Covid 19 Impact Analysis: Healthcare Robotics

Healthcare Robotics Market Overview

Healthcare robotics has helped the practitioners in performing the surgical operation with precision and less invasive techniques. This field has decreased the threats involved like infections, life risks, and pains. On observing the current market trends, the global medical robotics market is anticipated to reach a 23 % annual growth rate during the survey period. Demands for high precision surgical methods, increasing usage, and technological developments are the major factors driving this market. This technology is being used in endoscopy, gynecology, open surgery, and other complicated procedures for minimally invasive operations.

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Technological Advancements:

Over the period, the evolution in innovation and technology has played a significant role in contributing to the growth of the global medical robots industry. The innovation of robotic partial nephrectomy techniques has led to increase the technical advances in the performance of partial nephrectomy surgery and improved the outcomes of nephron sparing surgery. Moreover, due to the advancements in robotic surgical methodology, patients are getting benefits such as shortened hospital stay and reduced pain after surgery. Additionally, advances in robotic colonoscopy helps to remove risks of cross infection of the colonoscope to the patient. These factors are anticipated to present a lucrative growth opportunity for the global medical robots market in the coming years.

The market for healthcare robots was already emerging, and now the pandemic is adding impetus to market growth. The stimulating effects are expected to boost development, demand, and investment in this industry. Robotics companies, integrators, and value-added suppliers have many opportunities to service this sector and gain market share and mindshare. The pandemic is also attracting investment for both existing companies and startups that want to take advantage of the current momentum in the healthcare robots market. All of this presents a chance for large companies to diversify and for small companies to identify and develop products and services for niche healthcare markets. Omdia expects the global healthcare robots market to grow from $1.9bn in 2019 to $5.4bn by 2025.

This Market Landscape report explores some of the ways robots are helping to combat the pandemic. Omdia examines how this health crisis will affect both the robotics industry and the healthcare industry now and in the future. The report provides a concise examination of the market issues surrounding healthcare robots and drones and presents a market outlook through 2025 that assesses the impact of the COVID-19 pandemic. It discusses crucial market dynamics and industry applications, in addition to providing recommendations for healthcare enterprises and vendors. Omdia also provides a categorized list of the top 24 industry players, organized by application.

COVID-19 Market Effect

The 2002-2004 SARS pandemic has indelibly altered the business climate for healthcare robots. Nearly 8,000 people were affected and 700 were killed. In addition, MERS affected 200 and killed about 40 of them. They were all limited to different territories. COVID-19, on the other hand, as a pandemic, has had a larger influence on the global economy. The SARS and MERS outbreaks contributed to a new era of creativity with the advent of disinfection robots that produce UVD light to combat against infectious viruses and bacteria on hospital surfaces.

If COVID-19 continued to grow globally, UVD robots makers would expand significantly, and if the pandemic was bought under control, healthcare robots would be developed exponentially to decrease the risk of infective infection in hospitals. The healthcare robots market was expected to hit with a significant growth rate in 2020-2021. Owing to production reductions and supply distresses, the healthcare robotics demand was minimally affected in 2020. That would contribute to a decline of BPS 180. But the sector is now starting to see blue sky as the main development region such as China is beating the recession and moving up.

Medical Robotics Market Industry News

The global medical robotics market is one of the latest advancements in the medical field and is receiving a healthy response from around the globe. Still, high overall costs of the equipment and lack of trained professionals is limiting the market’s growth rates. The American region is the current market leader and will stay at the top, with the highest growth rates during the survey period.

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