Global Healthcare Robotics Market To Witness CAGR of 20% During 2019-2025
Posted On May 06, 2019
The Global Healthcare Robotics Market is foreseen to reach USD 21.5 BN by the end of 2025. The market expects a whooping CAGR of 20% between 2019 and 2025. It was valued at USD 6.0 BN (by revenue) in 2018 as per the report released by Value Market Research. Healthcare robotic is an emerging field and there is a wide variety of medical application where they have been employed such as surgical robots, laboratory robots, tele-surgery, remote surgery, tele-consultation robots, and rehabilitation robots. Healthcare robots also help surgeons to perform surgeries with more precision and make it errorless. Medical robots increase the accuracy of surgeons and reduce the risk associated with the process by allowing surgeons to perform critical surgeries with precision. Along with their advantages, healthcare robots also have many challenges in the application of the medical field, such as safety and high cost leading to reluctance to accept this technology across the healthcare sectors.
Some of the major factors like rising demand of healthcare robots market are growth in geriatric population base, the rising prevalence of neurological and orthopedic medical condition, increasing demand for telemedicine, the advent of technological advancement in automation of healthcare industry, and increasing usage of robot-assisted procedures. Additionally, reduced medication errors using robots, the rise in healthcare expenditure and support from the government in the form of funding and grants are also propelling the growth of the global healthcare robots market. On the other side, high initial investment, and a dearth of skilled labors are some of the factors hampering the market growth.
The report "Global Healthcare Robotics Market Report By Applications (Neurology, Cardiology, Orthopedic, Laparoscopic, And Other), Type (Surgical Robots, Rehabilitation Robots, Telemedicine Robots, Pharmacy And Hospital Automation Robots, Non-Invasive Radiosurgery Robots, And Robotic Catheters) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025" provide comprehensive analysis and information according to categories such as market segments, geographies, and competitive landscape.
The market segmentation includes application, type, and region. By application, the market has been split into neurology, cardiology, orthopedic, laparoscopic, and other. Neurology has emerged as the largest application area owing to the rise in neurological disorders such as Alzheimer and depression. Also, technological developments of hardware and software of the NeuroMate system and introduction of robotic neurotechnologies with the enhanced scope of ergonomics and neurology will raise for high penetration of healthcare robotic system. By type, the market has been categorized into surgical robots, rehabilitation robots, telemedicine robots, pharmacy and hospital automation robots, non-invasive radiosurgery robots, and robotic catheters. Surgical robots are gaining high demand owing to rising demand for accurate laparoscopic surgeries, an increasing number of surgical procedures in geriatric population and rising cases of trauma injuries are the factors driving the segment growth. By region, the market has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, Asia-Pacific is dominating the market owing to the rising penetration of minimally invasive surgeries is one of the significant growth factors for this market. The advent of new technologies, such as capsule robot system, developed software, and imaging systems, in order to reduce the complications in surgical procedures, is also expected to fuel the market growth over the period.
The Report Segments Global Healthcare Robotics Market -
- Surgical Robots
- Rehabilitation Robots
- Telemedicine Robots
- Pharmacy And Hospital Automation Robots
- Non-Invasive Radiosurgery Robots
- Robotic Catheters
- North America
- Latin America
- Middle East and Africa
Players Profiled In The Report:
Accuray Inc, Aurora Biomed Inc, Biotek Instruments Inc., Ekso Bionics Holdings Inc, Hansen Medical Inc, Hocoma, Intuitive Surgical Inc, Irobot Corporation, Kirby Lester Llc, MAKO Surgical Corp, Mazor Robotics Ltd, Roche Holding AG, Titan Medical Inc, Varian Medical Systems, and ZOLL Medical Corp.
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