The Medical Robotics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Robotics Global Market Report 2024, The medical robotics market size has grown rapidly in recent years. It will grow from $12.76 billion in 2023 to $14.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increasing demand for precision and accuracy, increasing acceptance of minimally invasive surgery, growth in chronic diseases, investment in research and development, expanding applications in healthcare.
The medical robotics market size is expected to see rapid growth in the next few years. It will grow to $29.22 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to consumer demand for improved healthcare, regulatory support and standards, accessibility and affordability, demand for remote surgery and telepresence, integration with AI and machine learning. Major trends in the forecast period include patient-centric robotics development, advancements in surgical techniques, rise in minimally invasive surgeries, growing role in rehabilitation, demand for telepresence and remote surgeries.
The rising preference for minimally invasive surgery (MIS) is significantly contributing to the growth of the medical robotics market. Minimally invasive surgery refers to surgery that involves a variety of techniques, including applications of medical robots to operate with less damage to the body than with open surgery. There is a rise in minimally invasive surgeries as they are increasingly being preferred by patients due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, and others. For instance, results of the research, conducted by Johns Hopkins investigators and published in JAMA Surgery, indicate that American hospitals could collectively prevent thousands of post-surgical complications and save between $280 million and $340 million a year by using more minimally invasive procedures instead of traditional open surgery for routine operations of the appendix, colon, and lungs. Similarly, in September 2023, according to the American Society of Plastic Surgeons, a US-based plastic surgeons’ professional organization, 26.2 million minimally invasive and surgical treatments were carried out in the US. Therefore, the rising preference for minimally invasive surgery drives the medical robotics market.
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The medical robotics market covered in this report is segmented –
1) Medical Robotics Market By Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-invasive Radiosurgery Systems
2) Medical Robotics Market By Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
3) Medical Robotics Market By End-User: Hospitals And Clinics, Specialty Centers, Rehabilitation Centers
Top Major Players
Johnson & Johnson
Medtronic PLC
Siemens Healthineers AG
Stryker Corporation
GE Healthcare es
Major companies operating in the medical robotics market are focusing on innovative products, such as robotic platforms, to better meet the needs of their existing consumers. A robotic solution is an all-encompassing application or solution that uses robotic technology to meet specific jobs, issues, or demands. For instance, in May 2023, Robocath, a France-based company that manufactures and markets medical robotic solutions for heart-related diseases, launched an innovative robotic platform called the R-One+. The R-One+ robotic system enables interventional cardiologists to execute coronary angioplasties by operating the devices employing a centralized control command unit in the cathlab or control room. This option offers two primary advantages. Initially, it shields the cardiologist and the medical staff from radiation-related harm, and secondly, it facilitates and secures the PCI process. Cardiologists may now execute improved hand gestures with higher precision and in more conducive working settings, which helps patients.
The medical robotics market report table of contents includes:
1. Executive Summary
2. Medical Robotics Market Characteristics
3. Medical Robotics Market Trends And Strategies
4. Medical Robotics Market – Macro Economic Scenario
5. Global Medical Robotics Market Size and Growth
…..
32. Global Medical Robotics Market Competitive Benchmarking
33. Global Medical Robotics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Robotics Market
35. Medical Robotics Market Future Outlook and Potential Analysis
36. Appendix
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