Medical Robotics Market Report 2024 (Global Edition)

Global Medical Robotics Market Report 2024 Market Size Split by Type (External Large Robots, Geriatric Robot, Assistive Robots, Miniature in Vivo Robots), by Application (Neurology Applications, Cardi...

Medical Robotics Market Report Description

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Competitive Landscape of the Medical Robotics Market

The major players in the industry are creating a range of strategic plans to increase their market share and obtain an advantage over their rivals. To increase their knowledge and range of products, major businesses are concentrating on strategic activities like mergers and acquisitions, partnerships, collaborations, fundraising, and investments, as well as creative product creation and launches. 

Medical Robotics Industry News

April 2023: The fourth-generation, highly advanced Da Vinci Xi Robotic System was introduced by Apollo Cancer Centres in Navi Mumbai. It has applications in paediatric and gastrointestinal surgery, urology, oncology, gynecology, thoracic surgery, liver transplantation, and kidney transplantation.

(Source: https://health.economictimes.indiatimes.com/amp/news/hospitals/apollo-launches-da-vinci-xi-robotic-surgical-system-for-complex-surgeries/99190065)

September 2022: Under the terms of their limited development program agreement, Titan Medical and Medtronic will evaluate how well Titan's instruments and cameras work in gynecological procedures. This is in line with Titan Medical's goal to use its surgical robot primarily for gynecological procedures.

(Source: https://ir.titanmedicalinc.com/news-events/press-releases/detail/366/titan-medical-signs-definitive-agreement-with-medtronic)

February 2022: Located in New York, NY, Humanscale Healthcare is a designer and manufacturer of flexible technology solutions and computer workstations. Capsa Healthcare is a major innovator in healthcare delivery solutions for hospitals, long-term care facilities, and retail pharmacy suppliers.

Top Companies Market Share in Medical Robotics Industry: (In no particular order of Rank)

• Stereotaxis Inc (U.S.)
• Titan Medical Inc (Canada)
• Hansen Technologies (Australia)
• Renishaw plc (U.K.)
• iRobot Corporation (U.S.)
• Intuitive Surgical (U.S.)
• Varian Medical Systems Inc.(U.K.)
• DENSO Products and Services Americas Inc (U.S.)
• Accuray Incorporated (U.S.)
• BIONIK (U.S.)
• Medtronic (Ireland)
• Stryker (U.S.)
• Ekso Bionics (U.S.)
• CYBERDYNE INC(Japan)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Medical Robotics Market

Which Region will dominate the Medical Robotics  Market in 2024?

According to Cognitive Market Research, North America dominated the medical robotics market in 2024 and accounted for around 40% of the global revenue due to the region's growing engagement in research and development. Advanced medical robotic systems are being developed by healthcare institutions and technology companies in partnership. Because they are being used more often in various surgical procedures, medical robots are becoming very popular in the region.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific is anticipated to be the fastest-growing region in the medical robotics market in the forecast period. A significant demand for medical robots that could aid in the treatment of age-related illnesses and procedures is anticipated in the region due to the anticipated increase in the aging population. Additionally, as medical robots become more prevalent in the area, local businesses are investing more money there in addition to foreign direct investments.

The current report Scope analyzes Medical Robotics Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Medical Robotics Market

According to Cognitive Market Research, the global medical robotics market size was estimated at USD 6281.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 2512.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031 ascribed to its quickly expanding senior patient group, which is dealing with conditions like brittle bone density and accident-related injuries. The area offers substantial and profitable prospects, a robust healthcare system, and a high rate of minimally invasive surgical procedures, all of which support the market's growth. Additionally, the field of robotics has completely transformed the medical business in this area due to the growing significance of automation in pharmaceutical manufacture, which strives to reach greater precision levels and minimize workload. Moreover, the North America medical robots market is expected to experience notable advancements in the laparoscopic application sector. Laparoscopic operations are increasing in number due to the increased desire for less invasive surgical procedures. In this regard, the laparoscopic techniques contribute to a decrease in trauma, shortened hospital stays, and pain following surgery.

• According to Cognitive Market Research, the US had a major share in the medical robotics market with a market size of USD 1982.35 million in 2024 and is projected to grow at a CAGR of 14.2% during the forecast period due to the region's robust healthcare infrastructure, growing investment in cutting-edge equipment development from key firms, a higher incidence of patient adoption of minimally invasive surgery, and a rise in research activities.
• The Canada medical robotics market had a market share of USD 301.50 million in 2024 and is projected to grow at a CAGR of 15.2% during the forecast period because there are more people with neurological illnesses and chronic diseases are more common.

