Global Medical Robots Market Analysis and Forecast to 2031: By Product (Instruments & Accessories, Robotic Systems), Application (Laparoscopy, Orthopedic Surgeries, Neurosurgeries, Pharmacy Applications), and Region
The global medical robots market was valued at USD 10.6 billion in 2021 and it is anticipated to grow further till USD 34.3 billion by 2031, at a CAGR of 12.4% during the forecast period.
Medical robots are professional service robots that are utilized both within and outside of hospitals to raise the standard of care provided to patients. They lessen the workload of medical professionals, allowing them to devote more time to actively caring for patients, and they establish extensive operational procedures that result in effectiveness and lower investments in healthcare amenities.
Global Medical Robots Market Scope and Report Structure
Market Trends and Drivers
The main factor propelling market growth is the expansion of robot-assisted training's applications in rehabilitation therapy. Robotic rehabilitation therapy provides high-dose and intense training, making it beneficial for patients with motor problems brought on by spinal cord illness or stroke. End-effector and exoskeleton are the main components of robotic devices used for motor rehabilitation. The use of robot-assisted therapy is for patients recovering from strokes to have better gait function.
Market Restraints and Challenges
The restraints incurred are the safety apprehensions of Medical Robots. Many factors can cause safety problems for Medical Robots, the human error where wrong instructions are fed into the robotic system. The system error also occurs, such as the hardware being triggered by software. The challenge to overcome in introducing Medical Robots in the hospital is the upfront cost to be taken.
Global Medical Robots Market Segmental Overview
The global medical robots market is segmented into product, applications, and region.
Global Medical Robots Market by Product
Based on the product, it is segmented into instruments & accessories, and robotic systems. It is anticipated that over the forecast period, the Robotic Segment will hold the greatest market share. The expansion of this market may be attributed to the increasing use of technical advancements like speech recognition, adaptive programming, better sensors, and cloud technology in robotic systems to boost their functionality and efficiency.
Global Medical Robots Market by Applications
Based on the application, it is segmented into laparoscopy, orthopedic surgeries, neurosurgeries, and pharmacy applications. Neurosurgery segment is anticipated to dominate the market during the forecast period. The development is a result of medical robots' increased precision and quality, which supports their use in neurosurgery.
Geographical Analysis of the Global Medical Robots Market
Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The rise in the adoption of surgical robots in developing economies, favorable reimbursement scenario for scientific research on medical robots, and the accessibility of advanced medical robots.
Major Players in the Global Medical Robots Market
The major players studied in the report are Intuitive Surgical, Stryker Corporation, Hocoma, Mazor Robotics, Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics), Accuray, Omnicell, ARxIUM, Ekso Bionics, and Kirby Lester among others.
COVID-19 Impact
Since the COVID -19 pandemic began, demand for medical robots has increased significantly. The UVD-Robots from Blue Ocean Robotics, a Danish company, can freely roam around patient rooms and operating rooms while covering important surfaces with the ultraviolet light that kills bacteria and viruses. More dangerous bacteria are eradicated from a surface the lighter the robot exposes it to. In a typical patient room, 99.99% of all bacteria and germs are eliminated in less than 10 minutes.
Recent Developments
In 2020, Stryker Corporation received regulatory approval for MAKO robotic surgery system in Japan for make partial knee indication.
In 2020, Accuray launched the CyberKnife S7 system a next-generaion CyberKnife platform with advanced precision, and real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery and stereotactic body radiation therapy treatments.
In 2020, Medtronic acquired Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modelling and patient specific implants.
In 2019, Intuitive Surgical received clearance from the US FDA for the da Vinci Single-port Surgical System.
Frequently Asked Questions
Q1. How big is the Medical Robots market?
Ans. The global Medical Robots market size was USD 10.6 Billion in 2021 and it is anticipated to grow further till USD 34.3 Billion by 2031, at a CAGR of 12.4% from 2022 to 2031.
Q2. What is the Medical Robots market growth rate?
Ans. The growth rate of the Medical Robots market is 12.4%.
Q3. Which region holds a major market share for the Medical Robots market?
Ans. North America holds a major market share of the Medical Robots market in 2021.
Q4. Which segment accounted for the largest Medical Robots market share?
Ans. By application, the laparoscopy segment accounted for the largest Medical Robots market share.
Q5. Who are the key players in the Medical Robots market?
