Medical Robots Market is expected to reach US$ 25,443.36 Million in 2028

According to our new research study on "Medical Robots Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (Surgical Robots, Hospital & Pharmacy Robots, Rehabilitation Robots, Non-Invasive Radiosurgery Robots, and Others), Application (Laparoscopy, Neurology, Orthopedics, Gynecology, Urology, Cardiology, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)," the Medical Robots Market is expected to reach a value of US$ 25,443.36 million by 2028 from an estimated value of US$ 9,189.70 million in 2022. The market is projected to grow at a CAGR of 18.5% from 2022 to 2028. Major driving factors include the rising number of surgical procedures and the increasing employment rate of anesthesiologists and technicians. However, the high cost of medical robots is likely to hamper the market growth during the forecast period.

COVID-19 Pandemic Impact on Medical Robots Market

After the onset of the COVID-19 pandemic, the global healthcare systems have been severely challenged with an explosive surge of positive cases, resulting in a significant increase in the demand for medical care. Increased need for treatment and solution for Coronavirus has increased demand for management of COVID-19 cases in hospitals and other healthcare facilities. The health care systems are overburdened, and the delivery of medical care to all patients has become a challenge. In addition, the medical device industry is also facing the negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, medical device companies are finding difficulties managing their operations. Many companies offering medical robots have their business operations in various regions, and businesses are adversely affected by the COVID-19 outbreak. This has disrupted and restricted companies' ability to distribute products and resulted in temporary closures of their facilities. However, gradually hospitals have started resuming elective procedures as the COVID-19 recovery rate is improving. Therefore, the demand for medical equipment such as medical robots is expected to increase.

There is a rise in the number of surgeries performed across the world. The incidence of cardiovascular diseases has increased in European countries over the last 25 years. In the region, the rise in diabetic cases and changes in lifestyle are increasing the number of cardiovascular surgeries and general surgeries.

Cancer and diabetes are among the leading causes of mortality across the world. As per a study by the American Cancer Society (ACS), in 2021, ~1.9 Million new cancer cases were diagnosed in the US. In 2021, according to Dutch Cancer Registry, around 123,672 new cancer cases were registered in the Netherlands. Moreover, According to an article published by Elsevier ltd in 2017, around 1 to 3% of the female population carry breast implants in the Netherlands. Breast surgeries are among the most common procedures in plastic surgeries performed in the country. Furthermore, according to the International Diabetes Federation (IDF), in 2021, an estimated 537 Million people across the world had diabetes. The number is expected to reach 783 Million by 2045.

According to the data published by the Obesity and Metabolic Surgery Society of India in 2020, the number of bariatric surgeries increased by around 86.7% in India during 2014–2018. In addition, according to the study published by the American Society for Metabolic and Bariatric Surgery, in 2019, around 252,000 weight loss surgeries were performed in the US. The increasing number of surgical procedures creates a need for robotic surgery instruments. Therefore, the staggering prevalence of chronic conditions and the rising number of surgical procedures generate the demand for robotic surgery instruments.

The number of road accidents is increasing across the world. According to the National Inter-ministerial Observatory of Road Safety (ONISR), in France, 6,520 people were injured in road accidents in May 2018. The surging number of road accidents eventually leads to the rise in the number of orthopedic procedures and treatments, which, in turn, is boosting the growth of the medical robots market

The medical robots market majorly consists of players such as Intuitive Surgical, Inc.; Stryker; Hocomo AG; Medtronic; Auris Health Inc.; Accuray; Omnicell Inc.; ARxIUM; and Ekso Bionics.

Medical Robots Market, by Region, 2022 (%)

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Medical Robots Market Size, Share, Growth | Forecast to 2022,28

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Medical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Surgical Robots, Hospital & Pharmacy Robots, Rehabilitation Robots, Non-Invasive Radiosurgery Robots, and Others), Application (Laparoscopy, Neurology, Orthopedics, Gynecology, Urology, Cardiology, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography

The report segments the medical robots market as follows:

The medical robots market is segmented based on products, technology, and application. Based on products, the market is segmented into surgical robots, hospital & pharmacy robots, rehabilitation robots, non-invasive radiosurgery robots, and others. In terms of application, the market is segregated into laparoscopy, neurology, orthopedics, gynecology, urology, cardiology, and others. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others. By geography, the medical robots market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).