Austin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- “According to SNS Insider, The Medical Robots Market Size was valued at USD 14.9 Billion in 2023 and is projected to reach USD 57.0 Billion by 2032, growing at a compound annual growth rate (CAGR) of 16.06% from 2024 to 2032.”
Surge in Medical Robots Market Driven by Technological Advancements and Growing Healthcare Needs
The increasing rate of technological innovations and healthcare automation are driving the Medical Robots market. These factors are mainly because the growing prevalence of chronic diseases and the aging population are calling for precise surgical interventions, especially in minimally invasive surgeries. The advantages of robotic assistance in surgeries, including lesser post-operative complications and shorter hospital stays, are also contributing to the growing pace of this sector.
Other reasons supporting the market expansion include rising neurological and orthopedic diseases along with high expenditure on R&D activities. The two large sources of growth remain to be Asia-Pacific and Latin America due to continued increasing levels of surgical treatments that in turn enhance the inflow of patients. Has witnessed cheap treatment coupled with effective regulation leading Medical Robots companies to the country of attraction, India.
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Key Medical Robots Market Players:
- Intuitive Surgical, Inc.
- Stryker Corporation
- Medtronic Plc
- Becton, Dickinson, and Company
- Omnicell, Inc.
- Arxium
- Asensus Surgical, Inc.
- Zap Surgical Systems, Inc.
- Renishaw Plc
- Smith & Nephew Plc
- Zimmer Biomet Holdings, Inc.
- DIH Holdings US Inc.
- Accuray Incorporated
- CMR Surgical
- Ekso Bionics Holdings, Inc.
- Bionik Laboratories Corp.
- Lifeward, Inc.
- Cyberdyne Inc.
- Avateramedical GmbH
- Johnson & Johnson
- Swisslog Healthcare
- Relay Robotics
- Aethon
- Xenex Disinfection Services Inc.
- Zoll Medical Corporation
Medical Robots Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 14.09 Billion |
| Market Size by 2032 | US$ 57.0 Billion |
| CAGR | CAGR of 16.06% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Addressing Medication Errors and Minimally Invasive Surgery Needs
The growing demand for medication error reduction is driving automation in healthcare through medical robots, such as Automated Dispensing Machines (ADMs), which significantly reduce the error rate and improve the safety of patients. While the rise in minimally invasive surgeries is driving surgical robots, these enhance the precision and efficiency of such complex procedures. It supports the growing demand for such effective healthcare solutions, also addressing the trend towards increasing automation in medication safety, and hence, governments throughout the world are increasing their support to these innovations creating a safer healthcare environment.
Dominance of Surgical Robots and Rise of Rehabilitation Systems in the Medical Robots Market
In 2023, surgical robots had a strong 65% share of the medical robots market, mainly in the use of minimally invasive surgeries such as orthopedics and neurosurgery because of their precision and less recovery time. Increasing their use in hospitals enhances the accuracy of surgery and outcomes for patients. Rehabilitation robots are growing at the fastest rate and are expected to increase by over 17% CAGR, mainly because of aging populations and therapy advancement. These systems enhance patient mobility and provide rehabilitation centers with a way to offer effective, individualized care.
Laparoscopy's Dominance and the Rapid Growth of Neurosurgery
Medical Robots will be dominated by laparoscopy in 2023, with approximately 40% share due to minimal invasiveness and effectiveness in new surgical practices. Surgical robots continue to gain traction as patients seek faster recovery and reduced complications. Neurosurgery will continue its leadership growth at 19% CAGR, as there is a need for precision in surgical outcomes. This ensures that the surgical site becomes safe and less risky to perform; hence, robotic-assisted neurosurgery has a greater desirability for adoption by hospitals and surgical centers.
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Medical Robots Market Key Segmentation:
By Robotic System
- Surgical Robots
- Rehabilitation Robots
- Telepresence Robots
- Others
By Application
- Laparoscopy
- Radiation Therapy
- Orthopedic Surgery
- Neurosurgery
- Pharmacy
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Rehabilitation Centers
- Others
North America's Market Leadership and Asia-Pacific's Growth Potential in Medical Robots
The region of North America dominated the market share of Medical Robots up to 51.2% in 2023, due to its established healthcare structures and a substantial investment in robotic technology. Greater adoption rates of minimally invasive surgical procedures within this region fuel the demand for robotic solutions that provide an improvement in operational accuracy and security. Ongoing research and development efforts continue to ensure that ongoing advancement achieves an efficient health landscape.
Asia-Pacific Medical Robots market is going to grow heavily from 2024 to 2032 mainly due to the quest by an aging population for surgical options with minimal invasiveness. This growth is seen to be largely driven through and by China, which has a great advance in terms of health technologies and investment in robotics. India emerges as another positive player whose growth is seen in an improvement in healthcare infrastructure with rising patient awareness, which will place the region more as a future hub of the development of Medical Robots.
Key Developments in the Medical Robots Market
- In April 2024, iRobot Corporation launched the Roomba Combo Essential Robot, which will provide consumers with more affordable robotic cleaning solutions.
- In May 2024, Medrobotics Corporation sold its assets to address bankruptcy issues, and its market share in the industry went down.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Medical Robots Market Segmentation, by Robotic System
8. Medical Robots Market Segmentation, by Application
9. Medical Robots Market Segmentation, by End-User
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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