Medical Robots Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Medical Robots Market size was estimated at USD 16.1 billion in 2023 and is projected to reach USD 32.4 billion in 2030 at a CAGR of 15.3% during the forecast period 2024-2030.
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The medical robots market is transforming healthcare by integrating advanced robotics into various medical practices, enhancing precision, efficiency, and innovation. Medical robots are predominantly used in minimally invasive surgeries, which involve small incisions, offering greater accuracy and control.
Key Findings
· On the basis of Type, the type segmentation of the medical robotics market, including equipment, service, and consumables, drives market growth by catering to diverse needs. The equipment segment, dominating in 2022, encompasses fundamental modules such as controller units and manipulators—robot arms with jointed segments, sensors, drive systems, and effectors. The procurement of complete robotic systems is capital-intensive, undergoing stringent regulatory checks and clinical trials before market entry.
· On the basis of Product, The diverse product segmentation in the medical robotics market, including surgical, rehabilitation, noninvasive radiosurgery, hospital, pharmacy, emergency response, logistics/handling, and imaging robots, fosters robust market growth by addressing various medical needs. Rehabilitation robots, dominating in 2023, enhance patient recovery by facilitating movement practice through robotic devices.
· On the basis of Application, The application segmentation of the medical robotics market into areas such as neurology, oncology, orthopedics, laparoscopy, cardiology, aesthetic surgery, rehabilitation, and angiography drives market growth by addressing specific medical needs with precision and efficiency. The laparoscopy segment, holding the largest market share in 2022, exemplifies this impact.
Competitive Landscape
· iRobot Corporation
· Titan Medical Inc.
· Hansen Technologies
· Renishaw plc
· Intuitive Surgical
· Medtronic
· DENSO Products and Services Americas, Inc.
· Accuray Incorporated
· Stryker
· Varian Medical Systems, Inc.
· Stereotaxis, Inc.
· Ekso Bionics
· CYBERDYNE INC.
· BIONIK
· Smith+Nephew
· Zimmer Biomet
· Omnicell. Inc.
· ARxIUM
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The medical robots market is witnessing vigorous expansion, catalyzed by the escalating demand for robotic minimally invasive surgeries. These procedures offer myriad advantages, including reduced incisions, diminished discomfort, expedited recovery periods, and augmented surgical precision facilitated by advanced visualization technologies such as high-definition cameras.
The burgeoning prevalence of intricate surgical interventions, notably knee and hip replacements, further amplifies the demand for surgical robots. Technological advancements—encompassing motion sensors, robotic catheter control systems, three-dimensional imaging, and the increasing frequency of FDA approvals for innovative products—are substantially accelerating market growth.
Emerging economies present considerable opportunities, propelled by a surge in surgical procedures, burgeoning medical tourism, and conducive regulatory frameworks. Nevertheless, the exorbitant costs associated with robotic systems, exemplified by the da Vinci system and CyberKnife, alongside substantial maintenance expenses, constitute significant impediments to market proliferation.
Notwithstanding these challenges, the market is anticipated to sustain its growth trajectory, with future projections heralding continuous technological innovation and strategic expansion in emerging markets. This will invariably lead to broader adoption and heightened precision in medical interventions, thereby transforming the landscape of contemporary healthcare.
Regional Analysis
North America to Dominate the Market
North America holds the largest market share in the medical robots market, attributed to several key factors. The region is home to numerous medical robot manufacturers, which fosters innovation and availability. Additionally, there is a significant and growing adoption of robotic systems by hospitals, reflecting a preference for advanced medical technologies.
The increasing volume of robotic-assisted surgical procedures further drives market growth, as these procedures offer enhanced precision and patient outcomes. Favorable reimbursement policies in North America also support the widespread use of medical robots, reinforcing the region's leading position in the global market.
Recent Developments
In July 2022, Becton, Dickinson & Company (US) acquired Parata Systems (US) to offer a portfolio of innovative pharmacy automation solutions aimed at reducing costs, enhancing patient safety, and improving the patient experience for retail, hospital, and long-term care pharmacies.
In April 2024, iRobot Corporation launched the Roomba Combo Essential Robot, enhancing affordability and expanding access to robotic cleaning technology for a broader customer base.
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In addition to the market data for the Medical Robots Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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