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Healthcare Robotics Market Size, Share, and Analysis, By Product (Surgical Robotic Systems, Non-invasive Radiosurgery Robotic Systems, Hospital & Pharmacy Robotic Systems, Rehabilitation Robotic Systems), By Function (External Beam Radiation Therapy, Pharmacy Applications, Orthopaedic Surgery, Laparoscopy, Cardiology, Neurosurgery), By Application (Robotic Nurse Assistance, Disinfection Robotism, Medical Telepresence Robots, Delivery Robots, Dispensing Robots, Others), By End User (Home Care Settings, Hospitals, Rehabilitation Centers, Pharmacies) and Regional Forecasts, 2022-2032
Healthcare Robotics Market size was USD 9.07 billion in 2021 and projected to grow from USD 12.4 billion in 2023 to USD 50.8 billion by 2032, exhibiting a CAGR of 17% during the forecast period.
The healthcare robotics market denotes to a healthcare sector that aim in development, execution, and usage of robotic technologies in different applications of healthcare industry. The technologies involved are robotic devices, systems and software created to aid the healthcare professionals in providing medical services, improving operational efficiencies and enhancing patient outcomes in healthcare facilities. Healthcare robotics aid to boosting the healthcare quality and it is evolving due to advancements in technologies like AI, robotics etc.
Healthcare Robotics Market is expected to reach USD 50.8 billion, growing at a CAGR of 17% during forecast period owing to the increasing adverse effects due to medical treatments in various countries. Organizations like WHO and USFDA passed strict regulatory guidelines to establish patient safety and efficiency of treatment. The necessity of automated system has increased to aid physicians in complex medical procedures like surgery, diagnosis etc. Increasing expenditure in healthcare by various developing countries along with growing surgical operative procedures are expected to to drive the demand for growth of market in the forecast period.
Healthcare Robotics Market is classified based on the Product into Surgical Robotic Systems, Non-invasive Radiosurgery Robotic Systems, Hospital & Pharmacy Robotic Systems, Rehabilitation Robotic Systems. Surgical Robotic Systems segment is expected to dominate the market in the forecast period owing to the advancement in technology related to surgical robots, increasing healthcare expenditure in developing countries, and growing preference for minimally invasive surgical procedures which are expected to boost the growth of segment in the healthcare robotics market.
Healthcare Robotics Market is classified based on the Function into Laparoscopy, Neurosurgery, Orthopaedic Surgery. Laparoscopy segment dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the increasing adoption of surgical robots along with the utilization of them for laparoscopic surgical procedures by replacing intervention of healthcare professionals globally which is resulting in the growth of Healthcare Robotics market.
Switching to Minimal Invasive Procedures is Expected to Boost the Growth of the Market
The shifting towards minimally invasive surgical procedures is increasing from traditional open surgical procedures due to the clinical advantages presented post-operative procedure like reduced duration of hospital stay, decreased complications, and low cost of procedures. The efficiency of surgical robots is high in executing laparoscopic surgical procedures due to the advancements in technology resulting in production of procedure-specific robots into the market which is anticipated to drive the demand for adopting surgical robots and thereby resulting in boosting the growth of the healthcare robotics market.
Advancements in Technology is Expected to Boost the Growth of the Market
Healthcare robotics involve several advancements in technology and constant upgrading to perform robotic surgery which aid in giving advanced visualization abilities, providing a better view of the operating area for surgeons by availing HD cameras to illustrate the small microscopic structures. This may drive the demand for the growth of the market. Technology has enabled machinery to be more skilled rather a human hand, and the worthier portability with rotation at 360-degree angle may aid in better accessing difficult areas which may boost the market growth.
Mechanical Failures May Restrain the Growth of the Market
The emergence of an unexpected mechanical failure may result in restraining the growth of global healthcare robotics market. Robotic-assisted surgery might involve bleeding, infection, and cardiopulmonary risks which may even hamper the market growth.
Healthcare Robotics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021 and is expected to continue its dominance over the forecast period in the Healthcare Robotics Market owing to the presence of immense knowledge in utilizing progressive and modern technology which results in the growth of the market. Increasing costs of healthcare, rising technologies and inventions related to healthcare robots is anticipated to boost the growth of the market in the forecast period.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the spread of coronavirus. Covid-19 had negative affect on several industries. The necessity and requirement for medical robots in healthcare domain had increased to prevent the physical contact and aid in sterilization, cleaning, and for other assistance in hospitals. This resulted in reducing the life threat to the medical staff. Healthcare Robotics helped in replacing the patients by reducing the workload of healthcare professionals. Covid-19 had a positive impact on the growth of Healthcare Robotics Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 17% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Product |
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Function |
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Application |
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End User |
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By Region |
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Healthcare Robotics Market size was estimated at USD 9.07 billion in 2021 and is expected to reach USD 50.8 billion in 2032.
Surgical Robotic Systems and Laparoscopy segment accounted for the highest growth rate in the Healthcare Robotics market.
Leading players: Titan Medical Inc, Accuray Inc, Intuitive Surgical Inc, Ekso Bionics Holdings Inc, Varian Medical Systems, Kirby Lester Llc, Irobot Corporation, Roche Holding AG, Hocoma, Stryker, ZOLL Medical Corp, Aurora Biomed Inc, Agilent Other Prominent Players are the leading players in the Healthcare Robotics Market.
Switching to Minimal Invasive Procedures and Advancements in Technology are the factors driving the Healthcare Robotics market.
Any unexpected mechanical failures and the risk of bleeding, infection, and cardiopulmonary risks are the challenges associated with the Healthcare Robotics Market.
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