Medical Robotics Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

Medical Robotics Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global medical robotics market provides qualitative and quantitative analysis for the period from 2021-2030. The global medical robotics market was valued at USD 8.14 billion in 2022 and is expected to reach USD 28.77 billion in 2030, with a CAGR of 14.94% during the forecast period 2023-2030. The study on medical robotics market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The medical robotics market is a rapidly expanding sector in the healthcare industry, encompassing the development, manufacturing, and application of robotic technologies for medical purposes. These cutting-edge robots play a crucial role in assisting surgeons, improving diagnostic capabilities, and enhancing patient care. They are known for their precision, automation, and their ability to provide minimally invasive solutions, ultimately reducing the risks associated with surgery and speeding up patient recovery times. This market includes several categories of medical robots, such as surgical robots, robotic exoskeletons, telemedicine robots, and various other automation devices designed for medical use. Surgical robots, for instance, are advanced robotic systems utilized during surgical procedures to augment the precision and capabilities of surgeons. They are particularly valuable in minimally invasive surgeries like laparoscopy procedures, as well as in complex surgeries such as those involving the heart and orthopedic interventions. Rehabilitation robots are used in physical therapy and post-surgery recovery, aiding patients in regaining mobility and strength after injuries or surgical interventions. Additionally, telemedicine robots facilitate remote medical consultations and examinations, enabling doctors to interact with patients in different locations through video conferencing and other communication technologies.

The medical robotics market is driven by the growing utilization of robot-assisted training in rehabilitation therapy. The integration of robotic technology into rehabilitation therapy enhances patient care, improves outcomes, and offers healthcare providers more efficient and effective treatment options. This, in turn, drives the growth of the medical robotics market as demand for these solutions increases. The increasing preference for minimally invasive surgical procedures is a significant driver of growth in the medical robotics market. Medical robots can provide surgeons with a level of precision and accuracy that is often unattainable through traditional open surgeries. This precision is critical for delicate procedures and allows for smaller incisions, minimizing tissue damage and reducing the risk of complications. This has led to a growing demand for minimally invasive surgical options and, subsequently, a greater adoption of medical robotic systems. Additionally, the market is benefiting from the rising incidence of neurological and orthopedic conditions, along with the expanding global geriatric population, which is driving demand for medical robots. Furthermore, the market is witnessing growth due to the increasing adoption of robot-assisted procedures and the surging demand for telemedicine services. However, a shortage of skilled labor and safety concerns related to robotic surgery devices are constraining the market's growth. Although, continuous technological advancements are fostering innovation and creating numerous opportunities for the further expansion of the medical robotics market.

North America is expected to hold the most prominent market share in the upcoming forecast period. The dominance of the North American market in the medical robotics sector can be attributed to its well-established and robust healthcare infrastructure. The region boasts a strong foundation of healthcare facilities, including advanced hospitals, research centers, and academic institutions. This infrastructure provides a conducive environment for the adoption and integration of medical robotic technologies. Furthermore, North America also benefits from a significant level of investment in research and development, leading to the continuous innovation and advancement of medical robotics. Moreover, a high level of healthcare spending and insurance coverage in the region further supports the growth of the medical robotics market. As a result, North America is poised to maintain its leading position in this industry. Meanwhile, APAC is emerging as the fastest-growing region in the upcoming forecast period. The Asia Pacific region presents a favorable landscape for the expansion of the medical robotics market. This is attributed to the increasing presence of competent companies that are actively involved in the development, manufacturing, and distribution of medical robotic systems. These companies are capitalizing on the growing demand for advanced healthcare solutions in the region, driven by factors such as an expanding middle-class population, rising healthcare awareness, and improving healthcare infrastructure.

Report Findings

1) Drivers

The medical robotics market is driven by the growing utilization of robot-assisted training in rehabilitation therapy.

The increasing preference for minimally invasive surgical procedures is a significant driver of growth in the medical robotics market.

2) Restraints

A shortage of skilled labor and safety concerns related to robotic surgery devices are constraining the market's growth.

3) Opportunities

The continuous technological advancements are fostering innovation and creating numerous opportunities for the further expansion of the medical robotics market.

Research Methodology

A) Primary Research

Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

1. Key Opinion Leaders associated with Infinium Global Research

2. Internal and External subject matter experts

3. Professionals and participants from the industry

Our primary research respondents typically include

1. Executives working with leading companies in the market under review

2. Product/brand/marketing managers

3. CXO level executives

4. Regional/zonal/ country managers

5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications

2. Government/institutional publications

3. Trade and associations journals

4. Databases such as WTO, OECD, World Bank, and among others.

5. Websites and publications by research agencies

Segment Covered

The global medical robotics market is segmented on the basis of type, application, and end user.

The Global Medical Robotics Market by Type

Instruments and Accessories

Robotic Systems

Services

The Global Medical Robotics Market by Application

Laparoscopy Surgeries

Orthopedic Operations

Pharmacy Application

Physical Rehabilitation

Neurosurgery

The Global Medical Robotics Market by End User

Hospitals

Ambulatory Surgery Centres

Rehabiliatory Centres

Company Profiles

The companies covered in the report include

Stryker Corporation

Medtronic

CMR Surgical Ltd.

Intuitive Surgical, Inc.

Johnson & Johnson MedTech

Boston Scientific Corporation

HANSON MEDICAL CENTRE

Ekso Bionics

Zimmer Biomet

Omnicell

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the medical robotics market.

2. Complete coverage of all the segments in the medical robotics market to analyze the trends, developments in the global market and forecast of market size up to 2030.

3. Comprehensive analysis of the companies operating in the global medical robotics market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.