• The Mexico medical robotics market is projected to witness growth at a CAGR of 14.9% during the forecast period with a market size of USD 228.64 million in 2024.

 

Europe Medical Robotics Market

According to Cognitive Market Research, with a market value of USD 6281.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1884.36 million. The European market has experienced growth because to the existence of large competitors, a well-organized healthcare system, an increase in the need for minimally invasive surgeries, and government support for medical robots. In order to gain a firm foothold in the market, market participants are also actively engaged in strategic innovations and intent on obtaining capital. Furthermore, it is expected that the medical robotics industry would reap significant benefits in the years to come due to the government's increasing attempts to advance healthcare infrastructure and the resulting interest from overseas investors seeking to support automated instruments. Moreover, because of an increase in surgical laparoscopy procedures conducted worldwide and an increase in the deployment of surgical robots, the laparoscopy application sector is anticipated to have the greatest market during the projected period in this region.

• The United Kingdom medical robotics market had a market share of USD 316.57 million in 2024 and is projected to grow at a CAGR of 15.5% during the forecast period as a result of the growing number of elderly people and the increased need for minimally and non-invasive surgical procedures. 

• The France medical robotics market is projected to witness growth at a CAGR of 13.9% during the forecast period with a market size of USD 173.36 million in 2024.
• According to Cognitive Market Research, the Germany medical robotics market size was valued at USD 373.10 million in 2024 and is projected to grow at a CAGR of 14.9% during the forecast period due to rising healthcare costs per capita and a rise in the number of people having minimally invasive surgeries. 
• The Italy medical robotics market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 377.23 million in 2024.
• The Russia medical robotics market is projected to witness growth at a CAGR of 13.7% during the forecast period with a market size of USD 292.08 million in 2024.
• The Spain medical robotics market is projected to witness growth at a CAGR of 13.8% during the forecast period with a market size of USD 154.52 million in 2024.
• The Luxembourg medical robotics market is projected to witness growth at a CAGR of 14.8% during the forecast period with a market size of USD 58.42 million in 2024.
• The Portugal medical robotics market is projected to witness growth at a CAGR of 14.5% during the forecast period with a market size of USD 39.57 million in 2024.
• The Greece medical robotics market is projected to witness growth at a CAGR of 15.0% during the forecast period with a market size of USD 22.61 million in 2024.
• Rest of Europe medical robotics market is projected to witness growth at a CAGR of 13.4% during the forecast period with a market size of USD 292.08 million in 2024.

Asia Pacific Medical Robotics Market

According to Cognitive Market Research, the global Medical robotics market size was estimated at USD 6281.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1444.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031. This region is one of the most promising for medical robotics due to the constantly changing healthcare infrastructure throughout the Asia-Pacific area and the growing trend of automation in the medical industry. A strong demand for medical robots and a notable rise in the use of instrument-based services are driving China's expansion in the Asia-Pacific region. A shortage of skilled surgeons and physiotherapists in the area is also fueling this demand spike. In addition, the majority of the medical robots market is accounted for by the hospital sector. Asia Pacific's hospitals are equipped with state-of-the-art facilities for advanced medical care, including surgery and diagnostics. Hospitals are also seeing a rise in the number of patients seeking minimally invasive surgeries, which is pushing them to use robotic technology to streamline invasive procedures.

• According to Cognitive Market Research, the China medical robotics market size was valued at USD 650.10 million in 2024 and is projected to grow at a CAGR of 17.7% during the forecast period because of the region's strong healthcare system, rising investment in the creation of innovative equipment from major companies, an increase in the number of patients undergoing minimally invasive surgery, and an increase in research activities.

• The Japan medical robotics market is projected to witness growth at a CAGR of 16.7% during the forecast period with a market size of USD 199.37 million in 2024.
• The India medical robotics market had a market share of USD 173.36 million in 2024 and is projected to grow at a CAGR of 20.0% during the forecast period because of an increase in the number of persons undergoing minimally invasive surgeries and growing healthcare costs per capita.
• The South Korea medical robotics market is projected to witness growth at a CAGR of 17.3% during the forecast period with a market size of USD 144.47 million in 2024.
• The Australia medical robotics market is projected to witness growth at a CAGR of 17.9% during the forecast period with a market size of USD 75.12 million in 2024.
• The South East Asia medical robotics market is projected to witness growth at a CAGR of 19.2% during the forecast period with a market size of USD 99.68 million in 2024.
• The Rest of Asia Pacific medical robotics market is projected to witness growth at a CAGR of 18.0% during the forecast period with a market size of USD 102.57 million in 2024.

