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

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.