The rise in the adoption of medical robots in hospitals and the growing demand to enhance the quality of life of the people globally is a major factor driving the market's growth. Also, continuous technological advancements such as motion sensors, 3D-Imaging, data analytics, HD surgical microscopic cameras, data recorders, and remote navigation are getting developed and launched to add value to the market. Multiple studies state that the medical service robots segment dominates the market and withholds a large revenue share.
According to Data Bridge Market Research, the Global Medical Robots Transforming Healthcare Market is expected to undergo a CAGR of 18.7% from 2022 to 2029.
" Increasing Demand Of Medical Robots Surge the Market Growth"
Medical service robots are in great demand as they help increase patient care by helping the medical staff and offering operational efficiencies. In addition, they help protect the labor shortage and reduce human error. Furthermore, service robots play an important role in fighting against viruses. Additionally, numerous robots being developed by major market players are boosting segment growth. For instance, Aethon's TUG autonomous mobile robot delivers laboratory specimens, medications, and other sensitive materials within a hospital environment. Thus, this factor boosts market growth.
What restraints the growth of the Global Medical Robots Transforming Healthcare Market?
" High Cost of Devices will Limit the Market Growth Rate"
The medical robots transforming healthcare include high-end devices that are very expensive and cannot be afforded by many developing and underdeveloped nations. These devices are not easily available, and their maintenance demands high costs. Several qualified professionals need to be appointed and given a high-end salary. Thus, all these major factors impede the growth of the market.
Segmentation: Global Medical Robots Transforming Healthcare Market
The global medical robots transforming healthcare market is segmented on the basis of product, application, and end user.
- On the basis of product, the medical robots transforming healthcare market is segmented into surgical robots, non-invasive radiosurgery robotic systems, rehabilitation robotic system and hospital and pharmacy robotic systems.
- On the basis of application, the medical robots transforming healthcare market is segmented into orthopedics, laparoscopy, neurology, cardiology, gynecology and others.
- On the basis of end user, the medical robots transforming healthcare market is segmented into hospitals and ambulatory surgical centers.
Regional Insights: North America is expected to dominate the Global Medical Robots Transforming Healthcare Market
North America dominates the market due to the increasing need for robotics and the rise in end-use applications such as hospital robots, surgical robots, and others in the region. The growing elderly population with weak bone density levels and injuries witnessed during accidents is anticipated to influence market growth in the coming years positively.
Asia-Pacific is expected to grow in 2022-2029 due to the developing end-use industries in developing economies such as China and India, boosting the demand for medical robotics in this region. The presence of developing opportunities, advanced healthcare infrastructure, penetration of minimally invasive surgeries, and increasing patient awareness are the major factors anticipated to boost the market growth in this region.
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Recent Developments in Global Medical Robots Transforming Healthcare Market
- In 2020, Accuray launched its next-generation CyberKnife platform, the CyberKnife S7 System, with advanced precision and real-time AI-driven motion tracking and synchronization treatment delivery for all stereotactic body radiation therapy (SBRT) treatments and stereotactic radiosurgery (SRS).
- In 2020, Medtronic acquired Medicrea, a pioneer in the evolution of spinal surgery with predictive modeling, artificial intelligence, and patient-specific implants. These technologies will likely lead to safer procedures and more consistent outcomes.
The Prominent Key Players Operating in the Global Medical Robots Transforming Healthcare Market Include:
- Intuitive Surgical (US.)
- Stryker (US.)
- Hocoma (Switzerland)
- Medtronic (Israel)
- CMR Surgical (UK.)
- Auris Health Inc. (US.)
- Accuray Incorporated (US.)
- Omnicell Inc. (US.)
- ARxIUM (US.)
- Ekso Bionics (US.)
- Capsa Healthcare (US.)
- Asensus Surgical US, Inc. (US.)
- Stereotaxis Inc. (US.)
- ReWalk Robotics (Israel)
- Titan Medical Inc. (Canada)
- Medtech SA (US.)
- Siemens Healthcare GmbH (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global medical robots transforming healthcare market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Medical Robots Transforming Healthcare Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
