Press release
Global Medical Robotics Market: Accelerating Growth, Key Drivers, and Emerging Trends
Medical Robotics Market Insights
What Is The Projected Market Size Of The Global Medical Robotics Market And Its Growth Rate?
The global medical robotics market has been undergoing rapid expansion:
• 2024 Market Size: $14.59 billion
• 2025 Market Size: $16.86 billion (15.6% CAGR)
• Projected 2029 Market Size: $35.66 billion (20.6% CAGR)
This growth is spurred by a rise in chronic diseases, advancements in surgical techniques, and growing demand for telepresence and remote surgeries.
What Is Driving The Growth In The Medical Robotics Market?
The significant growth in the medical robotics market is primarily driven by the rising preference for minimally invasive surgery (MIS). Medical robots offer the advantage of minimal damage to the body compared to open surgery. The decrease in postoperative pain, complications, shorter hospital stays, and quick recovery times are attracting more patients towards MIS. According to research by Johns Hopkins investigators, American hospitals could prevent thousands of post-surgical complications and save between $280 million and $340 million per year by replacing traditional open surgery with minimally invasive procedures. Furthermore, in September 2023, the American Society of Plastic Surgeons reported that 26.2 million minimally invasive and surgical treatments were conducted in the US. This growing preference for minimally invasive surgery continues to drive the medical robotics market.
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Who Are the Key Players Driving Medical Robotics Market Growth?
Key players in the medical robotics market include:
• Johnson & Johnson
• Medtronic plc
• Siemens Healthineers AG
• Stryker Corporation
• GE Healthcare
• Philips Healthcare
• Boston Scientific Corporation
• Intuitive Surgical
• Smith & Nephew plc
• KUKA Roboter GmbH
• Varian Medical Systems
• Kirby
• Omnicell
• iRobot Corporation
• Globus Medical
• Hansen Medical
• Renishaw plc
• Accuray Inc.
• Kinova Robotics
• Hocoma AG
• Titan Medical Inc.
• Ekso Bionics
• TransEnterix Inc.
• ReWalk Robotics
• Houston Medical Robotics
• Medrobotics Corporation
What Are The Key Trends In The Medical Robotics Market?
Key trends driving the market include:
• Patient-centric robotics development
• Advancements in surgical techniques
• The rise in minimally invasive surgeries
• Growing role of robotics in rehabilitation
• Rising demand for telepresence and remote surgeries
What Are The Segments Of The Global Medical Robotics Market?
The global medical robotics market is segmented as follows:
• Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-invasive Radiosurgery Systems
• Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
• End-User: Hospitals And Clinics, Specialty Centers, Rehabilitation Centers
Which Region Leads The Medical Robotics Market?
North America will be the largest region in the medical robotics market in 2024, but Asia-Pacific is expected to grow the fastest in the forecast period. The market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Medical Robotics Global Market Report?
- Market Size Analysis: Analyze the Medical Robotics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Medical Robotics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Medical Robotics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Medical Robotics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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