Medical Robotics Market
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The global medical robotics market was valued at US$ 8.04 Billion in 2020 and expected to reach US$
22.23 Billion by 2027 and is expanding at a CAGR of 16.1% during the forecast period
Robotics has been widely accepted by the healthcare industry, especially in the area of surgery,
diagnostics, emergency response, companionship, and other disciplines of the medical field. The
precision and accuracy offered by a robot in a surgical process deserves enhanced attention. Telerobotic
systems such as da Vinci Surgical System have attracted investors with its ability to perform surgery that
offers more reliable outcomes for some procedures. As per the International Federation of Robots (IFR)
the demand for medical robotics is anticipated to grow at a substantial growth rate owing to its ability to
carry out complex and precise tasks with high efficiency and accuracy.
The growing demand for better healthcare facilities along with technological advancements in the field
of robotics are prime factors boosting the sales of medical robotics. The period of pandemic made many
economies realize their limitations in terms of medical services. As per World Health Organization
(WHO) more than 5,404,512 confirmed cases of COVID19 were reported worldwide with 343,514
causalities. The scenario had put forth a major challenge for the healthcare providers as well as
governments of countries across the world. Robotics in healthcare has been proven to be a viable
solution to address these concerns. Use of medical robots limits human interactions and can avoid
further spread of virus effectively. For instance, telemedicine robots are being used by doctors and
nurses to provide their consultation or monitoring of patients for psychological analysis as well as
diagnosis of diseases remotely. Moreover, the emergence of nanobots in medical robotics is expected to
revolutionize the industry in coming years.
The market for surgical robots is expected to grow at a substantial rate during the forecast period. These
robots offer various benefits such as fewer complications, quicker recovery of patients, precise and
smaller scars. Robots can be used in various types of surgeries including heart, urologic, gynaecological,
colorectal, head, neck, and general, among others. The global demand for surgical robotics is majorly
driven by an increasing geriatric population and increase in disposable income in Asia Pacific region.
Additional factors contributing to this growth include rising demand for process automation in
healthcare sector, considerable increase in lifestyle-based diseases, and supportive reimbursement
policies in developed economies such as the U.S. Mapping the expected growth in the field, various new
start-ups are coming in the picture with their innovative solutions in medical robotics market. For
instance, ZAP Surgical Systems is a U.S.-based start-up that has built a radio-surgical robot for the non-
invasive ablation of neck and brain tumors. The solution ZAP-X is designed to eliminate the need of
traditional radiation vaults that allows simple point-of-care delivery in delicate places.
In terms of region, North America medical robotics market accounted for the largest followed by
Europe. Growing adoption of surgical robots, high number of emerging players in the region, and
favorable technological infrastructure as well as healthcare facilities are few of the dominant factors
driving the market growth in the region. The medical robotics market in Asia Pacific is projected to grow
at the highest CAGR during the forecast period owing to increased healthcare spending on medical
equipment and growing need to tend ageing population & physically challenged patients who need
consistent monitoring.
Medical Robotics Market Key Findings:
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Based on the product type, the solutions segment accounted for the largest market share in the base
year 2020 and is expected to grow at a CAGR of 18.6% during the forecast period.
Based on the end user, the hospitals/clinics segment accounted for the largest market share in 2020 and
will maintain its position throughout the forecast period (2020-2027)
Based on regions, the Asia Pacific region is witnessing a growth rate of 19.1% in the medical robotics
industry
Medical Robotics Market Recent News:
In January 2021, DePuy Synthes- a unit of Johnson & Johnson, announced that it received FDA 510 (k)
clearance for its Velys System which is a robotic-assisted system that is designed with the Attune total
knee system. The clearance of Velys indicates that it will become an integral part of the company’s
digital surgery platform of connected technologies. Johnson & Johnson and DePuy Synthes acquired the
Velys system from Orthotaxy in 2018.
In November 2020, Medtronic plc – a medical technology firm announced its plan to acquire France-
based Medicrea International – a AI platform provider for spinal surgical procedures. This was
Medtronic’s seventh acquisition, which has enriched the company’s portfolio into AI, machine learning,
and predictive analytics.
The Global Medical Robotics Market Segmentation:
The global medical robotics market is segmented based on Product Type, Application, End Use, and
Region
By Product Type
Solutions
Surgical Robotic Systems
Hospital & Pharmacy Robotic Systems
Assistive & Rehabilitation Robotic Systems
Non-invasive Radiosurgery Robotic Systems
Other Systems and Accessories
Services
By Application
Laparoscopy
Neurology
Pharmacy
Orthopedics
Others
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By End-use
Hospitals/Clinics
Pharmaceutical and Biotechnology
Ambulatory Surgical Centers
Specialty Centers
Rehabilitation Centers
Others
By Region-
North America,US,Canada,Europe,UK,Germany,France,Italy,Spain,Rest of Europe,Asia
Pacific,China,India,Japan,Australia,South Korea,Rest of Asia Pacific,Latin America,
Mexico,Brazil,Argentina Rest of Latin America, Middle East & Africa, Middle East, Africa
Company Profiles and Competitive Intelligence
Intuitive Surgical, Inc.
Stryker Corporation
Accuray Incorporated
Becton, Dickinson and Company (BD)
Zimmer Biomet
Omnicell, Inc.
Smith & Nephew plc
Hocoma AG
Cyberdyne Inc.
Ekso Bionics
Medtronic plc
ARxIUM
CMR Surgical
ReWalk Robotics
Renishaw plc
Read More Information- https://www.alltheresearch.com/report/734/medical-robotics-market
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