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Medical Robots Market Analysis by Business Methodologies, Financial Overview and Growth Prospects Predicted by 2027

Reports And Data

Reports And Data

The growing demand for medical robots in minimally invasive surgeries is boosting the product sale.

NEW YORK, NEW YORK, UNITED STATES, October 11, 2021 / -- Reports and Data has recently published a new report on “Medical Robots Market, Size, Share And Industry Analysis By Product Type (Surgical Robotic Systems, Assistive & Rehabilitation Systems, Hospitals & Pharmacy Robotic Systems, Non-Invasive Radiosurgery Robotic Systems, Accessories, Others), By Application (Orthopedics, Laparoscopy, Neurology, Pharmacy, Others), By End-Users (Hospitals, Ambulatory Surgical Centers, Pharmaceutical & Biotechnology Industries, Others) And Region, Segment Forecasts To 2027.”

The growing demand for medical robots for assistive and rehabilitation purposes is one of the significant factors influencing the market growth.

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The global medical robots market is expected to reach USD 27.05 Billion by 2027, according to a new report by Reports and Data.

The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.

Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Medical Robots market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.

Top Companies operating in the market and profiled in the report include:

Stryker Corporation, Intuitive Surgical, Mazor Robotics, Omnicell, Kirby Lester, Hocoma, Medtronic, Esko Bionics, Johnson & Johnson, and ARxIUM, among others.

Further key findings from the report suggest

• By product type, surgical robotic systems dominated the market in 2019 and is likely to grow at a rate of 16.2% in the forecast period. Surgical robots enable surgeons to operate with utmost precision. Areas of the human body that are difficult or impossible to reach with the human hand can be accessed using the robotic system, where the arms can rotate about 280 degrees. The Renaissance guidance system provided by Mazor Robotics is an all-inclusive surgical solution meant for spinal procedures.

• By application, neurology is estimated to grow at the fastest rate of 17.6% in the forecast period, owing to the use of medical robots in decreasing procedure time and improving safety in neurosurgery in both frame and frameless procedures.

• By end-users, hospitals held the largest market share in 2018 and is likely to grow at a rate of 15.4% in the period 2020-2027.

• The market in the Asia Pacific region is anticipated to grow at the fastest rate of 17.9% in the period 2020-2027, attributed to the imminent demand for sophisticated healthcare facilities and the growing prevalence of gynecological diseases, among others.

• Medrobotics, Corindus, CMR Surgical, HistoSonics, Embodied, EndoMaster, and ICan Robotics, among others, are some of the start-up companies in the market.

• In September 2019, Stryker Corporation, a leading market player, made an investment of USD 370.0 Million to acquire two firms, namely Cardan Robotics, it is developing a robot named Orion proposed to assist navigation in interventional and surgical radiology procedures, and Cardan's sister company Mobius Imaging, making the Airo TruCT scanner. The acquisition is likely to bring expertise in advanced imaging and robotics, along with a robust product pipeline, which would give Stryker the opportunity to upsurge its presence in Spine, Orthopedics, and Neurotechnology. Moreover, this initiative would enable Stryker to provide improved healthcare procedural solutions, including sales, service, and support.

• In September 2019, Medtronic launched the Hugo RAS system, an innovative robot-assisted surgery platform with better flexibility and cost-effectiveness as compared to other systems. The system is Medtronic's strategy to stay competitive in the growing market that is dominated by leading players such as Intuitive surgical. This product launch is intended to increase the number of robotically-assisted surgeries (currently around 2.0% of surgeries are performed with robotic-assistance).

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For the purpose of this report, Reports and Data have segmented the global medical robots market on the basis of product type, application, end-users, and region:

Product Type Outlook (Revenue, USD Million; 2017-2027)

• Surgical Robotic Systems
• Assistive & Rehabilitation Systems
• Hospitals & Pharmacy Robotic Systems
• Non-Invasive Radiosurgery Robotic Systems
• Accessories
• Others

Application Outlook (Revenue, USD Million; 2017-2027)

• Orthopedics
• Laparoscopy
• Neurology
• Pharmacy
• Others

End-Users Outlook (Revenue, USD Million; 2017-2027)

• Hospitals
• Ambulatory Surgical Centers
• Pharmaceutical & Biotechnology Industries
• Others

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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.

Key Regions Assessed in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report further segments the global Medical Robots market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.

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