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Medical Robots Market Key Drivers, Size, Trends, Growth, Outlook 2024-2033
Medical Robots Market Key Drivers
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According to The Business Research Company's, The medical robots market size has grown exponentially in recent years. It will grow from $13.51 billion in 2023 to $16.24 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to minimally invasive surgery, aging population, telemedicine and remote surgery, chronic diseases, food and beverage.
The medical robots market size is expected to see exponential growth in the next few years. It will grow to $34.15 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to customization and personalization, ai and machine learning integration, patient care and companion robots, pharmacy automation, nanorobotics. Major trends in the forecast period include technology advancements,cryotherapy and aesthetic procedures, biobanking and biopreservation, cryogenic storage solutions, rocket propulsion
.
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Market Drivers and Trends:
The rising demand for precise and proper laparoscopic operations is expected to propel the growth of the medical robots market going forward. The laparoscopic operation allows a surgeon to perform complex procedures within the abdomen without having to place his hands directly into the body cavity. medical robots market are more efficient at performing laparoscopic procedures. As a result, there is rising demand for precise and proper laparoscopic operations that boost market growth. For instance, in March 2022, the Cleveland Clinic, a US-based nonprofit academic medical centre, stated that over 13 million laparoscopic procedures have been performed globally every year and are projected to grow by 1% over the next five years. Therefore, the rising demand for precise and proper laparoscopic operations is driving the growth of the medical robots market.
Technological advancements are a key trend gaining popularity in the medical robots market. Major companies operating in the medical robots market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Diligent Corporation, a US-based healthcare robotics company, created Moxi, an AI-enabled robot that can handle time-consuming logistical tasks in hospitals such as setting up patient rooms and replenishing supplies. Moxi is able to deliver teleboxes, manage the """"do not tube"""" medications, and pick up patients' personal items. Moxi's core technical features comprise social intelligence, mobile manipulation, and human-guided learning. This launch represents another step forward for Diligent's product portfolio.
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Major Key Players of the Market:
Smith and Nephew plc, Strikers, Aethon, Intuitive Surgical Inc, Major Robotics, Intouch Technologies Inc, Renishaw plc, MedTech SA, Ekso Bionics Holdings Inc, ReWalk Robotics, Medrobotics Corporation, McKesson Corporation, Hocoma AG, Cyberdyne Inc., BD Rowa, Stryker Corporation, Medtronic plc, Zimmer Biomet Holdings Inc., Johnson & Johnson Services Inc., Hansen Medical Inc., Corindus Vascular Robotics Inc., CMR Surgical Ltd., Procept BioRobotics Corporation, TransEnterix Surgical Inc., Mazor Robotics Ltd., Auris Health Inc., Titan Medical Inc., Accuray Incorporated, Synaptive Medical Inc., Omnicell Inc., Varian Medical Systems Inc., Elekta AB
Medical Robots Market 2024 Key Insights:
• The medical robots market size is expected to see exponential growth in the next few years. It will grow to $34.15 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%.
• Surge In Demand For Precise Laparoscopic Operations Drives Medical Robot Market Growth
• Technological Advancements In The Medical Robots Market
• North America was the largest region in the medical robots market in 2023
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