PUBLISHER: SkyQuest | PRODUCT CODE: 1165283
PUBLISHER: SkyQuest | PRODUCT CODE: 1165283
Global Medical Robots Market was valued at USD 8.40 billion in 2021 and it is expected to reach at USD 29.30 billion by 2028, with CAGR of 22.15% over the forecast period (2022-2028).
The elderly are more prone to injuries and other illnesses that need surgical treatment due to the pathological and psychological changes that come with aging. The primary drivers of market expansion are the increased demand for precise laparoscopic procedures and the rising incidence of trauma injuries. Additionally, rising per capita healthcare spending and advancing medical equipment technology are expected to fuel the market for medical robotics in emerging nations.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Medical Robots Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report:
Global medical robots market is segmented based on product & service, application, end use, end user, and region. Based on product & services, market is segmented as instrument & accessories, robotic systems, services. Based on application, market is segmented as laparoscopy, orthopaedic surgery, pharmacy applications, physical rehabilitation, external beam radiation therapy, neurosurgery, and other applications. Based on end use, market is segmented as on-premise solutions, cloud-based solutions. Based on end user market is segmented as hospitals, ambulatory surgery centres, rehabilitation centres, other end users. Based on region, market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Driver
The increased demand for robotic minimally invasive operations is mostly attributable to their benefits, which include fewer cuts, smaller incisions, decreased discomfort, reduced scarring, improved levels of safety, and speedier recovery times. Furthermore, the treatments give the surgeons extremely sophisticated visualization abilities by using HD cameras to show minute features. So, ensuring increased precision and greater control. There has been an increase in rehabilitation robotics research over the last few years, as well as a sharp increase in the number of therapeutic rehabilitation robots, thus fuelling the demand for medical robots in the global market.
Restraint
The global medical robots market will likely face restrains during the forecast period as robot-assisted surgeries are very expensive compared to minimally invasive surgeries. This might create challenges for players in the market. Lower adoption of robots in medicine in emerging economies will hinder market growth during the forecast period.
Market Trends
The market is anticipated to increase due to ongoing technology developments such as motion sensors, robotic catheter control systems (CCS), 3D imaging, data recorders, data analytics, HD surgical microscopic cameras, and remote navigation. Additionally, more goods receiving FDA approval is anticipated to fuel market expansion during the forecast period. ReWalk Robotics, for instance, declared that the FDA had approved the sale of their ReStore soft exo-suit system to rehabilitation facilities across the United States in 2019.