New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Robots Global Market Report 2023" - https://www.reportlinker.com/p06433786/?utm_source=GNW
, ReWalk Robotics , Medrobotics Corporation, McKesson Corporation, Hocoma AG, Cyberdyne Inc., and BD Rowa.
The global medical robots market grew from $11.17 billion in 2022 to $13.25 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The medical robots market is expected to grow to $26.43 billion in 2027 at a CAGR of 18.9%.
The medical robot market consists of sales of radiotherapy machine robots, laboratory robots, robotic prosthetics, and social robots.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A medical robot is an expert service robot that refers to a type of multipurpose device used in and outside of hospitals to raise the standard of care provided to patients, and it is employed in complicated surgical procedures, limb replacement, stroke patient rehabilitation, and other health-related duties. The medical robot is used in the medical sciences to help with surgeries, improve patient care and worker safety, and streamline clinical workflow and hospital logistics.
North America was the largest region in the medical robot market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the medical robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of medical robots are hospital and pharmacy robotic systems, surgical robotic systems, noninvasive radiosurgery robotic systems, rehabilitation robotic systems, and others.Hospital and pharmacy robotic systems refer to the robots used to distribute medicine to patients and to be involved in the automation of common tasks and processes performed in a pharmacy or other healthcare settings.
The solutions include on-premises and cloud and are applied in cardiology, laparoscopy, pharmacy, neurosurgery, orthopedic surgery, and others used by various end-users such as specialty centers, hospitals and clinics, rehabilitation centers, and others.
The rising demand for precise and proper laparoscopic operations is expected to propel the growth of the medical robot market going forward.The laparoscopic operation allows a surgeon to perform complex procedures within the abdomen without having to place his hands directly into the body cavity.
Medical robots are more efficient at performing laparoscopic procedures.As a result, there is rising demand for precise and proper laparoscopic operations that boost market growth.
For instance, in March 2022, the Cleveland Clinic, a US-based nonprofit academic medical centre, stated that over 13 million laparoscopic procedures have been performed globally every year and are projected to grow by 1% over the next five years. Therefore, the rising demand for precise and proper laparoscopic operations is driving the growth of the medical robot market.
Technological advancements are a key trend gaining popularity in the medical robot market.Major companies operating in the medical robot market are focused on developing new technological solutions to strengthen their position.
For instance, in April 2022, Diligent Corporation, a US-based healthcare robotics company, created Moxi, an AI-enabled robot that can handle time-consuming logistical tasks in hospitals such as setting up patient rooms and replenishing supplies.Moxi is able to deliver teleboxes, manage the "do not tube" medications, and pick up patients’ personal items.
Moxi’s core technical features comprise social intelligence, mobile manipulation, and human-guided learning. This launch represents another step forward for Diligent’s product portfolio.
In February 2021, Ascendum Capital, a China-based company specializing in healthcare-focused investment platforms, acquired EndoWays Ltd for an undisclosed amount.This acquisition would accelerate EndoWays clinical and commercial development, especially in China, by leveraging the experience and network of Ascendum’s team.
EndoWays Ltd is an Israel-based robotics company. The company features a software platform called the microcatheter which is designed to allow interventional radiologists to cross tortuous anatomy, and reduce procedure time and radiation exposure to patients and the medical staff.
The countries covered in the medical robot market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The medical robots market research report is one of a series of new reports that provides medical robots market statistics, including medical robots industry global market size, regional shares, competitors with a medical robots market share, detailed medical robots market segments, market trends and opportunities, and any further data you may need to thrive in the medical robots industry. This medical robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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