Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Medical Robots Market 2030 by Type, Components, Product Type, Modality, Application, End-use and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The Medical Robots Market size is estimated to grow from USD 15.6 Billion in 2022 to reach USD 18.4 Billion by 2030, growing at a CAGR of 17.3% during the forecast period from 2023 to 2030.
Major players Medical Robots Market include: iRobot Corporation, Medrobotics Corporation, Titan Medical Inc., Renishaw Plc, Health Robotics SLR, OR Productivity plc, Intuitive Surgical, Mako Surgical Corp., Varian Medical Systems, Stereotaxis Inc., Mazor Robotics, Medtronic, Stryker, Zimmer Biomet, Smith & Nephew and Others.
The Growth of Medical Robots Market Driven by Increasing demand for precision and minimally invasive procedures in healthcare
The rising demand for precision and minimally invasive procedures in the healthcare sector is a key driver of the Medical Robots Market. Medical robots offer unparalleled accuracy and control, enabling surgeons to perform complex surgeries with minimal tissue damage and faster patient recovery times.
As the preference for less invasive procedures grows, medical robots are being increasingly adopted in various medical specialties, including urology, orthopedics, cardiology, and neurology. The medical community's recognition of the significant benefits provided by these advanced robotic systems in enhancing patient outcomes is expected to drive a substantial increase in the demand for medical robots, thereby contributing to the overall growth of the market.
Rapid advancement of technology in the field of robotics and artificial intelligence
The rapid advancement of technology in robotics and artificial intelligence is a significant catalyst for market growth. With continuous evolution, medical robots are becoming more sophisticated, reliable, and capable of performing complex tasks with exceptional precision. These advancements empower medical robots to assist healthcare professionals in surgeries, diagnostics, patient care, and rehabilitation, resulting in improved accuracy and efficiency.
The integration of AI algorithms and machine learning further amplifies the capabilities of medical robots, enabling them to learn from data, adapt to different scenarios, and make informed decisions. Consequently, patient outcomes are enhanced, complications are reduced, and overall healthcare efficiency is improved.
Furthermore, the medical robotics industry's increasing emphasis on research and development has led to the introduction of innovative robotic technologies, such as robotic exoskeletons, telemedicine robots, and nanorobots for targeted drug delivery. These innovations not only expand the possibilities of medical robots but also offer new avenues for medical professionals to deliver better and specialized care.
As healthcare organizations strive to enhance patient care, optimize processes, and control expenses, the adoption of medical robots is projected to experience rapid growth. Ongoing technological progress and the development of cost-effective robotic solutions will further propel the expansion of the Medical Robots Market in the forthcoming years.
North America Dominated the Medical Robots Market during the forecast period
North America is at the forefront of the market, primarily due to its rapidly growing elderly population facing weak bone density and injuries from accidents. The region benefits from a wealth of lucrative opportunities, a well-established healthcare infrastructure, and a high prevalence of minimally invasive surgeries, all contributing to the market's expansion. The integration of robotics has brought about a significant transformation in the medical field across North America.
Automation, particularly in pharmaceutical manufacturing, has played a crucial role in achieving higher accuracy levels and reducing the workload. Moreover, robotics has effectively addressed the shortage of surgeons and healthcare professionals in the United States, thereby stimulating the market's growth. Additionally, the rising incidence of chronic disorders, including diabetes, cardiovascular diseases, and cancer, has driven a higher demand for automated surgical equipment and surgical robotics in the region.
On the other hand, the Asia-Pacific region is witnessing the most rapid growth in the global medical robots market. This accelerated expansion can be attributed to several key factors. Firstly, there has been a substantial increase in healthcare expenditure in the region, along with a large patient population. Additionally, the region's growth is bolstered by rising government support and funding for healthcare initiatives, as well as the growing trend of medical tourism.
Moreover, ongoing improvements in the healthcare infrastructure of the region are creating more opportunities for the adoption of medical robots. Another critical driver of the medical robots market's growth in the Asia-Pacific region is the increasing awareness among patients in emerging countries such as India and China. This heightened awareness is leading to a higher demand for medical robotic technologies and services, further propelling the market's expansion in the region.
Company Profiles
- iRobot Corporation
- Medrobotics Corporation
- Titan Medical Inc.
- Renishaw PLC
- Health Robotics SLR
- OR Productivity plc
- Intuitive Surgical
- Mako Surgical Corp.
- Varian Medical Systems
- Stereotaxis Inc.
- Mazor Robotics
- Medtronic
- Stryker
- Zimmer Biomet
- Smith & Nephew
Major Classifications are as follows:
By Type
- External Large Robots
- Geriatric Robots
- Assistive Robots
- Miniature in Vivo Robots
By Components
- Actuators
- Sensors
- Robot Controller
- Patient Cart
- Surgeon Console
- Vision Cart
- Dispensing System
- Others
By Product Type
- Surgical Robots
- Telemedicine Robots
- Rehabilitation Robots
- Noninvasive Radiosurgery Robots
- Exo-robots
- Pharma Robots
- Cleanroom Robots
- Robotic Prosthetics
- Medical Service Robots
By Modality
- Compact
- Portable
By Application
- Laparoscopy
- Orthopedic Surgery
- Pharmacy Applications
- Physical Rehabilitation
- External Beam Radiation Therapy
- Neurosurgery
- Others
By End-use
- Hospitals
- Rehabilitation Centers
- Ambulatory surgical centers (ASCs)
- Others
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/qejdp8
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