According to Emergen Research, the global healthcare robotics market size was USD 7.34 billion in 2019 and is expected to reach USD 34.79 billion in 2027 and register a robust revenue CAGR of 21.6% during the forecast period, 2020-2027.
Healthcare Robotics Market By Type (Laparoscopy, Noninvasive, Emergency response, Hospital and Pharmacy, Rehabilitation, Neurosurgical, Noninvasive Radiosurgery, Surgical Robots, Others), By Application (Neurosurgery, Orthopedic Surgery, Cardiology, Laparoscopy, Pharmacy Applications, Others), By Portability (Mobile, Fixed), By End Use By Region Forecasts to 2027
According to Emergen Research, the global healthcare robotics market size was USD 7.34 billion in 2019 and is expected to reach USD 34.79 billion in 2027 and register a robust revenue CAGR of 21.6% during the forecast period, 2020-2027.
Market Dynamics:
Over the recent years, healthcare robotics is rapidly gaining traction owing to increasing demand for automation in the healthcare sector in order to decrease surgical errors. Healthcare robots perform a variety of tasks quickly and more efficiently as compared to humans. These robots assist healthcare professionals during surgeries, streamline hospital logistics, and disinfection and also provide assistance to patients in remote locations. Healthcare robots are widely used in complex and minimally invasive surgeries to decrease the risk of infection. Factors such as rising prevalence of orthopedic and neurological diseases along with other chronic diseases such as cancer, cardiovascular disorders, gynecological conditions across the globe, increasing demand for minimally invasive surgeries, and high adoption of healthcare robots in hospitals, rehabilitation centers, specialty centers, and clinics are expected to fuel market growth during the forecast period. In addition, growing geriatric population, improving healthcare infrastructure, favorable government initiatives, and increasing focus on developing enhanced robots are expected to fuel market growth going ahead.
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However, factors such as dearth of skilled healthcare professionals to monitor and operate advanced healthcare robotic systems, high initial investments and maintenance costs, and stringent regulatory approvals are expected to hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Surgical Robots Segment to Register Steady Revenue Growth:
The surgical robots segment is expected to register steady revenue growth during the forecast period. Increasing number of surgeries across the globe, high demand for minimally invasive surgeries, and increasing demand for surgical robots with advanced features such as enhanced sensors, cloud computing technology, and voice recognition are key factors expected to drive revenue growth of the segment.
Hospital Segment to Account for Largest Revenue Share:
The hospital segment is expected to account for largest revenue share over the forecast period owing to high patient pool, increasing demand for minimally invasive surgeries, and high adoption of advanced robots in hospitals for conducting complex surgeries.
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North America to Lead In Terms of Revenue:
North America is expected to account for largest revenue share in the global market over the forecast period owing to technological advancements in medical robots, high usage of robots in surgeries and healthcare facilities, high product approvals, and favorable reimbursement scenarios. In addition, high demand for minimally invasive surgeries, high adoption of robots in rehabilitation centers for assistance, and increasing investments in research and development activities are expected to fuel North America market growth going ahead.
Major Companies in the Market Include:
- Stryker Corporation
- InTouch Technologies, Inc.
- Medrobotics Corporation
- Intuitive Surgical, Inc.
- Mazor Robotics Ltd.
- Zimmer Biomet Robotics
- Renishaw plc
- Aethon Inc.
- Hocoma Inc.
- Omnicell, Inc.
For the purpose of this report, Emergen Research has segmented the global healthcare robotics market based on type, application, portability, end use, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Robotic Systems
- Noninvasive Radiosurgery Robots
- Emergency response robotic systems
- Hospital and Pharmacy Robots
- Rehabilitation Robots
- Neurosurgical Robotic Systems
- Noninvasive Radiosurgery Robots
- Surgical Robots
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Neurosurgery
- Orthopedic Surgery
- Cardiology
- Laparoscopy
- Pharmacy Applications
- Others
Portability Outlook (Revenue, USD Billion; 2017-2027)
- Mobile
- Fixed
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Rehabilitation Centers
- Hospitals
- Specialty Centers
- Clinics
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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