Ans. The global Medical Robots market report includes players such as Intuitive Surgical, Stryker Corporation, Hocoma, Mazor Robotics, Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics), Accuray, Omnicell, ARxIUM, Ekso Bionics, and Kirby Lester among others.
Q6. What are the factors driving the Medical Robots market growth?
Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.
Q7. What are the key growth strategies of Medical Robots market players?
Ans. The key growth strategies of Medical Robots market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the Medical Robots market during the forecast period?
Ans. The Asia-Pacific region will provide more business opportunities for the Medical Robots market during the forecast period.
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- Chapter 1. Medical Robots Market Overview
- 1.1. Objectives of the Study
- 1.2. Market Definition and Research & Scope
- 1.3. Research Limitations
- 1.4. Research Methodologies
- 1.4.1. Secondary Research
- 1.4.2. Market Size Estimation Technique
- 1.4.3. Forecasting
- 1.4.4. Primary Research and Data Validation
- Chapter 2. Executive Summary
- 2.1. Summary
- 2.2. Key Highlights of the Market
- Chapter 3. Premium Insights on the Market
- 3.1. Market Attractiveness Analysis, by Region
- 3.2. Market Attractiveness Analysis, by Product
- 3.3. Market Attractiveness Analysis, by Application
- Chapter 4. Medical Robots Market Outlook
- 4.1. Medical Robots Market Segmentation
- 4.2. Market Dynamics
- 4.2.1. Market Drivers
- 4.2.1.1. Driver 1
- 4.2.1.2. Driver 2
- 4.2.1.3. Driver 3
- 4.2.2. Market Restraints
- 4.2.2.1. Restraint 1
- 4.2.2.2. Restraint 2
- 4.2.3. Market Opportunities
- 4.2.3.1. Opportunity 1
- 4.2.3.2. Opportunity 2
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Threat of New Entrants
- 4.3.2. Threat of Substitutes
- 4.3.3. Bargaining Power of Buyers
- 4.3.4. Bargaining Power of Supplier
- 4.3.5. Competitive Rivalry
- 4.4. PESTLE Analysis
- 4.5. Value Chain Analysis
- 4.5.1. Raw Product Suppliers
- 4.5.2. Manufacturers
- 4.5.3. Wholesalers and/or Retailers
- 4.6. Impact of COVID-19 on the Medical Robots Market
- 4.7. Impact of the Russia and Ukraine War on the Medical Robots Market
- Chapter 5. Medical Robots Market, by Product
- 5.1. Market Overview
- 5.2. Instruments & Accessories
- 5.2.1. Key Market Trends & Opportunity Analysis
- 5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- 5.3. Robotic System
- 5.3.1. Key Market Trends & Opportunity Analysis
- 5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- Chapter 6. Medical Robots Market, by Application
- 6.1. Market Overview
- 6.2. Laparoscopy
- 6.2.1. Key Market Trends & Opportunity Analysis
- 6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- 6.3. Orthopedic Surgeries
- 6.3.1. Key Market Trends & Opportunity Analysis
- 6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- 6.4. Neurosurgeries
- 6.4.1. Key Market Trends & Opportunity Analysis
- 6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- 6.5. Pharmacy Applications
- 6.5.1. Key Market Trends & Opportunity Analysis
- 6.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
- Chapter 7. Medical Robots Market, by Region
- 7.1. Overview
- 7.2. North America
- 7.2.1. Key Market Trends & Opportunity Analysis
- 7.2.2. North America Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.2.3. North America Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.2.4. North America Medical Robots Market Size and Forecast by Country, 2021-2031, ($Million)
- 7.2.5. The U.S.
- 7.2.5.1. The U.S. Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.2.5.2. The U.S. Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.2.6. Canada
- 7.2.6.1. Canada Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.2.6.2. Canada Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.2.7. Mexico
- 7.2.7.1. Mexico Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.2.7.2. Mexico Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3. Europe
- 7.3.1. Key Market Trends & Opportunity Analysis
- 7.3.2. Europe Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.3. Europe Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.4. Europe Medical Robots Market Size and Forecast by Country, 2021-2031, ($Million)
- 7.3.5. Germany
- 7.3.5.1. Germany Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.5.2. Germany Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.6. France
- 7.3.6.1. France Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.6.2. France Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.7. U.K.
