According to the report titled ‘Medical Robots Market Size By Product Type (Surgical Robots, Telemedicine Robots, Rehabilitation Robots, Non-invasive Radiosurgery Robots, Pharmacy and Hospital Automation Robots), By Application (Neurology Applications, Cardiology Applications, Orthopaedic Applications, Laparoscopic Applications, Physical Rehabilitation, Pharmacy Applications), By End-use (Hospitals, Rehabilitation Centers, Ambulatory Surgical Centers (ASCs)), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global medical robots market is expected to showcase substantial growth during the period 2021-2027.
 

Increased attention on lowering the risk of infection for healthcare workers undertaking traditional surgical operations, coupled with the rise in the demand for efficient procedures with robot-assisted surgeries are propelling the growth of global medical robots market.

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Following the COVID-19 pandemic, it has become critical to protect healthcare workers from getting infected as a result of COVID-19 exposure. Medical robots allowed medical practitioners to care for patients without the risk of becoming contaminated in a variety of settings, thus stimulating the market outlook.

Based on product type, the surgical robots segment was worth USD 4,622 million in the year 2020 and is anticipated to expand at a CAGR of 17.4% during the projected timeline.

In terms of application spectrum, the cardiology applications segment of worldwide medical robots industry was valued at USD 843 million in 2020 and is estimated to record 18.1% CAGR through 2027.

Concerning end-use scope, the hospitals segment generated USD 4,895 million in 2020 and is predicted to grow at 17.4% during the assessment period, owing to the surging demand for robot-assisted surgeries, fueled by a scarcity of surgeons.

From a regional standpoint, Asia Pacific industry was remunerated at USD 1,606 million in the year 2020 and is poised to grow at a CAGR of 17.8% during 2021-2027, given the booming geriatric population, massive investment for automation in healthcare sector, and supportive medical reimbursement policies in the region.

The competitive landscape of global medical robots market is defined by companies such as Zimmer Biomet, Capsa Solutions LLC, Stryker Corporation, Aethon Inc., Medtronic plc, Johnson & Johnson, ARxIUM, Smith & Nephew plc, Renishaw plc, iRobot Corporation, Intuitive Surgical Inc., Hocoma AG, Omnicell Inc., and Accuray Incorporated among others.