Westford, USA, Nov. 29, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the medical robot market will attain a value of USD 34.32 Billion by 2031, with a CAGR of 17.4 % during the forecast period (2024-2031). The rising incidence of diseases such as cancer, neurological disorders, and orthopedic neck & spine conditions will create demand for accuracy surgical procedures particularly in the aging population segment, fueling medical robots market growth. Increasing numbers of geriatric patients undergoing surgical procedures also boosts market growth. Ideal for patients and healthcare professionals alike, robotic surgical procedures offer better advantages over traditional open surgeries that can include less pain, shorter recovery times, and decreased complication rates. Compared to traditional techniques, robotic systems provide improved accuracy, adaptability, and control that can enable a surgeon to carry out sophisticated procedures using small incisions. These surgical robots include surgical robotic systems, spine robotic systems, laparoscopic robotic systems and rehabilitation robotic systems. The expansion of the medical robots market share can be attributed to the technological advancements coupled with growing acceptance of laparoscopic procedures, robotic assistance, and advanced medical imaging by surgeon and patients.
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Browse in-depth TOC on the "Global Medical Robots Market"
- Pages - 157
- Tables - 121
- Figures – 77
Medical Robots Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 8.1 Billion |
| Estimated Value by 2031 | $ 34.32 Billion |
| Growth Rate | Poised to grow at a CAGR of 17.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product & Service, Application, End Use, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing awareness of the availability of enhanced robot-assisted rehab care services |
| Key Market Opportunities | Lack of skilled labor to perform robot-assisted surgeries |
| Key Market Drivers | Growing demand for minimally invasive surgeries |
Growing Popularity of Minimally Invasive Surgeries to Increase Popularity for Surgical Robot
According to medical robots market analysis, surgical robots segment accounted for the largest market share. Surgical robots have various advantages such as minimum scaring, aids to decrease transfusion, reduced post-surgery pains and bleeding, less chance of infections, smaller and fewer scars. These robots also offer quick recovery period, less discomfort and pain, and shorter duration of hospitalization fuelling the growth of segment. Surgeons can also massively benefit by using surgical robots due to more precision, more dexterity, and elimination of surgeon hand tremor. Surgeons will also feel less fatigue and get better visualization during surgeries due to camera magnification, which increases its popularity. Surgical robots offer a myriad of applications based on their advantages such as wristed articulation, superior 3-dimensional visualization, enhanced tissue handling, and increased autonomy and control for the surgeon.
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Increasing Use of Medical Robots in Hospitals to Provide Personalized Patient Monitoring
By end-user, hospitals are dominating segment in the market with increasing medical robots market size. In the hospital sector, medical robots are in higher demand as they help with minimum invasive procedures and customized patient monitoring methods used for medical patients suffering from chronic diseases. Medical robots offer cost-efficient and safer medical treatment, assists in surgery, enhance workplace safety, aids for minimally invasive procedures. High prevalence of chronic disease leads to frequent personalized monitoring for patients, which helps in taking better care of patients. These factors are assisting in the growth of the hospital end-user segment and massively contributed to the growth of the market.
Massive Presence of Key Market Players to Lead North America to Dominate Medical Robots Market
In North America the medical robots industry is projected to experience notable growth, owing to the high system of research and development investments. Notable players in this market include Intuitive Surgical, Inc., for its da Vinci Surgical System and Stryker Corporation that develop robotic-assisted surgical platforms like Mako. The above companies have been pioneer leaders in robotic technology to bring precision in surgery and positive patient outcomes, expanding the medical robots market size. Various other major participants continue to contribute their part via technological advancement as well as partnerships that play a role in presenting the dynamic medical robotics landscape in the area. Robotic-assisted surgical systems are the primary focus of companies that aims to expand their robotic surgical platforms by enhancing precision and optimizing patient outcomes.
Medical Robots Market Insights
Drivers
- Growing preference for minimally invasive surgeries
- Rising efficiency of surgical robots in conducting laparoscopic surgery
- Growing technological innovations in medical sector
Restraints
- High maintenance expenses of surgical robots
- Higher costs of the robotics assisted surgeries
- Lack of skilled professionals to perform robot-assisted surgeries
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Segments covered in Medical Robots Market are as follows:
- Product & Services
- Instrument & Accessories, Robotic Systems, Services
- Applications
- Laparoscopy, Orthopaedic Surgery, Pharmacy Applications, Physical Rehabilitation, External Beam Radiation Therapy, Neurosurgery, Other Applications
- End Use
- On-premise solutions, Cloud-based solutions
- End user
- Hospitals, Ambulatory Surgery Centres, Rehabilitation Centres, Other End Users
Key Players Operating in Medical Robots Market
- Intuitive Surgical, Inc.
- Stryker Corporation
- Accuray Incorporated
- Mazor Robotics Ltd. (acquired by Medtronic plc)
- Hansen Medical Inc. (acquired by Auris Health)
- Medrobotics Corporation
- Smith & Nephew plc
- TransEnterix Surgical, Inc.
- Renishaw plc
- ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation)
- Medtronic plc
- Hocoma AG (a subsidiary of DIH International Limited)
Key Questions Answered in the Medical Robot Market Report
- What is the main driver for the growth of the market?
- Who are the leading players in this market?
- Which region has the largest share in the market?
- What are the restraints of the market?
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This report provides the following insights:
- Analysis of key drivers (Growing preference for minimally invasive surgeries, Rising efficiency of surgical robots in conducting laparoscopic surgery), restraints (High maintenance expenses of surgical robots, Higher costs of the robotics assisted surgeries), opportunities (Growing technological innovations in medical sector), and challenges (Lack of skilled professionals to perform robot-assisted surgeries) influencing the growth of medical robot market
- Market Penetration: Comprehensive information on the product offered by the top players in the medical robot market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the medical robot market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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