LOS ANGELES, March 22, 2021 (GLOBE NEWSWIRE) -- The Global Healthcare Robots Market is expected to grow at a CAGR of around 21.3% from 2020 to 2027 and reach the market value of over US$ 32.5 Bn by 2027.
The healthcare robots market is anticipated to exhibit significant growth over the forecast period from 2020 to 2027. The ongoing investment in the healthcare sector for the development of advanced infrastructure is supporting the regional market value. The benefits associated with the robots in the various surgical and nonsurgical application of the healthcare sector is further propelling the regional market value.
The global healthcare robots market is segmented on the basis of products, applications, components, end-user, and geography. On the basis of product, the market is bifurcated into surgical robots, rehabilitation robots, telemedicine robots, pharmacy and hospital, automation robots, non-invasive radiosurgery robots, and robotic catheters. The applications in healthcare robots include neurology applications, cardiology applications, orthopedic applications, laparoscopic applications, and others.
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Moreover, the components sub-segments include safety systems, locomotion systems, user interface, software platforms, power resources, and visualization systems. The end-user of healthcare robots includes hospitals, ambulatory surgery centers, rehabilitation centers, and others.
On the basis of end-user, hospitals have the dominating share in the global healthcare robots market and are also estimated to continue with their dominance throughout the estimated period. The presence of a favorable environment for surgical robots in hospitals is contributing to the growth. The huge number of patients’ reliability on the hospital staff and treatment procedure is additionally bolstering the growth. Moreover, increasing investment in robotic surgery in bigger hospitals especially in developing economies across the globe is propelling the segmental market value.
North America is leading the healthcare robots market with a prominent share in terms of revenue (US$ Mn) in 2019. The region is having a potential share (%) owing to the prominent US economy, which is known for its advance and highly developed healthcare infrastructure. The continuous development coupled with the investment is anticipated to support the growth during the forecast period from 2020 to 2027.
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Asia Pacific along with its major developing economies like China and India are anticipated to experience the fastest growth over the estimated period from 2020 to 2027. The increasing number of patients with chronic diseases, rising spending power of people on healthcare services, as well as increasing focus of global manufacturers in the regional market are contributing to the regional market growth.
Some of the leading competitors are Accuray Inc, Aurora Biomed Inc, Biotek Instruments Inc., Ekso Bionics Holdings Inc, Hansen Medical Inc, Hocoma AG, 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. Major players are continuously involved in the development of advanced solutions in healthcare robotics.
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Some of the key observations regarding the healthcare robots industry include:
- The US-based Stryker Corporation received regulatory approval in 2020 for MAKO robotic surgery system in Japan for knee replacement surgeries. In 2019, Stryker Corporation has acquired US-based Cardan Robotics and Mobius Imaging, LLC. This strategic acquisition has brought expertise in advanced imaging and robotics, as well as has expanded the robotics product pipeline, additionally intended to create potential growth opportunities in the healthcare robotics market in near future.
- The US-headquartered Accuray Incorporated has launched the CyberKnife S7 System in 2020. It’s a next-generation device that combines advanced precision with speed, and real-time artificial intelligence (AI) driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) & stereotactic body radiation therapy (SBRT) treatments.
- Ireland based Medtronic plc has acquired Medicrea in 2020 and the company now owns more than 90% of Medicrea's share capital and voting rights. Medicrea is a pioneer in the transformation of spinal surgery through artificial intelligence (AI), predictive modeling, and patient-specific implants. The strategic acquisition is anticipated to expand the company’s market share in the near future.
- The US-based Intuitive Surgical has received the US FDA clearance for the da Vinci Single-port Surgical System in 2019.
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