Medical Robots Market by Product & Service (Instruments & Accessories, Robotic Systems), Type (Surgical (Soft: General, Gynecological, Urological; Hard: Knee & Hip, Spine), Rehab, Radiosurgery, Hospital & Pharmacy), End User - Global Forecasts to 2029

Medical Robots Market by Product & Service (Instruments & Accessories, Robotic Systems), Type (Surgical (Soft: General, Gynecological, Urological; Hard: Knee & Hip, Spine), Rehab, Radiosurgery, Hospital & Pharmacy), End User - Global Forecasts to 2029

The medical robots market is projected to reach USD 33.8 billion by 2029 from USD 16.0 billion in 2023, at a CAGR 16.1% during the forecast period. The growing need to minimize medication errors, along with advancements in medical robotic technology and the increasing need for automation in healthcare, are the factors that will drive the growth of this market. On the other hand, stringent regulatory requirements and high cost associated with robotic systems may impede the adoption of medical robots solutions to a certain extent over the forecast period.

“Robotic systems segment is expected to register highest growth in the forecast period, by product & service.”

Based on products & services, the Mental Health Screening market is segmented into robotic systems, instruments & accessories, and services. The robotic systems segment is projected to witness the highest growth rate during the forecast period. Growth in this market can be attributed to the growing focus on adopting technologically advanced surgical robots and instruments among end users.

“Surgical robotic system segment is estimated to hold the largest share of medical robots market, by type.”

Based on type, the medical robots market is segmented into surgical robotic system, rehabilitation robotic systems, radiosurgery robotic systems, and hospital & pharmacy robotic systems. The surgical robotic systems have been further segmented into surgical robotic systems by application - soft tissue surgical robotic system (general surgery, gynecological surgery, urological surgery and other applications) and hard tissue surgical robotic system (knee & hip surgery and spine surgery). The rehabilitation robotic systems have been further segmented into rehabilitation robotic systems by type -therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems, and other rehabilitation robotic systems. The hospital & pharmacy robotic systems have been further segmented into - pharmacy robotic systems (robotic dispensing systems, compounding robotic systems, other pharmacy robotic systems), and hospital robotic systems (delivery robotic systems, telepresence robotic systems, diagnostic robotic systems, and other hospital robotic systems).

The surgical robotic system segment accounted for the largest share of the medical robots market in 2023. This segment is expected to witness significant growth due to the increased demand for surgeries, rising global surgery rates, and growing acceptance of surgical robots.

“The ambulatory surgery centers segment is expected to register highest growth in the forecast period, by end user.”

Based on end user, the Mental Health Screening market is segmented into hospitals & clinics, ambulatory surgery centers, pharmacies, rehabilitation centers, and other end users. the ambulatory surgery centers segment is projected to witness the highest growth rate during the forecast period. The growth of medical robots adoption among ambulatory surgery centers is driven by the uptake in surgical procedures performed in ambulatory surgery centers, growing enthusiasm for ambulatory care driven by potential cost savings, and patient’s increasing demand for efficient healthcare.

“Asia Pacific to register the highest growth in the medical robots market in the forecast period.”

The global Medical robots market is segmented into four major regions, namely, North America, Europe, APAC, and the Rest of the World. In 2023, Asia Pacific was expected to register the highest growth for medical robots solutions in the forecast period. Factors such as the increasing adoption of surgical robots, the large patient pool in the region coupled with the adoption of new technologies and advancements in the healthcare sector, and the government’s focus on improving healthcare infrastructure are expected to drive the growth of the medical robots market in the Asia Pacific.

Breakdown of the supply-side, demand side, primary interviews by company type, designation, and region:

By Supply Side: Tier 1 (25%), Tier 2 (5%), and Tier 3 (70%)

By Designation: C-level Executives (27%), Director-level (18%), and Others (55%)

By Region: North America (40%), Europe (30%), Asia Pacific (20%), Latin America (5%), and Middle East and Africa (5%)

The prominent players in this market are Intuitive Surgical, Inc. (US), Stryker Corporation (US), Medtronic Plc (US), Smith & Nephew Plc (UK), Zimmer Biomet Holdings, Inc. (US), Aethon (US), and Xenex Disinfection Services Inc. (US), Becton, Dickinson And Company (US), Omnicell, Inc. (US), Arxium (Canada), Asensus Surgical, Inc.(US), Zap Surgical Systems, Inc.(US), Accuray Incorporated (US), CMR Surgical (UK), Ekso Bionics Holdings, Inc. (US), Bionik Laboratories Corp. (US), Lifeward, Inc. (Israel), Renishaw Plc (UK), Swisslog Healthcare (Switzerland), and DIH Holdings US Inc. (US). Players adopted organic as well as inorganic growth strategies such as acquisitions, product launches, expansions, agreements & collaborations, and approvals to increase their offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

Research Coverage

The report studies the medical robots market based on product & service, type, end user, and region. The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total medical robots market. The report forecasts the revenue of market segments with respect to five major regions.

Reasons to Buy the Report

The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies.

This report provides insights into the following pointers:

Analysis of key drivers (aging population and rising chronic diseases, technological advancements, increasing need for automation in healthcare, improving reimbursement scenario, and advancements in healthcare funding & infrastructure, and growing need to minimize medication errors), restraints (high cost of robotic systems and stringent regulatory requirements), opportunities (growth opportunities in emerging markets, and novel application) and challenge (patient and provider acceptance).

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the medical robots market.

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of medical robots solutions across regions.

Market Diversification: Exhaustive information about solutions, untapped regions, recent developments, and investments in the medical robots market.

Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the medical robots market.