Strong Growth Ahead: Medical Robotics Market Size To Grow At Arecord 20.6% Cagr By 2029

The Medical Robotics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Medical Robotics Market?
The size of the medical robotics market has seen a swift expansion in the past few years. The market, which stands at $14.59 billion in 2024, is projected to surge to $16.86 billion in 2025, showcasing a Compound Annual Growth Rate (CAGR) of 15.6%. This significant expansion during the historic phase can be credited to the escalating demand for precision and accuracy in procedures, a rising inclination towards minimally invasive surgery, an increase in chronic diseases, investment in R&D and the growing applications in the field of healthcare.

The market size of medical robotics is projected to witness significant expansion in the upcoming years, with a valuation of $35.66 billion expected in 2029, growing at a Compound Annual Growth Rate (CAGR) of 20.6%. Factors anticipated to influence this increase during the forecast period include improved healthcare demands from consumers, established regulations and standards, accessible and affordable services, need for remote surgeries and telepresence, along with the inclusion of artificial intelligence (AI) and machine learning. Key trends during the forecast period are the development of robotics centered around patient needs, progress in surgical methods, increased interest in minimally invasive surgeries, rising application in rehabilitation, and the demand for telepresence and remote surgeries.

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What Are the Different Medical Robotics Market Segments?
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

Subsegments:
1) By Surgical Robotics Systems: Robotic-Assisted Surgical Systems, Minimally Invasive Surgical Robots, Teleoperated Surgical Robots
2) By Rehabilitation Robotics Systems: Exoskeletons for Rehabilitation, Robotic Therapy Devices, Assistive Robots for Patient Mobility
3) By Non-invasive Radiosurgery Systems: Stereotactic Radiosurgery Systems, CyberKnife Systems, Gamma Knife Systems

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What Are the Primary Drivers Shaping the Medical Robotics Market?
The medical robotics market is witnessing significant growth due to the increasing favourability towards minimally invasive surgery (MIS). MIS is a method which involves employing various techniques, medical robots included, to perform operations with minimal bodily harm compared to traditional open surgery. The attraction towards minimally invasive surgeries has escalated owing to the reduced postoperative discomfort, fewer postoperative complications, shorter duration of hospital stays, quick recovery periods, among others. According to a study conducted by researchers at Johns Hopkins and published in JAMA Surgery, American hospitals could prevent thousands of postoperative complications and save an estimated $280 million to $340 million annually by opting for more MIS procedures instead of conventional open surgeries for routine appendix, colon, and lung operations. Similarly, the American Society of Plastic Surgeons reported in September 2023 that in the US, 26.2 million minimally invasive and surgical treatments were performed. Consequently, the escalating favourability towards MIS propels the growth of the medical robotics market.

Which Companies Are Leading in the Medical Robotics Market?
Major companies operating 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 Major Trends Shaping the Medical Robotics Market?
One notable trend gaining traction in the medical robotics market is the strategic partnerships among businesses. To create innovative technologies and products, corporations within the medical robotics sector are embarking on several collaborations. For example, in February 2022, Novanta, an advanced photonics company based in the US, revealed a strategic partnership with the US-based robotics and AI firm, MassRobotics, to foster advancements in medical and surgical robotics. The collaboration will involve Novanta's business divisions, specifically Celera Motion and ATI Industrial Automation, working with MassRobotics to conceive advanced medical or surgical robotic solutions and enhance robotic efficiency.

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What Are the Top Revenue-Generating Geographies in the Medical Robotics Market?
North America will be the largest region in the medical robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Robotics Market?
2. What is the CAGR expected in the Medical Robotics Market?
3. What Are the Key Innovations Transforming the Medical Robotics Industry?
4. Which Region Is Leading the Medical Robotics Market?

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