The growing prevalence of chronic diseases such as cancer, diabetes to boost medical robots market growth

 

Medical Robots Market

Medical Robots Market by Product Type (Systems (Surgical Robots, Rehabilitation Robots, Non-invasive Radiosurgery Robots, Hospital and Pharmacy Robots, and Others) and Instruments & Accessories), by End User (Hospitals, Pharmacies, Rehabilitation Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

The global Medical Robots Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Medical robotics, are the robots which are used in the field of medical science. The medical robotic also known as surgical robots. These are used as the telemanipulators which listens to the surgeon’s activators on a side to regulate the effector on the other side. There are several robots in the segment of medical robots, they are surgical robots which let the medical operations to be conducted with better precision comparatively to human experts or permits the remote surgery at the time where a doctor is not available with the patient.

Competitive Landscape:

Major companies involved in the global medical robots market are avateramedical GmbH, Globus Medical Inc., Accuray Incorporated., Capsa Healthcare, LLC., Hocoma, Becton, Dickinson and Company, Parata Systems LLC, Intuitive Surgical Inc., Agilent Technologies, Inc., Stryker Corporation, BIONIK Laboratories Corp., Titan Medical, Inc., Aurora Biomed Inc., Abbott, Omnicell, Inc., THINK Surgical, Inc., F. Hoffmann-La Roche AG, Medtronic Plc., Siemens Healthineers AG, and Restoration Robotics, Inc.

Market Key Drivers:

The growing prevalence of chronic diseases such as cancer, diabetes and the MISs is expected to augment the growth of global medical robots market. For instance, as per IDF, around 537 million people suffer from diabetes in 2021.

The rising use of medical robots in the hospitals for treatment is anticipated to propel the growth of global medical robots market. For instance, in Turkey, medical robotic systems are utilized in a total of 32 centers in eight cities, and around 132 surgeons at present utilize this procedure.

Covid-19 Impact Analysis:

COVID-19 had an adverse impact on the sales of medical robots owing to short-term restrictions on elective operations globally; elective operations worldwide were restricted. As per the research, around 28 million operations were cancelled across the globe during the COVID-19 pandemic.

Key Takeaways:

The global medical robots market is expected to exhibit a CAGR of XX % during the forecast period due to the frequent launches of products and approval of the products. For instance, in Dec 2020, GE Healthcare is launching a new model of the angiography system it is known as Allia IGS 7 angiography system. 

Among regions, North America, Asia Pacific and Europe are anticipated to witness robust growth in the global medical robots market due to rising prevalence of bleeding diseases, increasing approvals of the products, launches by the key players. For instance, in January 2019, BIONIK Laboratories Corp. introduced Next-Generation InMotion ARM/HAND Robotic System for rehabilitation of severe strokes.