As the deaths from the COVID-19 pandemic start to increase, the World Health Organization (WHO) has urged citizens to maintain specific social distances. In an attempt to avoid the spread of COVID-19 at the population level, medical robots or healthcare robots are gradually involved in the roles of sanitizing patients' quarters, distributing medications, and supplying meals to ill people. Supplying supplies to households and delivering effective services to injured patients remained a major obstacle, and this is where healthcare robotics is creating a space for them. The new pandemic is growing in demand for healthcare robots as they play a crucial role in the process of drug distribution, patient evaluation, and medical workers' infection control.
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.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Amazon.com Inc., Awabot, Clearpath Robotics Inc., Myomo Inc., OMRON Corp., Panasonic Corp., Savioke Inc., Starship Technologies Inc., and Teradyne Inc. are some of the major market participants. The increasing number of patients with chronic diseases will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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.
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Succeeding in the Wake of the Emergency
Healthcare robots can play a critical role in the current pandemic by reducing human involvement and shielding health staff from infection. This will involve measuring patients' temperatures, disinfecting equipment, measuring specimen swabs and delivering much-needed psychological assistance to patients in isolation. Researchers are now beginning to illustrate the cyclical aspect of technology right after the recession. The COVID-19 contraction would accelerate labor-replacement automation as business sales see a fall. This might have arrived during the 'cultural shock' as automation eliminates low-skilled jobs.
Medical 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.
Key Questions Addressed:
- What is the current state of the global healthcare robotics industry?
- What key market trends are affecting the growth of the market?
- How will the global healthcare robots market develop through 2025?
- Which companies are important players?
- What is the size of the global healthcare robot market opportunity?
- What are the strategic recommendations for market participants?
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