Medical robots market to hit $12.7B by 2025 — Orthopedics to grow at highest rate

Alan Condon -   Print  |

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.

Five insights:

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.

More articles on robotics:
Twin Cities' new CEO on consolidation in orthopedics, value-based care & growth in 2021
Patients expected better outcomes than surgeons after lumbar spine surgery, study says
Woman dies after being hit by car outside Georgia spine clinic

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies here.

Featured Webinars

Featured Whitepapers