Global Medical robots market

Medical Robots Market Size, Share, Growth Analysis, By Product & Services(Instrument & Accessories, Robotic Systems, Services), By Applications(Laparoscopy, Orthopaedic Surgery, Pharmacy Applications, Physical Rehabilitation), By End Use(On-premise solutions, Cloud-based solutions), By End user(Hospitals, Ambulatory Surgery Centres, Rehabilitation Centres, Other End Users), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45I2048 | Region: Global | Published Date: July, 2001
Pages: 157 |Tables: 121 |Figures: 77

Medical Robots Market Insights

Medical Robots Market size was valued at USD 6.9 billion in 2019 and is poised to grow from USD 8.1 billion in 2023 to USD 34.32 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

Medical robotic systems are used in a variety of medical applications such as surgery and vary depending on their application. Surgical robotic systems, spine robotic systems, laparoscopic robotic systems, and rehabilitation robotic systems are examples of these. Technological advancements, as well as increased surgeon or patient acceptance of laparoscopic procedures, robotic assistance, and advanced medical imaging, are expected to drive growth in the market for medical robotic systems. Major players are concentrating on product development, product launches, regulatory approvals, and the commercialization of innovative techniques for medical robotic systems. As a result, rising product approvals from regulatory bodies are expected to propel the medical robotic system market over the forecast period. For example, Mazor Robotics Ltd., a market leader in surgical robotic systems, received CE Mark approval for its Mazor X Surgical Assurance Platform in 2019. Mazor and its commercial partner Medtronic can now market Mazor X in the European Union thanks to the CE Mark. Rehabilitation robotic systems are designed to give people with disabilities autonomy. As a result, demand for such systems is expected to rise, bolstering the growth of the medical robotic systems market. Several other robotic systems are in the works, and when approved by the FDA, they are expected to boost the market for medical robotic systems in the near future.

US Medical Robots Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 6.9 billion

Largest Segment

Laparoscopy

Fastest Growth

Laparoscopy

Growth Rate

17.4% CAGR

Global Medical Robots Market ($ Bn)
Country Share for North America Region (%)

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Medical Robots Market Segmental Analysis

Global medical robots market is segmented based on product & service, application, end use, end user, and region. Based on product & services, market is segmented as instrument & accessories, robotic systems, services. Based on application, Medical Robots Market is segmented as laparoscopy, orthopaedic surgery, pharmacy applications, physical rehabilitation, external beam radiation therapy, neurosurgery, and other applications. Based on end use, market is segmented as on-premise solutions, cloud-based solutions. Based on end user Medical Robots Market is segmented as hospitals, ambulatory surgery centres, rehabilitation centres, other end users. Based on region, market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.

Medical Robots Market Analysis by Product and Service:

In 2020, the instrument and accessories segment had the largest market share. The medical robots market is divided into three categories: robotic systems, instruments and accessories, and services. In 2019, the instruments and accessories segment held the largest market share. During the forecast period, this segment is also expected to grow at the fastest CAGR of 18.5%. This segment's large share and high growth rate are primarily driven by recurring purchases of instruments and accessories, as opposed to robotic systems, which are a one-time investment.

Medical Robots Market Analysis by Application:

In 2022, the laparoscopic application segment will have the largest market share.

The medical robots market is divided into applications such as laparoscopy, orthopaedic surgery, pharmacy applications, physical rehabilitation, external beam radiation therapy, neurosurgery, and others. The laparoscopy application segment is expected to account for the largest share during the forecast period due to an increase in surgical laparoscopy procedures performed globally and an increase in surgical robot adoption.

Global Medical Robots Market By Application, 2023 (%)

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Medical Robots Market Regional Insights

Based on region global medical robots market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. Higher Adoption of advanced surgical and rehabilitation robots is responsible for North America's dominant share of the global market.

The global market was dominated by North America. In 2018, the North America market was worth $1,685.7 million USD. Due to higher per capita healthcare expenditure and an increasing number of patients undergoing minimally invasive surgical procedures, there is an increasing demand for advanced surgical robots from healthcare settings in North America. The rising prevalence of chronic diseases, combined with an increase in the number of patients suffering from neurological disorders, are driving demand for surgical, rehabilitation, and other robots in North America. During the forecast period, increasing demand for surgical and rehabilitation robots is expected to be driven by rapidly developing hospital and healthcare infrastructure in Asia Pacific, the Middle East, and Africa. During the forecast period, the medical robotic systems market share in Europe and Latin America is expected to grow at a moderate CAGR.

