Medical Telepresence Robots Market Growth & Trends
The global medical telepresence robots market size is expected to reach USD 220.0 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 18.3% from 2022 to 2030. The major factors attributing the industry growth are rising investment in the healthcare infrastructure, along with robotics and technological advancements in healthcare sector. Increasing product launches and rising adoption of telepresence robots for better patient care are some of the other factors boosting market growth.
Based on type, in 2021, mobile telepresence robots dominated the space with a revenue share of 68.0%. Major factors attributable to the larger share are technologically advanced features provided by mobile robotic telepresence systems, along with its benefits over stationary telepresence systems. In addition, this segment is also anticipated to grow at the fastest rate during the forecast period owing to growing adoption of mobile telepresence robots as compared to stationary telepresence robots.
In 2021, based on end-use, the hospitals and assisted living facilities segment dominated the market with a revenue share of 74.6%. Higher adoption of these robots in hospitals and assisted living facilities is a major factor contributing to the higher share of the segment. In addition, owing to rising geriatric population and increasing number of patients with chronic illnesses requiring constant monitoring, home use segment is anticipated to grow at a lucrative rate during the forecast period.
Moreover, COVID-19 positively impacted market growth as these telepresence robots were highly adopted by healthcare facilities for remote patient monitoring. For instance, Providence Regional Medical Center, located in Everett, Washington utilized the InTouch Health Robot named Vici to aid the communication and virtual presence between patients and doctors during the pandemic. In addition, key players in the space are further investing in R&D to satisfy the growing demand and to introduce advanced telepresence robots with innovative medical features.
Growing prevalence of chronic diseases and rising population of people aged 65 and above is further boosting the market growth as these robots support continuous monitoring of patients from distance. In addition, rising investments from government in the R&D sector of AI for introduction of new and advanced robots further fuels market growth.
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Medical Telepresence Robots Market Report
Medical Telepresence Robots Market Report Highlights
- The market size was valued at USD 48.7 million in 2021 and is expected to expand at a CAGR of 18.3% from 2022 to 2030, owing to increasing demand for remote monitoring of patients suffering from chronic diseases
- In 2021, the mobile segment dominated the market and accounted for a revenue share of 68.0% and is also expected to witness the fastest growth over the forecast period. The growth of segment is attributed to advancement in technology and introduction of new devices
- The camera segment dominated the market in 2021 and accounted for revenue share of 22.7%. However, the sensors and control systems segment is expected to showcase faster CAGR of 21.3%
- In 2021, the hospitals and assisted living facilities segment held the largest revenue share of 74.6%. The growth is attributed to rise in health care expenditure and advancement in healthcare infrastructure
- In 2021, North America dominated the market and accounted for revenue share of 40.8%. The growth of this region is attributed to rapid adoption of robotics and artificial intelligence in the healthcare sector and presence of key players in the market