 

South America Medical Robotics Market

According to Cognitive Market Research, the global Medical robotics market size was estimated at USD 6281.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 314.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031 due to hospital industry consolidation and the growing number of private companies joining the healthcare market. Additionally, a big patient pool, rising government financing and support, rising medical tourism, improved regional healthcare infrastructure, and rising healthcare expenditures are the main factors driving the greatest development in the region. Furthermore, the market for medical robots is expanding as a result of rising patient awareness in emerging nations. In addition, due to their increasing acceptability in physiotherapy for the treatment of neurological illnesses like stroke, which are associated with mobility disabilities, rehabilitation robots are expected to have the fastest rising share in Latin America. The number of patients receiving medical robot treatment is rising along with the expanding significance of therapy procedures.

• According to Cognitive Market Research, the Brazil medical robotics market size was valued at USD 134.42 million in 2024 and is projected to grow at a CAGR of 16.2% during the forecast period because chronic diseases are more prevalent and neurological ailments affect a greater number of people.
• The Argentina medical robotics market had a market share of USD 52.76 million in 2024 and is projected to grow at a CAGR of 16.5% during the forecast period due to the aging population and the rising demand for minimally invasive and non-invasive surgical procedures.

• The Colombia medical robotics market is projected to witness growth at a CAGR of 15.4% during the forecast period with a market size of USD 27.95 million in 2024.
• The Peru medical robotics market is projected to witness growth at a CAGR of 15.8% during the forecast period with a market size of USD 25.75 million in 2024.
• The Chile medical robotics market is projected to witness growth at a CAGR of 15.9% during the forecast period with a market size of USD 22.61 million in 2024.
• The Rest of Latin America medical robotics market is projected to witness growth at a CAGR of 14.7% during the forecast period with a market size of USD 50.56 million in 2024.

 

Middle East and Africa Medical Robotics Market

According to Cognitive Market Research, the global Medical robotics market size was estimated at USD 6281.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 125.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031. The Middle East and Africa's healthcare settings are experiencing a growing demand for advanced surgical robots due to rising per capita healthcare costs and a rise in patients undergoing minimally invasive surgical procedures. The need for surgical, rehabilitative, and other robots is being driven by the increased prevalence of chronic diseases and the rise in patients with neurological problems. Throughout the forecast period, hospitals will account for the majority of end users in the Middle East and African medical robots market. The category's dominance is mostly attributable to the growing use of technologically sophisticated products, the effectiveness of these systems, and the volume of patients that visit hospitals in search of appropriate care.

• According to Cognitive Market Research, the GCC Countries medical robotics market size was valued at USD 53.77 million in 2024 and is projected to grow at a CAGR of 16.7% during the forecast period because neurological conditions affect a larger proportion of the population and chronic disorders are more common.

• The Egypt medical robotics market is projected to witness growth at a CAGR of 16.2% during the forecast period with a market size of USD 13.19 million in 2024.

• The South Africa medical robotics market is projected to witness growth at a CAGR of 16.9% during the forecast period with a market size of USD 19.85 million in 2024 due to a rise in the number of patients having minimally invasive procedures and rising per-capita healthcare expenses.

• The Turkey medical robotics market is projected to witness growth at a CAGR of 15.4% during the forecast period with a market size of USD 10.80 million in 2024.
• The Nigeria medical robotics market is projected to witness growth at a CAGR of 15.0% during the forecast period with a market size of USD 13.19 million in 2024.
• The Rest of MEA medical robotics market is projected to witness growth at a CAGR of 14.9% during the forecast period with a market size of USD 14.82 million in 2024.

 

Medical Robotics Market Analysis

Medical Robotics Market Type Segment Analysis

According to Cognitive Market Research, assistive robots category held the major market share over the forecast period. The need for assistive technologies to serve people with disabilities or age-related impairments has surged due to the global aging population. These robots can help with daily activities, mobility support, and rehabilitation exercises, improving patient quality of life and lessening the strain on caregivers.

Miniature in vivo robots is the fastest-growing category over the forecast period because of the development of technology and the growing need for less invasive procedures. Better diagnostic and therapeutic results can be achieved by using these tiny robots, which provide precise control and access to previously hard-to-reach body parts. 

