Medical Robots Market Worth $33.8 billion | MarketsandMarkets™

Medical Robots Market in terms of revenue was estimated to be worth $16.0 billion in 2024 and is poised to reach $33.8 billion by 2029, growing at a CAGR of 16.1% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth in the medical robots market is driven by the aging population and rising chronic diseases, improving reimbursement scenario, and subsequent advancements in healthcare funding & infrastructure. The adoption of medical robots is also expected to increase with the increasing need for automation in healthcare. However, the high cost of robotic systems may pose a challenge to the medical robots market during the forecast period.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2916860&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

Soft tissue surgical robotic system is the fastest growing in the medical robots market in 2023.

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, and other pharmacy robotic systems) and hospital robotic systems (delivery robotic systems, telepresence robotic systems, diagnostic robotic systems, and other hospital robotic systems).

The soft tissue surgical robotic system sub-segment is the fastest growing surgical robotic system in the medical robots market in 2023, attributing to the increasing prevalence of various conditions such as cancer, appendicitis, obesity, and others. These conditions lead to increased demand for robot-assisted surgical procedures with higher accuracy.

Instruments & accessories are the largest product of the medical robots market in 2023.

Based on products & services, the medical robots market is segmented into robotic systems, instruments & accessories, and services. Among these, instruments and accessories segment accounted for the largest share of the medical robots market in 2023. The recurrent purchase of instruments & accessories to be used with the robotic systems instead of robotic systems leads to the higher adoption of this segment.

By end user, ambulatory surgery centers is the fastest growing in the medical robots market in 2023.

Based on end user, the medical robots market is segmented into hospitals & clinics, ambulatory surgery centers, pharmacies, rehabilitation centers, and other end users. The ambulatory surgery centers segment is expected to be the fastest growing segment of the market. The surgical procedures being offered by ASCs at a lower cost than hospitals drives the higher adoption of ambulatory surgery centers among patients.

North America dominates the global medical robots market in 2023.

The medical robots market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2023, North America accounted for the largest share of the medical robots market. As this region is home to a significant number of medical robots manufacturers. Moreover, the increasing adoption of robotic systems by hospitals in the country, the increasing volume of robotic-assisted surgical procedures, and the favourable reimbursement policies in the region, reinforces its position at the forefront of the medical robots market.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=2916860&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

Key Market Players of Medical Robots Industry:

Prominent players in the medical robots market include Intuitive Surgical, Inc. (US), Stryker Corporation (US), Medtronic Plc (US), Smith & Nephew Plc (UK), Zimmer Biomet Holdings, Inc. (US), Asensus Surgical, Inc.(US), Zap Surgical Systems, Inc.(US), Renishaw Plc (UK), Hocoma Ag (Switzerland), Accuray Incorporated (US), Elekta (Sweden), Becton, Dickinson And Company (US), Omnicell, Inc. (US), Arxium (Canada), Ekso Bionics Holdings, Inc. (US), Bionik Laboratories Corp. (US), Lifeward, Inc. (Israel), Cyberdyne Inc.(Japan), Avateramedical Gmbh (Germany),Johnson & Johnson (US), and Swisslog Healthcare (Switzerland).

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%)

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=2916860&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/medical-robotic-systems-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/medical-robotic-systems.asp

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

This release was published on openPR.