The medical robots market is projected to grow at a CAGR of 12.96% to reach US$4090.663 million by 2024, from US$1968.884 million in 2018. Hospitals make use of medical robots worldwide for tasks requiring precision and promptness. In the United States and Europe, robots are used for mixing and measure medicines especially those used in chemotherapy. These are very helpful in avoiding the chances of human error which otherwise can cause deleterious effects. Increase in funding for medical robots, technological advancements and issuing IPOs by the medical robot companies are some of the driving factors driving the growth of the global medical robots market in the forecast period. Also, with the adoption of minimally invasive surgeries, surgical robots are in high demand emanating the market growth in the coming years and beyond. Major applications of medical robots include telepresence, surgical assistants, rehabilitation robots, medical transportation robots, sanitation, and disinfection robots, and many more.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the medical robots value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the medical robots market.
Major industry players profiled as part of the report are Intuitive Surgical, Inc., Stryker, Hocoma, Mazor Robotics, and Auris Health Inc. among others.
The medical robots market has been analyzed through the following segments:
Surgical Robotic Systems
Rehabilitation Robotic Systems
Pharmacy Robotics Systems
Non-Invasive Radiosurgery Robotics Systems
Middle East and Africa