The development and use of robotic systems in healthcare is expected to surge over the next several years thanks to continuous technological advances, according to a report by BIS Research. The market intelligence firm predicts the global healthcare robotics market will reach $11.4 billion by 2025.
“The advent of robotic systems and massive-scale incorporation by physicians are perceived to be driving the paradigm shift in the healthcare industry,” the report stated. “Enabling physicians to precisely control the outcomes of the medical procedure, the incorporation of robotics systems is acknowledged to be a promising approach to reduce the startling incidence of medical errors globally.”
In 2017, the global healthcare robotics market was valued at $5.4 billion but by 2025 it’s estimated to reach $11.44 billion. Between 2018 and 2023, the market is predicted to have a growth rate of 12.64 percent thanks to an increase in funding for the robotics industry, according to the report.
The healthcare industry has seen a recent trend of using robotics and AI to provide better support to patients. Earlier this month, a report predicted the personal robotics industry—thanks to AI—will be an $18.85 billion market opportunity by 2020, while a Dallas hospital recently showcased an AI robot that helped stock patient rooms, remove dirty linens and take samples to the lab.
Other predictions from the report included:
- The rehabilitation robotics market is expected to witness the highest growth rate between 2018 and 2023.
- The North American healthcare robotics market is expected to have a growth rate of 11.77 percent between 2018 and 2023.
“North America is currently the leading contributor to the global healthcare robotics market. The North America healthcare robotics market was valued at $3.51 billion in 2017,” Pushplata Patel, lead analyst at BIS Research, said in a prepared statement. “Factors, such as increasing cases of chronic diseases, aging populations, and established healthcare infrastructure are driving the growth of the healthcare robotics market in North America.”