Global medical robots market size to expand at 16.5% CAGR through 2027
The research report on ‘global medical robots market’ offers significant information such as primary growth trends, challenges & restraints, as well as expansion opportunities that are likely to define the growth matrix of this business domain in the coming years.
Selbyville, Delaware, Jan. 27, 2021 (GLOBE NEWSWIRE) -- According to reliable predictions, global medical robots market size was valued at USD 5.06 billion in the year 2019 and is expected to grow with a CAGR of 16.5% during 2020-2027. There has been an upsurge in demand for minimally invasive surgeries owing to faster recovery periods, increased safety, fewer cuts, and reduced pain, which in turn is one of the key factors augmenting the demand for medical robots across the globe.
Moreover, the document talks about the various market segmentations such as products & services, application scope, and regional outlook. It not only elaborates on the current share of these segments, but also highlights their individual impact towards the overall market outlook. The study also offers crucial insights regarding the competitive landscape by mentioning the business strategies as well as product innovations conducted by the industry participants.
For those unaware, medical robots are an advanced service system which are primarily used in and out of hospitals in a bid to offer better patient care. This system not only helps in reducing operational workload among medical staff but also allow them to take better care of patients. Thus, widespread adoption of medical robots to provide remote care, reduce hospital acquired infections, and efficiently as well as accurately draw blood from patients is stimulating the overall industry outlook.
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Additionally, technological advancements and subsequent development of innovative and high efficiency surgical robots coupled with their extensive use in laparoscopies surgeries are favoring global medical robots market dynamics. However, high costs associated with robot-based surgeries may potentially hinder the overall industry remuneration in the upcoming years.
*Summarizing the market segmentations*
Global medical robots market is segmented on the basis of product & services and application scope. Speaking of product & services, the market is further split into services, robotic systems, and instruments & accessories. The application reach of the overall market consists of neurosurgery, physical rehabilitation, pharmacy applications, laparoscopy, and others.
*Highlighting the geographical landscape*
Based on regional outlook, worldwide medical robots market is bifurcated into North America, Latin America, Europe, Asia-Pacific and the rest of the world. Among these, estimates cite that Asia-Pacific currently accounts for the largest market share and is likely to showcase similar growth trends in the ensuing years. Increased pervasiveness of chronic conditions coupled with increasing utilization of medical robots in China and Japan are positively swaying the business dynamics in Asia-Pacific.
On the other hand, North America is also slated to amass considerable revenue for global medical robots market by the end of the forecast period, primarily due to growing demand for surgical and hospital robots.
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*Global Medical Robots Market by Product & Services (Revenue, USD Billion, 2017-2027)*
· Services
· Robotic Systems
· Instrument & Accessories
*Global Medical Robots Market Application Spectrum (Revenue, USD Billion, 2017-2027)*
· Neurosurgery
· Physical Rehabilitation
· Pharmacy Applications
· Laparoscopy
· Others
*Global Medical Robots Market by Geographical Reach (Revenue, USD Billion, 2017-2027)*
*North America*
· Canada
· United States
*Latin America*
· Mexico
· Brazil
*Europe*
· France
· United Kingdom
· Germany
· Spain
· Italy
· Rest of Europe
*Asia-Pacific*
· South Korea
· Japan
· Australia
· China
· India
· Rest of Asia-Pacific
*Rest of the World*
*Global Medical Robots Market Competitive Terrain (Revenue, USD Billion, 2017-2027)*
· ARxIUM Inc.
· Smith & Nephew
· Medtronic plc
· Hocoma AG
· BD Rowa
· Omnicell Inc.
· Accuray Incorporated
· Stryker Corporation
· Intuitive Surgical Inc.
*Table of Content:*
*Chapter 1. Executive Summary *
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Medical Robots Market, by Region, 2018-2027 (USD Billion)
1.2.2. Medical Robots Market, by Products & Services, 2018-2027 (USD Billion)
1.2.3. Medical Robots Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
*Chapter 2. Global Medical Robots Market Definition and Scope *
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
*Chapter 3. Global Medical Robots Market Dynamics *
3.1. Medical Robots Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
*Chapter 4. Global Medical Robots Market: Industry Analysis*
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
*Chapter 5. Global Medical Robots Market, Product & service *
5.1. Market Snapshot
5.2. Global Medical Robots Market by Product & service Performance - Potential Analysis
5.3. Global Medical Robots Market Estimates & Forecasts by Product & service 2017-2027 (USD Billion)
5.4. Medical Robots Market, Sub Segment Analysis
5.4.1. Instrument & Accessories
5.4.2. Robotsic Systems
5.4.3. Services
*Chapter 6. Global Medical Robots Market, by Application *
6.1. Market Snapshot
6.2. Global Medical Robots Market by Application, Performance - Potential Analysis
6.3. Global Medical Robots Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Medical Robots Market, Sub Segment Analysis
6.4.1. Laparoscopy
6.4.2. Pharmacy Applications
6.4.3. Physical Rehabilitation
6.4.4. Neurosurgery
6.4.5. Other
*Chapter 7. Global Medical Robots Market, Regional Analysis*
*Related Report: *
*Surgical Robots Market Size, Application Potential, Competitive Market Share & Forecast, 2019 - 2025 *
Surgical Robots Market will exceed USD 24 billion by 2025, as per a new research report. Rising patient preference towards minimally invasive surgeries in developed as well as developing economies will propel surgical robots market growth in forthcoming years. Doctors have high preference for surgical robots as they are able to provide minimally invasive surgeries that reduce recovery time, discomfort and prolong pain. Moreover, factors such as reduced post-care discomfort, less need for blood transfusions and shorter hospital stay are some of the advantages of surgical robots that will drive the industry growth. Increasing technological advancements will boost the surgical robots market growth. Robot assisted surgeries are known for highest level of accuracy and precision across the globe.
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