- 7.3.7.1. U.K. Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.7.2. U.K. Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.8. Spain
- 7.3.8.1. Spain Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.8.2. Spain Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.9. Italy
- 7.3.9.1. Italy Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.9.2. Italy Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.3.10. Rest of Europe
- 7.3.10.1. Rest of Europe Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.3.10.2. Rest of Europe Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4. Asia-Pacific
- 7.4.1. Key Market Trends & Opportunity Analysis
- 7.4.2. Asia-Pacific Medical Robots Market Size and Forecast by Country, 2021-2031, ($Million)
- 7.4.3. Asia-Pacific Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4.4. Asia-Pacific Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.5. China
- 7.4.5.1. China Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.5.2. China Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4.6. India
- 7.4.6.1. India Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.6.2. India Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4.7. Japan
- 7.4.7.1. Japan Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.7.2. Japan Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4.8. South Korea
- 7.4.8.1. South Korea Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.8.2. South Korea Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.4.9. Rest of APAC
- 7.4.9.1. Rest of APAC Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.4.9.2. Rest of APAC Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.5. Rest of the World
- 7.5.1. Key Market Trends & Opportunity Analysis
- 7.5.2. Rest of the World Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.5.3. Rest of the World Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.5.4. Rest of the World Medical Robots Market Size and Forecast by Country, 2021-2031, ($Million)
- 7.5.5. Latin America
- 7.5.5.1. Latin America Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.5.5.2. Latin America Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.5.6. Middle East
- 7.5.6.1. Middle East Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.5.6.2. Middle East Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- 7.5.7. Africa
- 7.5.7.1. Africa Medical Robots Market Size and Forecast by Product, 2021-2031, ($Million)
- 7.5.7.2. Africa Medical Robots Market Size and Forecast by Application, 2021-2031, ($Million)
- Chapter 8. Competitive Landscape
- 8.1. Market Overview
- 8.2. Market Share Analysis/Key Player Positioning
- 8.3. Vendor Benchmarking
- 8.4. Developmental Strategy Benchmarking
- 8.4.1. New Product Development
- 8.4.2. Product Launches
- 8.4.3. Business Expansions
- 8.4.4. Partnerships, Joint Ventures, and Collaborations
- 8.4.5. Mergers and Acquisitions
- Chapter 9. Company Profiles
- 9.1. Intuitive Surgical
- 9.1.1. Company Snapshot
- 9.1.2. Financial Performance
- 9.1.3. Product Offerings
- 9.1.4. Key Strategic Initiatives
- 9.1.5. SWOT Analysis
- 9.2. Stryker Corporation
- 9.2.1. Company Snapshot
- 9.2.2. Financial Performance
- 9.2.3. Product offerings
- 9.2.4. Key Strategic Initiatives
- 9.2.5. SWOT Analysis
- 9.3. Hocoma
- 9.3.1. Company Snapshot
- 9.3.2. Financial Performance
- 9.3.3. Product offerings
- 9.3.4. Key Strategic Initiatives
- 9.3.5. SWOT Analysis
- 9.4. Mazor Robotics
- 9.4.1. Company Snapshot
- 9.4.2. Financial Performance
- 9.4.3. Product offerings
- 9.4.4. Key Strategic Initiatives
- 9.4.5. SWOT Analysis
- 9.5. Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics)
- 9.5.1. Company Snapshot
- 9.5.2. Financial Performance
- 9.5.3. Product offerings
- 9.5.4. Key Strategic Initiatives
- 9.5.5. SWOT Analysis
- 9.6. Accuray
- 9.6.1. Company Snapshot
- 9.6.2. Financial Performance
- 9.6.3. Product offerings
- 9.6.4. Key Strategic Initiatives
- 9.6.5. SWOT Analysis
- 9.7. Omnicell
- 9.7.1. Company Snapshot
- 9.7.2. Financial Performance
- 9.7.3. Product offerings
- 9.7.4. Key Strategic Initiatives
- 9.7.5. SWOT Analysis
- 9.8. ARxIUM
- 9.8.1. Company Snapshot
- 9.8.2. Financial Performance
- 9.8.3. Product offerings
- 9.8.4. Key Strategic Initiatives
- 9.8.5. SWOT Analysis
- 9.9. Ekso Bionics
- 9.9.1. Company Snapshot
- 9.9.2. Financial Performance
- 9.9.3. Product offerings
- 9.9.4. Key Strategic Initiatives
- 9.9.5. SWOT Analysis
- 9.10. Kirby Lester
- 9.10.1. Company Snapshot
- 9.10.2. Financial Performance
- 9.10.3. Product offerings
- 9.10.4. Key Strategic Initiatives
- 9.10.5. SWOT Analysis
- *The list of company is subject to change during the final compilation of the report
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