Hospital Robots Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope

A hospital robot, or a medical robot, is used in the medical field to assist healthcare professionals and improve patient care within a hospital or healthcare setting. They help in surgical procedures, perform mobile tasks, automate pharmacy processes, provide telepresence and remote caregiving, aid in disinfection, improve blood drawing procedures, support rehabilitation and assist with administrative tasks.

Sizing and Forecast

The hospital robots market size has grown rapidly in recent years. It will grow from $1.75 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to shortage of healthcare professionals, increasing elderly population, rising demand for minimally invasive surgery, demand for patient safety,.

The hospital robots market size is expected to see rapid growth in the next few years. It will grow to $3.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to telemedicine growth, government initiatives, growing demand for rehabilitation robots, increasing demand for surgical robots, growing demand for image-guided surgery, growing awareness of the benefits of hospital robots. Major trends in the forecast period include advancements in artificial intelligence (AI) and machine learning (ML), adoption of 5G technology, ai-driven personalized healthcare, robotics process automation (RPA), iot integration, robotic sterilization and cleaning, patient data security.

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Segmentation & Regional Insights

The hospital robots market covered in this report is segmented –

1) By Product Type: Autonomous Mobile Robots; Disinfecting or Sterilization Robots; Laboratory Robots; Pharmacy Robots

2) By Deployment: Laparoscopy; Pharmacy Applications; Orthopedic Surgery; External Beam Radiation Therapy; Physical Rehabilitation; Neurosurgery; Other Deployments

3) By End User: Hospitals; Ambulatory Surgery Centers; Rehabilitation Centers; Other End Users

North America was the largest region in the hospital robots market in 2023. The regions covered in hospital robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

Increasing healthcare automation is expected to propel the growth of the hospital robot market going forward. Healthcare automation refers to using technology and software to streamline and optimize various processes in the healthcare industry. Hospital robots are used in healthcare automation to assist surgeons in minimally invasive procedures in operating rooms. For instance, in May 2021, according to a survey conducted among 112 provider chief financial officers and financial and revenue cycle executives by The Healthcare Financial Management Association, a US-based healthcare association, stated that the deployment of automation technologies in hospitals increased three times from 2020 to 2021, where 50% of hospitals had deployed automation technologies in 2021 compared to 15% of hospitals in 2020. Therefore, increasing healthcare automation is driving the growth of the hospital robot market.

Key Industry Players

Major players in the hospital robots market are McKesson Corporation, Johnson and Johnson, Siemens Healthineers, Yujin Robot, Medtronic PLC, ABB Group, Aethon, Becton Dickinson and Company, Stryker Healthcare, Zimmer Biomet Robotics, Intuitive Surgical Inc., KUKA, Omnicell Inc., iRobot Corporation, Globus Medical, Renishaw PLC, Auris Health Inc., Blue Ocean Robotics, PAL Robotics, SoftBank Robotics, Stereotaxis Inc., Verb Surgical Inc., Cyberdyne Inc., Mazor Robotics, Medrobotics Corporation.

The hospital robots market report table of contents includes: