Medical Robots Market Size, Share, Growth Report 2029
The report "Medical Robots Market by Product & Service (Instruments & Accessories, Robotic Systems), Type (Surgical (Soft: General, Gynecological, Urological; Hard: Knee & Hip, Spine), Rehab, Radiosurgery, Hospital & Pharmacy), End User - Global Forecasts to 2029", is projected to reach USD 33.8 billion by 2029 from USD 16.0 billion in 2024, at a CAGR 16.1%.
Browse 604 market data Tables and 63 Figures spread through 497 Pages and in-depth TOC on "Medical Robots Market by Product & Service (Instruments & Accessories, Robotic Systems), Type (Surgical (Soft: General, Gynecological, Urological; Hard: Knee & Hip, Spine), Rehab, Radiosurgery, Hospital & Pharmacy), End User - Global Forecasts to 2029"
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The growth in the medical robots market is driven by the aging population and rising chronic diseases, improving reimbursement scenario, and subsequent advancements in healthcare funding & infrastructure. The adoption of medical robots is also expected to increase with the increasing need for automation in healthcare. However, the high cost of robotic systems may pose a challenge to the Medical robots market during the forecast period.
Soft tissue surgical robotic system is the fastest growing in the medical robots market in 2023.
Based on type, the medical robots market is segmented into surgical robotic system, rehabilitation robotic systems, radiosurgery robotic systems, and hospital & pharmacy robotic systems. The surgical robotic systems have been further segmented into surgical robotic systems by application - soft tissue surgical robotic system (general surgery, gynecological surgery, urological surgery, and other applications) and hard tissue surgical robotic system (knee & hip surgery and spine surgery). The rehabilitation robotic systems have been further segmented into rehabilitation robotic systems by type - therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems, and other rehabilitation robotic systems. The hospital & pharmacy robotic systems have been further segmented into - pharmacy robotic systems (robotic dispensing systems, compounding robotic systems, and other pharmacy robotic systems) and hospital robotic systems (delivery robotic systems, telepresence robotic systems, diagnostic robotic systems, and other hospital robotic systems).
The soft tissue surgical robotic system sub-segment is the fastest growing surgical robotic system in the medical robots market in 2023, attributing to the increasing prevalence of various conditions such as cancer, appendicitis, obesity, and others. These conditions lead to increased demand for robot-assisted surgical procedures with higher accuracy.
Instruments & accessories are the largest product of the medical robots market in 2023.
Based on products & services, the medical robots market is segmented into robotic systems, instruments & accessories, and services. Among these, instruments and accessories segment accounted for the largest share of the medical robots market in 2023. The recurrent purchase of instruments & accessories to be used with the robotic systems instead of robotic systems leads to the higher adoption of this segment.
By end user, ambulatory surgery centers is the fastest growing in the medical robots market in 2023.
Based on end user, the medical robots market is segmented into hospitals & clinics, ambulatory surgery centers, pharmacies, rehabilitation centers, and other end users. The ambulatory surgery centers segment is expected to be the fastest growing segment of the market. The surgical procedures being offered by ASCs at a lower cost than hospitals drives the higher adoption of ambulatory surgery centers among patients.
North America dominates the global medical robots market in 2023.
The medical robots market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2023, North America accounted for the largest share of the medical robots market. As this region is home to a significant number of medical robots manufacturers. Moreover, the increasing adoption of robotic systems by hospitals in the country, the increasing volume of robotic-assisted surgical procedures, and the favourable reimbursement policies in the region, reinforces its position at the forefront of the medical robots market.
Key Players
Prominent players in the medical robots market include Intuitive Surgical, Inc. (US), Stryker Corporation (US), Medtronic Plc (US), Smith & Nephew Plc (UK), Zimmer Biomet Holdings, Inc. (US), Asensus Surgical, Inc.(US), Zap Surgical Systems, Inc.(US), Renishaw Plc (UK), Hocoma Ag (Switzerland), Accuray Incorporated (US), Elekta (Sweden), Becton, Dickinson And Company (US), Omnicell, Inc. (US), Arxium (Canada), Ekso Bionics Holdings, Inc. (US), Bionik Laboratories Corp. (US), Lifeward, Inc. (Israel), Cyberdyne Inc.(Japan), Avateramedical Gmbh (Germany),Johnson & Johnson (US), and Swisslog Healthcare (Switzerland).
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