Medical Robots Market Size to Reach USD 138.45 Bn by 2034

Vantage Market Research releases its latest comprehensive report on the ‘Medical Robots Market’ with a forecast period of 2025-2034. In 2023, the global medical robots market size was USD 26.8 Billion, and is calculated at USD 31.11 billion in 2024. The market is projected to reach USD 138.45 billion in 2034, and register a revenue CAGR of 16.1% over the forecast period (2025-2034).

Market Overview:

The global medical robots market has been gaining rapid traction with evolving approaches and streamlining of operations, and patient care and treatment in the healthcare sector. Technological advancements and increasing preference for automation and minimally invasive procedures as well as development and introduction of medical robots that are currently playing pivotal roles in enhancing precision, reducing errors, and improving patient outcomes are also key factors driving growth of the global medical robots market. Medical robots are fast becoming indispensable across various applications, including surgery, rehabilitation, diagnostics, and even hospital disinfection, among others. This combination of technological advancements and innovation, rising healthcare expenditure, and accelerated integration of robotics into medical operations and procedures is expected to continue to revolutionize the healthcare sector and drive growth of the medical robots market over the forecast period.

The introduction of diverse robotic systems such as surgical assistants, rehabilitation robots, pharmacy automation robots, and non-invasive treatment devices continues to drive further scope for medical technology. These innovations are paving the way for more efficient and effective medical practices, and healthcare institutions are recognizing the advantages of surgical accuracy and automated care. As a result, investments are increasing into the sector, from both private and government entities, to advance these technologies and solutions. 

Among the different robotic applications, surgical robots are witnessing particularly fast adoption, especially for minimally invasive procedures, where precision and reduced recovery times are crucial. In addition, robots designed for rehabilitation, pharmacy management, and hospital automation are seeing greater demand, driven by a focus on improving operational efficiency and patient care outcomes. Advances in Robotics, and integration of Artificial Intelligence (AI) and Machine Learning (ML) are enabling medical robots to handle increasingly complex medical tasks with precision. Surgical robots powered by AI offer enhanced control and visualization, making them highly effective for delicate procedures. Moreover, these systems can learn from surgical data, refining their performance over time and boosting their appeal to healthcare providers.

Advantages of minimally invasive procedures are gaining preference among individuals, patients, and healthcare personnel due to the numerous benefits, including quicker recovery, reduced pain, and shorter hospital stays. Medical robots excel in performing these surgeries, providing unmatched accuracy and dexterity. This capability makes medical robots ideal for complex operations, such as those in cardiac, orthopedic, and neurosurgery. As the medical community increasingly recognizes these benefits, the demand for robotic assistance is projected to rise steadily.

The need for medical robots continues to expand due the rapidly aging global population and increasing prevalence of chronic conditions like cardiovascular and orthopedic issues. These demographic trends are driving higher demand for healthcare services, including surgeries and rehabilitative care. In this context, robotic solutions like exoskeletons and rehabilitation robots are proving essential, particularly for elderly care, and demand is expected to continue to rise. Government initiatives aimed at modernizing healthcare infrastructure and funding medical technology research are also supporting market growth. This trend is especially pronounced in the US,  China, and countries in Europe, where supportive policies and substantial R&D investments are creating favorable conditions for robotic advancements. 

However, factors such as the significant high costs associated with acquiring and maintaining medical robots, need for skilled personnel for operating medical robots and skilled workforce challenges in various countries, challenges in the regulatory landscape for medical robots and delays in approval and commercialization of new systems, among other factors are expected to have a negative impact on market growth.

