Medical Robots Market is likely to register CAGR of 20.1% through 2032

In the end of 2021, the worldwide medical robots market was estimated to be worth approximately US$ 8.5 billion. The market is expected to grow at a 20.1% CAGR and reach a value of US$ 63.7 billion by 2032.

Medical robots are professional service robots used both within and outside of hospitals to improve the quality of care given to patients. It enables surgeons to execute more precise surgeries. They lessen medical staff strain, allowing them to devote more time to direct patient care, while also generating a substantial operational method that offers efficacy and low-cost investments in healthcare amenities. This is one of the fastest expanding industries, with medical robot applications ranging from laparoscopy to neurosurgery, cardiology, and orthopaedic surgery.

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Advent of Telehealth and Virtual Care to Create Tailwind for the Medical Robots Market Growth

Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.

During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.

Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Medical Robots market.

Key Medical Robots Market Takeaways and Projections

• The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
• Germany Medical Robots market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
• China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
• India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.

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Report Benefits & Key Questions Answered

• Medical Robots Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Medical Robots market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
• Medical Robots Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Medical Robots market. As per the survey, Medical Robots sales will project steady growth over the forecast period.
• Medical Robots Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Medical Robots market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
• Medical Robots Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.

Competitive Landscape Analysis

The latest study conducted by FMI provides in-depth insights into the global Medical Robots market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Medical Robots market.

Some of the prominent market players are profiled by FMI are:

iRobot Corporation, Medrobotics Corporation, Titan Medical Inc., Renishaw Plc, Health Robotics SLR, OR Productivity plc, Intuitive Surgical, Mako Surgical Corp., Varian Medical Systems, Stereotaxis Inc., Mazor Robotics, Medtronic, Stryker, Zimmer Biomet, Smith & Nephew

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Medical Robots Demand Analysis by Category

By Product:

• Instruments and Accessories
• Surgical Robots
• Assistive Robots
• Hospital and Pharmacy automation robots

By Application:

• Neurology Applications
• Orthopaedic Applications
• Cardiology Applications
• Laparoscopic Applications
• Pharmacy Application
• Others

End User:

• Hospitals
• Ambulatory Surgery Centers
• Rehabilitation Centers
• Others

Region

• North America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa