Medical Robots Market Overview:
The Medical Robots Market was valued at $9.5 billion in 2021 & is projected to reach $28.7 billion by 2027. It is expected to grow at a 19% CAGR between 2021 and 2027.
Medical robots are surgical robots; these are the human replacement in the medical workforce. With the ability to work without fatigue and unmatched precession, medical robots are widely used in medical practices.
Medical robots are involved in difficult surgical procedures and the technology has revolutionized the efficiency, accuracy, and speed of the health care services.
Medical robots have gained extensive acceptance in a diverse range of fields such as Neurological Surgery, Interventional cardiological surgery, orthopedic surgery, etc. These products provide a large contribution to complex cases with protection and care. Growing technological innovations are expected to fuel the market over the forecasted period.
The global medical robot market is forecasted to have notable growth during the projection period. The demand for reliable and precise processes is increasing the investment in the healthcare sector, acceleration for the paradigm shift, and automation in the standard of living are the crucial factors supporting market growth.
The laparoscopic segment holds the highest market share and dominates the global Medical Robotics market. Though, High implementation costs by the industry and incidents of injuries and accidents due to medical robots are some major challenges.
North America is the largest market for Medical Robotics globally. North America holds the highest market share in 2016 and experiences steady growth during the forecast period. North America is forecasted to lead the global medical robots market with an increase in end-use applications like hospital robots and surgical robots.
The market growth during the projection period is due to a rise in the focus of key market players on the escalating need for robotics in the medical segment. The Asia Pacific region is forecasted to grow for the medical robotics market during the forecast period.
The developing end-use industries in developing economies like China, India, etc. are driving the demand for the medical robotics market in this region.
Market segmentation and key players operating in the global medical robots market:
Global medical robots market segmentation by product type:
- Instruments and Accessories
- Medical Robotic Systems
- Surgical Robots
- Rehabilitation Robots
- Hospital and Pharmacy automation robots
Global medical robots market segmentation by application:
- Neurology Applications
- Orthopedic Applications
- Cardiology Applications
- Laparoscopic Applications
- Other Applications
Global medical robots market Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Hocoma AG
- Kirby Lester LLC
- Intuitive Surgical, Inc.
- Stryker Corporation
- Mazor Robotics Ltd.
- Accuray Incorporated
- Omnicell, Inc.
- Hansen Medical, Inc.
- EKSO Bionics Holdings, Inc.
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