Medical robots are robotic systems which enable clinicians to perform complex procedures in a more efficient & precise manner. As such technologies continue to advance, the medical robotics market has seen significant growth over recent years – especially within the fields of surgery & radiology. In this article, we will explore some of the latest trends and developments in the medical robots market that are driving growth across the industry.
The medical robots market share is estimated to be valued at US$ 8.1 Bn in 2022 and is projected to reach US$ 40 Bn by 2032. Historically, the market recorded a higher CAGR of 19.6% (2015-2021), resulting in a market size of US$ 2 Bn in 2021.
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Firstly, new designs have been developed which allow for increased flexibility & maneuverability; this allows surgeons to operate with greater accuracy & precision than ever before. On top of this, many companies are now offering customization services where they can tailor specific features according to customer requirements; this helps ensure that customers obtain optimal solutions which meet their needs perfectly – reducing unnecessary expenditure & improving workflow efficiency.
In addition, advancements in automation have enabled manufacturers to produce high-quality products with tight tolerances; this allows facilities to attain better image quality whilst maintaining cost efficiency throughout the process. Furthermore, miniaturization has facilitated incorporation of these tools into portable devices – allowing for greater accessibility when treating patients located in remote areas or where access may be restricted due to factors like disability or geography.
Companies
- Arthrex Inc
- Stryker Corporation
- CONMED Corporation
- Smith & Nephew Plc.
- Zimmer Biomet Holdings, Inc.
- Medtronic Plc.
- Johnson & Johnson
- Richard Wolf GmbH
- De Soutter Medical Limited
- Karl Storz GmbH & Co. Kg
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What is the Segmentation Outlook for the Medical Robots Market?
By application, gastrointestinal surgeries segment is anticipated to hold the largest share of medical robots market with a CAGR of 17.2% through 2032.
During the forecast period, the instruments and accessories sector held the largest share in the medical robot market. During the forecast period, this segment is expected to develop at a CAGR of 18.5 percent. The recurring purchase of instruments and accessories, as opposed to robotic systems, which are a one-time investment, is driving this segment’s significant share and fast growth rate.
Due to growing use of medical robots in hospitals and increasing robotic surgery procedures performed in hospitals, hospitals are expected to account for the highest share of the global medical robots market in 2032 with a CAGR of 16.8%.
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Key Segments:
By Product & Service
- Instrument & Accessories
- Robotic Systems
- Services
By Application
- Laparoscopy
- Orthopedic Surgery
- Pharmacy Applications
- Physical Rehabilitation
- External Beam Radiation Therapy
- Neurosurgery
- Others
By Solutions
- On-Premises
- Cloud
By End-user
- Application Medical Robots Market
- Network Medical Robots Market
- Device Medical Robots Market
- Social Engineering
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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