Medical Robots Market by Product (Hardware, Services), Type (Hospital & Pharmacy Robotic Systems, Noninvasive Radiosurgery Robotic Systems, Rehabilitation Robotic Systems), Application, End-User - Global Forecast 2024-2030

Medical Robots Market by Product (Hardware, Services), Type (Hospital & Pharmacy Robotic Systems, Noninvasive Radiosurgery Robotic Systems, Rehabilitation Robotic Systems), Application, End-User - Global Forecast 2024-2030

The Medical Robots Market size was estimated at USD 19.76 billion in 2023 and expected to reach USD 21.89 billion in 2024, at a CAGR 11.34% to reach USD 41.94 billion by 2030.

Medical robots are highly sophisticated automated systems designed to perform, assist, or enhance clinical and surgical procedures, improve patient care, and ensure precision in executing tasks within healthcare settings. These advanced technological instruments can be programmed to aid in various medical applications, including surgery, rehabilitation, medication administration, and sanitation. Characteristically, medical robots are developed to complement the skills of healthcare professionals, thereby increasing the efficiency, accuracy, and safety of medical procedures. Increasing adoption of automation technology in healthcare applications and the advantages of robot-assisted surgery & training in rehabilitation therapy are propelling the growth of the medical robots market. The high cost associated with the deployment of robotic systems hinders their adoption. The increasing collaborative and funding activities for R&D on surgical robots, and a rising penetration of surgical robots in ASCs offer lucrative growth opportunities for the expanding medical robots market.

Regional Insights

In the Americas, particularly in the United States and Canada, there is a robust adoption of medical robots driven by a well-established healthcare infrastructure, increased healthcare expenditure, and a focus on research and development activities. The surgical robots segment dominates the market within the region, attributed to their extensive application in minimally invasive surgeries (MIS). The American region is witnessing a rising demand for rehabilitation and telepresence robots to enhance physical therapy outcomes and improve patient care delivery in remote areas. The Asia-Pacific region is showcasing significant growth in the medical robots market, fueled by increasing healthcare expenditures, rising awareness about the benefits of robotic surgeries, and substantial investments in healthcare infrastructure. Countries including Japan, China, and Australia are at the forefront of adopting these technological innovations. Japan, in particular, exhibits a strong foothold in developing and using rehabilitation robots, reflecting its demographic trends and a growing elderly population requiring long-term care. China, with its substantial investments in healthcare and technology, is becoming a pivotal player in both the consumption and production of medical robots. The EMEA region presents a diverse landscape in adopting and implementing medical robots, influenced by varying healthcare policies, economic capabilities, and technological readiness. Europe leads within the region, with countries like Germany, the UK, and France demonstrating substantial growth in the utilization of surgical robots, driven by a strong healthcare infrastructure and active government support in fostering innovation. The Middle East, with countries like the UAE and Saudi Arabia, is catching up rapidly, leveraging its wealth to modernize healthcare facilities and incorporate advanced technologies such as robotic systems. The African medical robots market is growing gradually and shows growth potential, particularly in telepresence robots.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Medical Robots Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing adoption of automation technology in healthcare applications
Advantages of robot-assisted surgery & training in rehabilitation therapy
Growing patient importance over minimally invasive surgeries and precision surgeries

Market Restraints

High cost associated with the deployment of robotic systems

Market Opportunities

Growing collaborative and funding activities for R&D on surgical robots
Increasing penetration of surgical robots in ASCs

Market Challenges

Lack of awareness among professionals and challenges associated with robot malfunctioning

Market Segmentation Analysis

Type: Widening use of surgical robotic systems owing to the broadening range of procedures they support
Application: Increasing adoption of medical robots in external beam radiation therapy for treating cancers located in or near vital organs.

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Medical Robots Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Medical Robots Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

The spaceMIRA Mission to the International Space Station, Pioneering the Future of Remote Surgery

In a groundbreaking venture poised to revolutionize the medical field, Virtual Incision Corporation's spaceMIRA, a pioneering miniaturized robotic-assisted surgery (miniRAS) device, is en route to the International Space Station (ISS), marking a significant stride in remote surgical capabilities. This miniRAS device, markedly lighter than existing technologies, signifies a monumental leap in making surgical interventions accessible across remote and underserved regions globally, by simplifying transport, storage, and operational setups drastically.

EndoQuest Robotics Partners with Omnivision for Revolutionary Imaging in Robotic Surgery

In a strategic collaboration poised to redefine the landscape of surgical robotics, EndoQuest Robotics has teamed up with Omnivision to integrate advanced image sensor technology into its innovative flexible robotic system. Leveraging Omnivision's high-performance OCHFA CameraCubeChip image sensor, known for its PureCel Plus-S pixel technology, the partnership aims to enhance visual accuracy within the gastrointestinal tract, offering surgeons fine image quality, high full-well capacity, and efficient power consumption.

Introduction of the Versius Surgical Robotic System in Belgium for Minimally Invasive Surgery

The Sint-Franciscus Hospital in Heusden-Zolder, Belgium, has become the pioneering institution in Belgium to incorporate the next-generation Versius surgical robotic system into its medical offerings, marking a significant advancement in the country's healthcare capabilities. This strategic move is part of a multi-specialty program aimed at broadening the accessibility of minimally invasive surgical procedures. The Versius system, recognized for its unique small and modular design, enables seamless integration into diverse operating room environments, facilitating a wide array of surgical procedures across urology, gynecology, and abdominal surgery.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Medical Robots Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Medical Robots Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Accuray Incorporated, Aldebaran SAS, ARxIUM, CMR Surgical Limited, DENSO Corporation, Diligent Robotics, Inc., Dr. Fritz Faulhaber GmbH & Co. KG, Freehand Ltd., Harmonic Drive SE, Hocoma AG, Intel Corporation, Intuitive Surgical, Inc., Kawasaki Heavy Industries, Ltd., Kinova Inc., Koninklijke Philips N.V., KUKA Aktiengesellschaft, Medtronic PLC, Merck KGaA, Meril Life Sciences Pvt. Ltd., Momentis Innovative Surgery Ltd., Noah Medical, Shenzhen Han's Robot Co., Ltd., Smith & Nephew PLC, ST Engineering Aethon, Inc., Stryker Corporation, Stäubli International AG, Triton Medical Robotics, Vicarious Surgical, and XACT Robotics.

Market Segmentation & Coverage

This research report categorizes the Medical Robots Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Hardware
Instrument & Accessories
Robotic Systems
Services
Type
Hospital & Pharmacy Robotic Systems
Noninvasive Radiosurgery Robotic Systems
Rehabilitation Robotic Systems
Surgical Robotic Systems
Application
External Beam Radiation Therapy
Laparoscopy
Neurosurgery
Orthopedic Surgery
Pharmacy Applications
Physical Rehabilitation
End-User
Ambulatory Surgery Centers
Hospitals
Rehabilitation Centers
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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