Increasing Demand for Surgical Procedures in Geriatric Population Is Expected to Boost the Growth of the Global Medical Robots Market During the Forecast Period

Medical Robots Market - Global Industry Analysis and Forecast 2020 to 2027

Global Medical Robots Market: Key Highlights

  • The Global Medical Robots Market is estimated to reach USD 28,551.34 million by 2027 at a CAGR of 20.1% during the review period
  • The medical robots market is majorly segments into product and application
  • On the basis of application, the market is bifurcated into neurology, special education, orthopedics robotic systems and laparoscopy. The neurology is expected to account for the fastest growth in the forecast period. Where the technological growth of hardware and software of the neuromate system and in the field of robotic neurotechnologies with improved scope of ergonomics and neurology
  • On the basis of region, the market is segmented into Americas, Europe, Asia-Pacific, and Middle East & Africa
  • Americas accounted for the major market share, as the region has rising the adoption of surgical robots by hospitals, growing investment for research on medical robots, as well as the rising in the technologically growth in the medical robots. These trend will lead to fuel the market growth in the region
  • Top players that account for the major share include Accuray Incorporated, ARxIUM, Ekso Bionics, Hocoma, Intuitive Surgical, Kirby Lester (Capsa Healthcare), Medtronic, Omnicell, Inc., Renishaw plc., Stryker and among others.

Medical Robots Market

Global Medical Robots Market: Key Market Dynamics

  • The growing advancement in technology is play a significant role for the medical robots market. As the rising technological growth have led to offer a variety of medical robots which helps to advance the medical practice
  • The increasing demand for surgical procedures in geriatric population is also lead to enhance the demand of the medical robots market growth
  • Further, growing investments in R&D plays significant opportunities for the market growth
  • However, high cost of installation and maintenance are hindering the growth of the market.

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Global Medical Robots Market: Regional Overview

  • Americas:
    • America region is further divided in to North America and Latin America. Globally, Americas accounted for the major market share
    • Americas accounted for the major market share, as the region has rising the adoption of surgical robots by hospitals, growing investment for research on medical robots, as well as the rising in the technologically growth in the medical robots. These trend will lead to fuel the market growth in the region
    • On December, The Robotic Industries Association (RIA), a part of the Association for Advancing Automation (A3), had announced 2019 North American robot unit orders are up 1.6% as compared to 2018, with 29,988 robotic units ordered
    • The  rising prevalence of chronic diseases in the region is also the key factor for the market growth in the forecast period.
  • Asia-Pacific
    • Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
    • Asia-Pacific is projected to grow at the fastest growth rate, with the presence of emerging opportunities, enhance healthcare infrastructure, and rising patient awareness, which boost the market growth
    • In the region Covid-19 pandemic is excepted to props up demand for medical robots, during the time, hospitals as the battlefront used intelligent medical robots for guide, disinfection and sterilization.

Global Medical Robots Market: Key Players

Some of the key players operating in the Accuray Incorporated, ARxIUM, Ekso Bionics, Hocoma, Intuitive Surgical, Kirby Lester (Capsa Healthcare), Medtronic, Omnicell, Inc., Renishaw plc., Stryker, and among others.

Global Medical Robots Market: Key Developments

  • On March 2019, the Intuitive Surgical had announced that it has received the clearance for da Vinci SP surgical system, for use in certain transoral otolaryngology procedures in adults. The da Vinci SP system helps to provide a surgeons with robotic assisted technology designed for deep as well as narrow access to tissue in the body.
  • On May 2019, the Accuray Incorporated signed an agreement with Hong Kong Sanatorium & Hospital for the acquisition of two Synchrony motion tracking and correction technology upgrades, to be used with the hospital's Radixact Systems.
  • On October 2018, the Medrobotics, announced the first sale of their Flex Robotic System for gastroenterology applications in Europe.

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Rep Id : HC 045

Published : 2020-10-27

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