The Medical Robots Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Robots Global Market Report 2024, The medical robots market size has grown exponentially in recent years. It will grow from $13.51 billion in 2023 to $16.24 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to minimally invasive surgery, aging population, telemedicine and remote surgery, chronic diseases, food and beverage.
The medical robots market size is expected to see exponential growth in the next few years. It will grow to $34.15 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to customization and personalization, ai and machine learning integration, patient care and companion robots, pharmacy automation, nanorobotics. Major trends in the forecast period include technology advancements,cryotherapy and aesthetic procedures, biobanking and biopreservation, cryogenic storage solutions, rocket propulsion
The rising demand for precise and proper laparoscopic operations is expected to propel the growth of the medical robots market going forward. The laparoscopic operation allows a surgeon to perform complex procedures within the abdomen without having to place his hands directly into the body cavity. medical robots market are more efficient at performing laparoscopic procedures. As a result, there is rising demand for precise and proper laparoscopic operations that boost market growth. For instance, in March 2022, the Cleveland Clinic, a US-based nonprofit academic medical centre, stated that over 13 million laparoscopic procedures have been performed globally every year and are projected to grow by 1% over the next five years. Therefore, the rising demand for precise and proper laparoscopic operations is driving the growth of the medical robots market.
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The medical robots market covered in this report is segmented –
1) By Type: Hospital and Pharmacy Robotic Systems, Surgical Robotic Systems, Noninvasive Radiosurgery Robotic Systems, Rehabilitation Robotic Systems, Other Types
2) By Solutions: On-Premises, Cloud
3) By Application: Cardiology, Laparoscopy, Pharmacy, Neurosurgery, Orthopedic Surgery, Other Applications
4) By End Users: Specialty Centers, Hospitals and Clinics, Rehabilitation Centers, Other End Users
Technological advancements are a key trend gaining popularity in the medical robots market. Major companies operating in the medical robots market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Diligent Corporation, a US-based healthcare robotics company, created Moxi, an AI-enabled robot that can handle time-consuming logistical tasks in hospitals such as setting up patient rooms and replenishing supplies. Moxi is able to deliver teleboxes, manage the “”do not tube”” medications, and pick up patients’ personal items. Moxi’s core technical features comprise social intelligence, mobile manipulation, and human-guided learning. This launch represents another step forward for Diligent’s product portfolio.
The medical robots market report table of contents includes:
1. Executive Summary
2. Medical Robots Market Characteristics
3. Medical Robots Market Trends And Strategies
4. Medical Robots Market – Macro Economic Scenario
5. Global Medical Robots Market Size and Growth
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26. South America Medical Robots Market
27. Brazil Medical Robots Market
28. Middle East Medical Robots Market
29. Africa Medical Robots Market
30. Medical Robots Market Competitive Landscape And Company Profiles
Top Major Players:
- Smith and Nephew PLC
- Striker
- Aethon
- Intuitive Surgical Inc.
- Major Robotics
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