Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Asia-Pacific Medical Robots Market, The Asia-Pacific Medical Robots Market size was valued at USD 4.12 billion in 2023 & is projected to reach USD 12.05 billion by 2030. The market is also estimated to grow at a CAGR of around 17.20% during the forecast period, i.e., 2024-30. Along with this, the market is estimated to grow at a CAGR of around 17.20% during the forecast period. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Asia-Pacific Medical Robots Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2024-2030
- Market Size by 2023: USD 4.12 billion
- CAGR (2024-2030): 17.20%
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Asia-Pacific Medical Robots Market Segmentation Breakdown:
The Asia-Pacific Medical Robots Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
By Product Type
- Surgical Robots- Market Size & Forecast 2019-2030, USD Million
- Orthopedics- Market Size & Forecast 2019-2030, USD Million
- Neurology- Market Size & Forecast 2019-2030, USD Million
- Urology- Market Size & Forecast 2019-2030, USD Million
- Gynecology- Market Size & Forecast 2019-2030, USD Million
- Others (Cardiology, Dental, etc.)- Market Size & Forecast 2019-2030, USD Million
- Rehabilitation Robots- Market Size & Forecast 2019-2030, USD Million
- Therapeutic- Market Size & Forecast 2019-2030, USD Million
- Assistive- Market Size & Forecast 2019-2030, USD Million
- Prosthetic- Market Size & Forecast 2019-2030, USD Million
- Orthotic- Market Size & Forecast 2019-2030, USD Million
- Exoskeleton- Market Size & Forecast 2019-2030, USD Million
- Hospital & Pharma Robots- Market Size & Forecast 2019-2030, USD Million
- Traditional Robots- Market Size & Forecast 2019-2030, USD Million
- Collaborative Robots- Market Size & Forecast 2019-2030, USD Million
- Telepresence Robots- Market Size & Forecast 2019-2030, USD Million
- Others (Medical Transportation Robots, Cleaning Robots, etc.)- Market Size & Forecast 2019-2030, USD Million
Surgical Robots segments have been gaining substantial market share, owing to their extensive applications in several diseases like CVD, and cancer, among others.
By End User
- Hospitals & Clinics- Market Size & Forecast 2019-2030, USD Million
- Rehabilitation Centers- Market Size & Forecast 2019-2030, USD Million
- Ambulatory Surgical Centers- Market Size & Forecast 2019-2030, USD Million
- Others (Pharmacies, Nursing Homes, etc.) Market Size & Forecast 2019-2030, USD Million)
Geographical Growth Insights:
By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
The India Medical Robots Market has shown amazing growth, including the dominance of the market. This dominance has been attributed to the large geriatric population of the country.
MarkNtel Advisors Highlights Key Market Drivers for Asia-Pacific Medical Robots Market:
Increasing Instances of Medical Error – In recent years, Asia-Pacific countries such as India, Australia, etc., have been experiencing a surge in several deaths related to medical errors. Human error in medical procedures related to diagnosis, medicine prescription, or surgeries has been accelerating the instances of harmed patients. This growing need to cater to the increasing number of patients and reduce medical error injuries has been contributing to the growing adoption of medical robots for these purposes.
Also, the cases of patients with chronic diseases, accidents, etc., have been accelerating in the region, which requires medical care. The increasing number of patients also requires an increment in healthcare professions, which has been lacking across the region. Consequently, this has been further exacerbating the instances of medical errors, and healthcare professionals have to look after several cases in a day. This is further expected to accelerate the demand for medical robots across the regional market.
A Comprehensive Analysis of Leading Companies in Asia-Pacific Medical Robots Market
- Intuitive Surgical Operations, Inc.
- Medtronic plc
- Siemens Healthneers
- Stryker
- Accuray Incorporated
- Aethon, Inc.
- Asensus Surgical
- Johnson & Johnson Services, Inc.
- Bionik Labs
- Globus Medical
- Trivitron Healthcare
- Others
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Asia-Pacific Medical Robots Market Recent Development:
- 2024: Intuitive Surgical received approval from regulatory authorities in China to market its Ion surgical robot system.
- 2024: Medicaroid Corporationannounced it received regulatory approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for the use of the hinotori Surgical Robot System in thoracic surgery.
What are the growth Challenge driving the Asia-Pacific Medical Robots Market?
Lack of Skilled Labour Across the Region – Medical robots are highly advanced technology that requires skilled labor to operate these devices. Also, these robots require consistent maintenance and service as they are highly critical for patient care across medical facilities. However, Asia-Pacific countries lack skilled labor forces, owing to which, the adoption of medical robots has been limited across the region. In addition to maintenance, the operation of surgical robots is also highly critical and requires specific training for the individuals who would operate them. Hence, the region also lacks medical professionals eligible to operate the surgical robots. Consequently, the lack of skilled labor has been hampering the adoption of medical robots across the region.
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