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Global Medical Robots Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Product (Surgical Robots, Rehabilitation Robotic Systems, Non-Invasive Radiosurgery Robotic Systems & Hospital And Pharmacy Robotic Systems), By Application (Laparoscopy, Orthopedics, Neurology & Special Education), By Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1797
Pages: 175
Formats: report pdf report excel report power bi report ppt

Medical Robots Market Size (2022 to 2027)

As per our report, the global medical robots market size is estimated to grow to USD 22.68 billion by 2027 from USD 8.71 billion in 2022, growing at a CAGR of 21.2% during the forecast period. The FDA approval of Vinci X robots developed by Intuitive Surgical was a sensation in the global medical robots market and developed intense competition.

Robots in the medical sector made all the tasks simple, secure, and efficient. Robots are primarily involved in doing surgeries with high precision. The success rate of surgical robots is very high than that of human surgeons. They can perform surgery even in tiny places accurately by taking more responsibility. The surgeon will have access to operate the robotic arms remotely with a small 3D camera and dime-sized instruments through tiny incisions inside the patient's body parts. Also, medical robots can perform many tasks other than surgeries like carrying heavyweight and others. 

The development of electromechanical devices for clinical applications is focused on the collaborative field, i.e., Medical Robotics. Facilitating the new techniques in the medical field, like boosting during the surgical process, is the primary intention of Medical Robotics. Medical robots have the astounding strength for increasing physicians' accuracy and capabilities while performing surgical methods. Medical training, rehabilitation therapy, surgery, assistance to disabled people, and prosthetics are the factors that were included in Medical robotics.

MARKET DRIVERS:

Factors such as the growing prevalence of neurological and orthopedic diseases, the increasing R&D activities by the companies, the availability of the advanced healthcare infrastructure, and the rapid implementation of the latest technology advancements in the field are majorly propelling the global medical robots market.

Rising preference for MISs (minimally invasive surgeries), growth of adopting the advanced medical technologies and robotics, growing decrepit population, increase of funding for medical robot research, acceptance the laparoscopic robotics procedures, and development of technologies in medical robotics are the primary aspects which are contributed to the growth of market world widely.

Additionally, growing incidences of chronic diseases worldwide, a rise in demand for minimally invasive surgeries, and the growing elderly population are expected to propel the global medical robots market. Furthermore, the rising scale of healthcare centers all over and increasing patient flow paired with the government's increasing investments in the pharmaceutical sector to provide effective treatment procedures are further fuelling the market's growth.

The increasing adoption of medical robots, growing per capita healthcare expenditure in developing emerging countries, and technological advancements in the medical robots integrated with the surgeon/patient approval for laparoscopic and robotic assistance further accelerate the market. Furthermore, with the rise in the rehabilitation centers with the help of robot assistance, technological advancements associated with medical robot systems are projected to add more shine to the market.

MARKET RESTRAINTS:

The lack of skilled operators monitoring the systems and increasing the systems' failure in the real-time application due to the staff members' negligence are the key restraints to the market growth. In addition, the high cost of treatment procedures is also a factor limiting the development of the market for medical robots.

Impact of COVID-19 on the global medical robots market:

The world health organization announced the COVID-19 as a pandemic in March 2020, and many countries imposed a nationwide lockdown and restrictions on the movement. COVID-19 has affected the major sectors of the economy except in the case of pharmaceutical industries. The sudden outbreak has resulted in changes in the economy. During the initial stages, the pharma industry declined in growth because there were no research and development activities made during the initial phase of the pandemic. Due to the Nationwide lockdown and ban on flights, no exchange activities were made, which resulted in the downfall in the market growth. The usage of medical robots has increased from the last months of 2020, and the market shares are expected to fall into the normal state in 2021.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By product, application, and region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global medical robots market has been segmented & sub-segmented based on product, application, and region.

Medical Robots Market - By Product:

  • Surgical Robots
    • Laparoscopy Robotic Systems
    • Orthopedic Robotic Systems
    • Neurosurgical Robotic Systems
    • Steerable Robotic Systems
  • Rehabilitation Robotic Systems
    • Therapeutic Robotic Systems
    • Assistive Robotic Systems
    • Prosthetic Robotic Systems
    • Orthotic Robotic Systems
    • Exoskeleton Robotic Systems
  • Non-Invasive Radiosurgery Robotic Systems
  • Hospital And Pharmacy Robotic Systems
    • Pharmacy Robotic Systems
    • Iv Robotic Systems
    • Telemedicine Robots

The surgical robots segment was in the top position with the most significant share of the global medical robots market in 2021 based on the product. The rehabilitation robotic systems segment is another segment that is expected to be growing at a significant CAGR during the forecast period. Compared to human surgeons, the success rate of surgical robots is high. They can also perform precise surgery in tiny places. It helps disabled patients to improve their mobility and communication. It performs repetitive tasks at high speed and reliably with the help of telemanipulation without fatigue. Very few hospitals can invest in advanced technology instruments, and the hospitals with these medical robots are forced to provide the services at higher rates. The emergence of cloud-based deployment mode in every application is surging the market's growth. The growing acquisition rate of robotic systems in hospitals and the stipulation for minimally invasive surgeries are expanding the development of this segment.

