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Medical Robots Market Worth $20.70 Billion, Globally, by 2027 at 14.2% CAGR: Verified Market Research

The rise in the applicability of robot-assisted training in Rehabilitation Therapy as well as the growth of technological innovations, the increased disbursements and funding for medical robot startups are driving the market growth

JERSEY CITY, New Jersey, June 25, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Medical Robots Market by Product (Instruments & Accessories, Robotic Systems), by Application (Laparoscopy, Orthopedic Surgeries, Neurosurgeries, Pharmacy Applications)". According to Verified Market Research, the Global Medical Robots Market was valued at USD 7.15 Billion in 2019 and is projected to reach USD 20.70 Billion by 2027, growing at a CAGR of 14.2% from 2020 to 2027.

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Medical Robots Market"
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Global Medical Robots Market Overview

The rise in the applicability of robot-assisted training in Rehabilitation Therapy is the primary aspect of driving the market growth. The Robotic Rehabilitation Therapy delivers high-dosage and intensity training, which makes it useful for patients with motor disorders caused by stroke or spinal cord disease. Robotic devices used for motor rehabilitation consists of end-effector and exoskeleton. The application of robot-assisted therapy is the improvement of gait function in patients suffering from a stroke. In May 2019, Bionik, a robotics company that is focused on enabling rehabilitation and assistive solutions to patients suffering from neurological disorders, declared the completion of Robot-Assisted Training for the Upper Limb after Stroke (RATULS) trial by applying the Companies In Motion Robotic Therapy Systems. The growth of technological innovations is expected to furnish the market growth. There are five recent trends in medical robotics. The blood nanobots, who emulate the individual's WBCs to combat diseases. Others are Melanoma detecting machines, to curb the count of frequent biopsies, the FDA approved remote presence robot, Bon Appetit with Bestic and PARO, a medical robot seal used as a stuffed animal,  to heal children with developmental disabilities. The increased disbursements and funding for medical robot startups are likely to increase the market economy. For instance, the Medrobotics Corporation is a medical robotics company that is developing and commercializing the Flex Robotic System that gives physicians the skill to access anatomical locations that were impossible to reach minimally invasively.

The increased demand for minimally invasive surgeries by the patient population is the rising opportunity to improve market growth. The robot-assisted operation allows the doctors to perform various types of complex procedures with specific accuracy, flexibility, and control than the conventional approach. The surgery is usually minimally invasive and performed through small incisions. Using robotic surgery, the clinicians can perform delicate and complex procedures that may have been difficult to achieve with other methods. The major players in the market are Intuitive Surgical, Stryker Corporation, Hocoma, Mazor Robotics, Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics), Accuray, Omnicell, ARxIUM, Ekso Bionics, Kirby Lester.

Verified Market Research has segmented the Medical Robots Market on the basis of Product, Application and Geography.

  • Medical Robots Market by Product
    • Instruments and Accessories
    • Robotic Systems
  • Medical Robots Market by Application
    • Laparoscopy
    • Orthopedic Surgeries
    • Neurosurgeries
    • Pharmacy Applications
  • Medical Robots Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Medical Robots Market Worth $20.70 Billion, Globally, by 2027 at 14.2% CAGR: Verified Market Research

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Last Updated: 25-Jun-2020