Global Medical Robotics Market Analysis – 2023-2033

According to the Market Statsville Group (MSG), the Global Medical Robotics Market size is expected to grow at a CAGR of 16.4% from 2023 to 2033.

Medical robots are professional service robots that are utilized both within and outside of hospitals to raise the standard of care provided to patients. Consequently, medical staff are able to spend more time caring for patients directly, while substantial operational procedures are created, reducing the cost of healthcare amenities and increasing efficiency. There are numerous applications for medical robots, such as telepresence robots for remote caregiving, disinfectant robots to control hospital-acquired infections, and robotic exoskeletons that provide external support and muscle training while undergoing rehabilitation. In a hospital environment, medical robots are employed to transport drugs and other delicate items.

The benefits of robotic-assisted in surgery and robot-assisted rehabilitation therapy training, technological advancements in robotic systems, an improved reimbursement environment, rising adoption of surgical robots, and increased funding for medical robot research are the main drivers of this market's growth. Moreover, one of the major barriers preventing this industry from expanding in the upcoming years is the high cost of robotic systems and the high cost of maintenance has also hindered the market growth over the forecast period. In additional, the adoption of robots in the health care industries in emerging countries has created a lot of opportunities in this market over the forecast period. Due to its high accuracy, many doctors prefer this surgery.

Market Segmental Analysis, 2023-2033

Based on products & services, the market is divided into instruments & accessories, robotic systems, and services. The robotic systems segment accounted for the largest market share in 2023. This market is expanding as a result of robotic systems incorporating technical advancements including speech recognition, adaptive programming, better sensors, and cloud technology to boost their effectiveness and usability.

Based on the regions, the global medical robotics market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific accounted for the largest market share in 2023. The increasing geriatric population with weak bone density levels and injuries encountered during accidents is expected to positively reinforce market growth in the coming years. The major elements anticipated to propel market expansion in the Asia Pacific area are the existence of growing opportunities, improved healthcare infrastructure, penetration of minimally invasive operations, and increased patient awareness. Robotics offers the next wave of transformation since automation is becoming essential to pharmaceutical manufacturing, maintaining greater standards of accuracy, and reducing workload.

Key Market Players, 2023

The Major key players in the global medical robotics market are:

·         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

Recent Development

·         In January 2021, Freehand, a UK-based medtech company, had announced a partnership with Imperial Medical Solutions (IMS), a clinician-led healthcare consultancy, to support the adoption of its new surgical robots by hospitals in Sri Lanka, India, Malaysia and the Caribbean.

Report Scope of the Global Medical Robotics Market

This market research study categorizes the medical robotics market-based on product $ services, application, solution, and end user area at the regional and global levels.

By Products & Services Outlook (Sales, USD Million, 2019-2033)

·         Instrument & Accessories

·         Robotic Systems

·         Services

By Application Outlook (Sales, USD Million, 2019-2033)

·         Laparoscopy

·         Orthopedic Surgery

·         Pharmacy Applications

·         Physical Rehabilitation

·         External Beam Radiation Therapy

·         Neurosurgery

·         Other Applications

By Solution Outlook (Sales, USD Million, 2019-2033)

·         On-premises solutions

·         Cloud-based solutions

By End User Outlook (Sales, USD Million, 2019-2033)

·         Hospitals

·         Ambulatory Surgery Centers

·         Rehabilitation Centers

·         Other End Users

By Region Outlook (Sales, USD Million, 2019-2033)

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   Germany

o   Italy

o   France

o   UK

o   Spain

o   Poland

o   Russia

o   The Netherlands

o   Norway

o   Czech Republic

o   Rest of Europe

·         Asia Pacific

o   China

o   Japan

o   India

o   South Korea

o   Indonesia

o   Malaysia

o   Thailand

o   Singapore

o   Australia & New Zealand

o   Rest of Asia Pacific

·         South America

o   Brazil

o   Argentina

o   Colombia

o   Rest of South America

·         The Middle East & Africa

o   Saudi Arabia

o   UAE

o   South Africa

o   Northern Africa

o   Rest of MEA