Medical Robots Market Size

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.