Healthcare Robotics Market Worth USD 34.79 Billion in 2027: Shift Towards Innovative Robotic Surgical Procedures and Treatment are Key Factors Driving Industry Growth, says Emergen Research
Vancouver, British Columbia--(Newsfile Corp. - May 3, 2021) - The global healthcare robotics market size was USD 7.34 Billion in 2019 and is expected to reach USD 34.79 Billion in 2027 and register a CAGR of 21.6% over the forecast period. Some key factors driving steady market revenue growth include steady shift towards more automation in the healthcare industry and rising focus and development of more advanced and innovative robotic surgical treatment.
Healthcare involving a medical robot or similar non-human actor in medical sciences can be termed a medical robot. Advancements in technology, materials, software, materials, and hardware, as well as research and development initiatives are some major factors that have resulted in rapid and exciting evolution in medical robotics and technologies currently in use globally. Primarily robotic technologies have been developed for applications in a range of areas that directly affect patient care.
Robots have been developed to disinfect patient rooms and operating theaters, wards, and laboratories, in order to reduce potential risks for patients and medical personnel. Besides these applications, robots have also been developed to prepare and dispense medications in pharmacological labs due to the potential risks in such settings as well as the higher efficiency and durability of this extension of no-human medical personnel.
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Use of advanced medical robots enable surgeons to attempt and successfully execute complex and life-changing surgical procedures with more dexterity, and skillfully manipulate surgical instruments or catheters inside a patient's body during minimally invasive surgeries. Surgeons are able to control various surgical instruments using joysticks or telemanipulators, similar to the experience of playing a video game and moving virtual objects or conducting virtual procedures, only with much more risk involved in the event of fouling up or failing at a task. Most telemanipulators, or waldo, are operated electronically, hydraulically, or have mechanical linkages, which allows a hand-like mechanism to be controlled by a human operator. These devices respond to a surgeon's activators, either onsite of remotely, to control the 'effector' on the other side and mimic the actions in real-time.
Robotic surgical procedures conducted on patients in healthcare settings are proving to be significantly beneficial and offer advantages including reduced pain and discomfort, faster recovery time and return to normal activities, smaller incisions, which result in reduced infection risk. This also translates to reduced blood loss and transfusions, as well as minimal scarring.
Rapid adoption of continuously advancing technologies due to rising need to ensure minimal patient risk, potential of human error, and to reduce faults during surgical procedures, along with reduction of surgery costs are also major factors boost growth of the global healthcare robotics market.
However, high costs of healthcare robotics solutions, machinery, devices, and equipment, as well as some limitations with regard to effective functionality of robots are key factors expected to restrict growth of the market to some extent over the forecast period. This is due to the fact that robotic surgical procedures are comparatively expensive, require more time than conventional surgical procedures, need to follow stringent guideline, and required equipment and associated training for the procedure adds up to end costs eventually.
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Major Companies in the healthcare robots market Report:
The global healthcare robots market is fragmented, with a substantial number of large and medium-sized players accounting for significant global market revenue. Key players in the market are well-established with robust manufacturing facilities, and are also engaged in various research and development activities to develop and introduce more advanced technologies and solutions in the market. Some key players in the global healthcare robots market are:
- Stryker Corporation
- InTouch Technologies, Inc.
- Medrobotics Corporation
- Intuitive Surgical, Inc.
- Mazor Robotics Ltd.
- Zimmer Biomet Robotics
- Renishaw plc
- Aethon Inc.
- Hocoma Inc
- Omnicell, Inc.
Segments Covered in this Report
This report offers historical as well as forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each segment and sub-segment from 2018 to 2027.
Emergen Research has segmented the global healthcare robotics market based on type, application, portability, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Robotic Systems
- Noninvasive Radiosurgery Robots
- Emergency response robotic systems
- Hospital and Pharmacy Robots
- Rehabilitation Robots
- Neurosurgical Robotic Systems
- Noninvasive Radiosurgery Robots
- Surgical Robots
Application Outlook (Revenue, USD Billion; 2017-2027)
- Orthopedic Surgery
- Pharmacy Applications
Portability Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Rehabilitation Centers
- Specialty Centers
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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