Robotics in the healthcare industry, means, the merger of medical services and products with Artificial Intelligence. Since the implementation and introduction of AI in the healthcare sector, its application has been huge as they serve the healthcare sector with myriad advantages like enhanced operations, error-free diagnosis, and treatment. With that said, major developments are still around the corner. To date, some widely used robots in this field include Surgery Robots, Rehabilitation Robots, Biorobots, Telepresence Robots, Pharmacy Automation Robots, Companion Robots, and Disinfection Robots. Out of these, surgical robotics contributed to the highest market share of the global healthcare robotics market in the past few years with Rehabilitations Robots expected to grow at the highest rate in the next few years. The global healthcare robotics market is estimated to thrive at around $11 Billion by 2026 at a whopping CAGR of 21.5%.
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HEALTHCARE ROBOTICS MARKET SEGMENTATION:
On the basis of Product:
- Instruments & Accessories
- Robotic Systems
- Surgical Robotic Systems
- Rehabilitation Robotic Systems
- Noninvasive Radiosurgery Robotic Systems
- Hospital and Pharmacy Robotic Systems
- Other Robotic Systems
On the basis of Application:
- Laparoscopy
- Orthopedic Surgeries
- Neurosurgeries
- Pharmacy Applications
- Other Applications
On the basis of End User:
- Hospitals and Clinics
- Specialty Centers
- Rehabilitation Centers
- Others
On the basis of region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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REGIONAL INSIGHT:
North America has been typically leading the global market for healthcare robots owing to stronger economic conditions, enhanced awareness amongst the patients towards the utility of new, innovative technologies, rapidly increasing geriatric population, rising number of robotic surgeries & rate of robot installation, continuous technological developments etc.
The market is projected to grow at a greater pace in the near future mainly due to the high levels of initial medical investment in this region, rising government investment in healthcare infrastructure, increasing expenditure on healthcare, and rising investments and funding for robotic research.
Europe is expected to hold the second-largest position in the global medical robotics market. Since their governments have been initiating innovative policies for improving well-being and health of their citizens, Europe is forecasted to have substantial growth in the near future. The presence of reimbursement and national funding in 11 European countries, namely France, Germany, Italy, Austria, Belgium, Denmark, England, the Netherlands, Norway, Sweden, and Switzerland for robotic surgical procedures are contributing to the market growth.
The other region of enormous growth in the healthcare robotics market is the Asia Pacific region because of developing healthcare sector, rapidly increasing technological developments in robotics, presence of significant opportunities for the market etc. Moreover, growing disposable income levels, technological evolution and rapidly changing lifestyle scenario are the main reasons behind the impressive growth rates in this region. Increase in the number of government subsidiaries dedicated to installing and implementing healthcare robots, with industries in India, South Korea and China, Japan using healthcare robots in hospitals and rehabilitation centers and also due to the increasing aging population, the region is expected to massively grow in the healthcare robotics market.
FEW KEY PLAYERS IN HEALTHCARE ROBOTICS MARKET:
- Smith & Nephew (UK)
- Stryker (US)
- Aethon (US)
- Intuitive Surgical (US)
- Mazor Robotics (Israel)
- InTouch Technologies Inc. (US)
- Renishaw plc (UK)
- Medtech SA (France)
- Ekso Bionics (US)
- ReWalk Robotics (US)
- Medrobotics Corporation (US)
- McKesson Corporation (US)
- Other Key & Niche Players
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