Medical Robotic Market Size, Industry Analysis Report By Product (Instruments and Accessories, Robotic Systems), By Application (Laparoscopy, Orthopedic Surgeries, Neurosurgeries, Pharmacy Applications) & Region – Forecasts
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 204
- CATEGORY
- Healthcare & Life Sciences
The global medical robotic market size was valued at around USD 15.2 billion in 2022 and is expected to register at a CAGR of 16.3% over the forecast period. Medical robots are considered professional service robots that are utilized both within and outside of hospitals to raise the standard of care provided to patients. They create extensive operational procedures thus reducing the workload of hospital personnel so that they can spend more time providing direct patient care. Due to the increase in the number of elderly people, minimally invasive procedures are performed on patients, which is cost-effective. In a hospital setting, medical robots are employed to administer drugs and other valuable items. The more dangerous bacteria are eradicated from a surface, the more illumination the robot exposes it to. In a typical patient room, 99% of the bacteria and germs are eliminated in 5 to 10 minutes.
The Medical Robots Market - Growth Factors
The market in emerging nations is expected to be driven by rising per capita spending on healthcare and technological progress in hospital devices. The senior population is more vulnerable to accidents and other illnesses that call for surgical treatment due to pathological as well as psychological changes that come with aging. The primary drivers of market expansion are the increased demand for precise laparoscopic procedures and the increased number of trauma injuries. Growing product FDA certifications are anticipated to fuel market expansion throughout the projection period. The methods give surgeons incredibly intricate imaging capabilities by illuminating microscopic components with HD cameras so, ensuring increased precision and better control. There has been an increase in the rehabilitation field of robotics over the last few years, as well as a sharp rise in the number of therapeutic robotic systems. The increased demand for robotic noninvasive operations is mostly attributable to their benefits, which include fewer cuts, less incisions, less discomfort, reduced scarring, improved levels of safety, and speedier recovery times. On the other hand, the high cost of robotic systems is one of the main issues anticipated to impede the market expansion of the Medical Robots market. Additionally, with robotic surgery, medical professionals may do complex and complicated treatments that could have been challenging to complete using traditional techniques. Restraints are necessary due to medical robot safety concerns. Medical robot safety issues can result from a variety of circumstances, including a human mistake in which the robotic system is given incorrect instructions.
The Medical Robots Market – Market Trends
• Businesses that operate in the medical robots market employ a variety of natural innovations that stimulate dynamic market growth.
• Different organic development techniques, like product launches and product development, foster market expansion. Numerous organizations are using a variety of inorganic methods, including alliances and acquisitions, and mergers, which on the other hand is considered the major market trend in the Medical Robots market.
• The newest market trend involves the creation of microswimmers, which are tiny robots. The geometry of a microswimmer determines which body components it may work on.
The Medical Robots Market – Segmentation
The Medical Robots Market, By Product, is bifurcated into:
• Instruments and Accessories
• Robotic Systems
The Medical Robots Market, By Application, is segregated into
• Laparoscopy
• Orthopedic Surgeries
• Neurosurgeries
• Pharmacy Applications
According to forecasts, the market for neurosurgery will expand at the fastest rate.
The Medical Robots Market –Regional Analysis
Due to the region's rapid technical development, Asia-Pacific is predicted to lead the global market for medical robots. Because of its increasing middle-class group of people, China is considered the market leader in the Asia-Pacific region. Due to the region's technological improvements, the market in Europe is anticipated to expand significantly throughout the forecast period. Also owing to the abundance of market participants, Germany is currently dominating the European market.
The Medical Robots Market – Key Market players
The major players in the market are Stryker Corporation, Intuitive Surgical, Hocoma, Mazor Robotics, Hansen Medical, Omnicell, ARxIUM, Accuray, Ekso Bionics, Kirby Lester among others.
Report scope
Global Medical Robotic Market: Historical Years- 2018-2021
Global Medical Robotic Market: Forecast Years- 2022-2030
Global Medical Robotic Market 2022- USD 15.2 Billion
Global Medical Robotic Market CAGR- 16.3%
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