The global medical robots market is projected to reach $12.7 billion by 2025, up from about $5.9 billion in 2020, according to research from Markets and Markets.
1. The market is expected to increase at a compound annual growth rate of 16.5 percent.
2. Market growth is attributed to benefits of robotic-assisted surgery, an improving reimbursement setting, increased adoption of robots and rising funding for robotic research.
3. The high cost of robots is projected to hamper market growth in the coming years.
4. The orthopedic surgical robot market segment is set to grow at the highest CAGR during the forecast period, which is attributed to the accuracy of these robots.
5. Hospitals are expected to account for the largest share of the market in 2020, but ASCs are projected to account for the highest growth rate during the forecast period.