Categories: Market Research

Medical Robots Market Growth Outlook Through 2024-2033

Overview and Scope
A medical robot is an expert service robot that refers to a type of multipurpose device used in and outside of hospitals to raise the standard of care provided to patients and it is employed in complicated surgical procedures, limb replacement, stroke patient rehabilitation, and other health-related duties. The medical robot is used in the medical sciences to help with surgeries, improve patient care and worker safety, and streamline clinical workflow and hospital logistics.

Sizing and Forecast
The medical robots market size has grown exponentially in recent years. It will grow from $13.51 billion in 2023 to $16.24 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to minimally invasive surgery, aging population, telemedicine and remote surgery, chronic diseases, food and beverage.

The medical robots market size is expected to see exponential growth in the next few years. It will grow to $34.15 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to customization and personalization, ai and machine learning integration, patient care and companion robots, pharmacy automation, nanorobotics. Major trends in the forecast period include technology advancements,cryotherapy and aesthetic procedures, biobanking and biopreservation, cryogenic storage solutions, rocket propulsion
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Segmentation & Regional Insights
The medical robots market covered in this report is segmented –

1) By Type: Hospital and Pharmacy Robotic Systems, Surgical Robotic Systems, Noninvasive Radiosurgery Robotic Systems, Rehabilitation Robotic Systems, Other Types
2) By Solutions: On-Premises, Cloud
3) By Application: Cardiology, Laparoscopy, Pharmacy, Neurosurgery, Orthopedic Surgery, Other Applications
4) By End Users: Specialty Centers, Hospitals and Clinics, Rehabilitation Centers, Other End Users

North America was the largest region in the medical robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical robots market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rising demand for precise and proper laparoscopic operations is expected to propel the growth of the medical robots market going forward. The laparoscopic operation allows a surgeon to perform complex procedures within the abdomen without having to place his hands directly into the body cavity. medical robots market are more efficient at performing laparoscopic procedures. As a result, there is rising demand for precise and proper laparoscopic operations that boost market growth. For instance, in March 2022, the Cleveland Clinic, a US-based nonprofit academic medical centre, stated that over 13 million laparoscopic procedures have been performed globally every year and are projected to grow by 1% over the next five years. Therefore, the rising demand for precise and proper laparoscopic operations is driving the growth of the medical robots market.

Key Industry Players
Major companies operating in the medical robots market include Smith and Nephew plc, Strikers, Aethon, Intuitive Surgical Inc, Major Robotics, Intouch Technologies Inc, Renishaw plc, MedTech SA, Ekso Bionics Holdings Inc, ReWalk Robotics, Medrobotics Corporation, McKesson Corporation, Hocoma AG, Cyberdyne Inc., BD Rowa, Stryker Corporation, Medtronic plc, Zimmer Biomet Holdings Inc., Johnson & Johnson Services Inc., Hansen Medical Inc., Corindus Vascular Robotics Inc., CMR Surgical Ltd., Procept BioRobotics Corporation, TransEnterix Surgical Inc., Mazor Robotics Ltd., Auris Health Inc., Titan Medical Inc., Accuray Incorporated, Synaptive Medical Inc., Omnicell Inc., Varian Medical Systems Inc., Elekta AB

The medical robots market report table of contents includes:

1. Executive Summary

2. Medical Robots Market Characteristics

3. Medical Robots Market Trends And Strategies

4. Medical Robots Market – Macro Economic Scenario

5. Global Medical Robots Market Size and Growth
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31. Global Medical Robots Market Competitive Benchmarking

32. Global Medical Robots Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Medical Robots Market

34. Medical Robots Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players: