DUBLIN--(BUSINESS WIRE)--The "Medical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, and End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global medical robots market is projected to reach US$ 25,443.36 million by 2028 from US$ 9,189.70 million in 2022; it is expected to grow at a CAGR of 18.5% from 2022 to 2028.
Factors such as increasing number of surgical procedures and rising number of product launches & approvals drive the overall growth of the medical robots market. However, the high cost of surgical procedures and installation hampers the medical robots market growth.
Medical robots are professional service robots used in and out of hospitals to improve overall patient care. They reduce the workload of medical staff, allowing them to spend more time directly caring for patients while developing substantial operational procedures that provide efficacy and lower-cost investments in healthcare amenities.
Medical robots are used in a variety of applications, including telepresence robots for remote caregiving, disinfectant robots to reduce hospital-acquired infections, and robotic exoskeletons for rehabilitation training that provide external support and muscle training. Medical robots are used in hospital settings to deliver medications and other sensitive materials. A medical robotic system ensures precision and is used for remotely controlled, minimally-invasive procedures.
The current systems comprise computer-controlled electromechanical devices that work in response to controls manipulated by the surgeons. Robots offer various advantages in the medical field. They reduce procedure times and reduces stay in hospitals, minimize the risk of surgical site infections, and limit pain and discomfort. In addition to these advantages, it helps in better recovery & faster recovery time, and blood loss and transfusion are lessened.
Nanorobots play an important role in bio-medicine, majorly for treating cancer and cerebral aneurysms, removing kidney stones, and eliminating defected parts in the DNA structure. The current stages of medical technologies and therapy tools are used to treat cancer successfully.
For successful treatment, efficient drug delivery is important to decrease the side effects of chemotherapy. Nanorobots with implanted chemical biosensors are used to detect the tumor cells in the early stages of cancer development inside a patient's body. Nanosensors are utilized to find the intensity of E-cadherin signals.
Drugs can cause side effects in many cancer cases because they cannot differentiate between cancer cells and healthy ones. Nanorobots target only tumors and do not cause clotting elsewhere in the body. Therefore, side effects can be avoided in cancer treatment.
Manufacturers and scientists have been investing in innovative technological developments. For instance, in collaboration with researchers from the National Center for Nanoscience and Technology of the Chinese Academy of Sciences, Arizona State University scientists have programmed nanorobots to shrink tumors by cutting off their blood supply. They have developed the first fully autonomous DNA robotic system for a precise drug design and targeted cancer therapy.
Moreover, the medical robots market is experiencing various changes in the technology landscape that enable players to develop innovative products. State-of-the-art products may assist in conferring improved health conditions, thereby allowing people to live better lives. Leading companies consolidate the market through various R&D activities to offer modern products.
For instance, in December 2021, Inrobics Social Robotics introduced an AI-based robotic device to aid health rehabilitation. In addition, in April 2022, SS Innovations launched its SSI multi-arm revolutionary telerobotic assistance surgical system in India for US$ 0.54 to US$ 0.68 million (INR 40-50 million). As a result, the rising product launches support market expansion during the forecast period.
The surgical robot segment is estimated to account for the largest market share during the forecast period. Robotic surgeries are surgical procedures done by using the surgical robotic system. The surgical robots are self-automated and computer-controlled medical devices that are programmed to assist in the positioning and manipulating the surgical instruments.
These surgical robots helps surgeons to perform complex surgical procedures. Surgical robots enhance the capabilities of surgeons performing open surgery. Surgical robots provides more precision and control during the surgical procedure. Therefore, the surgical robots are allowed to perform the complex and advanced surgical procedures with increased precision through minimally invasive ways.
However, the rehabilitation robots segment is expected to register the highest CAGR during the forecast period. Rehabilitation robotics is a field of research dedicated to understanding and augmenting rehabilitation through the application of robotic devices. There is an increase in the demand for rehabilitation robots due to a rise in the number of elderly or disabled population.
Therefore, during the therapy, the optimization in the devices is done for providing rehabilitation therapy to disabled or older people. These robots provide both the control of movement and measurement reliability, making them the ideal instruments to help neurologists and therapists find a solution for the problem related to neuro-rehabilitation.
The rehabilitation robots can be categorized into two major segments - actuated robotic limbs and the robotic suits that enfolds the affected limb, such as an exoskeleton frame.
Key Market Dynamics
Key Market Drivers
- Surging Number of Surgical Procedures
- Rising Number of Product Launches and Approvals
Market Restraints
- High Cost of Surgical Procedures and Installation
Market Opportunities
- Evolution of Nanorobots for Cancer Treatment
Future Trends
- Development of Micro-swimmers
Companies Mentioned
- Abbott
- F. Hoffmann-La Roche Ltd.
- Immunexpress Inc.
- BD
- Danaher
- Luminex Corporation
- Thermo Fisher Scientific Inc.
- bioMerieux SA.
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