Medical Robots Market
By Robot Type (Surgical Robots, Exo-robots, Pharma Robots, Cleanroom Robots, Robotic Prosthetics, and Medical Service Robots),
By Application (Orthopaedic Surgery, Laparoscopy, Neurosurgery, Pharmacy, and Rehabilitation),
By Component (Robotic System, Power System, and Instrument and Accessories, Services),
By End Use (Hospitals and Surgery Centres, Rehabilitation Centres and Others),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global medical robot market to worth more than USD 51 billion by 2033.
Medical robots are used in the medicinal field for surgery, rehabilitation, or assistance. They have witnessed an increased application in surgery and rehabilitation owing to improved precision and wonderful efficacy. The rise in strokes, musculoskeletal disorders, and other chronic disorders further fuel market growth for medical robots. Instances of spinal injury due to accidents or trauma trigger further utilization of medical robots for treatment approaches. Surgical robots have been commercialized for Orthopaedic surgeries.
In contrast, wearable exo-robots increasingly gain recognition for strengthening movement efficacy and supporting rapid recovery from limb injuries. Further advancements in medical robots technology focus on improving the functionality and clinical outcomes of robots based services. Emerging economies are witnessing steady penetration of robotic technologies, further propelling the market landscape of robotic systems.
The companies operating within the Medical robots industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, Curexo supplied 62 medical robots worldwide in 2022. This marked an expanding global footprint for the brand. Furthermore, notable investment towards research and development to launch new and innovative products that support operational sufficiency at multiple levels is also practiced by industry stakeholders.
According to the CXOs and primary research conducted, COVID-19 positively impacted the growth of the medical robots market. Medical robots served as shields for doctors during widespread exposure to infection. Doctors at the front line could treat patients using medical robots to prevent direct contact. Medical robots also managed staffing shortages effectively due to their assisting functions. Technological advancements and research continued to expand the market growth of medical robots after the pandemic.
The Medical robots market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the Asia Pacific region will witness the highest market share, followed by Europe, North America, Latin America, and Middle East & Africa. The rise in technological advancements, Quick adoption of new technologies, support by Hospital and regional governments towards integrating high-definition Medical robots, and the presence of major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are Health Robotics SLR, iRobot Corporation, Medrobotics Corporation, Mako Surgical Corp., Mazor Robotics, Renishaw Plc, Stereotaxis Inc., Titan Medical Inc., Varian Medical Systems, and Zimmer Biomet.