The Global Market for Medical Robots is Projected to Reach US$4.3 Billion by 2022

Growing Acceptance of Robotics in Patient Rehabilitation and Surgical Procedures to Drive the Global Medical Robots Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Medical Robots market. The global market for Medical Robots is projected to reach US$4.3 billion by 2022, driven by the growing acceptance of robotics inpatient rehabilitation and surgical procedures and technological advancements aimed at improved surgical outcomes.

Medical robotics encompasses robots that find use in various medical applications including surgery, mobility assistance, rehabilitation, patient monitoring, and drug administration among others. Over the past decade, robotics technology has evolved from providing limited medical care to offering a broad range of functions including patient rehabilitation and surgical procedures with more efficacy and competence. Future growth in the market will be driven by factors such as technological advancements aimed at improving surgical outcomes and bringing down equipment prices to make them affordable.

Surgical robots represents the largest segment with more than 50% of market share, on account of growing demand for minimally invasive surgery and increasing adoption of robotic equipment in hospitals. Use of surgical robots for procedures such as knee and hip implants is led by better patient outcomes, improved pre-operative planning and guided implementation, reduced blood loss and fewer adverse events during surgery. The enhanced precision and control offered by robotic systems allows surgeons to perform procedures such as prostate surgery while preserving healthy tissue. Introduction of latest technologic advancements such as 3D-imaging, advanced data recorders, data analytic systems, HD microscopic cameras, motion sensors, and remote navigation systems are further expected to drive adoption of medical robots in surgical procedures. Rehabilitation robotics is emerging as a key growth area in the field of medical robotics, led by the ever-increasing demand for rehabilitative care from vulnerable population groups such as the disabled, elderly, infirm, and paralyzed. Acute shortage of healthcare workers is also fuelling the need for robotic assistance and companionship. With aging population contributing towards the increase in various health ailments including strokes, Cerebral palsy, Multiple sclerosis and Parkinson’s disease, the potential for growth remains bright.

As stated by the new market research report on Medical Robots, the United States represents the largest market worldwide. Asia Pacific is forecast to emerge as the fastest growing market with a CAGR of 21.3% over the analysis period, led by factors such as growing focus on highest quality of care at the lowest cost; the rise in acceptance of and confidence in robotic-assisted surgeries; steady increase in facilities providing robotic-assisted surgeries; increasing number of Asian companies, universities and governments entering into collaboration with international players to develop affordable medical robots; and acute need to supplement the shortage of medical skills and registered medical professionals with intelligent machines.  

Major players in the market include Accuray, Inc., Aesynt Incorporated, Epson Robots, Hansen Medical, Intuitive Surgical, Mazor Robotics Ltd., Restoration Robotics Inc.,Smith & Nephew Plc, Stryker Corporation, and Titan Medical among others.

The research report titled “Medical Robots: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, and Rest of World.

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