|Status : Published||Published On : Jan, 2021||Report Code : VRHC1237||Industry : Healthcare||Available Format :||Page : 128|
The global healthcare service robots market in 2019 was valued at USD 465.0 million and is proactively expected to rise to USD 2,900.0 million by 2025, growing at a CAGR of 27.2% during the forecast period. The industry is multiplying due to increasing investment in the development of healthcare infrastructure, the focus on controlling hospital-acquired infections, and deployment of healthcare service robots during the novel coronavirus pandemic.
Healthcare services are also currently exploring the potential of technologies such AI, ML algorithms, and sensors for robotic systems. Healthcare robots are form of skilled service robot used in and out of the hospital to increase the overall quality of patient care. They ease the workload of medical personnel, enabling them to spend more time caring for the patients directly, while generating substantial operational efficiencies and reducing healthcare facilities costs.
The numerous applications of today’s medical robots include remote care telepresence robots, hospital acquired infection control robotic disinfectants, blood drainage robots and muscle recovery exoskeletons for robotics and remote medical robot. Increased automation technology, improvement in technical advances, booming population growth and reduced mortality rate, rising human impairment, an acute shortage of healthcare professional supplies, the need for better surgeons, an increase in the quality of life for the elderly and the disabled are some of the driving forces for the international health-robots industry.
Based on the applications
• Applications from Neurology
During the forecast era, the section of orthopedic surgery application should report the highest CAGR. The high growth of this segment can mainly be attributed to the advantages such as high implantation and robotic positioning accuracy during orthopedic operations.
Based on Product type
• Surgical Robots
• Rehabilitation Robots
• Robots for Telemedicine
• Robots for Pharmacy and Hospital Automation
• Robots for Non-Invasive Radiation and Robotic Catheters
Rapid advances in surgical robots along with increasing per-capita healthcare costs in developing countries, and increased demand for minimally invasive surgeries (MIS) or Da Vinci System are some of the main factors in the global market that lead to a higher share of surgical robots.
Based on component segmentation:
• Security Systems
• Locomotive Systems
• Interface Applications
• Software Platforms
• Power Resources and Visualization Systems
Based on the component robots involved in Security systems is having the highest scope. Although billions are spent on R&D in self-sufficient cars, indoor commercial space robots reap the benefits of technology and costs for sensors, computer science, machine learning, and open-source software. As the budget for commercial security expenses rises and a largely untapped market availability increases, the safety robot’s industry is expected to expand at a significant rate.
• North America
• Rest of the World
In general, North America is the market leader for medical robots because of the increased patient awareness of the use of modern, advanced technologies that pave the way for massive potential growth in this area. In the future, the market will be rising more rapidly, primarily because of the high level of medical initial investments in the USA. The European zone in terms of market share is led by North America. Since creative policies to enhance the well-being and public health of European governments are being implemented, Europe expects to expand considerably soon. The Asia-Pacific region with its fast-changing medical infrastructure is the other region of high growth in the healthcare sector. Moreover, the key reasons for the remarkable growth rates in this area are rising disposable income levels, technological advances, and rapidly evolving lifestyle scenarios.
Key players in the global healthcare robot’s market:
• Irobot Corporation
• Hansen Medical Inc
• Ekso Bionics Holdings Inc
• Titan Medical Inc
• Accuray Inc
• Intuitive Surgical Inc
• MAKO Surgical Corp
• ZOLL Medical Corp
• Varian Medical Systems
• Kirby Lester LLC
• Mazor Robotics Ltd
• Aurora Biomed Inc
• Roche Holding AG
• Biotek Instruments Inc
Number of robotic companies can be listed as manufacturers of robotic systems and industrial robotic companies such as collaborative robots or cobots dominate the global medical services robots. Companies work continuously with academic and medical organizations to extend the field of the service robot.
The sector has seen some 59 amazing innovations over the last five years (January 2016-June 2020). This included 33 product releases and developments, including 20 synergistic operations 2 mergers and acquisitions, and 4 funding activities. In addition to expanding the global presence and supply, most businesses are substantially creating new products for the restructuring of the marketplace. New deals are also the dominant tactics of the contributors. The key reasons behind the region's remarkable growth rates are evolution and rapidly evolving lifestyle scenario.
Global Healthcare Service Robots Market Forecast
Due to the growing investment in health infrastructure growth, the industry is increasing in number, the emphasis on managing hospitably acquired infections, and the use of robots during the latest coronavirus pandemic. The area of health care also discusses the future technologies of robotic systems for example, artificial intelligence, machine learning algorithms and sensors. It is therefore predicted that in the next five years these developments will have an important effect on the demand of healthcare robots and the market is expected to expand multiplies.
Global Healthcare Service Robots Market in Pandemic:
The ongoing COVID 19 pandemics has resulted in global demand for medical infrastructure disinfections care and faster operations. As there have been substantial rises in the footfall in hospitals and other health facilities, the Governing Authority has had to explore technical solutions to improve the global infrastructure for it to provide better care.
There has been an enormous interest in using robotics to help tackle the outbreak of COVID-19, and that for good reason: More robots indicate less interaction between people, which ensures that less health workers would get sick. This also decreases transmission to the population and uses less supplies of the PPE. Meanwhile, telemedicine has been growing sharply to allow doctors and nurses to reach patients without the risk of being infected. And even though robots have not communicated with patients so far, it is not so far-fetched to imagine a potential future.
News Update for Global Healthcare Service Robots:
To prevent COVID- 19 population level transmission, the World Health Organization has informed people around the world of physical distancing. Supplying essentials to homes and supplying care in high-risk areas, such as hospitals, has remained a problem, and in many cases, people are now turning towards robots.
In Bangkok's Chulalongkorn University, engineering students have used medical ninja robotics to make it useful for stroke patients with COVID-19 patients. Similarly, an ultraviolet (UV) light robot is used to clean the plant in Johannesburg, South Africa. Emphasis was placed on the role of robots in disinfection, cleaning, and telecommunication.
Healthcare robotic projects: In Edinburgh, AI and robotics experts work to build the first health robots which can have a conversation with more than one person. This is a project intended to support elderly people but one day it might be used to tackle virus outbreaks. The EU Horizon 2020 funded new project is socially pertinent gerontological robots (SPRING). In social circumstances, SPRING will create new robots to interact with many individuals. Europe and Asia are involved with SPRING’s eight research institutes. SPRING is a 4-year long project, which is one of its drawbacks but there’s a hope and we can assume that the latest pandemic will have subsided well before that.
The first project declared by the National Robotarium was the campaign for the development of socially assistive robots. The goal is to develop a world-leading centre for robotics and AI, a collaboration between Heriot-Watt and Edinburgh. The new building will open in 2021 on the campus of Heriot-Watt. This project builds on the popularity of a conversational AI device called Alana, the Heriot-Watt Amazon Alexa Prize winner. There is a new spin-off firm named Alana AI which will concentrate on the next generation of users' interfaces for conversation.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
Source: VynZ Research
Source: VynZ Research