Global Medical Robotics
Market Report
2024
Medical robotics market size is USD 6281.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 16.20% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global medical robotics market size is USD 6281.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 16.20% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Medical Robotics Market Sales Revenue 2024 | $ 6281.2 Million |
Global Medical Robotics Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.2% |
North America Medical Robotics Market Sales Revenue 2024 | $ 2512.48 Million |
North America Medical Robotics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 14.4% |
Europe Medical Robotics Market Sales Revenue 2024 | $ 1884.36 Million |
Europe Medical Robotics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 14.7% |
Asia Pacific Medical Robotics Market Sales Revenue 2024 | $ 1444.68 Million |
Asia Pacific Medical Robotics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.2% |
South America Medical Robotics Market Sales Revenue 2024 | $ 314.06 Million |
South America Medical Robotics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.6% |
Middle East and Africa Medical Robotics Market Sales Revenue 2024 | $ 125.62 |
Middle East and Africa Medical Robotics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.9% |
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List of Competitors |
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Key Qualitative Information Covered |
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Medical Robotics Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
During a surgical procedure, medical robots provide enhanced accuracy and precision. Medical robots, or robot-assisted surgery devices, have allowed doctors to perform intricate surgical procedures with increased control, precision, and flexibility. Medical robots are typically employed in minimally invasive operations that need small incisions. The medical robots market is growing due to the increasing use of cutting-edge treatments for cancer, neurological and cardiac illnesses, and other severe diseases. Medical robots can be used to perform crucial surgeries that are necessary for various ailments, which is driving the market's growth. But the market's expansion is hampered by safety issues, a shortage of skilled workers, and the high expense of robotic surgeries. On the other hand, the market is anticipated to develop even more due to the adoption of cutting-edge technology and increased financing for medical robotics.
June 2022: Robotic-assisted surgery pioneer and global technology leader Intuitive announced that the FDA in the United States has approved the combination of Ion Endoluminal System and mobile cone-beam CT imaging technology for use in robotically assisted bronchoscopy.
The market for medical robotics is expanding at a substantial rate due to the growing inclination towards minimally invasive surgery (MIS). Surgery that uses a range of methods, such as the use of medical robots to operate with less bodily damage than open surgery, is referred to as minimally invasive surgery. The number of minimally invasive surgeries is growing as a result of patients' growing preference for these procedures because of their reduced risk of postoperative discomfort and complications, shorter hospital stays, quicker recovery periods, and other advantages.
For instance, a study led by Johns Hopkins researchers and published in JAMA Surgery suggests that by substituting more minimally invasive procedures for open surgery when performing routine operations on the appendix, colon, and lungs, American hospitals could avoid thousands of post-surgical complications and save between $280 million and $340 million annually. In September 2023, 26.2 million minimally invasive and surgical procedures were performed in the United States, as reported by the American Society of Plastic Surgeons, a professional association for plastic surgeons based in the United States.
Globally, the number of procedures that are performed is increasing. The past twenty-five years have seen a rise in the prevalence of cardiovascular disorders. Cardiovascular and general procedures are becoming more common in the area due to the increase in cases of diabetes and changes in lifestyle. Two of the main causes of death worldwide are diabetes and cancer. A study conducted in 2021 by the American Cancer Society (ACS) found that approximately 1.9 million new instances of cancer were identified in the US. Additionally, some 252,000 weight loss procedures were carried out in the US in 2019, per a data released by the American Society for Metabolic and Bariatric Surgery. Robotic surgery instruments are becoming more and more necessary as surgical operations increase in number. Consequently, there is a growing need for medical robots because to the startlingly high frequency of chronic illnesses and the growing number of surgical procedures.
It is anticipated that high research and development costs, a lack of infrastructure, and the cost of robotically assisted treatments will limit market expansion. Furthermore, it is projected that the industry will face challenges as a result of limited adoption of technology, favorable reimbursement circumstances in developing nations, and high capital and maintenance costs associated with infrastructure in low- and middle-income nations. The cost of robotic surgery is higher than that of open surgery. For instance, the da Vinci system, the most widely used robotic system, costs between USD 1.0 million and USD 3.0 million per unit. On the other hand, each CyberKnife radiosurgery robotic system unit costs between USD 4.2 and USD 5.2 million. An additional $100,000 will be used for upkeep.
The COVID-19 pandemic has had a negative impact on public health, leading to a rise in hospital admissions and a substantial reallocation of medical personnel. However, the introduction of robots into healthcare has had a major impact on slowing the spread of SARS-CoV-2 because, among other advantages, they help with cleaning and disinfection and stop the virus from spreading between patients and medical personnel. Since medical robots can partially replace certain medical functions, their entrance into the healthcare industry has reduced the need for medical professionals while also helping to safeguard frontline healthcare workers from infection.
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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.
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.
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.
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.
(Source: https://www.capsahealthcare.com/news/capsa-acquires-humanscale-healthcare/)
Top Companies Market Share in Medical Robotics Industry: (In no particular order of Rank)
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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.
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
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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, 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.
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 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 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.
Global Medical Robotics Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Medical Robotics Industry growth. Medical Robotics market has been segmented with the help of its Type, Application Product, and others. Medical Robotics market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
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.
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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.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Medical Robotics market report 2024 Edition by contacting our team.
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.
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.
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.
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.
Research Associate at Cognitive Market Research
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.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Disclaimer:
Type | External Large Robots, Geriatric Robot, Assistive Robots, Miniature in Vivo Robots |
Application | Neurology Applications, Cardiology Applications, Orthopedic Applications, Laparoscopic Applications, Physical Rehabilitation, Pharmacy Applications |
Product | Surgical Robots, Rehabilitation Robots, Hospital and Pharmacy Robots, Bio Robotics, Non-invasive Radio Surgery Robots, Telepresence Robots, Medical Transportation Robots, Sanitation and Disinfectant Robots |
Modality | Compact, Portable |
Components | Actuators, Sensors, Robot Controller, Patient Cart, Surgeon Console, Vision Cart, Dispensing System and Additional Products |
End User | Hospitals, Specialty Clinics, Research Institutes, Ambulatory Surgical Centers, Laboratories, Rehabilitation Centers, Others |
Distribution Channel | Direct Tender, Retail Sales, Third-Party Distributors, Others |
List of Competitors | 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) |
This chapter will help you gain GLOBAL Market Analysis of Medical Robotics. Further deep in this chapter, you will be able to review Global Medical Robotics Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Medical Robotics Market Trends North America Medical Robotics Technological Road Map North America Medical Robotics Market Drivers North America Medical Robotics Market Restraints North America Medical Robotics Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Product Analysis 2019 -2031
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Chapter 13 Market Split by Modality Analysis 2019 -2031
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Chapter 14 Market Split by Components Analysis 2019 -2031
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Chapter 15 Market Split by End User Analysis 2019 -2031
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Chapter 16 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Medical Robotics market
Chapter 17 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why External Large Robots have a significant impact on Medical Robotics market? |
What are the key factors affecting the External Large Robots and Geriatric Robot of Medical Robotics Market? |
What is the CAGR/Growth Rate of Neurology Applications during the forecast period? |
By type, which segment accounted for largest share of the global Medical Robotics Market? |
Which region is expected to dominate the global Medical Robotics Market within the forecast period? |
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