Report : North America Medical Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Surgical Robots, Hospital & Pharmacy Robots, Rehabilitation Robots, Non-Invasive Radiosurgery Robots, and Others), Application (Laparoscopy, Neurology, Orthopedics, Gynecology, Urology, Cardiology, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)
At 18.7% CAGR, the North America Medical Robots Market is speculated to be worth US$ 11,112.23 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America medical robots market was valued at US$ 3,982.30 million in 2022 and is expected to reach US$ 11,112.23 million by 2028, registering an annual growth rate of 18.7% from 2022 to 2028. Surging number of surgical procedures and rising number of product launches and approvals are the critical factors attributed to the market expansion.
There is a rise in the number of surgeries performed across the region. The incidence of cardiovascular diseases has increased in many countries over the last 25 years. In the region, the rise in diabetic cases and changes in lifestyle are increasing the number of cardiovascular surgeries and general surgeries. Cancer and diabetes are among the leading causes of mortality across the region. As per a study by the American Cancer Society (ACS), in 2021, ~1.9 Million new cancer cases were diagnosed in the US. In addition, according to the study published by the American Society for Metabolic and Bariatric Surgery, in 2019, around 252,000 weight loss surgeries were performed in the US. The increasing number of surgical procedures creates a need for robotic surgery instruments. Therefore, the staggering prevalence of chronic conditions and the rising number of surgical procedures generate the demand for robotic surgery instruments. The number of road accidents is increasing across the region. The surging number of road accidents eventually leads to the rise in the number of orthopedic procedures and treatments, which, in turn, is boosting the growth of the medical robots’ market across the region.
On the contrary, high cost of surgical procedures and installation hurdles the growth of North America medical robots market.
Based on product, the North America medical robots market is segmented into surgical robots, hospital & pharmacy robots, rehabilitation robots, non-invasive radiosurgery robots, and others. The surgical robots segment held 37.4% market share in 2022, amassing US$ 1,489.01 million. It is projected to garner US$ 4,062.78 million by 2028 to expand at 18.2% CAGR during 2022–2028.
Based on application, the North America medical robots market is segmented into laparoscopy, neurology, orthopedics, gynecology, urology, cardiology, and others. The laparoscopy segment held 35.5% market share in 2022, amassing US$ 1,411.82 million. It is projected to garner US$ 3,975.47 million by 2028 to expand at 18.8% CAGR during 2022–2028.
Based on end user, the North America medical robots market is segmented into hospitals, ambulatory surgical centers and others. The hospitals segment held 58.5% market share in 2022, amassing US$ 2,330.09 million. It is projected to garner US$ 6,600.92 million by 2028 to expand at 19.0% CAGR during 2022–2028.
Based on country, the North America medical robots market has been categorised into the US, Canada, and Mexico.
Our regional analysis states that the US captured 79.8% market share in 2022. It was assessed at US$ 3,179.07 million in 2022 and is likely to hit US$ 8,939.17 million by 2028, exhibiting a CAGR of 18.8% during the forecast period.
Key players dominating the North America medical robots market are Accuray Incorporated, ARxIUM, Auris Medical, Ekso Bionics, Hocoma AG, Intuitive Surgicals, Kirby Lester, Medtronic, Omnicell Inc., and Stryker Corporation among others.
- In Feb 2022, UMC Health System Partnered with Omnicell for Advanced Services Solutions to Streamline Medication Management and Enhance Clinical and Operational Outcomes. Omnicell, Inc., a leading provider of medication management and adherence tools for health systems and pharmacies, announced that UMC Health System in Lubbock, Texas, has selected Omnicell’s comprehensive portfolio of Advanced Services solutions to support key pharmacy initiatives, including acute care, outpatient, retail, and 340B program strategies.
- In Feb 2022, Capsa Healthcare, a leading innovator in healthcare delivery solutions for hospitals, long-term care, and retail pharmacy providers announced the acquisition of Humanscale Healthcare, a designer and manufacturer of flexible technology solutions and computing workstations based in New York, NY.
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