Medical Robots Market CAGR of 16.5% Share, Size, Growth, Opportunity and Forecast Till 2022-2031

The global medical robots market is segmented on the basis of products, applications, and geography. Based on products, the market comprises surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmacy robots, and other robotic systems. Surgical robots are further segmented into orthopedic surgical robots, neurosurgical robotic systems, laparoscopy robotic systems, and steerable robotic catheters.

Based on applications, the global medical robots market is broadly categorized into neurology, orthopedics, laparoscopy, special education, and other areas. Based on geography, the market is divided into North America, Europe, Asia, and the Rest of World (RoW). North America is the largest market for medical robots, followed by Europe and Asia. However, the Asian market is slated to grow at the highest CAGR over the next five years.

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Over the years, the demand for medical robots has increased significantly. This is due to a paradigm shift in the healthcare industry, where more emphasis is being laid on minimally invasive surgeries through the use of robots. Surgical robots improve the accuracy of procedures and thus reduce the complication rates in surgeries. Apart from being accurate, robotic procedures also offer significant cost savings in terms of pre- and post-operation care costs and length of stay at hospitals. Furthermore, technological advancements and breakthroughs such as expanded applications of robotic systems, robotics combined with imaging platforms, and capsule robot systems are expected to drive the global medical robotics market in the coming years. The other factors that are driving the growth of the global medical robotics market include growth in aging population, increase in the incidences of neurological and orthopedic disorders, and growth in demand for telemedicine. Moreover, owing to the increased demand and usage of robot assisted procedures, various government bodies are increasingly supporting the development of medical robots.

In the geographic medical robotic systems market, Asia is expected to grow at the highest CAGR. The high growth in the Asian region can be attributed to factors such as the increased healthcare spending by governments, significant healthcare reforms in various countries in this region, and increased patient awareness about robot assisted minimally invasive surgeries (MIS). Furthermore, other factors such as the growth in aging and chronically ill population, increased spending capacity of people in this region, increasing number of private sector hospitals, advancements in medical robotics technology, and expansion of rural healthcare facilities are also expected to play a pivotal role in boosting the demand for medical robots in the Asian region. The ROW region includes Latin America, Africa, the Middle-East, and Pacific countries. These markets are slated to grow at a steady pace with the increase in government healthcare spending as well as the awareness levels of patients regarding robot assisted minimally invasive surgeries.

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The key players in the global medical robots market are Intuitive Surgical Inc. (U.S.), Accuray, Inc. (U.S.), MAKO Surgical Corp. (U.S.), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (U.S.), Titan Medical, Inc. (Canada), and Health Robotics S.R.L. (Italy), among others.

Scope of the Report

This research report categorizes the global medical robots market into the following segments and sub-segments:

By Segment

Surgical Robots
Orthopedic Surgical Robots
Neurological Surgical Systems
Laparoscopy Robotic Systems
Steerable Robotic Catheters
Rehabilitation Robots
Assistive Robots
Therapeutic Robots
Exoskeleton Robotic Systems
Non-Invasive Radio surgery Robots
Hospital and Pharmacy Robots
Telemedicine Robots
I.V. Robots
Pharmacy Robots

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