Global Medical Robots Market 2019-2023

Global Medical Robots Market 2019-2023

About this market

The medical robots industry have witnessed several technological developments in the last few years. Medical robot vendors are focusing on the development of rehabilitation robots that improve the mobility in patients who have lost mobility in their limbs. Technological advancements have allowed medical robots to dispense medicines and provide homecare which have made patients life easy. Reduced hospital stays, low hospital-acquired infection risks, fast recovery, and less pain and discomfort post-surgery are some of the other benefits possible due to the technological advancements in medical robots. Security robots are also being developed which have specialized applications in the healthcare facilities such as disinfecting and preventing the spread of highly communicable diseases. These technological advancements are identified as key trend driving the growth of medical robots market. Technavio’s analysts have predicted that the medical robots market will register a CAGR of over 21% by 2023.

Market Overview

Advantages of robot-assisted training in rehabilitation therapy

There has been tremendous development in robotics technology in the last few years. Rehabilitation robots are being developed which offer rehabilitation to patients with motor disorders caused due to stroke or spinal cord diseases. These robots deliver high-intensity and high-dosage training to the patients with motor disorders. The gait functions of the patients with stroke can also be improved by robot-assisted therapy. These advantages of rehabilitation robots are driving market growth during the forecast period.

Safety concerns over robotic surgical devices

Although robotic surgical devices provide positive outcomes and improved surgical techniques, these devices come with risks and safety concerns. There are risks related to the functioning of the machine. Robot-assisted surgery also involves cardiopulmonary risks of infection, anesthesia, and excessive bleeding. Moreover, mechanical failure due to breakdown of components can disrupt the surgical process. These risks associated with robotic surgical devices are hampering the growth of the medical robots market.

For the detailed list of factors that will drive and challenge the growth of the medical robots market during 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Auris Health (Hansen Medical), and Intuitive Surgical the competitive environment is quite intense. Factors such as the advantages of robot-assisted training in rehabilitation therapy, will provide considerable growth opportunities to medical robot manufacturers. Auris Health (Hansen Medical), Intuitive Surgical, Medtronic, Smith & Nephew, Stryker, and TransEnterix are some of the major companies covered in this report.