A closer look at the aspects including but not limited to Medical Robots Market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report.
New York, NY -- (SBWIRE) -- 03/10/2021 -- The global medical robots market is expected to reach USD 27.05 Billion by 2027, according to a new report by Reports and Data. Key factors driving the growth of the market is the use of medical robots to release healthcare personnel from routine tasks to devote their time to further pressing responsibilities, and make medical procedures cost-effective and safer for patients. AI diagnostics is one of the fields which requires widespread use of medical robots. The uses AI for in diagnostics are extensive, but there are a few instances worth mentioning, comprising the FDNA system which deploys facial recognition software for screening of patients to detect more than 8000 maladies and rare genetic disorders with an extremely high degree of precision.
The growing demand for medical robots in minimally invasive surgeries is boosting the product sale. Benefits offered by robotic surgery comprises of enhanced dexterity, greater visualization, greater precision. It is an advanced form of minimally invasive surgery, enabling surgeons to use a computer-controlled robot to operate in very tight spaces in the body that would else only be accessible through open surgery. Surgical robots are self-powered devices that can be programmed to assist in the setting and handling of surgical instruments, offering surgeons with greater flexibility, accuracy, and control. Developed by Virtual Incision Corp, the miniature robotic system provides assistance in performing minimally invasive colon resection procedures for people suffering from colon cancer, Crohn's disease, ulcerative colitis, and diverticulitis.
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Key participants include:
- Stryker Corporation
- Intuitive Surgical
- Mazor Robotics
- Kirby Lester
- Esko Bionics
- Johnson & Johnson
- among others.
Hospitals in several countries across the globe are deploying medical robots, to prevent doctors and medical staff from getting infected with coronavirus, for serving food and medicines to infected patients through COBOT-Robotics. Such measures are adopted to contain the spread of the virus following the idea of social distancing.
The UVD-Robots developed by Blue Ocean Robotics operate autonomously and move around COVID-19 patients' operating theatres and rooms, covering crucial surfaces with virus and bacteria-killing UV light.
Further key findings from the report suggest
- By product type, surgical robotic systems dominated the market in 2019 and is likely to grow at a rate of 16.2% in the forecast period. Surgical robots enable surgeons to operate with utmost precision. Areas of the human body that are difficult or impossible to reach with the human hand can be accessed using the robotic system, where the arms can rotate about 280 degrees. The Renaissance guidance system provided by Mazor Robotics is an all-inclusive surgical solution meant for spinal procedures.
- By application, neurology is estimated to grow at the fastest rate of 17.6% in the forecast period, owing to the use of medical robots in decreasing procedure time and improving safety in neurosurgery in both frame and frameless procedures.
- By end-users, hospitals held the largest market share in 2018 and is likely to grow at a rate of 15.4% in the period 2020-2027.
- The market in the Asia Pacific region is anticipated to grow at the fastest rate of 17.9% in the period 2020-2027, attributed to the imminent demand for sophisticated healthcare facilities and the growing prevalence of gynecological diseases, among others.
- Medrobotics, Corindus, CMR Surgical, HistoSonics, Embodied, EndoMaster, and ICan Robotics, among others, are some of the start-up companies in the market.
- In September 2019, Stryker Corporation, a leading market player, made an investment of USD 370.0 Million to acquire two firms, namely Cardan Robotics, it is developing a robot named Orion proposed to assist navigation in interventional and surgical radiology procedures, and Cardan's sister company Mobius Imaging, making the Airo TruCT scanner. The acquisition is likely to bring expertise in advanced imaging and robotics, along with a robust product pipeline, which would give Stryker the opportunity to upsurge its presence in Spine, Orthopedics, and Neurotechnology. Moreover, this initiative would enable Stryker to provide improved healthcare procedural solutions, including sales, service, and support.
- In September 2019, Medtronic launched the Hugo RAS system, an innovative robot-assisted surgery platform with better flexibility and cost-effectiveness as compared to other systems. The system is Medtronic's strategy to stay competitive in the growing market that is dominated by leading players such as Intuitive surgical. This product launch is intended to increase the number of robotically-assisted surgeries (currently around 2.0% of surgeries are performed with robotic-assistance).
For the purpose of this report, Reports and Data have segmented the global medical robots market on the basis of product type, application, end-users, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Surgical Robotic Systems
- Assistive & Rehabilitation Systems
- Hospitals & Pharmacy Robotic Systems
- Non-Invasive Radiosurgery Robotic Systems
Application Outlook (Revenue, USD Million; 2017-2027)
End-Users Outlook (Revenue, USD Million; 2017-2027)
- Ambulatory Surgical Centers
- Pharmaceutical & Biotechnology Industries
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Medical Robots Segmentation & Impact Analysis
4.1. Medical Robots Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing application in orthopedic and neurosurgery, among others
188.8.131.52. Growing demand for assistive and rehabilitation purposes
184.108.40.206. Advancement in technology
220.127.116.11. Increasing geriatric population
18.104.22.168. Growing demand for minimally invasive surgeries
4.2.3. Market restraints analysis
22.214.171.124. Strict policies and regulation
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