Healthcare Robots Market - Forecast(2024 - 2030)

• The rising use of robot-assisted training in Rehabilitation Therapy is a major factor driving the market growth. As it provides high-dose and high-intensity training, robotic rehabilitation therapy is effective for patients with motor difficulties caused by stroke or spinal cord damage.
• The enhancement of gait function in stroke patients is one of the applications of robot-assisted therapy. Bionik, a robotics company focused on enabling rehabilitation and assistive solutions for patients suffering from neurological disorders, announced the completion of the Robot-Assisted Training for the Upper Limb after Stroke (RATULS) trial in May 2019 by utilizing the Companies in Motion Robotic Therapy Systems.
• Expensive surgical procedures and rising healthcare costs are poised to create hurdles for the Healthcare Robots Market Report.

Healthcare Robots Market, By Region, 2021 (%)

Healthcare Robots Market Segment Analysis – By Product

Based on Products, Healthcare Robots Market is segmented into Surgical Robots, Non-Invasive Radiosurgery Robotic Systems, Rehabilitation Robotic System, Hospital and Pharmacy Robotic Systems. In 2021, the Surgical Robots category accounted for the greatest revenue market share at 36.5%. When compared to human surgeons, surgical robots have a high success rate, they also do precision surgery in small spaces, which aids impaired patients in improving their movement and communication. With the help of telemanipulators, it completes repetitive operations quickly and consistently without becoming fatigued. Few hospitals can afford to invest in new technology devices, and those that do are forced to charge a premium for their services. Rehabilitation Robotic System is anticipated to expand with the fastest CAGR of 18.8% in the forecast period 2022-2027. The adoption of cloud-based deployment modes in all applications is outpacing market need. Rehabilitation robots are employed in physiotherapy in treating stroke and neurological illnesses connected to movement limitation, and this segment is expected to develop owing to the rising acquisition rate of robotic systems in hospitals and the requirement for minimally invasive procedures. Pharmacy automation is not a new concept, in fact, many pharmacies have had some kind of automation since the 1960s. However, improved artificial intelligence and machine learning capabilities, paired with decreasing automated system costs, have brought pharmacy automation within reach of even smallest pharmacies.

Healthcare Robots Market Segment Analysis – By Application

Based on Products, Healthcare Robots Market is segmented into Orthopedics, Laparoscopy, Neurology, Cardiology, Gynecology and Others. The neurology segment is estimated to hold the largest share of the market throughout the forecast period 2022-2027, based on application. This segment growth is being driven by an increase in the prevalence of neurological disorders such as depression and Alzheimer's disease, as well as technological advancements in the field of robotic systems, such as improved scope ergonomics. The laparoscopy application segment is estimated to account for the fastest CAGR of 19.1% during the forecast period 2022-2027, owing to the growing number of surgical laparoscopies performed worldwide and the growing usage of surgical robots. The ease with which the gadgets can be handled, as they are primarily designed to meet the needs of surgeons

Healthcare Robots Market Segment Analysis – By Geography

Based on Geography, in 2021, the North America Healthcare Robots Market accounted for 37.9% of total sales. Because of the quick adoption of new technology, North America has been a promising geographical market globally for the previous decade. The increasing number of hospitals being built with advanced equipment is expected to boost market demand. In addition, the increasing prevalence of encouraging effective treatment in the interest of patients' health drives the market demand in this region. Owing to an increase in the number of healthcare centers, Asia-Pacific has overtaken America as the most prominent area. Increasing funds from both public and private entities are putting pressure on the market to expand. A growing number of trained people in charge of monitoring the gadgets is also helping to level the playing field in the medical field. The Asia region's growing demand for modern healthcare infrastructure systems is likely to continue to expand in the future years. The increasing adoption of instrument-based services is driving demand for medical robots in China, but other issues, such as a shortage of experienced physiotherapists and caretakers, are also driving demand. In a hospital setting, medical robots are utilized to transport drugs and other sensitive materials. The Healthcare Industry of India's Initial Public Offerings (IPOs) are expected to accelerate market growth.

Healthcare Robots Market Segment Analysis Drivers

Growing Demand For Minimally Invasive Surgeries:

Minimally invasive procedures (MIS) are becoming more popular around the world as a result of the advantages they provide, such as smaller incisions, fewer cuts, less scarring, less discomfort, increased safety, faster recovery times, and significant cost savings. Robotic minimally invasive surgery amplifies these advantages by ensuring greater accuracy, reproducibility, control, and efficiency. The straight-stick laparoscopy to open surgery conversion rate was 26%, according to a 2020 publication on a gynecological investigation of laparoscopy hysterectomy. The conversion rate for procedures performed on a robotic platform, on the other hand, was less than 5%, resulting in less morbidity and blood loss. Robotic surgery also has improved visualization capabilities, allowing surgeons to see up to small structures using high-definition cameras and have a better perspective of the operating area. These technologies have better dexterity than the human hand; their capacity to spin 360 degrees and superior mobility allow surgeons to reach even the most difficult-to-reach locations.

Preference Of Non-Invasive Procedure

Medical robotic system uses non-invasive surgeries in the field of gynecology, cosmetology, open surgery, laparoscopic procedures, and others. These procedures offers negligible complications, diminish the threat of infections, reduce pain, and have quicker recovery. Traumatic injuries, cancers and cardiovascular disease raise the impact of surgical intervention in healthcare robot market. This demand for lower surgical invasion will drive demand for surgical robots as well as healthcare robots at an overall level as well.

Healthcare Robots Market Segment Analysis Challenges

Expensive Surgical Procedures

Robot-assisted operations and computer integrated surgery are significantly more expensive than minimally invasive procedures. Robotic hysterectomy is only recommended by the American Congress of Obstetricians and Gynecologists for unique and complex clinical situations. According to the group, utilizing robotic surgery for all hysterectomies increases the annual cost of hysterectomy surgeries in the United States by $960 million in 2021. One of the most commonly used robotic systems, the da Vinci, costs between $1.5 million and $2.5 million per unit, whilst the CyberKnife radiosurgery robotic system costs between $4 million and $7 million per unit. Likewise, a Lokomat rehabilitation robot costs around $380,000 on average. According to a research letter published in the Journal of the American Medical Association (JAMA) in August 2020, each robotic surgical procedure is expected to cost $3,857. As a result of the rising cost of procedures owing to the usage of robotic systems, the medical robotics market is predicted to slow down. Hospital expenditures around the world have been shrinking in recent years, owing mostly to decreased federal appropriations. This will hamper market growth.

Healthcare Robots Market Segment Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Healthcare Robots Market. In 2021, the Healthcare Robots Market share is consolidated by the top ten players present in the market Healthcare Robots Market top 10 companies are 

1. Accuray Inc.
2. Hacoma AG
3. Major Robotics Ltd
4. Stryker Corporation
5. Titan Medical Inc.
6. MedtEch S.A.
7. Kuka Roboter GMBH
8. Irobot Corporation
9. Intuitive Surgical Inc.
10. Hansen Medical Inc.

Recent Developments

• In 2020, Stryker Corporation gained regulatory approval in Japan for the MAKO robotic surgery system for partial knee indication.
• Accuray introduced the CyberKnife S7 System in June, 2020, a next-generation CyberKnife platform with advanced precision, real-time artificial intelligence (AI)-driven motion tracking, and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments.
  
  

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