Sarasota, FL -- (SBWire) -- 02/22/2019 --Zion Market Research has published a new report titled "Medical Robots Market by Product Type (Robotic Systems and Accessories and Instruments), by Application (Orthopedic, Neurology, Laparoscopic, Cardiology, and Others), and by End-User (Clinics, Ambulatory Surgical Centers, and Hospitals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global medical robots market was valued at approximately USD 6.62 billion in 2018 and is expected to generate around USD 24.6 billion by 2025, at a CAGR of around 20.8% between 2019 and 2025.
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Medical robots are used for various purposes, such as surgery, rehabilitation, and pharmacy automation. Rapid technological breakthroughs made in the field of medical robotics have increased the popularity of medical robots. Improving patient care is the core application of medical robots. The use of medical robots enables physicians to examine and cure patients in remote areas via telepresence. These remote-controlled robots can play a major role in minimally invasive surgeries by assisting surgeons. Medical robots also assist in the rehabilitation of people with disabilities.
The growing investments made for medical robot-related research and development, benefits of robot-assisted exercise in rehabilitation therapy, growing prevalence of cancer, orthopedic, and neurological disorders, increasing inclination toward minimally invasive surgical procedures, rising geriatric population, and growing applications of robot-assisted surgeries are likely to drive the global medical robots market in the future. Furthermore, the FDA approval and launch of new products, like da Vinci X robot by Intuitive Surgical Inc., is expected to further fuel the medical robots market in the upcoming years. Technological improvements made related to medical robotic systems due to the increased focus on research and development activities and tireless efforts made by governments of developing countries are projected to offer new growth opportunities to the market players in the medical robots market. Nonetheless, high cost associated with medical robots, strict guidelines, and lack of skilled professionals to handle robotic systems may restrict the global medical robots market over the estimated timeframe.
The global medical robots market is classified based on product type, application, and end-user. By product type, the medical robots market is segmented into robotic systems and accessories and instruments. The accessories and instruments segment held the largest market share in 2018. The robotic systems have been sub-segmented into non-invasive radiosurgery robots, surgical robots, pharmacy and hospital automation robots, and rehabilitation robots. Surgical robots have been further divided into cardiology robotic systems, neurological robotic systems, laparoscopic robotic systems, steerable robotics, and orthopedic robotic systems. Pharmacy and hospital automation robots have been further divided into IV robots and pharmacy automation robots. Rehabilitation robots have been further divided into prosthetic robots, therapeutic robots, exoskeleton robots, and assistive robots. The application segment includes orthopedic, neurology, laparoscopic, cardiology, and others. The neurology segment is expected to register the highest CAGR over the estimated timeframe, owing to the increased accuracy and improved superiority of medical robots. The end-user segment includes clinics, ambulatory surgical centers, and hospitals.
By region, North America is likely to dominate the global medical robots market in the future. This can be attributed to the growing prevalence of neurological and orthopedic disorders, the presence of leading market players, availability of advanced healthcare infrastructure, FDA approval for da Vinci X robot developed by Intuitive Surgical Inc., and quick implementation of latest technologies. The European medical robots market is likely to show substantial progress in the future, owing to the increasing cases of cancer and neurological disorders, growing geriatric population, favorable reimbursement scenario, and the presence of state-of-the-art healthcare infrastructure. The Asia Pacific medical robots market is projected to grow rapidly over the estimated timeframe due to the growing investments in the healthcare sector, training offered to surgeons for robot-assisted surgeries and increasing geriatric population. The Latin American medical robots market is anticipated to expand at a noteworthy rate over the forecast time period.
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Some key players of the global medical robots market are Stryker Corporation, Intuitive Surgical, Inc., Mazor Robotics Ltd., Hocoma AG, Hansen Medical Inc., Omnicell, Inc., Accuray Incorporated, Engineering Services Inc., Ekso Bionics Holdings Inc., and Kirby Lester LLC, among others.
This report segments the global medical robots market into:
Global Medical Robots Market: By Product Type
Robotic Systems
Non-Invasive Radiosurgery Robots
Surgical Robots
Cardiology Robotic Systems
Neurological Robotic Systems
Laparoscopic Robotic Systems
Steerable Robotics
Orthopedic Robotic Systems
Pharmacy and Hospital Automation Robots
IV Robots
Pharmacy Automation Robots
Rehabilitation Robots
Prosthetic Robots
Therapeutic Robots
Exoskeleton Robots
Assistive Robots
Accessories and Instruments
Global Medical Robots Market: By Application
Orthopedic
Neurology
Laparoscopic
Cardiology
Others
Global Medical Robots Market: By End-User
Clinics
Ambulatory Surgical Centers
Hospitals
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Global Medical Robots Market: By Region
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Global Medical Robots Market Is Anticipated to Reach Around USD 24.6 Billion by 2025
Global medical robots market expected to generate around USD 24.6 billion by 2025, at a CAGR of around 20.8% between 2019 and 2025. The growing investments made for medical robot-related research and development, benefits of robot-assisted exercise in rehabilitation therapy is boosting the global market.