Medical Robotics Market is estimated to grow at a CAGR of ~10.8%, till 2035, claims Roots Analysis

In healthcare, several distinct categories of medical robots have emerged, each having proficiency in performing the designated functions in various fields related to medical science. Medical robots have been broadly classified into four types, encompassing surgical robots (for minimally invasive surgeries and other general surgeries), rehabilitation robots, hospital robots and care robots. These categories allow the medical professionals to flexibly leverage the robotic platforms as per their unique operational requirements, thereby fostering efficiency, accuracy and innovation across the healthcare industry. However, there is a necessity for educating people about the healthcare innovations in order to alleviate the apprehension of medical robots which is still a relatively new technology, facilitating proper awareness to them in order to fully understand their capabilities, limitations, safety and the ethical implications of using robots in healthcare operations.

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Medical Robotics Market Size

According to Roots Analysis, the global medical robotics market is estimated to be around USD 31 billion in 2035. It is worth mentioning that growth of medical robotics market is driven by several factors, such as rising incidence of chronic diseases requiring surgical intervention and conditions, such as stroke, acquired brain injury, spinal cord injury, osteoarthritis, cerebral palsy and peripheral neuropathy that can result in muscle weakness, spasticity, loss of coordination, and impaired balance in the patients.

In terms of type of medical robots, majority share of the global medical robots market in 2023 is likely to be captured by surgical robots and this trend is unlikely to change in the future. Further, amongst the key geographical regions, majority of the global medical robotics market in 2035 is anticipated to be captured by players based in North America.

Medical Robotics Market Landscape

The current market landscape comprises of more than 110 surgical robot companies and close to 80 rehabilitation robot developers. Moreover, the surgical robots market is currently dominated by over 50% of small and very small players. This suggests that the surgical robotics industry is enticing for new entrants and startups. Further, this growth can also be attributed to the evolving need for automation in conducting complex medical procedures in the healthcare industry, along with the promising future prospects for remote surgery. Furthermore, majority of the rehabilitation robot developers are headquartered in Europe, followed by those located in the Asia-Pacific region. Further, we came across three rehabilitation robot developers situated in Middle Eastern region, namely Egypt (Cosmos Bionics), Israel (MediTouch) and Iran (Pedasys).

Partnership Activity in Medical Robotics Domain

In recent years, several partnerships have been forged by industry and non-industry stakeholders to strengthen their presence in the field of surgical robots and rehabilitation robots domain. Notably, mergers and acquisitions, and distribution agreements emerged as the most popular type of partnership models adopted by various stakeholders in surgical and rehabilitation robotics domain, respectively. Amongst the intracontinental agreements, the maximum number of deals were inked by players based in North America. In terms of intercontinental deals, many deals in this domain were signed between companies based in different regions, indicating the rise in interest of the stakeholders to make a global presence in this industry.

Leading Companies in Medical Robotics Market

Examples of key companies engaged in the medical robotics domain (which have also been profiled in this report) include Abbott, CYBERDYNE, Ekso Bionics, ExoAtlet, Fourier Intelligence, Gloreha, Guangzhou Yikang, Hexar Humancare, Hocoma, Intuitive Surgical, Johnson & Johnson, Medtronic, Panasonic, Renishaw, Siemens Healthineers, Smith+Nephew, Stryker, Zimmer Biotech.

All your Questions Related to Medical Robotics Market Answered in this Report

The Medical Robotics Market, till 2035 report features an extensive study of the current market landscape, market size and future opportunities associated with the surgical robotics and rehabilitation robotics domain, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the medical device industry. The report answers many key questions related to this market. Click on the below link to know more about this emerging area of research.

https://www.rootsanalysis.com/reports/medical-robotics-market.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights.