Global Medical Robotics Market 2024: Size, Share, Price, Growth Analysis, Outlook, and Forecast Report Through 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Medical Robotics Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The medical robotics market size has grown rapidly in recent years. It will grow from $12.76 billion in 2023 to $14.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increasing demand for precision and accuracy, increasing acceptance of minimally invasive surgery, growth in chronic diseases, investment in research and development, expanding applications in healthcare.

The medical robotics market size is expected to see rapid growth in the next few years. It will grow to $29.22 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to consumer demand for improved healthcare, regulatory support and standards, accessibility and affordability, demand for remote surgery and telepresence, integration with AI and machine learning. Major trends in the forecast period include patient-centric robotics development, advancements in surgical techniques, rise in minimally invasive surgeries, growing role in rehabilitation, demand for telepresence and remote surgeries.

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Key Market Players:

Major companies operating in the medical robotics market report are Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, GE Healthcare, Philips Healthcare, Boston Scientific Corporation, Intuitive Surgical, Smith & Nephew plc, BD Rowa, KUKA Roboter GmbH, Varian Medical Systems, Kirby, Omnicell, Auris Health Inc., iRobot Corporation, Globus Medical, Hansen Medical, Renishaw plc, Accuray Inc., Kinova Robotics, Hocoma AG, Titan Medical Inc., Ekso Bionics, TransEnterix Inc., ReWalk Robotics, Mazor Robotics, Houston Medical Robotics, ARxIUM, Medrobotics Corporation

Market Drivers:

The rising preference for minimally invasive surgery (MIS) is significantly contributing to the growth of the medical robotics market. Minimally invasive surgery refers to surgery that involves a variety of techniques, including applications of medical robots to operate with less damage to the body than with open surgery. There is a rise in minimally invasive surgeries as they are increasingly being preferred by patients due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, and others. For instance, results of the research, conducted by Johns Hopkins investigators and published in JAMA Surgery, indicate that American hospitals could collectively prevent thousands of post-surgical complications and save between $280 million and $340 million a year by using more minimally invasive procedures instead of traditional open surgery for routine operations of the appendix, colon, and lungs. Similarly, in September 2023, according to the American Society of Plastic Surgeons, a US-based plastic surgeons' professional organization, 26.2 million minimally invasive and surgical treatments were carried out in the US. Therefore, the rising preference for minimally invasive surgery drives the medical robotics market.

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The medical robotics market covered in this report is segmented -

1) By Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-invasive Radiosurgery Systems
2) By Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
3) By End-User: Hospitals And Clinics, Specialty Centers, Rehabilitation Centers

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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