Medical Robotics Market Poised to Hit $34.92 Billion by 2029 with Accelerating Growth Trends

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Medical Robotics Market Size Growth Forecast: What to Expect by 2025?
In recent years, we have observed a quick expansion in the size of the medical robotics market. It is projected to escalate from $14.59 billion in 2024 to $16.73 billion in 2025 at a compound annual growth rate (CAGR) of 14.7%. The growth observed in the historic period is ascribed to an increased demand for precision and accuracy, a rise in the acceptance of minimally invasive surgery, the proliferation of chronic diseases, investment in research and development, as well as a more diverse application in the healthcare sector.

How Will the Medical Robotics Market Size Evolve and Grow by 2029?
There is anticipated to be a significant surge in the medical robotics market size in the upcoming years, with an expected value of $34.92 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 20.2%. The predicted growth in this timeframe can be attributed to factors such as the increasing need for enhanced healthcare, support from regulations and standards, attainability and cost-effectiveness, need for remote surgical procedures and telepresence, and integration with artificial intelligence and machine learning. Noteworthy trends projected to occur during the forecast period are the development of robotics focused on patient care, progressive surgical methodologies, escalation in the prevalence of minimally invasive surgeries, expanding role in rehabilitation, and the growing demand for telepresence and remote surgical procedures.

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What Drivers Are Propelling the Growth of Medical Robotics Market Forward?
The medical robotics market is experiencing significant growth, thanks in large part to the increasing popularity of minimally invasive surgery (MIS). This type of surgery leverages a range of techniques that include the use of medical robots, which cause less physical trauma compared to traditional open surgery. The reason for the increased preference for minimally invasive surgeries is the numerous benefits they offer, such as less pain and complications following the procedure, shorter hospital stays, and quicker recovery periods. A study by Johns Hopkins investigators that was published in JAMA Surgery found that widespread use of minimally invasive methods could potentially prevent a significant number of post-operative complications in American hospitals and save about $280 million to $340 million annually. These surgeries would replace traditional ones for common operations like appendectomies, colectomies, and lung procedures. Furthermore, the American Society of Plastic Surgeons reported in September 2023 that 26.2 million minimally invasive surgeries and treatments had been performed in the US. Consequently, the growing preference for minimally invasive surgery is fueling the expansion of the medical robotics market.

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Which Emerging Trends Are Transforming the Medical Robotics Market in 2025?
Partnerships among firms are emerging as a trend in the medical robotics market. Medical robotics industry players are engaging in different types of collaborations to create novel technologies and products. To illustrate, in February 2022, Novanta, a leading advanced photonics company in the US, entered into a strategic partnership with MassRobotics, a US firm specializing in robotics and AI. Novanta's subsidiaries, Celera Motion and ATI Industrial Automation, will work alongside MassRobotics to create breakthroughs in the field of medical and surgical robotics, thereby enhancing robotic efficiency.

What Are the Key Segments in the Medical Robotics Market?
The medical roboticsmarket 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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Who Are the Key Players Shaping the Medical Robotics Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.

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