Rehabilitation robotic systems are used for physiotherapy in treating stroke and neurological disorders related to movement disability, which is projected to drive the medical robots market.

Medical Robots Market - By Application:

  • Laparoscopy
  • Orthopedics
  • Neurology
  • Special Education

The neurological segment is expected to have the most significant share in the medical robots market during the forecast period based on the application. This segment is strongly driven by the growing neurological disorders like depression and Alzheimer’s and technological developments for hardware and software of the NeuroMate system in the field of robotic systems, with betterments made in the improved scope of ergonomics.

The orthopedics robotics segment is projected to be the second-largest segment, followed by neurological and laparoscopy segments during the forecast period. In addition, the growing number of musculoskeletal conditions such as rheumatoid arthritis, low back pain, osteoarthritis, and osteoporosis are projected to demand the medical robots market during the foreseen period.

The laparoscopy segment is expected to well over the forecast period due to ease of handling the devices; these are mainly designed to meet the surgeons' requirements.

Medical Robots Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

The medical robots market in North America has been the most promising regional market globally for the past decade due to the rapid adoption of the latest technologies. In addition, increasing the hospital's construction activities with modern equipment is likely to leverage the demand for medical robots. Also, the growing prevalence of promoting effective treatment concerning the patient’s health prompts the market's need in this region.

The medical robots market in the Asia Pacific is the next prominent regional market after North America due to the rise in the number of healthcare centers. In addition, increasing funds from the public and private organizations are straightly fueling the market's growth. A growing number of skilled persons in monitoring the devices also level up the shares of the medical robots market in Asia-Pacific. Japan, India, and China are the three key countries that helped develop medical robots in the Asia Pacific region. The colossal population mainly drives it, followed by rising awareness, the development of new technologies, and increasing medical robot research funds.

The European market for medical robots is estimated to grow at a significant CAGR during the forecast period. An increasing number of research and development institutes in the medical sector to spread these applications in various parts is escalating the market's growth.

The Latin American medical robots market is expected to see notable CAGR in the foreseen years due to the rising incidences of multiple health disorders. In addition, the need for surgical procedures magnifies, and most countries' growing economies are boosting the growth of this regional market. 

The medical robots market in the Middle East and Africa is predicted to have a slight inclination in the growth rate during the forecast period. The increasing geriatric population is a significant factor influencing the growth of this market. In addition, the rise in awareness of artificial intelligence applications and their implementation at a high success rate broadens the market demand. In the Middle East and Africa, the medical robotics market is in the transition phase and is experiencing quick shifts toward growth due to factors like the governments' massive capital investments to develop healthcare infrastructure, offering advanced healthcare facilities, and implying attractive health insurance schemes.

KEY MARKET PARTICIPANTS:

Some of the notable companies in the global medical robots market profiled in the report are Intuitive Surgical Inc., Stryker CorporationHocoma AG, Mazor Robotics Ltd, Hansen Medical Inc., Accuray Incorporated, Omnicell Inc., Arxium, EKSO Bionics Holdings Inc., and Kirby Lester LLC.

RECENT MARKET DEVELOPMENTS:

  • On November 28, 2019, Medtronic launched the Mazor X Stealth Edition bringing procedural solutions for surgery plan, implementation, and workflow. Professional surgeons have successfully performed their first spine surgery by using this edition. 
  • On February 03, 2020, Omnicell, Inc. announced the essential improvements in clinical trials in ROBOTIC IV insourcing offerings and leveled up Automation Technology investments. 
  • On August 22, 2019, Capsa Healthcare released Kirby Lester, and it is to provide excellent benefits for hospital patient pharmacies as it does not require technician calibration. Also, this robotic dispenser is to reduce errors while changing medications. 
  • On September 12, 2019, Stryker Corporation, a top leading robotics company, made a public statement that it agreed to acquire Mobius Imaging and Cardan robotics to expand the business portfolio.
  • In June 2018, FDA approval was received by the Japanese technology company Cyberdyne, which started contributing its HAL (hybrid assistive limb) exoskeleton for legal, medical facilities in the US. To detect electrical signals, movement in a node in the patient’s body was caught by the sensors which are used by the exoskeleton. As a result, physical rehabilitation (lower limb disorders) will be provided.

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FAQ's

How big is the global medical robots market size?

As per our research report, the global medical robots market size is forecasted to be worth USD 22.68 billion by 2027.

Does this report include the impact of COVID-19 on the medical robots market?

Yes, we have studied and included the COVID-19 impact on the global medical robots market in this report.

Which segment by product accounted for the major share in the medical robots market in 2021?

Based on product, the surgical robots segment led the medical robots market in 2021.

Which are the major players operating in the medical robots market?

Intuitive Surgical Inc., Stryker Corporation, Hocoma AG, Mazor Robotics Ltd, Hansen Medical Inc., Accuray Incorporated, Omnicell Inc., Arxium, EKSO Bionics Holdings Inc., and Kirby Lester LLC. are a few of the notable players in the global medical robots market.

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