Medical Robots Market

The global 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. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The growth of the medical robots market is mainly driven by the advancements in medical robotics technology, the increasing need for automation in healthcare, advancements in healthcare funding & infrastructure driven by an aging population, and rising chronic diseases, along with the growing need to minimize medication errors.

Medical robots Market

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Medical Robots Market Dynamics

DRIVER: Growing need to minimize medication errors

Dispensing errors and Medication errors are recognized as leading causes of hospital readmission across the globe. As defined by the National Coordinating Council for Medication Error Reporting and Prevention, a medication error, encompasses any avoidable occurrence that could result in improper medication utilization or harm to the patient, occurring while the medication is under the supervision of a healthcare professional, patient, or consumer. Some of the key factors contributing to medication errors are poor order communication among physicians and pharmacists, the misunderstanding occurring from similar labels and drug prescriptions during the preparation or dispensing of drugs or during drug administration, and unsafe storage practices in pharmacies.

Pharmacy automated systems are considered one of the t effective solutions to reduce these errors. In the previous time, the successful implementation of automated dispensing machines (ADMs) and automated dispensing cabinets (ADCs) in hospitals led to substantial declines in the quantity of dispensing and medication errors in hospitals. Thus, to minimize medication and dispensing errors, governments in several countries are promoting the use of automated dispensing and medication tools in pharmacies and hospitals. This has led to the greater adoption of pharmacy automation systems.

RESTRAINT: High cost of robotic systems

The utilization of robotic-assisted surgeries tends to be more costly compared to minimally invasive procedures. The American Congress of Obstetricians and Gynecologists suggests limiting the use of robotic hysterectomy to unusual and complex cases. If robotic surgery were employed for all hysterectomies in the US, it could potentially increase annual costs by approximately USD 960 million. SS Innovations (India) has introduced Mantra, a robotic surgical system priced at around Rs 4.5 crore, while the da Vinci system, a widely used robotic platform, ranges between USD 1.5 million and USD 2.5 million (approximately Rs 15 crore). Consequently, the escalating expenses associated with robotic surgery are anticipated to impede the growth of the medical robots market.

OPPORTUNITY: Growth opportunities in emerging markets

The burgeoning economies of emerging markets present lucrative prospects for players within the medical robots sector, primarily fuelled by the increasing adoption of surgical robots in various procedures. Over the past decade, emerging countries have witnessed a notable uptick in surgical interventions, propelled by a burgeoning patient demographic and the surge in medical tourism. Notably, nations like Brazil, Russia, India, China, and South Africa have emerged as some of the world's fastest-growing economies, poised to collectively contribute to a third of the global healthcare expenditure by 2022, as per the World Economic Forum.

India, among other emerging markets, offers radiotherapy treatments at considerably lower costs compared to developed counterparts. For instance, while CyberKnife treatments in the US can range between USD 50,000 to 100,000, the same procedure in India costs approximately 60-80% less, according to data from Tour2India 4Health Group. Moreover, the regulatory landscape in developing nations tends to be less stringent, with lower data requirements. Particularly in the Asia-Pacific region, regulatory policies are perceived as more adaptable and conducive to business, garnering favor among market players.

Consequently, the upward trajectory of healthcare spending and surgical interventions, coupled with the strategic expansions of major industry players into emerging markets, portends significant growth opportunities for the medical robots sector.

CHALLENGE: Patient and provider acceptance

Ensuring patient and provider acceptance is paramount for the widespread adoption of medical robots, as lingering hesitancy stemming from concerns regarding safety, efficacy, and cost must be addressed. Patients may express apprehension about entrusting their care to robotic systems, fearing potential errors or malfunctions during procedures. Similarly, healthcare professionals may harbor doubts about the reliability and effectiveness of robotic technologies, especially in critical medical settings. Additionally, the perceived high costs associated with implementing and maintaining medical robots may act as a barrier to adoption for healthcare institutions. To overcome these challenges, stakeholders must prioritize comprehensive education and training programs to instill confidence in both patients and providers regarding the capabilities and benefits of medical robots. Moreover, transparent communication about safety protocols, rigorous testing procedures, and evidence-based outcomes can help assuage concerns and foster trust in robotic-assisted healthcare interventions. Collaborative efforts to demonstrate the cost-effectiveness and long-term value of medical robots through real-world data and case studies are also essential to garnering broader acceptance and accelerating adoption across healthcare settings.

Medical Robots Industry Ecosystem

The Medical Robots market ecosystem comprises entities responsible for delivering these solutions to end users.

The ecosystem comprises of manufacturers of robotic systems, technology providers, healthcare providers, healthcare payors, healthcare professionals and surgeons, patient and caregivers, and governments and regulatory bodies.

