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The medical robots market size valued USD 8.24 billion in 2020 and expected to reach USD 22.87 billion by 2027, at a CAGR of 14.52% during the forecast period 2021-2027. Medical Robots will enable the surgeons to perform surgeries with high precision. Medical robotics is a new and an emerging field of science. There are different medical applications that emerged such as laboratory robots, teleconsultation, telesurgery, rehabilitation robots, remote surgery, surgical robots, to assist deaf and the blind. Medical robots will be used in surgeries to reduce infection risk. Due to the usage of medical robots risks of patients is reduced and accuracy of surgeons will be increased. Currently, robotic surgeries are performed for gynecological, urological, orthopedic, neurological, and gastrointestinal diseases .The scope and application of surgical robots usage is expected to increase over the years owing to their accuracy. Many leading medical device manufacturers enter into the medical robots market by acquiring small-scale surgical robotic system manufacturers. For instance, in 2013, Stryker Corporation has acquired Mako Surgical Corp. and in 2016, Smith & Nephew has acquired Blue Belt Technology that are popular surgical robotic system manufacturers for orthopedic surgeries. Rehabilitation robotics is yet another emerging concept in medical robotics and computer-assisted surgery industry. The involvement of robotic technology in the treatment and rehabilitation of paralyzed and amputees taken the healthcare sector to another level. Several companies now focus on developing advanced robotic prosthetics, orthotics, and exoskeleton. Increase in demand for advanced treatment methods for various severe diseases, increase in prevalence of cardiac and neurological disorders and cancer provides robust market growth. Technological advancements and applications of these technologies in critical surgeries propels medical robots market over the forecast period. Favourable government regulations boost healthcare assistive robots market growth. For instance, Technology-related Assistance for Individuals with Disabilities Act (1988) stimulated the development of assistive technology devices by providing funds to the states. Growing awareness coupled with increase in efforts to promote robotic research will fuel growth of the medical robots market.
