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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), Application and Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1797
Pages: 175
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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.

Medical Robots Market Share Insights:

  • Based on type, the surgical robots segment led the market in 2021.
  • Based on application, the neurological segment dominated the market in 2021.
  • The APAC region led the market and captured the leading share of the global market in 2021.
  • The North American region is expected to be worth USD 8.12 billion by 2027.
  • The European region is anticipated to grow at a CAGR of 20.4% from 2022 to 2027.

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:

The increasing R&D activities by the market participants, the availability of the advanced healthcare infrastructure, and the rapid adoption of latest technological advancements are propelling the global medical robots market growth.

The market participants are putting significant efforts to develop advanced technologies and improve capabilities of medical robots, which is eventually expected to result in the growth of the medical robots market. Companies such as Intuitive Surgical and Medrobotics are investing huge amounts into the development of advanced robotic-assisted surgical systems, which can be used in a variety of minimally invasive surgeries. The growing investments and R&D to develop the healthcare infrastructure worldwide is expected to have favourable impact on the market growth in the coming years.

The growing prevalence of neurological and orthopedic diseases is accelerating the growth rate of the medical robots market.

Medical robots are specialized robots used for a variety of tasks in the healthcare industry including in the treatment procedures of neurological and orthopedic diseases. Medical robots such as robotic-assisted surgical systems, exoskeleton devices and rehabilitation robots are used in surgical procedures and aid humans suffering from neurological and orthopedic conditions. Rising preference for minimally invasive surgeries, growing adoption the latest 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 further contributing to the growth of medical robots market. In addition, growing incidences of chronic diseases worldwide, and growing aging population are promoting the need of medical robots.

The rising scale of healthcare centers and increasing patient flow to the hospitals, the government's increasing investments in the pharmaceutical sector to provide effective treatment procedures are further anticipated to project favourable impact on the market growth. Furthermore, 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 are promoting the market’s growth rate. Furthermore, with the rise in the rehabilitation centers with the help of robot assistance, technological advancements associated with medical robot systems are projected to fuel the medical robots market growth.

MARKET RESTRAINTS:

The lack of skilled operators monitoring the medical robotic systems and growing incidence of system failures in the real-time application due to technical glitches and negligence of staff are hampering the market’s growth rate. In addition, high costs associated with the treatment procedures is also a factor limiting the growth 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. Likewise, the medical robots market was negatively impacted by the COVID-19 pandemic in the initial days. However, due to the reduced impact of COVID-19, the medical robots market is anticipated to recover quickly and register a healthy CAGR in the coming years.

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 topped the market and held largest share of the global medical robots market in 2021 by product type. Compared to human surgeons, the success rate of surgical robots is high, and 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 propelling the segmental growth.

The rehabilitation robotic systems segment is another segment that is expected to be growing at a significant CAGR during the forecast period. Rehabilitation robotic systems are used for physiotherapy in treating stroke and neurological disorders related to movement disability, which is expected to result in the growth of the segment.

Medical Robots Market - By Application:

  • Laparoscopy
  • Orthopedics
  • Neurology
  • Special Education

Based on application, the neurological segment had the largest share of the global market in 2021 and is expected to showcase a healthy CAGR during the forecast period. The growth of the segment is primarily driven by the growing neurological disorders such as 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 held a noteworthy share of the global market in 2021 and is estimated to register a promising growth rate during the forecast period. The growing number of musculoskeletal conditions such as rheumatoid arthritis, low back pain, osteoarthritis, and osteoporosis are propelling the segmental growth.

The laparoscopy segment is expected to do 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 a prominent regional market for medical robots and is estimated to project fastest CAGR among all the regions. The region’s dominance is majorly driven by the rise in the number of healthcare centers and increasing funds from the public and private organizations. The growing adoption of the medical robots market in Asia-Pacific is further propelling the regional market growth. Japan, India, and China are expected to have healthy growth rate from this region. The growing population, rising awareness, growing R&D efforts to enhance the medical robot capabilities and increasing medical robot research funds are further favouring the APAC market growth.

The European market for medical robots is estimated to grow at a notable CAGR during the forecast period owing to the growing number of R&D institutes in the medical sector to spread these applications in various parts.

The Latin American medical robots market is expected to see healthy CAGR in the foreseen years due to the rising incidences of multiple health disorders and the increasing need for surgical procedures, and growing economies. 

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:

  • In February 2020, Omnicell, Inc. announced the essential improvements in clinical trials in ROBOTIC IV insourcing offerings and leveled up Automation Technology investments. 
  • In November 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. 
  • In August 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. 
  • In September 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) were 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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