Number of pages: 120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global medical robots market was pegged at ~US$ 6.1 billion in 2020 and is expected to witness a CAGR of ~16.2% during the forecast period.
Medical robots are a type of professional service robots used in and out of hospital settings to improve the overall level of patient care. It comprises a variety of technical apparatuses and machines employed in the medical field either to perform work of a mechanical nature or to assist in activities. They help to ease the workload of medical staff, allowing them to spend more time on patient care. Medical robots also ensure operational efficiencies and cost reductions for healthcare facilities.
The global medical robots market is mainly driven by increasing demand for non-invasive/minimally invasive surgeries, technological advancements, increasing adoption of surgical robots and rising geriatric population. Rising investments for development of effective robotic systems by prominent players is also driving the market globally. However, high costs associated with installation and maintenance of medical robots is likely to restrain the market growth to a certain extent.
The global medical robots market has been analyzed from four perspectives: Type, Application, End User and Region.
Medical Robots Market by Type
Based on type, the market has been segmented into robotic systems, instruments & accessories and services. The robotic system segment is further categorized into surgical robotic systems, hospital & pharmacy robotic systems, rehabilitation robotic systems and others (noninvasive radiosurgery robotic systems, emergency response robotic systems, telepresence robotic system, and other robotic systems). The instruments & accessories segment is expected to be the fastest growing segment in the market. The growth of the segment can primarily be attributed to frequent purchase of accessories unlike robotic systems.
Medical Robots Market by Application
Based on application, the medical robots market has been segmented into orthopedic surgery, laparoscopy, neurosurgery, pharmacy applications, cardiology, and others (external beam radiation therapy, physical rehabilitation, and other applications). The orthopedic surgery is expected to be the fastest growing application segment in medical robots market during forecast period. The growth of the segment can be attributed to rising prevalence of musculoskeletal conditions such as rheumatoid arthritis, osteoarthritis, osteoporosis, among others. High placement accuracy provided by medical robots during orthopedic surgeries is another key factor driving its demand.
Medical Robots Market by End User
Based on end user, the market has been segmented into hospitals, ambulatory surgery centers and others (rehabilitation centers, pharmacies, and others). The hospitals segment accounted for the largest share in the market. The growth of the hospitals segment can primarily be attributed to the rapid adoption of technologically advanced medical robots in hospitals to reduce the drawbacks of traditional methods in surgeries and to gain higher precision and better outcome.
Medical Robots Market by Region
Based on region, the global medical robots market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the medical robots market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to its developed infrastructure, rapid adoption of minimally invasive procedures, and rising investments & funding for robotic research.
Some of the prominent players operating in the medical robots market includes:-