Medical Robots Market To Show Impressive Growth of During the Forecast Period of 2023-2028

The global medical robots market size was USD 2862.35 million in 2021 and is expected to register a steady revenue CAGR of 2.83% during the forecast period. Key factors such as increasing prevalence of chronic disorders across the globe, rising number of knee and hip replacement surgeries, and rapid advancements in robotics are driving global market revenue growth.

Medical robots are one of the emerging and most useful machines used in healthcare centers such as hospitals, ambulatory centers, rehabilitation centers, pharmacies, and research institutions. These medical robots are transforming how surgeries are performed and are streamlining supply delivery, disinfection overall hospital logistics and clinical work and enhancing workplace safety and patient care. Medical robots support minimally invasive procedures, offer high level care for patients suffering from chronic diseases, intelligent therapeutics and safe environment for patients and healthcare workers. Some of the commonly used medical robots include surgical robots, rehabilitation robots, laboratory robots, robots for post-operative care and radiotherapy, and robotic prosthetics.

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Other factors such as growing adoption of telemedicine and rehabilitation robots, rising automation in healthcare centers, improving reimbursement scenarios, and increasing investments in developing more advanced medical robots are expected to drive global market growth going ahead.

However, high cost of medical robots, low awareness about benefits of medical robots, dearth of skilled healthcare professionals, and stringent regulatory norms for product approval are some key factors that can restrain overall market growth during the forecast period.

Pharmacy Automation Robot Segment To Register Rapid Revenue CAGR:

The pharmacy automation segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to rising production of drugs to cater to increasing prevalence of diseases, increasing automation in pharmacies, and high usage of robots for dispensing pills and tablets, searching for medication, managing stock levels, streamlining overall workflow, and reducing manual errors. 

Hospitals Segment to Account for Largest Revenue Share:

The hospitals segment is expected to account for largest revenue share between 2023 and 2028. Factors such as increasing patient admissions, rising number of surgeries, improving healthcare infrastructure, rising automation in hospitals, growing adoption of robotic-assisted surgery, and rising adoption of advanced robots in medium to large scale hospitals worldwide are expected to drive segment revenue growth during the forecast period.

North America to Lead In Terms of Revenue Share:

North America is expected to account for largest revenue share of 53% in the global market during the forecast period. This can be attributable to presence of well-established healthcare facilities, rapid adoption of advanced technologies, rising demand for surgical robots, and increasing adoption of robotic-assisted surgery and robot-assisted training in rehabilitation therapy. In addition, presence of leading manufacturers, and increasing investments in developing advanced medical robots are expected to drive North America market growth during the forecast period.

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Medical Robots Market By Company:

Intuitive Surgical
Mazor Robotics
Stryker
Hansen Medical
Rewalk
Accuracy
Kirbylester
Ekso Bionics Holdings
Aesynt
Arxium
Aethon
iRobot

Medical Robots Industry Recent Developments:

In December 2020, Sysmex Corporation announced the launch of surgical robot unit, hinotori surgical robot system to assist surgeons in conducting operations with greater precision.
In November 2021, Interventional Systems with partnership to Ningbo Hicren launched Micromate, the world’s smallest head-to-toe medical robot for interventional procedures.

The global medical robots market has been segmented based on type, application, and region:

Medical Robots Market Segment by Type:

Surgical Robot
Rehabilitation Robot
Pharmacy Automation Robot
Others

Medical Robots Market Segment by Application:

Hospitals
Rehabilitation Centers
Pharmacy, Research Institutions

Medical Robots Market Segment by Region:

North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)

Key Reasons to Purchase:

Estimates 2023 to 2028 medical robots market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the medical robots market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global medical robots market

Key Questions Addressed:

What is the market size of the global medical robots market during the forecast period?
What was the market size of the global medical robots market in 2021?
Which region is expected to dominate other regional markets throughout the forecast period?
What are the key factors expected to drive global market growth during the forecast period?
What are the key restraints expected to hamper overall market growth between 2023 and 2028?
Which region is expected to register rapid revenue CAGR over the forecast period?

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