The global medical robots market was valued at around US$ 8.5 Billion at the end of 2021. The market is projected to register a 20.1% CAGR and top a valuation of US$ 63.7 Billion by 2032.
“The upsurge in the demand for the minimally invasive procedures and increasing technological advancements in the products is expected to propel the medical robots market.”
Medical robots are professional service robots that are employed both inside and outside of hospitals to raise the standard of care provided to patients. It helps surgeons to perform operations with more precision. They reduce the workload of medical staff, allowing them to spend additional time to directly caring for patients, while also developing a significant operational procedure that offers efficacy and low-cost investments in healthcare amenities. This is one of the growing sectors to perform a wide range of medical robot applications including laparoscopy, neurosurgery, cardiology, and orthopedic surgery.
Attributes
Details
Medical Robots Market Value in 2021
US$ 8.5 Billion
Medical Robots Market Value in 2032
US$ 63.7 Billion
Medical Robots Market CAGR (2022 to 2032)
20.1%
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What are the Major Drivers Boosting the Demand for Medical Robots Market?
The market will rise as a result of rapid technological advancement including robotic catheter control systems (CCS), data recorders, HD surgical microscopic cameras, motion sensors, 3D-imaging, remote navigation, HD surgical microscopic cameras, remote navigation, and data analytics. Additionally, the increasing number of innovative products receiving FDA approvals would inevitably boost the global medical robots market. Furthermore, key drivers of market expansion are the increased demand for precise laparoscopic procedures and the rising incidence of trauma injuries.
Robotic minimally invasive surgery is becoming increasingly popular, largely as a result of its benefits, which include fewer cuts, smaller incisions, decreased discomfort, reduced scarring, increased safety, and faster recovery rates.
Which Region Shows Strong Growth Potential in the Medical Robots Market?
North America held the largest share in the global medical robots market owing to the implementation of advanced technologies such as capsule robots, imaging systems and developed software. Furthermore, one of the factors contributing to the growth of the North American medical robots market is the increasing demand for automated medical processes.
Apart from North America, the European market is also anticipated to grow at a rapid pace, owing to the increasing demand for robotic devices, an increasing geriatric population with weak bone density levels, rising patient awareness
Furthermore, the Asia Pacific region is also expected to uplift the revenue of the medical robots market. The rising government investments in the healthcare infrastructure, injuries encountered during accidents, and penetration of minimally invasive surgeries, are expected to anticipate the growth of the market during the forecast period.
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Who are the Key Manufacturers in the Medical Robots Market?
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.
Scope of Report
Report Attributes
Details
Growth Rate
CAGR of 20.1% 2022 to 2032
Base Year for Estimation
2021
Historical Data
2017 to 2021
Forecast Period
2022 to 2032
Qualitative Units
Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segment Covered
Product
Application
End User
Region
Region Covered
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa (MEA)
Key Countries Profiled
The USA
Canada
Brazil
Mexico
Germany
The UK
France
Spain
Italy
China
Japan
South Korea
Malaysia
Singapore
Australia
New Zealand
GCC
South Africa
Israel
Key Players
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
Customization
Available Upon Request
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Key Segments Covered in the Medical Robots Industry Survey
By Product:
Instruments and Accessories
Surgical Robots
Assistive Robots
Hospital and Pharmacy automation robots
By Application:
Neurology Applications
Orthopaedic Applications
Cardiology Applications
Laparoscopic Applications
Pharmacy Application
Others
End User:
Hospitals
Ambulatory Surgery Centers
Rehabilitation Centers
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
The Middle East and Africa (MEA)
Frequently Asked Questions
What is the Growth Outlook for the Global Medical Robots Market?
The global medical robots market is anticipated to register a CAGR of 4.1% during the forecast period.
Who are the Prominent Players in the Medical Robots Market?
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 among others are some prominent medical device technologies market players.
