The market for robotic clinicians is expected to grow at a CAGR of around 20.0% from 2020 to 2027 and expected to reach the market value of around US$ 32,265.7 Mn by 2027.
Robotic clinicians refer to the robots that are involved in the treatment and observation of living patients. They have direct contact with the patients rather than being involved in the research. These robotic clinicians are used in hospitals and clinics, specialty centers, rehabilitation centers, and others.
The technological advancements and increasing funding for medical robot research is supporting the market value. The issuance of initial public offering (IPOs) by medical robot companies in recent years is additionally supporting the market growth. For instance, a robotics-related company has filed IPOs on the New York Stock Exchange in 2016. MA medical device robotics startup has used the Reg-A crowdfunding method to seek funding for their new MYO stock to be listed on the NYSE MKT Exchange. The advantages offered by robot-assisted training in rehabilitation therapy are further bolstering the market value. Furthermore, increasing investment in healthcare infrastructure in developing economies is projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, safety concerns over robotic surgery devices and high cost associated with the robotic systems are projected to limit the growth to an extent over the estimated period.
The surgical robotic systems segment by product is further bifurcated into laparoscopy robotic systems, orthopedic robotic systems, and neurosurgical robotic systems. The rehabilitation robotic systems segment is additionally bifurcated into therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems, and other rehabilitation robots. Moreover, hospital and pharmacy robotic systems are further divided into Pharmacy Robotic Systems, and IV Robotic Systems. The wide range of applications and increasing investment in research & development (R&D) for the robotic clinicians is supporting the segmental market value. The rapidly increasing geriatric population is further supporting the demand for robotic clinicians in the market. According to UN statistics, the population above 60 years of age and above is likely to increase to 2.1 billion in 2050 from 962 million in 2017.
North America accounted for the maximum revenue share in the global market
In 2019, North America accounted for the maximum revenue share (%) in the global market. The presence of major players in the region is primarily contributing to the regional market value. The well-established healthcare infrastructure and high investment in healthcare solutions are supporting the demand for robotic clinicians in the region. The major economies of the region including US and Canada are major contributors.
Asia Pacific is projected to exhibit fastest growth over the forecast timeframe from 2020 top 2027
Asia Pacific is estimated to experience the fastest growth with major CAGR (%) over the estimated timeframe from 2020 to 2027. The rapidly developing economies of the region including China and India are accelerating the regional market value. Japan is also a major contributor to the regional market value as the region has a strong foothold in the robotics market.
The players profiled in the report include Accuray (US), Arxium (Canada), Ekso Bionics Holdings (US), Hansen Medical (US), Hocoma (Switzerland), Intuitive Surgical (US), Mazor Robotics (Israel), Omnicell (US), and Stryker Corporation (US). The major robotic clinician's players were involved in strategic developments for escalating the profit share in regional as well as the global market. The major investments were announced in the robotic clinicians market for technological advancements along with the changing consumer lifestyle.
Market By Product
Instruments & Accessories
Surgical Robotic Systems
Rehabilitation Robotic Systems
Noninvasive Radiosurgery Robotic Systems
Hospital and Pharmacy Robotic Systems
Other Robotic Systems
Market By Application
Market By Geography
Middle East & Africa
The market for robotic clinicians is expected to reach a market value of around US$ 32,265.7 Mn by 2027.
The robotic clinicians market is expected to grow at a CAGR of around 20.0% from 2020 to 2027.
The technological advancements and increasing funding for medical robots research, issuance of initial public offering (IPOs) by medical robot companies in recent years, advantages offered by robot-assisted training in rehabilitation therapy, and increasing investment on healthcare infrastructure
Accuray (US), Arxium (Canada), Ekso Bionics Holdings (US), Hansen Medical (US), Hocoma (Switzerland), Intuitive Surgical (US), Mazor Robotics (Israel), Omnicell (US), and Stryker Corporation (US) are the
North America held the highest market share in the robotic clinicians market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
In product segment the Surgical Robotic Systems segment is growing at faster pace.