Medical Robots Market size was over USD 14.15 billion in 2023 and is projected to reach USD 95.27 billion by the end of 2036, witnessing around 15.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of medical robots is assessed at USD 15.94 billion.
This can primarily be attributed to the increasing preference for minimally invasive surgeries across the world. Minimally invasive surgeries are associated with smaller incisions, faster recovery time, less pain, and short hospital stay. According to the John Hopkins Medicine organization, the use of minimally invasive surgeries can further reduce post-operative complications and save millions of dollars on the country’s healthcare bill. According to a study, it has been estimated that if all the hospitals in the United States will increase the number of minimally invasive procedures by 50%, they can save up to USD 288 million a year. Besides, a rapidly developing healthcare infrastructure across various regions is also projected to raise the demand for robotics-assisted medical care over the forecast period. In addition to these factors, the increasing prevalence of chronic diseases coupled with high per capita healthcare expenditure is also anticipated to favor the growth of the medical robots market in the upcoming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.8% |
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Base Year Market Size (2023) |
USD 14.15 billion |
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Forecast Year Market Size (2036) |
USD 95.27 billion |
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Regional Scope |
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The medical robots market is segmented by robotic systems type into surgical robots, rehabilitation robots, telepresence robots, and others, out of which the surgical robots segment capture the higher share. This can be attributed to the growing demand for surgical robots from the laparoscopy and orthopedic sectors.
Based on application, the market has been segmented into laparoscopy, radiation therapy, orthopedic surgery, neurosurgery, pharmacy, and others, out of which the orthopedic surgery segment is anticipated to grow at a high rate. This can be attributed to the rising application of surgical robots in total knee replacement surgeries. It has been observed that robotic technology in knee replacement surgeries can improve outcomes for patients, which is one of the key factors contributing to the growth of the market segment.
Based on end-user, the market is further divided into hospitals, ambulatory surgical centers, rehabilitation centers, and others. Hospitals presently capture a higher share of the market, which is primarily attributed to the increasing investment in enhancing healthcare facilities across hospitals. Further, hospitals experience a high patient influx as compared to others, which is also a key factor accelerating the growth of the market segment.
Our in-depth analysis of the global market includes the following segments
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By Robotic System |
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By Application |
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By End-User
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APAC Market Statistics
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. Asia Pacific industry is predicted to hold largest revenue share by 2036, due to gradually developing healthcare infrastructure. Increasing demand from countries such as China, Japan, and India, on account of the rising cases of acute and chronic diseases, is one of the key factors contributing to the growth of the market in the region. According to the World Health Organization (WHO), chronic diseases such as cardiovascular diseases, respiratory diseases, diabetes, and cancer are the leading cause of death in Asian countries.
North America Market Analysis
Presently, North America captures the higher share of the robotics-assisted medical care market on account of the region’s rapidly developing healthcare infrastructure and growing healthcare expenditure. According to the World Bank Data, the healthcare expenditure in the United States accounted for nearly 17% of the country’s total GDP. The growing healthcare expenditure in the country is expected to introduce new innovations over the forecast period.
Author Credits: Radhika Pawar
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