Medical Robotics Market, Size, Share, Growth, insights, Outlooks, Global Forecast 2022-2027
  • Published On: 09-03-2022

Medical Robotics Market, Size, Share, Growth, insights, Outlooks, Global Forecast 2022-2027

Global Medical Robotics Market will reach US$ 30.41 Billion in 2027. Medical robots are robots that are utilized in the medical business around the world for various applications ranging from surgical procedures to rehabilitation. Furthermore, the ever-increasing efficiency of these robots in performing operations such as surgery has played a crucial role in their growing adoption in the medical business. Again, there is a global shift away from open surgical treatments and minimally invasive surgical methods. Furthermore, surgical robots are becoming more efficient in performing laparoscopic surgical procedures, and new and upgraded procedure-specific robots are being introduced to the global market.

During the period 2021-2027, the global medical robotics market is expected to grow at a CAGR of 21%:

The global benefits of robotic-assisted surgery and robot-assisted training in rehabilitation therapy, technological advancements in robotic systems, improving reimbursement scenarios, increasing adoption of surgical robots, and increased funding for medical robot research are all driving the growth of the global medical robotics market. Reduced post-surgical problems, shorter hospital stays, and cheaper operation costs are other advantages. As a result, the worldwide medical robots market is expanding rapidly and is likely to continue in the coming years.

Impact of COVID-19 on Robotics Market:

COVID-19 has turned into a global stress test. As the number of persons infected with the virus has increased worldwide, concerns for global economic growth have grown. In 2020, the number was still rising. Robots, drones, and artificial intelligence have all gained popularity due to the new coronavirus. The global epidemic of COVID-19 has consequences for the robotics industry. It promoted the development of professional service robots, which have aided in the supplementation of essential infrastructure personnel and alleviating supply chain stress. Furthermore, these technologies assisted in managing significant personnel shortages in healthcare, industry, and supply chains and the requirement for "social separation" and pandemic detection and treatment. According to our calculations, the global medical robotics market will be worth US$ 9.69 Billion in 2021.

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The Major Factors That Determine the Surgical Robots Segment's Dominance:

Surgical Robotic Systems, Rehabilitation Robotic Systems, Hospital & Pharmacy Robotic Systems, and Non-invasive Radiosurgery Robotic Systems are the market segments in our analysis based on product. Rapid advancements in surgical robots and increased demand for less invasive surgical procedures, and rising per capita healthcare spending in emerging countries are some of the primary factors driving the surgical robot segment's largest market.

The Market Share of the Laparoscopic Application Segment Is The Largest:

In our analysis based on applications, the medical robots market is divided into Orthopaedic, Laparoscopy, Neurosurgery, and Pharmacy. According to our research, the laparoscopy application segment will account for the most significant share throughout the projected period, owing to an upsurge in laparoscopic surgical operations performed globally and the deployment of surgical robots. Furthermore, the orthopedic segment is expected to develop quickly during the projection period.

North America's Dominance is Defined by Higher Adoption of Advanced Surgical and Rehabilitation Robots:

Due to growing per capita healthcare expenditures and an increasing number of patients undergoing minimally invasive surgical approaches in North America, there is a growing demand for advanced surgical robots from healthcare settings. In addition, the increasing prevalence of chronic diseases, coupled with a higher number of patients suffering from neurological disorders, are other factors driving the market demand for surgical, rehabilitation, and other robots in North America. Besides, the rapidly developing hospital and healthcare infrastructure in the Asia Pacific and Europe is projected to expand the increasing demand for surgical and rehabilitation robots during the forecast period.

Key Market Players:

The introduction of surgical robots and other robots that enable healthcare providers to give more efficient care and treatment has been critical in the market's growth. New entrants in the market also focus on developing robots for rehabilitation systems demand, as market players continue to innovate and introduce advanced surgical and other robots worldwide. iRobot Corporation, Intuitive Surgical, Inc., Stryker Corporation, Accuray Incorporated, Medtronic, Inc., Smith & Nephew plc, McKesson Corporation, and Ekso Bionics Holdings, Inc. are among the important players profiled in our analysis.

Renub Research latest report “Medical Robotics Market, Global Forecast By Product (Surgical robotic systems (General Surgery, Gynecology, Urology, Orthopedic and Others), Rehabilitation Robotic Systems (Therapeutic Robots, Exoskeleton Robots, Assistive Robots and Other Rehabilitation Robots), Hospital & pharmacy Robotic Systems (Non – invasive Radiosurgery Robotic Systems and Others Robotic Systems), Application (Orthopedic, Laparoscopy, Neurosurgery, Pharmacy and Others), Regions (North America, Europe, Asia – Pacific and Rest of the World), Company (iRobot Corporation, Intuitive Surgical, Inc., Stryker Corporation, Accuray Incorporated, Medtronic, Inc., Smith & Nephew plc, McKesson Corporation, and Ekso Bionics Holdings, Inc.)”provides a detailed analysis of SMedical Robotics Industry.

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Product – Market has been covered from 3 viewpoints:

1. Surgical Robotic Systems

a) General Surgery
b) Gynecology
c) Urology
d) Orthopedic
e) Others

2. Rehabilitation Robotic Systems

a) Therapeutic Robots
b) Exoskeleton Robots
c) Assistive Robots
d) Other Rehabilitation Robots

3. Hospital & pharmacy Robotic Systems

a) Non – invasive Radiosurgery Robotic Systems
b) Others Robotic Systems

Application – Market has been covered from 5 viewpoints:

1. Orthopedic
2. Laparoscopy
3. Neurosurgery
4. Pharmacy
5. Others

Regions – Market has been covered from 4 viewpoints:

1. North America
2. Europe
3. Asia – Pacific
4. Rest of the World

Company Insights:

Recent Development & Strategies
Financial Insights

Companies Covered:

1. iRobot Corporation
2. Intuitive Surgical, Inc
3. Stryker Corporation
4. Accuray Incorporated
5. Medtronic ,Inc
6. Smith & Nephew plc
7. McKesson Corporation 
8. Ekso Bionics Holdings ,Inc

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