Healthcare Robotics Industry Market to Grow at a Double Digit CAGR through 2025

Growing geriatric population and technological innovations in medical sciences to drive healthcare robotics market

According to TechSci Research report, “Global Healthcare Robotics Market By Type (Surgical, Non-Surgical {Hospital Logistics Robots, Rehabilitation Robots, Robot Nurses, Telepresence Robots, Nanorobots, Diagnostic Robots, Radiotherapy Robots}), By Product (Da Vinci, Monarch, Ion, Navio, Mako Magellan Robotics system, Sensei X Robotics System, Cyber Knife, TUG and others), By Application (Colorectal, Gynaecology, Urology, Prostrate; Others), By End User (Hospitals and Clinics, Speciality Centres, Rehabilitation Centres, Others), By Region, Forecast & Opportunities, 2025”, global healthcare robotics market is expected to grow at a double digit CAGR during the forecast period.  Intervention of technology in the field of medical sciences has given rise to new innovations such as healthcare robot and enhanced the operational procedures and treatments. Healthcare robots offer several advantages for instance, in the current scenario, they are being used for supplying medicines as they prevent human to human interaction; therefore, eliminate chances of COVID-19 transmission.

Moreover, increasing funding from the government in the developing countries like India and China for the installation of healthcare robots for medical surgeries, operations, diagnosis and treatment is anticipated to propel the growth of healthcare robotics until 2025. However, high cost associated with the robot can discourage the adoption of healthcare robotics.

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Global healthcare robotics market has been segmented into type, product, application, end user, company, and region. On the basis of type, the market is bifurcated into surgical and non-surgical robots. The hospital logistics robots, rehabilitation robots, robot nurses, telepresence robots, nanorobots, diagnostic robots and radiotherapy robots fall under the category of non-surgical robots. Surgical robots dominated the market in 2019 as these robots simplify complex operations, diagnosis and treatments. Many hospitals all over the world have started adopting the surgical healthcare robots due to their improved patient outcomes.

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Based on regional analysis, North America led the global healthcare robotics market in 2019 due to high mortality rates and medical errors; therefore, countries present in the region like US and Canada are readily adopting healthcare robots as they can simplify complex medical procedures. On the other hand, Asia-Pacific is expected to grow at the highest rate as the region is the base to countries like India and China which have high geriatric population.

Some of the leading players in global healthcare robotics market include Hocoma AG, Hansen Medical Inc, Ekso Bionics Holdings Inc, Titan Medical Inc, Accuray Inc, Intuitive Surgical Inc, MAKO Surgical Corp, Varian Medical Systems Inc, Kirby Lester LLC, Roche Holding AG, etc. In order to expand their market share, the companies adopt new product launches, collaborations, conduction of periodic sales and many more strategies.

“Global healthcare robotics market is anticipated to witness significant growth during the next five years on account of increasing funding for medical robot research, growth in geriatric population and growing trend of MIS or minimally invasive surgeries which require medical robots.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Healthcare Robotics Market By Type (Surgical, Non-Surgical {Hospital Logistics Robots, Rehabilitation Robots, Robot Nurses, Telepresence Robots, Nanorobots, Diagnostic Robots, Radiotherapy Robots}), By Product (Da Vinci, Monarch, Ion, Navio, Mako Magellan Robotics system, Sensei X Robotics System, Cyber Knife, TUG and others), By Application (Colorectal, Gynaecology, Urology, Prostrate; Others), By End User (Hospitals and Clinics, Speciality Centres, Rehabilitation Centres, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global healthcare robotics market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global healthcare robotics market.

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