application, By End-User, By Region.|
|Companies Covered:||Accuray Incorporated, ARxIUM, Asensus Surgical Inc., BD, Capsa Healthcare, Ekso Bionics, Hocoma, Intuitive Surgical, Medtronic, Omnicell, Inc., Smith & Nephew, Stryker, Zimmer Biomet, Others|
|Growth Drivers:||1) Growing Medical Device Automation Propel Market Growth. 2) Rising Number of Surgical Procedures Performed Drive Market Growth. 3) Growing Use of Surgical Robots in Developing Countries.|
|Pitfalls & Challenges:||1) High Cost Associated with Robotic Assisted Surgery Procedures Hamper Market Growth|
Get more details on this report -
MEDICAL ROBOTS MARKET: DRIVERS
Rising Number of Surgical Procedures Performed Drive Market Growth
The worldwide medical robot market is anticipated to expand as a result of increased surgical procedures and healthcare costs. These days, robots complement healthcare personnel and enhance patient care in addition to being used in operational contexts. A range of surgical procedures are increasingly using robotic surgery.
Growing Use of Surgical Robots in Developing Countries
A range of surgical procedures are increasingly using robotic surgery. The need for robotically assisted surgeries is rising globally as a result of the expanding use of surgical robots in poorer nations.
MEDICAL ROBOTS MARKET: RESTRAIN
High Cost Associated with Robotic Assisted Surgery Procedures Hamper Market Growth
The pricey robotic assisted surgery process is probably going to impede the expansion of the global market for medical robots. Robotic-assisted surgery, which is substantially more expensive than other minimally invasive techniques, does not improve the outcomes of surgery for kidney tumors and rectal malignancies. Concerns have also been expressed about the rapid spread of robotic surgery in areas where the evidence is scant. For instance, the cost of the most popular robotic system, the da Vinci system, is between USD 1.0 million and USD 3.0 million per unit, whereas the cost of the CyberKnife radiosurgery robotic system is from USD 4.2 to USD 5.2 million per unit.
The Global Medical Robots market is segmented by Offering, Application, End User, and Region. Based on the Offering, the market is categorized into Surgical Robots, Rehabilitation Robots, Telemedicine Robots, Pharma Robots, Medical Service Robots, and Others. Based on Application, the market is categorized into Cardiology, Neurology, Laparoscopic, Orthopedic, and Others. Based on End User, the market is categorized into Hospitals, Ambulatory Surgery Centers, Rehabilitation Centers, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global Medical Robots Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
Get more details on this report -
North America is anticipated to have the largest market share of the worldwide medical robots market for data monetization due to the country like the United States, many treatments have quickly adopted robotic surgery in particular. It has gradually replaced conventional laparoscopic surgery and is gaining popularity for procedures that call for open surgery, such prostatectomy. Aggressive marketing and hospital competition for the newest technologies have contributed to this. For instance, according to a National Library of Medicine report, the proportion of robotic surgeries rose from 1.8% to 15.1% between 2012 and 2018. However, Asia Pacific is anticipated to see the greatest growth rate throughout the projected period of the market due to consolidation in the hospital sector and a surge in the entry of private companies This is expected to increase regional demand for medical robots and increase spending on hospital infrastructure in emerging countries.
MEDICAL ROBOTS MARKET: KEY PLAYERS
- Accuray Incorporated
- Asensus Surgical Inc.
- Capsa Healthcare
- Ekso Bionics
- Intuitive Surgical
- Omnicell, Inc.
- Smith & Nephew
- Zimmer Biomet
MEDICAL ROBOTS MARKET: RECENT DEVELOPMENT
- In June 2022, Accuray Incorporated and Limbus AI Inc. joined forces to enhance Accuray's adaptive radiation solutions through the application of Limbus' state-of-the-art AI-driven technology.
- September 2020, Mako SmartRobotics achieved a key milestone as Stryker announced the installation of their 1,000th Mako System.
- In June 2020, Accuray Corporation introduced the CyberKnife® S7TM System, a cutting-edge tool with advanced precision, combining speed, and real-time artificial intelligence (AI)-driven motion tracking and synchronisation treatment delivery for all stereotactic radiosurgery in less time.
MEDICAL ROBOTS MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Medical Robots Market. The Global Medical Robots market is segmented by Offering, Application, End User, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Medical Robots Market.
Need help to buy this report?