Press release
Global Medical Robots Market is predicted to grow US$ 40 Bn by 2032 at a CAGR 17.4%
The global medical robots market is expected to reach a valuation of US$ 40 Bn by 2032 from US$ 8.1 Bn in 2022, rising at a steady CAGR of 17.4% throughout the forecast period.Medical robotic trends, the benefits of robotic-assisted surgery, and robot-assisted rehabilitation treatment training are just some of the causes driving demand for medical robots.
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In addition, medical robots are becoming increasingly effective at performing laparoscopic procedures, and new and improved procedure-specific robots are being introduced to the global market. As a result, during the anticipated period, demand for medical robots is likely to skyrocket.
Other advantages include fewer post-operative problems, shorter hospital stays, and cheaper surgery costs. As a result, the global medical robots market is predicted to increase gradually over the next few years.
Key Takeaways
With a CAGR of 17.2 percent, the gastrointestinal surgery category is expected to hold the greatest proportion of the medical robots market.
The instruments and accessories segment held the highest proportion of the medical robot market throughout the forecast period. This segment is predicted to grow at a CAGR of 18.5 percent over the forecast period.
Hospitals are estimated to account for the largest proportion of the global medical robots market in 2032, with a CAGR of 16.8%, due to increased use of medical robots in hospitals and increasing robotic surgery procedures done in hospitals.
The medical robots market in the United States is estimated to be the most promising regional market, with a CAGR of 16.4% and a market size of US$ 13.4 billion by 2032, owing to increased adoption of new technologies.
The China medical robots market is expected to increase at a CAGR of 16.5 percent over the forecast period.
The UK market for medical robots is predicted to grow at the fastest rate of 17.5 percent throughout the forecast period. Due to an increase in the number of medical research and development institutes striving to spread these applications to other regions of the world, the market is rising.
The Latin American medical robots market is expected to rise at a large rate in the next years, owing to an increase in the frequency of different health conditions. Furthermore, demand for medical robots is rising, and most countries' emerging economies are assisting in the growth of this regional market.
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Competitive Landscape
According to PMR's new study on the medical robots market, the competitive landscape is fragmented, with multiple companies present. Intuitive Surgical, Stryker Corporation, Omnicell, BD Rowa, ARxIUM are some of the key players in the medical robots market.
The medical robots market growth and competitiveness are aided by Western partnerships to promote healthcare, manufacturers of medical robots, and numerous government collaborations with regional universities for research and development. To increase their market share and profit margins, many companies rely on strategic collaborative initiatives.
Recent Developments in Medical Robots Market
The MAKO robotic surgery system for partial knee replacement received regulatory certification in Japan in 2020 from Stryker Corporation (US).
In 2020, Accuray (US) launched the CyberKnife S7 System, a next-generation CyberKnife platform that provides advanced precision, real-time artificial intelligence (AI)-driven motion tracking, and synchronised treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments.
In 2020, Medtronic (Ireland) acquired Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modelling, and patient-specific implants.
The da Vinci Single-port Surgical System was approved by the FDA in 2019 by Intuitive Surgical (US).
Stryker Corporation (US) purchased Mobius Imaging, LLC and Cardan Robotics in 2019. (US). This acquisition boosts the company's imaging and robotics capabilities, as well as its research and development capabilities.
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Key Questions Answered in This Report.
What are the Roadblocks for Medical Robots Market Suppliers?
What are the Key Opportunities for Medical Robots Market Manufacturers?
How is Focus on Safety Influencing Medical Robots Market Demand?
What is the Regulatory Impact on Global Sales of Medical Robots Market?
Which Region Offers the Largest Opportunity for Sales of Medical Robots Market?
Where Does the U.S. Stand in the Market for Medical Robots Market?
What Is the Outlook for Medical Robots Market Manufacturers in China?
Why is Germany a Lucrative Market for Medical Robots Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Medical Robots Market?
Why is There High Demand for Tires in Medical Robots Market?
Why are Sales of Medical Robots Market Surging?
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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