Some Key Takeaways:

• North America medical robots market accounted for over 50% of global revenue share in 2023. 
• Substantial investment in medical technologies and devices, including AI, ML, and robots and robotics in healthcare and other sectors are key factors driving North America market growth.
• The US accounted for majority revenue share contribution to the North America market due to presence of a number of industry giants such as Intuitive Surgical (Da Vinci Surgical System), Medtronic and others.
• In Europe, Germany, the UK, and France lead in terms of strong revenue share and adoption of medical robots, supported by government initiatives and high healthcare standards.
• Germany is particularly appreciated for its robust healthcare funding and adoption of robots in complex surgeries.
• Companies such as Siemens Healthineers (Germany) and Smith & Nephew (UK) operate prominently in the Europe market, developing robotics that comply with stringent EU medical regulations. 
• Asia Pacific is registering moderate incline in revenue growth, led by China, Japan, and South Korea.
• Companies in China are developing robots suited to local needs, with government support under the ‘Made in China 2025’ initiative prioritizing domestic medical technology innovation adding momentum to development and innovation.  
• The surgical robots segment is expected to register fastest revenue growth rate and account for largest revenue share over the forecast period.
• Among the component segments, the robotic systems segment is expected to account for largest revenue share over the forecast period. 
• Among the application segments, the laparoscopy segment is expected to account for largest revenue share over the forecast period.
• Among the end-user segments, the hospitals segment is expected to account for largest revenue share over the forecast period. 
• The competitive landscape in the global medical robots market is highly dynamic, and characterized by a blend of established players and innovative new entrants. 
• Leading companies, such as Intuitive Surgical, Medtronic, Stryker, and Siemens Healthineers, are implementing strategic measures to strengthen their market position and expand their consumer base.

Company List:

• Intuitive Surgical, Inc.
• Stryker Corporation
• Medtronic plc
• Zimmer Biomet Holdings, Inc.
• Smith & Nephew plc
• Siemens Healthineers AG
• Johnson & Johnson (Verb Surgical)
• Ekso Bionics Holdings, Inc.
• ReWalk Robotics Ltd.
• Cyberdyne Inc.
• ARxIUM
• Omnicell, Inc.
• TransEnterix, Inc. 
• Accuray Incorporated
• Hocoma AG

Recent Developments:

• September 5, 2024: Medtronic plc, which is a leading company in healthcare technology, has expanded its Medtronic Customer eXperience Center (MCXC) in Singapore by launching the region's first Robotics Experience Studio in Southeast Asia. This development highlights Medtronic's dedication to improving access to advanced healthcare technologies through collaboration, education, and training within the healthcare community, and also aims to enhance the Centres of Excellence at Sunway Medical Centre, which is a private quaternary hospital in Malaysia, with a focus on spine, neuroscience, and cardiovascular medicine. In addition, advanced robotic surgical techniques will be tested in a clinical setting as part of this partnership.
• February 22, 2024: Zimmer Biomet Holdings, Inc., which is an innovative leader in medical technology, announced it has secured clearance from the U.S. Food and Drug Administration (FDA) for its ROSA Shoulder System, designed for robotic-assisted shoulder replacement procedures. This groundbreaking system is recognized as the first of its kind for shoulder replacement surgery, marking the fourth addition to the company's extensive ROSA Robotics portfolio, which also features the ROSA Knee System for total knee arthroplasty and the ROSA Hip System for total hip replacements. The ROSA Shoulder is designed to provide surgeons with versatility to perform total shoulder replacements using either anatomic or reverse methods, facilitating accurate placement that contributes to better surgical outcomes.

Segmentation of the Global Medical Robots Market:

By Product Type:

• Surgical Robots
• Rehabilitation Robots
• Non-invasive Radiosurgery Robots
• Hospital and Pharmacy Robots
• Other Types

By Component:

• Robotic Systems
• Software & AI Modules
• Sensors & Actuators
• Power & Control Systems
• End Effectors & Accessories
• Services

By Application:

• Laparoscopy
• Orthopedics
• Neurosurgery
• Urology
• Cardiology
• Gynecology
• Rehabilitation
• Pharmacy & Laboratory Applications
• Diagnostic Imaging
• Others

By End-User:

• Hospitals
• Ambulatory Surgery Centers (ASCs)
• Rehabilitation Centers
• Specialty Clinics
• Pharmacy & Laboratory Facilities
• Research Institutes
  • United States

Regional Segmentation: 

North America

• Canada
• Mexico

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Rest of Latin America 

Middle East & Africa

• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA