Medical Robots Market is grow at a CAGR of 12.4% by 2031 | Intuitive Surgical, Stryker Corporation, Hocoma, Mazor Robotics

The global medical robots market was valued at USD 10.6 billion in 2021 and it is anticipated to grow further till USD 34.3 billion by 2031, at a CAGR of 12.4% during the forecast period.

Medical robots are professional service robots that are utilized both within and outside of hospitals to raise the standard of care provided to patients. They lessen the workload of medical professionals, allowing them to devote more time to actively caring for patients, and they establish extensive operational procedures that result in effectiveness and lower investments in healthcare amenities.

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Market Trends and Drivers

The main factor propelling market growth is the expansion of robot-assisted training’s applications in rehabilitation therapy. Robotic rehabilitation therapy provides high-dose and intense training, making it beneficial for patients with motor problems brought on by spinal cord illness or stroke. End-effector and exoskeleton are the main components of robotic devices used for motor rehabilitation. The use of robot-assisted therapy is for patients recovering from strokes to have better gait function.

Market Restraints and Challenges

The restraints incurred are the safety apprehensions of Medical Robots. Many factors can cause safety problems for Medical Robots, the human error where wrong instructions are fed into the robotic system. The system error also occurs, such as the hardware being triggered by software. The challenge to overcome in introducing Medical Robots in the hospital is the upfront cost to be taken.

Based on the product, it is segmented into instruments & accessories, and robotic systems. It is anticipated that over the forecast period, the Robotic Segment will hold the greatest market share. The expansion of this market may be attributed to the increasing use of technical advancements like speech recognition, adaptive programming, better sensors, and cloud technology in robotic systems to boost their functionality and efficiency.

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Major Players in the Global Medical Robots Market

The major players studied in the report are Intuitive Surgical, Stryker Corporation, Hocoma, Mazor Robotics, Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics), Accuray, Omnicell, ARxIUM, Ekso Bionics, and Kirby Lester among others.

COVID-19 Impact

Since the COVID -19 pandemic began, demand for medical robots has increased significantly. The UVD-Robots from Blue Ocean Robotics, a Danish company, can freely roam around patient rooms and operating rooms while covering important surfaces with the ultraviolet light that kills bacteria and viruses. More dangerous bacteria are eradicated from a surface the lighter the robot exposes it to. In a typical patient room, 99.99% of all bacteria and germs are eliminated in less than 10 minutes.

Global Medical Robots Market Segmentation

By Product

  • Instruments & Accessories
  • Robotic System

By Application

  • Laparoscopy
  • Orthopedic Surgeries
  • Neurosurgeries
  • Pharmacy Applications

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