Global Medical Robots Market By Region, 2024-2031
  • Largest
  • Fastest

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Medical Robots Market Dynamics

Medical Robots Market Drivers

  • Benefits of robotic-assisted surgery and robotic-assisted rehabilitation therapy. The demand for minimally invasive surgeries (MIS) is increasing globally, owing to the benefits associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, shorter recovery periods, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by ensuring greater accuracy and repeatability, as well as greater control and efficiency. According to a 2018 article on a gynaecological study of laparoscopy hysterectomy, the straight-stick laparoscopy to open surgery conversion rate was 25%. Procedures using a robotic platform, on the other hand, had a conversion rate of less than 5%, resulting in less morbidity and blood loss.

Medical Robots Market Restraint

  • Robot-assisted surgeries are significantly more expensive than minimally invasive procedures. Robotic hysterectomy is only recommended by the American Congress of Obstetricians and Gynaecologists for unusual and complex clinical conditions. According to the association, implementing robotic surgery for all hysterectomies would add an estimated USD 960 million to the annual cost of hysterectomy surgeries in the United States. The da Vinci system, one of the most commonly used robotic systems, costs between USD 1.5 million and USD 2.5 million per unit, whereas the CyberKnife radiosurgery robotic system costs between USD 4 and 7 million per unit. A Lokomat rehabilitation robot costs around USD 380,000 on average. Furthermore, the annual maintenance cost of a robot is close to USD 125,000, adding to the already exorbitant cost of robotic surgery. In August 2018, a research letter published in the Journal of the American Medical Association (JAMA) estimated the cost of each robotic surgical procedure to be USD 3,568. As a result of the rising cost of surgeries due to the use of robotic systems, the medical robots market is expected to slow.

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Medical Robots Market Competitive Landscape

The global medical robots market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.

Top Players in the Global Medical Robots Market

  • Intuitive Surgical, Inc.
  • Stryker Corporation
  • Accuray Incorporated
  • Mazor Robotics Ltd. (acquired by Medtronic plc)
  • Hansen Medical Inc. (acquired by Auris Health)
  • Medrobotics Corporation
  • Smith & Nephew plc
  • TransEnterix Surgical, Inc.
  • Renishaw plc
  • ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation)
  • Medtronic plc
  • Hocoma AG (a subsidiary of DIH International Limited)
  • Verb Surgical Inc. (a joint venture between Verily Life Sciences LLC and Ethicon, Inc.)
  • Auris Health
  • CMR Surgical Ltd.
  • SRI International
  • Omnicell, Inc.
  • Ekso Bionics Holdings, Inc.
  • Blue Belt Technologies Ltd. (acquired by Smith & Nephew plc)
  • Titan Medical Inc.

Medical Robots Market Recent Developments

Stereotaxis Inc. announced a strategic collaboration with Osypka AG in May 2019 to advance robotic catheter technology. This collaboration aims to design and develop a next-generation magnetic ablation catheter that will be guided by Stereotaxis' robotic technology.

Intuitive Surgical Inc. submitted a premarket notification to the USFDA in September 2018 for the company's new flexible, robotic-assisted, catheter-based platform, which is designed to navigate through very small lung airways in order to reach peripheral nodules for biopsies.

Western Technology Investment committed $25 million in venture debt to Med robotics Corporation in June 2018. (WTI). To meet the growing demand, the company will use these funds to develop products and applications that will allow surgeons to reach deeper into the digestive tract, as well as to expand its manufacturing capabilities.

Stryker Corporation (US) received regulatory approval in Japan for the MAKO robotic surgery system in 2020 for partial knee indication.

Accuray (US) launched the CyberKnife S7 System in 2020, a next-generation CyberKnife platform with advanced precision and real-time AI-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments.

Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modelling, and patient-specific implants, was acquired by Medtronic (Ireland) in 2020.

Medical Robots Key Market Trends

  • The global medical robots market is being driven by a rapid shift toward laparoscopic surgical procedures. Owing to various clinical benefits of the latter, there is a rapid shift away from traditional open surgical procedures and toward minimally invasive surgical procedures around the world. These advantages include fewer post-surgical complications, shorter hospital stays, and lower procedure costs. Higher efficiency of surgical robots in performing laparoscopic surgical procedures, as well as the introduction of new and advanced procedure-specific robots in the global market, were some of the major factors driving medical robotic system demand and surgical robot adoption in the global market.

