Medical Robotic Systems Market Size Worth USD 94.33 Billion in 2032 | Emergen Research

The global medical robotic systems market size was USD 21.20 Billion in 2022 and is expected to register a revenue CAGR of 16.1% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for medical robots owing to their performance is a major factor driving the market revenue growth. Medical robots are designed to aid surgeons during operations or procedures on patients who require assistance in recovering from an illness or accident.

Medical robots have reduced the danger of infection in hospitals by reducing necessity for human touch with patients. Robotic systems enable minimally invasive procedures, such as laparoscopic and robot-assisted surgeries, resulting in smaller incisions, reduced pain, and shorter recovery times, hence making them attractive to both patients and healthcare providers which is driving the market revenue growth. Many medical robots are equipped with advanced imaging and visualization technologies, providing surgeons with a better view of the surgical site which leads to more informed decision-making.

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Rising technological advancements is another factor driving the market revenue growth. For instance, in July 2023, PickNik Robotics, a Colorado-based software company that specializes in unstructured robotics environments, announced a strategic partnership with SKA Custom Robots and Machines, a robotics engineering firm. The firms seek to use their collaboration to accelerate the development of advanced robotic systems by leveraging PickNik Robotics' software experience and SKA's hardware engineering capabilities.

Market Overview:

The research report on the Medical Robotic Systems market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Medical Robotic Systems business sphere.
Based on the competitive landscape, the market report analyzes the key companies operating in the industry:

Intuitive Surgical, Medtronic, Zimmer Biomet, Accuray Incorporated, Ekso Bionics, Renishaw plc, Medical Device Business Services, Inc., Stereotaxis, Inc., CMR Surgical Ltd, Asensus Surgical US, Inc., Titan Medical Inc., Aethon, Neocis, Inc., Vicarious Surgical, Capsule Technologies, Inc., Omnicell, Microbot Medical Inc., XACT Robotics, Maxar Technologies, iRobot Corporation.

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Some Key Highlights From the Report

• The surgical robots segment accounted for largest revenue share in 2022. Rising demand for surgical robots owing to various advantages such as surgeons being able to offer least invasive and more precise solutions for many complex surgical operations, ranging from knee replacements to cancer therapy, owing to the use of robotic-assisted surgery which is a major factor driving revenue growth of this segment. The robot's hands are extremely dexterous, allowing surgeons to operate in very small areas in the body that would typically require open surgery. Robotic and minimally invasive surgery have smaller incisions, resulting in less discomfort and scars hence contributing to revenue growth of this segment. Using robotic technology, surgeons may execute difficult surgical procedures through tiny incisions results in improving surgeons' accuracy and flexibility as a result driving revenue growth of this segment.

• The diagnostic robots segment accounted for a significantly large revenue share in 2022. Rising demand for diagnostic robots since they utilize Artificial Intelligence (AI) to develop monitoring systems that detect symptoms that can indicate a specific disease or deterioration in a patient's health and provide advice to physicians based on these findings which is a major factor driving revenue growth of this segment. It also assists patients in better understanding their illness and adhering to their tailored treatment plans.

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Emergen Research has segmented the global medical robotic systems market on the basis of type of robot, application, product type, end-use, specialty, and region:

• Type of Robot Outlook (Revenue, USD Billion; 2019-2032)
o Surgical Robots
o Rehabilitation Robots
o Diagnostic Robots
o Telemedicine Robots
o Pharmacy Automation Robots
o Radiosurgery Robots
o Robotic Prosthetics and Exoskeletons
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Minimally Invasive Surgery
o Orthopedic Surgery
o Neurosurgery
o Gynecological Surgery
o Urological Surgery
o Cardiac Surgery
o General Surgery
o Rehabilitation and Physical Therapy
o Diagnostic and Imaging
o Telemedicine and Remote Surgery
o Pharmacy Automation
o Radiosurgery and Radiotherapy
o Prosthetics and Exoskeletons
• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Robotic Systems
o Instruments and Accessories
o Services
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Ambulatory Surgical Centers
o Rehabilitation Centers
o Diagnostic Centers
o Pharmacy and Compounding Centers
o Research and Academic Institutions
• Specialty Outlook (Revenue, USD Billion; 2019-2032)
o Laparoscopy/General Surgery Robots
o Orthopedic Surgery Robots
o Neurosurgery Robots
o Gynecological Surgery Robots
o Urological Surgery Robots
o Cardiac Surgery Robots
o Other Specialty Robots

Radical Highlights of the Medical Robotic Systems Market Report:

• Comprehensive overview of the Medical Robotic Systems market along with analysis of the changing dynamics of the market

• Growth Assessment of various market segments throughout the forecast period

• Regional and global analysis of the market players, including their market share and global position

• Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market

• Impact of the technological developments and R&D advancements on the Medical Robotic Systems market

• Information about profit-making strategies and developmental strategies of major companies and manufacturers

• Insightful information for the new entrants willing to enter the market

• Details and insights about business expansion strategies, product launches, and other collaborations

• The report incorporates advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, feasibility analysis, and investment return analysis

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