• External Large Robots
• Geriatric Robot
• Assistive Robots
• Miniature in Vivo Robots

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Medical Robotics Market Application Segment Analysis

According to Cognitive Market Research, laparoscopic applications category held the major market share over the forecast period. Because robotics can help with highly specialized surgical treatments like laparoscopy, there has been an increase in interest in and funding for robotic operations in recent years. Additionally, companies are attempting to expand their market share by offering their items in the thriving market, which is driving market expansion, in order to boost revenues.

Neurology applications is the fastest-growing category over the forecast period because complex neurological treatments demand a high level of effectiveness and precision. These robots significantly expand the capabilities of medical practitioners, leading to better patient outcomes and more advanced medical procedures. The neurology segment's supremacy is also largely due to the healthcare industry's increased need for precision and state-of-the-art technologies.

• Neurology Applications
• Cardiology Applications
• Orthopedic Applications
• Laparoscopic Applications
• Physical Rehabilitation
• Pharmacy Applications

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Medical Robotics Product Segment Analysis

According to Cognitive Market Research, surgical robots category held a prominent market share. Healthcare professionals find surgical robots very appealing since they are essential in the field of precision surgeries and least invasive procedures. Better accuracy, fewer incisions, and quicker patient recoveries are all benefits of these robots. The increased precision that they provide helps surgeons by lowering the possibility of human error during intricate procedures. 

Rehabilitation robots are the fastest-growing category over the forecast period. Through increased strength, mobility, coordination, and quality of life, rehabilitation robots help persons with disabilities rehabilitate. These robots are part of the growing market revenue because they may be configured to adjust to the unique conditions of each patient recovering from strokes, severe brain or spinal cord injuries, or neurobehavioral or neuromuscular disorders like multiple sclerosis.

• Surgical Robots
• Rehabilitation Robots
• Hospital and Pharmacy Robots
• Bio Robotics
• Non-invasive Radio Surgery Robots
• Telepresence Robots
• Medical Transportation Robots
• Sanitation and Disinfectant Robots

Medical Robotics Modality Segment Analysis

According to Cognitive Market Research, compact category held the major market share over the forecast period because of factors like the growing need for minimally invasive procedures, the development of robotics technology, and the requirement for accurate and effective medical interventions. Better patient outcomes and faster recovery times can result from these small robots' increased flexibility and manoeuvrability in exploring the body's small places.

Portable is the fastest-growing category over the forecast period. Improved accessibility, simpler integration into current workflows, and better patient outcomes are just a few advantages that come with portable medical robots. They are therefore becoming more and more common in a variety of medical professions, such as telemedicine, surgery, diagnostics, and rehab. It is anticipated that the healthcare sector would keep putting an emphasis on patient-centered treatment, accessibility, and efficiency.

• Compact
• Portable

Medical Robotics Components Segment Analysis

According to Cognitive Market Research, patient cart category held the major market share over the forecast period. Surgeons can execute intricate procedures more accurately and quickly with the help of patient carts fitted with robotic arms and surgical tools, which improves clinical results and shortens recovery periods. Furthermore, the global acceptance of robotic-assisted surgery is rising, particularly in developed nations, which is driving the growth of this market sector for medical robots.

Sensors are the fastest-growing category over the forecast period. Robots' ability to sense their surroundings, travel safely, and precisely interact with patients and surgical equipment is largely dependent on their sensors. It is anticipated that as medical robotics develop further, the sensor category will grow as well, serving a larger range of applications and improving medical robots' capacities in diagnosis, surgery, rehabilitation, and other healthcare duties.

• Actuators
• Sensors
• Robot Controller
• Patient Cart
• Surgeon Console
• Vision Cart
• Dispensing System and Additional Products

Medical Robotics End User Segment Analysis

According to Cognitive Market Research, hospitals category held a prominent market share. A growing number of procedures are being performed in hospital operating rooms using medical and healthcare assistive robots. Due to the increased demand for robot assistants to handle the growing nurse and labor shortages, as well as the improved therapeutic outcomes with less invasive treatments, medical robots are becoming more and more popular in hospital settings.

Research institutes are the fastest-growing category over the forecast period. By fostering innovation, offering knowledge, and working with business partners to address healthcare issues, research institutes help the market grow. Their participation increases the potential for market expansion, enhances patient outcomes, and promotes the development of cutting-edge robotic technologies.

• Hospitals
• Specialty Clinics
• Research Institutes
• Ambulatory Surgical Centers
• Laboratories
• Rehabilitation Centers
• Others

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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