Soft tissue robotic system is the largest surgical robotic system of the medical robots industry in 2023, by type.

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).

Among surgical robotic systems, the soft tissue surgical robotic system sub-segment dominates the medical robots market in 2023, attributed to several factors. The increasing adoption of surgical robots for general and urological surgeries driven by the increasing prevalence of various conditions such as cancer, appendicitis, obesity, and others will fuel the demand for soft tissue surgical robotic systems.

The robotic systems segment accounted for the second largest share of the medical robots industry, by product and service.

Based on products & services, the medical robots market is segmented into robotic systems, instruments & accessories, and services. Among these, robotic systems segment accounted for the second largest share of the medical robots market in 2023. The growing focus on adopting technologically advanced surgical robots and instruments among end users has fueled the market growth in this segment.

The ambulatory surgery centers segment accounted for the second largest share in the medical robots industry, by end user.

Based on end user, the medical robots market is segmented into hospitals & clinics, ambulatory surgery centers, pharmacies, rehabilitation centers, and other end users. In 2023, the ambulatory surgery centers segment accounted for the second largest share of the surgical robots market, attributing to the adoption of surgical procedures being offered by ASCs at a lower cost than hospitals.

North America accounted for the largest share of the medical robots industry in 2023.

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Based on the region, the medical robots market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for the largest share of the medical robots market in 2023. This is due to the the rising adoption of surgical robots, growing prevalence of chronic diseases such as cancer and urologic disorders, and the growing volume of robot-assisted surgeries performed in the region.

Prominent players in medical robots market include Intuitive Surgical, Inc. (US), Stryker Corporation (US), Medtronic Plc (US), Becton, Dickinson And Company (US), Omnicell, Inc. (US), Arxium (Canada), Asensus Surgical, Inc.(US), Zap Surgical Systems, Inc.(US), Renishaw Plc (UK), Smith & Nephew Plc (UK), Zimmer Biomet Holdings, Inc. (US), DIH Holdings US Inc. (US), Accuray Incorporated (US), CMR Surgical (UK), Ekso Bionics Holdings, Inc. (US), Bionik Laboratories Corp. (US), Lifeward, Inc. (Israel), Cyberdyne Inc.(Japan), Avateramedical Gmbh.(Germany),Johnson & Johnson (US), Swisslog Healthcare (Switzerland), Relay Robotics (US), Aethon (US), Xenex Disinfection Services Inc. (US), and Zoll Medical Corporation (US).

Scope of the Medical Robots Industry

The study categorizes the medical robots market to forecast revenue and analyze trends in each of the following submarkets:

By Product & Service

• Instruments & Accessories
• Robotic Systems
• Services

By Type

• Self-reported Questionnaires & Surveys
• Surgical Robotic Systems
  • Surgical Robotic Systems, By Application
    • Soft Tissue Robotic System
      • General Surgery
      • Gynecological Surgery
      • Urological Surgery
      • Other Applications
    • Hard Tissue Robotic System
      • Knee & Hip Surgery
      • Spine Surgery
  • Rehabilitation Robotic Systems
    • Rehabilitation Robotic Systems, By Type
      • Therapeutic Robotic Systems
      • Assistive Robotic Systems
      • Exoskeleton Robotic Systems
      • Other Rehabilitation Robotic Systems
• Radiosurgery Robotic Systems
• Hospital & Pharmacy Robotic Systems
  • Pharmacy Robotic Systems, By Type
    • Robotic Dispensing Systems
    • Compounding Robotic Systems
    • Other Pharmacy Robotic Systems
    • Hospital Robotic Systems
  • Hospital Robotic Systems, By Type
    • Delivery Robotic Systems
    • Telepresence Robotic Systems
    • Diagnostic Robotic Systems
    • Other Hospital Robotic Systems

By End User

• Self-screening mHealth Apps
• Telehealth & Virtual Care Solutions
• Continuous Monitoring Wearable Devices
• AI-based Screening Tools
• Remote Mental Health Platforms
• Hospitals & Clinics
• Ambulatory Surgery Centers
• Pharmacies
• Rehabilitation Centers
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Rest of the Middle East & Africa

Recent Development of Medical Robots Industry:

• In April 2023, Intuitive Surgical’s da Vinci SP system received US FD for a simple prostatectomy.
• In November 2022, an Indian startup SS Innovations launched SSI Mantra for soft tissue surgeries.
• In July 2022, Becton, Dickinson & Company (US) acquired Parata Systems (US) to provide portfolio of innovative pharmacy automation solutions to reduce costs, enhance patient safety and improve the patient experience for retail, hospital and long-term care pharmacies.

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