Blog: Medical Robots Market is expected growing at a CAGR of 22.0% during the forecast period 2017–2023
According to Infoholic Research, the Medical Robots Market is expected to reach $17.58 billion by 2023, growing at a CAGR of 22.0% during the forecast period 2017–2023. The increased adoption of medical robots in hospitals and pharmaceuticals, the growing ageing population, and the increasing patients’ preference for minimally invasive surgeries are forcing organizations to focus on developing innovative solutions. The increasing demand for managed care and shortage of professionals in the healthcare domain are some of the additional factors contributing to the market growth.
The healthcare industry is characterized by several challenges such as high costs, care delivery failures and overtreatment that escalates healthcare costs and negatively impacts patient outcomes. This has led to an increased adoption of robots in the healthcare sector. Medical robots help surgeons to perform critical operations with precision thereby improving patients’ health. The use of robots in surgeries is also helpful in reducing human errors. The increase in funding for R&D of medical robots, technology advancements, increasing hospital investments on medical robots and issuance of IPOs by medical robots’ companies are the major driving factors for the market growth.
The report provides an in-depth analysis of the Medical Robots market aiming to offer end-users with innovative medical robots, which enable surgeons in performing critical surgeries with greater precision. The report discusses about products, applications in surgical areas, and regions. With the information offered, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and public private partnerships (PPPs) interest toward the adoption of medical robots in the healthcare industry. Further, the report provides details about the major challenges impacting the market growth. The report also covers the profiles of major companies.