Press release
Medical Robotics Market 2023 : Analysis By Top Key Players, Industry Trends, Size And Regional Outlook 2032 | Medtronic plc, Titan Medical, Inc., Stryker Corporation, Smith & Nephew plc, ReWalk Robotics
Medical Robotics Market Growth
The Business Research Company's Medical Robotics Global Market Report 2023 identifies rising preference for minimally invasive surgery (MIS) as the major driver for the Medical Robotics market's growth in the forecast period. Minimally invasive surgery refers to surgery that involves a variety of techniques, including applications of medical robots to operate with less damage to the body than with open surgery. There is a rise in minimally invasive surgeries as they are increasingly being preferred by patients due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, and others.
The global medical robotics market size grew from $11.14 billion in 2022 to $13.11 billion in 2023 at a compound annual growth rate (CAGR) of 17.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The medical robotics market size is expected to grow to $25.47 billion in 2027 at a CAGR of 18.1%.
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Major competitors in the Medical Robotics market are Medtronic plc, Titan Medical, Inc., Stryker Corporation, Smith & Nephew plc, ReWalk Robotics, Renishaw PLC., Mazor Robotics, Irobot Corporation, Intuitive Surgical, Hocoma AG, Hansen Medical, Ekso Bionics, Accuracy Inc., Globus Medical, Houston Medical Robotics, Kinova robotics, Kirbey, Kuka Roboter GmbH, and Varian Medical Systems are major players
A key trend in the Medical Robotics market includes Strategic collaboration between companies. Companies in the medical robotics industry are undergoing various collaborations to develop new technologies and products. For instance, in February 2022, a US-based advanced photonics company Novanta announced a strategic collaboration with a US-based robotics and AI company MassRobotics to advance innovations in medical and surgical robotics. Novanta's business units, namely Celera Motion and ATI Industrial Automation, will collaborate with MassRobotics to develop advanced innovations in medical or surgical robotics and improve robotic productivity.
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The Medical Robotics market is segmented -
By Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-invasive Radiosurgery Systems
By Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
By End-User: Hospitals And Clinics, Specialty Centers, Rehabilitation Centers
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Medical Robotics market.
The Business Research Company's "Global Medical Robotics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Medical Robotics Market Include:
1. Executive Summary
2. Medical Robotics Market Characteristics
3. Medical Robotics Market Trends And Strategies
4. Medical Robotics Market - Macro Economic Scenario
5. Medical Robotics Market Size And Growth
……
26. Africa Medical Robotics Market
27. Medical Robotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Robotics Market
29. Medical Robotics Market Future Outlook and Potential Analysis
30. Appendix
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