Medical Robots Market To Reach USD 27.05 Billion By 2027 With CAGR 16.6%

An extensive study of the product application and services conducted by subject matter experts assessing the Medical Robots market will help product owners to make a wise decision.

The global Medical Robots Market is expected to reach USD 27.05 Billion by 2027, according to a new report by Reports and Data. Key factors driving the growth of the market is the use of medical robots to release healthcare personnel from routine tasks to devote their time to further pressing responsibilities, and make medical procedures cost-effective and safer for patients. AI diagnostics is one of the fields which requires widespread use of medical robots. The uses AI for in diagnostics are extensive, but there are a few instances worth mentioning, comprising the FDNA system which deploys facial recognition software for screening of patients to detect more than 8000 maladies and rare genetic disorders with an extremely high degree of precision.

The growing demand for medical robots in minimally invasive surgeries is boosting the product sale. Benefits offered by robotic surgery comprises of enhanced dexterity, greater visualization, greater precision. It is an advanced form of minimally invasive surgery, enabling surgeons to use a computer-controlled robot to operate in very tight spaces in the body that would else only be accessible through open surgery. Surgical robots are self-powered devices that can be programmed to assist in the setting and handling of surgical instruments, offering surgeons with greater flexibility, accuracy, and control.

COVID-19 Impact
Hospitals in several countries across the globe are deploying medical robots, to prevent doctors and medical staff from getting infected with coronavirus, for serving food and medicines to infected patients through COBOT-Robotics. Such measures are adopted to contain the spread of the virus following the idea of social distancing.

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

The UVD-Robots developed by Blue Ocean Robotics operate autonomously and move around COVID-19 patients' operating theatres and rooms, covering crucial surfaces with virus and bacteria-killing UV light.

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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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)

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.
• 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.
• 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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