New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global medical robotics market generated USD 10.88 billion in 2021, and is estimated to generate USD 44.45 billion by 2030, manifesting a CAGR of 17.1% from 2022 to 2030. The research provides an in-depth analysis of changing market dynamics based on driving forces and opportunities along with extensive segmentation and top market players. The report also offers Porter’s Five Forces and value chain analysis.
Equipping an extensive analysis in nearly 1,000 pages, accompanied by 779 tables and 772 figures, the research aims to assist leading players, investors, and stakeholders in availing insights and valuable information to strengthen their position and achieve sustainable growth in the medical robotics industry.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 10.88 Billion |
| Market Size in 2030 | USD 44.45 Billion |
| CAGR | 17.1% |
| No. of Pages | 992 |
| Tables | 779 |
| Figures | 772 |
| Segments covered | Product and Service, End Users, Application, and Geography. |
| Drivers | Surge in adoption of medical robots for minimally invasive procedures |
| The implementation of robots for carrying out manual tasks in the healthcare sector | |
| Rise in number of chronic diseases such as cancer | |
| Opportunities | The emergence of nanorobots for delivery of drugs and reach the hard-to-reach areas in body during surgeries |
| Technological advancements |
The report provides detailed analysis of changing market dynamics based on driving forces, restraining factors, and opportunities. Surge in adoption of medical robots for minimally invasive procedures, the implementation of robots for carrying out manual tasks in the healthcare sector, and rise in number of chronic diseases such as cancer are the driving forces of the global medical robotics market. However, lack of skilled robot operators and high cost of medical robots restrain the market growth.
Highlighting the opportunities that would help top market players and new entrants in expanding the medical robotics market size in the coming years, the Lead Analyst for the Life Sciences & Healthcare at Next Move Strategy Consulting, stated, “The emergence of nanorobots for delivery of drugs and reach the hard-to-reach areas in body during surgeries present new opportunities in the coming years. In addition, technological advancements in the robotics sector are projected to open up new avenues in the coming years.”
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The research offers a detailed segmentation of the global medical robotics market based on product and service, end users, application, and geography. Based on product and service, the report further analyzes the market based instrument and accessories, services, robotic systems, and consumables. Based on application, the research further categorizes the market into general surgery, neurosurgery, orthopedic surgery, urological surgery, gynecological surgery, transoral surgery, oncological surgery, pharmacy applications, laparoscopy, external beam radiation therapy, physical rehabilitation, and others. Based on end users, the report further classifies the market into hospitals, ambulatory surgery centers, home care settings, rehabilitation center, and others.
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Based on geography, the report classifies the global medical robotics market into North America, Europe, Asia-Pacific, and RoW. North America held the highest market share in 2021, and is projected to continue the largest contribution throughout the forecast period. This is attributed to technological advancements in medical robotics by the healthcare companies and the demand of medical robots for performing laparoscopic surgeries. However, Asia-Pacific is projected to register a steady growth by 2030. This is due to increase in robot-assisted minimally-invasive and non-invasive surgical procedures and huge population suffering from chronic diseases such as cancer, cardiovascular diseases (CVD), and others.
The report analyzes each region on the basis of each segment and sub-segment with the help of tabular and graphical representation to highlight the performance of each segment in various regions. These insights are helpful in availing insights to take necessary steps to expand the medical robotics market share.
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The report offers a comprehensive analysis of market players operating in the global medical robotics market. These players include Medtronic Plc, Omnicell, Inc., Smith and Nephew, iRobot Corporation, Accuray incorporated, Renishaw Plc, ARxIUM, Becton Dickinson Rowa, CMR Surgical, Zimmer Biomet holdings, Inc., Siemens Healthineers AG, Stryker Corporation, Intuitive Surgical, Johnson & Johnson, and Teladoc Health. The report offers insights on strategies such as joint ventures, expansion, and others that are adopted by leading market players to gain competitive edge.
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