In the report the medical robots market, the market is expected to reach US$ 28,776.5 Mn in 2025 from US$ 5,740.8 in 2017. The market is estimated to grow with a CAGR of 22.3% from 2017-2025.
The market for medical robots is driven by the driving factor such as increasing training programs for robotic surgeries. There have been rise in the usage of the robots in the each and every field of the healthcare such as surgeries, therapies, rehabilitation, pharmacy dispensing, sanitation and others. The advantages that are offered by the medical robots are benefiting people in various ways that help them to enhance their workflow and work efficiency. Whereas, the high cost of surgical procedures and installation is the restraining factor that is hindering the growth of the medical robots. However, the trends such as development of microbots and development of therapeutic robots are likely to grow the medical robots market in the coming future.
The medical robots market as per the product segment is further segmented as surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital & pharmacy robots and others. The segments are further divided into sub categories. The surgical robots includes neurological surgical robotic system, cardiovascular surgery robotic system, laparoscopic surgical robotic systems and orthopedic surgical robotic systems. The rehabilitation robots are classified as therapeutic robots, prosthetic robots, assistive robots and exoskeleton robots. Similarly, the hospital and pharmacy robots are sub segmented as pharmacy robotic systems, IV robotic systems and telemedicine robots. Among the product segment the surgical robot holds the largest market share by the product whereas the rehabilitation robots is the fastest growing segment. The market of surgical robots segment has the highest market share in 2017, contributing a market share of 46.3% and is expected to retain its dominance during the forecast period from 2018 to 2025.
The application segment of the medical robots market includes laparoscopy, neurology, orthopedics, gynecology, urology, cardiology and others. In 2017, laparoscopy segment held the largest share of 56.2% of the market, based on the technology. In addition, the segment is expected to dominate during the coming years owing to its advantages such as, adoption in emergence of data supporting efficacy and safety. The laparoscopy market was valued at US$ 2,220.5 Mn in 2017 and is estimated to grow at a CAGR of 22.4% during the forecast period from 2017 to 2025, to reach US$ 11,179.7 Mn by 2025.
Some of the major primary and secondary sources included in the report are Society of European Robotic Gynecological Surgery (SERGS), Canadian Institutes of Health Research (CIHR), Natural Sciences and Engineering Research Council of Canada (NSERC), Social Sciences & Humanities Research Council (SSHRC) and National Research Council Canada, and more.