Medical Robots Market Size
As per the report published by Market Data Forecast, the size of the global medical robots market was worth USD 7.19 billion in 2020 and estimated to showcase a remarkable CAGR of 21.1% between 2020 to 2025.
Key Market Drivers:
Emerging economies in both developed and developing countries is a major factor for the market to grow extensively. The introduction of the latest technological products in the healthcare sector is more likely to contribute to the highest shares for the market. In addition, the growing prevalence of reducing human errors with medical robots is ascribed to boost the growth rate of the medical robots market. Collaborations of the market key players to sustain in the top position is greatly influencing the growth rate of the medical robots market. An increasing number of patients with chronic diseases is also an attribute evaluating the demand for this market. Besides, growing disposable income and increasing focus on creating awareness are leveraging the growth rate of the market. A growing number of minimally invasive surgeries are additionally elevating the growth rate of the medical robots market.
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However, the high cost of the treatment procedures with robots is slowly restraining the growth rate of the market. Difficulty in performing the surgeries with robots due to technical issues is also impeding the demand of the medical robots market. Also, a dearth in the number of professionals is limiting the growth rate of the market.
COVID-19 Impact on global medical robots market:
COVID-19 has impacted every sector across the world. Due to lockdown restrictions and a ban on international flights, the demand for medical robots has reduced in the first half of 2020. Many surgeries have been either cancelled or postponed during the pandemic. Only emergency surgeries were performed. By following preventive measures like wearing masks and following social distancing, the movements have slowly resumed everywhere. The surgeries are also started with proper care, which is setting up the market growth. Key strategies by key players is also a factor for the market to grow eventually in the coming days. However, the market shares will come into a normal position by 2021.
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This research report on the Global Medical Robots Market has been segmented & sub-segmented based on product, application, and region.
- Surgical Robots
- Laparoscopy Robotic Systems
- Orthopedic Robotic Systems
- Neurosurgical Robotic Systems
- Steerable Robotic Systems
- Rehabilitation Robotic Systems
- Therapeutic Robotic Systems
- Assistive Robotic Systems
- Prosthetic Robotic Systems
- Orthotic Robotic Systems
- Exoskeleton Robotic Systems
- Non-Invasive Radiosurgery Robotic Systems
- Hospital And Pharmacy Robotic Systems
- Pharmacy Robotic Systems
- Iv Robotic Systems
- Telemedicine Robots
- Special Education
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
North America is the one leading with dominant shares of the market owing to the quick adoption of advanced technologies in healthcare. Increasing acceptance of robotic assistance by patients is escalating the growth rate of the medical robots market in this region. US and Canada are ruling with the highest shares of the market. Increasing support from the government in launching various reimbursement policies in favor of the end-users is likely to propel the demand of the market in these countries. Europe is next to North America in holding the prominent shares of the market. High precision with robotic surgeries and fewer recovery times are major advantages with medical robots. Also, medical robots can perform difficult operations with ease and high accuracy, where this is accelerating the growth rate of the market in Europe. The Asia Pacific is with the fastest growth rate. The growing elderly population and growing incidences of cancer and other infectious diseases are fuelling the demand for the medical robots market in this region.
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NOTABLE PLAYERS IN THIS MARKET
Companies dominating the global medical robots market analyzed in this report are Intuitive Surgical Inc., Stryker Corporation, Hocoma AG, Mazor Robotics Ltd, Hansen Medical Inc., Accuray Incorporated, Omnicell Inc., Arxium, EKSO Bionics Holdings Inc., and Kirby Lester LLC.
List of Tables and Figures of the report:
- Global Medical Robots Market, By Region, From 2020 to 2025 (USD Billion)
- Global Medical Robots Market, By Product, From 2020 to 2025 (USD Billion)
- Global Surgical Robots Market, By Region, From 2020 to 2025 (USD Billion)
- Global Rehabilitaion Robotic Systems Market, By Region, From 2020 to 2025 (USD Billion)
- Global Non-invasive Radiosurgery Robotics systems Market, By Region, From 2020 to 2025 (USD Billion)
- Global Hospital & Pharmacy Robotic Systems Market, By Region, From 2020 to 2025 (USD Billion)
- Global other Robotic Systems Market, By Region, From 2020 to 2025 (USD Billion)
- Global Medical Robots Market, By Application, From 2020 to 2025 (USD Billion)
- Global Laparoscopy Market, By Region, From 2020 to 2025 (USD Billion)
- Global Orthopaedics Market, By Region, From 2020 to 2025 (USD Billion)
- Global Neurology Market, By Region, From 2020 to 2025 (USD Billion)
- Global Special Education Market, By Region, From 2020 to 2025 (USD Billion)
- Global other Applications Market, By Region, From 2020 to 2025 (USD Billion)
- 100+ More
Browse Regional Reports:
- North America Medical Robots Market
- Europe Medical Robots Market
- Asia Pacific Medical Robots Market
- Latin America Medical Robots Market
- Middle East and Africa Medical Robots Market
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