Medical Robots Market to Observe Strong Development by 2028

Posted by Savni on November 8th, 2022

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.

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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.

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.

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