The Global Healthcare Service Robots Market was valued at USD 5.1 Bn in 2020 and is expected to reach USD 14.9 Bn by 2027, with a growing CAGR of 16.6% during the forecast period.
Healthcare service robots have huge applications in managing patient logistics, drug development, supply chain management, and help in operating the services behind scenes in the hospitals. Moreover, healthcare service robots are expected to provide an assistive application to doctors & nurses, caregivers, and patients in the hospitals & clinics. Service robots help in performing tasks such as disinfecting floors, preventing the transfer of infection, and providing protection to the health care professionals and staff from outspread of infection.
Healthcare Service Robots Market Dynamics
The driving factors for the global healthcare service robots market include rise in assessment in surgeries, increase in providing direct patient care attention, and growing importance in supply deliveries. Moreover, advantages offered by service robots such as identification and assistance towards surgeries drives the growth of healthcare service robots’ demand. For instance, Mako SmartRobotics™ a software that offers solution for patients suffering from painful arthritis of hip or knee. Mako has 3D CT-based software that picturize the complete anatomy and help surgeon to create personalized joint replacement surgical plan. Such smart invention helps to boost the demand of healthcare service robots Industry.
Besides, advances in technology, growing penetration of software & artificial intelligence in healthcare, and promising reimbursement policies fuels the growth of healthcare service robots demand in the market. Increasing government funding for medical robotic research and growing adaption of service robots in healthcare is expected to fuel the growth of healthcare service robots market. The Xenex Germ-Zapping Robots, PARO therapeutic robots, Cyberknife, and the TUG prove to be the promising healthcare service providing robots. This creates the opportunity for the companies to invent and invest in healthcare service robots market.
Global Healthcare Service Robots Market Segmentation:
By Product & Service
By Applications
By End Users
By Region
Based on type, instruments & accessories segment is expected to hold the largest market share during forecast period owing to rise in use of robots in surgical procedures
Based on type, healthcare service robots market is segmented into instrument & accessories, robotic systems, and services. Instruments & accessories segment is expected to dominate the market during the forecast period due to ongoing research on robots for serving medical services. Besides, emergence of new accessories such as automated hands and pre-functioned fully automated legs for leg abnormalities is expected to leverage the growth of healthcare service robot market in the forecast period.
Based on applications, laparoscopy segment is expected to dominate the market during forecast period due to increase in number of abdominal surgeries
Based on applications, healthcare service robots market is broadly segmented into laparoscopy, pharmacy applications, orthopedic surgery, external beam radiation therapy, physical rehabilitation, and neurosurgery. Laparoscopy segment held largest market share in 2020 due to increasing number of abdominal difficulties and pelvic diseases. Robotic assistance is one of the latest inventions in the field of laparoscopic surgery.
Robotic device named as ‘the da Vinci® system’ of which more than 200 devices are being installed across the world and precisely three devices in India. Growing inventions in surgeries is expected to uplift the demand of this segment in healthcare service robots market.
Based on end users, hospital segment is expected to contribute highest market share during forecast period due to rising number of hospitals and increase in adaption of service robots for patient care
Based on end user, healthcare service robots market is broadly segmented into hospitals, rehabilitation centers, and ambulatory surgery centers. Hospital's segment dominated the healthcare service robots demand in 2020 and expected to maintain same dominance during forecast period. This is due to increase in number of hospital admission and increase in surgical method complications. Moreover, growing demand for minimal invasive, growing assist in streamline hospital logistics, and rising attention for the patients care is anticipated to grow in coming years.
Based on geographical region, North America is expected to dominate the market during forecast period due to increasing use of hospital robots and surgical robots in this region
Based on region, North America dominated the market in 2020 due to presence of lager volume of med-tech companies and increased adoption of service robots in the hospitals. Moreover, rising criticality level in surgeries, growing demand for accurate diseases identification, and ease of carry out patient operations with the help of robots helps to uplift the growth of healthcare service robots demand in this region.
Company Profiles and Competitive Intelligence
The key players operating in the healthcare service robots market are:
The report also provides an in-depth analysis of healthcare service robots market dynamics such as drivers, restraints, opportunities, and challenges
Drivers
Restraints
Opportunity
Challenges
COVID-19 Impact on the Healthcare Service Robots Market Analysis
Covid-19 has accelerated the demand of service robots in healthcare by minimizing or eliminating the contact of patients with the healthcare workforce. This is expected to boost the growth for healthcare service robots demand during the forecast period. Moreover, emergence of service robots helped to minimize the scarcity that was observed in PPE kit. Besides, humanoid service robots gained huge importance during pandemic. Humanoid service robots provided patients and their families morale support during hard time when hospital visits were not possible.
Humanoid service robot in India named ‘Mitra’ assisted covid-19 infected patients in the hospital beds to connect them with their family through a tablet installed in its chest. Mitra could be the doctor, nurse, take readings and vitals, and helped nursing staff or patient about medications. This invention during pandemic time gained immense recognition across the world. This invention gained trust of engineers and physicians to design and use the robots to serve healthcare service. Rising demand for service robots in healthcare is expected to leverage the growth of healthcare service robots Industry across the globe.
The report also provides an in-depth analysis of key trends in the healthcare service robots market
The report also provides an in-depth analysis of recent news developments and investments
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