The global medical robotics market size is expected to grow from $9.45 billion in 2021 to $11.24 billion in 2022 at a compound annual growth rate (CAGR) of 18.97%. The change in the medical robotics market growth trend is mainly due to companies' stabilising their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $22.26 billion in 2026 at a CAGR of 18.63%.
What is the Global Medical Robotics Market?
The medical robotics market consists of sales of medical robotics products and services by entities (organizations, sole traders, and partnerships) that offer robotic systems to assist in medical procedures, develop healthcare technology, and improve overall health care. Medical robotics technology is used in the healthcare industry for surgeries, radiotherapy treatment plans, rehabilitation therapy sessions and others.
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What drives the Global Medical Robotics Market?
The rising preference for minimally invasive surgery (MIS) is significantly contributing to the growth of the medical robotics market. Minimally invasive surgery refers to surgery that involves a variety of techniques, including applications of medical robots to operate with less damage to the body than with open surgery. There is a rise in minimally invasive surgeries as they are increasingly being preferred by patients due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, and others. For instance, results of the research, conducted by Johns Hopkins investigators and published in JAMA Surgery, indicate that American hospitals could collectively prevent thousands of post-surgical complications and save between $280 million and $340 million a year by using more minimally invasive procedures instead of traditional open surgery for routine operations of the appendix, colon, and lungs. Similarly, according to data from the Michigan Surgical Quality Collaborative, robot-assisted procedures accounted for 15.1% of all general surgeries in 2018, up from just 1.8% in 2012. Therefore, the rising preference for minimally invasive surgery drives the medical robotics market.
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Global Medical Robotics Market Segments
The global medical robotics market is segmented:
By Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-Invasive Radiosurgery Systems
By Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
By End-User: Hospitals and Clinics, Specialty Centers, Rehabilitation Centers
By Geography: The regions covered in the medical robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Medical Robotics Global Market Report 2022provides market size and growth forecasts for the global medical robotics market, global medical robotics market share, medical robotics market segments and geographies, medical robotics market competitive landscape including leading competitors’ revenues, profiles and market shares. The medical robotics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Medical Robotics Industry Playersinclude Medtronic plc, Titan Medical, Inc., Stryker Corporation, Smith & Nephew plc, ReWalk Robotics, Renishaw Plc, Mazor Robotics, Irobot Corporation, Intuitive Surgical, Hocoma AG, Hansen Medical, Ekso Bionics, Accuracy Inc, Globus Medical, Houston Medical Robotics, Kinova robotics, Kirbey, Kuka Roboter GmbH, and Varian Medical Systems. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