Medical Robots Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global medical robots market analysis, several important driving factors will drive the growth of the global Medical robots market, including the various benefits offered by robot assisted training and robotic assisted surgery in rehabilitation therapies, improvements in the reimbursement scenario by governments around the world, and rising funding aimed at furthering research pertaining to the development of new and innovative medical robots. Furthermore, some of the key drivers influencing the growth of the global medical robots market include technological advancements in robotic systems and relevant product offerings, as well as rising adoption of surgical medical robots in both developed and developing countries around the world.

Report Metric Details
Market size value in 2023 USD 6.9 billion
Market size value in 2031 USD 34.32 billion
Growth Rate 17.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product & Services
    • Instrument & Accessories, Robotic Systems, Services
  • Applications
    • Laparoscopy, Orthopaedic Surgery, Pharmacy Applications, Physical Rehabilitation, External Beam Radiation Therapy, Neurosurgery, Other Applications
  • End Use
    • On-premise solutions, Cloud-based solutions
  • End user
    • Hospitals, Ambulatory Surgery Centres, Rehabilitation Centres, Other End Users
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Intuitive Surgical, Inc.
  • Stryker Corporation
  • Accuray Incorporated
  • Mazor Robotics Ltd. (acquired by Medtronic plc)
  • Hansen Medical Inc. (acquired by Auris Health)
  • Medrobotics Corporation
  • Smith & Nephew plc
  • TransEnterix Surgical, Inc.
  • Renishaw plc
  • ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation)
  • Medtronic plc
  • Hocoma AG (a subsidiary of DIH International Limited)
  • Verb Surgical Inc. (a joint venture between Verily Life Sciences LLC and Ethicon, Inc.)
  • Auris Health
  • CMR Surgical Ltd.
  • SRI International
  • Omnicell, Inc.
  • Ekso Bionics Holdings, Inc.
  • Blue Belt Technologies Ltd. (acquired by Smith & Nephew plc)
  • Titan Medical Inc.
Customization scope

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  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Medical Robots Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Medical Robots Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Medical Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Robots Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Robots Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Medical Robots Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Medical Robots Market size was valued at USD 6.9 billion in 2019 and is poised to grow from USD 8.1 billion in 2023 to USD 34.32 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

The medical robots market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective. 'Intuitive Surgical, Inc.', 'Stryker Corporation', 'Accuray Incorporated', 'Mazor Robotics Ltd. (acquired by Medtronic plc)', 'Hansen Medical Inc. (acquired by Auris Health)', 'Medrobotics Corporation', 'Smith & Nephew plc', 'TransEnterix Surgical, Inc.', 'Renishaw plc', 'ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation)', 'Medtronic plc', 'Hocoma AG (a subsidiary of DIH International Limited)', 'Verb Surgical Inc. (a joint venture between Verily Life Sciences LLC and Ethicon, Inc.)', 'Auris Health', 'CMR Surgical Ltd.', 'SRI International', 'Omnicell, Inc.', 'Ekso Bionics Holdings, Inc.', 'Blue Belt Technologies Ltd. (acquired by Smith & Nephew plc)', 'Titan Medical Inc.'

Benefits of robotic-assisted surgery and robotic-assisted rehabilitation therapy. The demand for minimally invasive surgeries (MIS) is increasing globally, owing to the benefits associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, shorter recovery periods, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by ensuring greater accuracy and repeatability, as well as greater control and efficiency. According to a 2018 article on a gynaecological study of laparoscopy hysterectomy, the straight-stick laparoscopy to open surgery conversion rate was 25%. Procedures using a robotic platform, on the other hand, had a conversion rate of less than 5%, resulting in less morbidity and blood loss.

The medical robots market is being driven by a rapid shift toward laparoscopic surgical procedures. Owing to various clinical benefits of the latter, there is a rapid shift away from traditional open surgical procedures and toward minimally invasive surgical procedures around the world. These advantages include fewer post-surgical complications, shorter hospital stays, and lower procedure costs. Higher efficiency of surgical robots in performing laparoscopic surgical procedures, as well as the introduction of new and advanced procedure-specific robots in the market, were some of the major factors driving medical robotic system demand and surgical robot adoption in the market.

Based on region medical robots market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. Higher Adoption of advanced surgical and rehabilitation robots is responsible for North America's dominant share of the market.

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Global Medical robots market

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