Medical Robotics Market

Medical Robotics Market: Industry Trends and Global Forecasts, Till 2035 - Distribution by Type of Medical Robot (Surgical Robots and Rehabilitation Robots), Offering of Surgical Robot Developers (Instruments / Accessories, Surgical Robotics System and Services), Deployment Model (On-Premise and Cloud / Remote), Type of Surgical Procedure Supported (General Surgery, Orthopedic Surgery, Abdominal and Pelvic Surgery, Urologic Surgery and Other Surgeries), Body Part Covered (Lower Body, Upper Body and Full Body), Mode of Operation (Powered and Hybrid), Form of Exoskeleton (Rigid and Soft), Mobility (Mobile and Fixed / Supported), Application Area (Therapies / Treatment and Diagnostics), End User (Hospitals, Surgery Centers, Diagnostic Labs and Other End Users) and Key Geographical Regions (North America, Europe, Asia-Pacific, and Rest of the World)

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Medical Robotics Market Overview

The global medical robotics market size is estimated to grow from $ 10.1 billion in 2024 to $ 31.3 billion by 2035, representing a CAGR of 10.8% during the forecast period 2024-2035.

Medical Robotics Market By Geography, 2024-2035 (USD Billion)

The new research study consists of industry trends, detailed medical robots market analysis, rehabilitation robots market analysis, funding and investment, partnership and collaboration, market impact analysis, surgical robots market forecast and opportunity analysis, and rehabilitation robots market forecast and opportunity analysis. The growth in the opportunity over the next decade is likely to be the result of anticipated rise in the demand for medical robots.

Medical robots are medical devices employed in different areas of healthcare, including surgical procedures, patient monitoring, automation in healthcare industry, providing physical support to individuals with mobility impairments and socially engaging elderly patients. The ever-increasing emphasis on patient-centric care including minimized incisions, fewer cuts, reduced scarring, diminished pain, enhanced safety, accelerated recovery times, and significant cost-saving potential have accentuated the need for medical robots. With the assistance of medical robots in conducting repetitive tasks, doctors, clinicians, nurses and other healthcare professionals have been able to easily focus on other critical aspects of patient care. Moreover, considering the multitude of benefits offered by surgical robots, a significant paradigm shift has been observed from conducting open surgeries to minimally invasive surgeries.

Further, rehabilitation robots (robotic wearable exoskeletons) have emerged as specialty medical robots that are designed to help patients with mobility issues, that are either partially or completely paralyzed, in restoring movements of upper extremity or lower extremity. The rehabilitation robots also assist the patients / caregivers with tasks, such as lifting and moving patients, and standing for extended periods of time, aiding the recovery process, providing consistent and customized therapy, while also reducing the physical strain on healthcare professionals. Furthermore, the use of care robots (social robots) in healthcare is rapidly gaining traction due to their ability to support the geriatric population and patients suffering from disability / chronic illness by extending companionship, conducting routinely tasks, providing cognitive support and remote monitoring. These social robots have not only reduced the burden on caregivers but also fostered better patient outcomes. With growing use and continuous advancements in medical robotics, the adoption of medical robots in healthcare is poised to transform the way medical outcomes are achieved, bringing significant benefits to patients and healthcare providers. As these revolutionary trends continue to evolve, the medical robotics market is likely to witness significant market growth during the forecast period.

Medical Robotics Market Share Insights

The medical robotics market research report presents an in-depth analysis of the various companies that are involved in the global medical robotics industry, across different segments, as defined in the table below:

Medical Robotics Market: Report Attributes / Market Segmentations

Key Report Attribute Details
Historical Trend 2019-2023
Base Year 2023
Forecast Period 2024-2035
Market Size 2024 $10.1 Billion
CAGR 10.8%
Type of Medical Robot
  • Surgical Robots
  • Rehabilitation Robots
Offerings of Surgical Robot Developers
  • Instruments / Accessories
  • Surgical Robotics System
  • Services
Deployment Model
  • On-Premises
  • Cloud / Remote
Type of Surgical Procedure Supported
  • General Surgery
  • Orthopedic Surgery
  • Abdominal and Pelvic Surgery
  • Urologic Surgery
  • Other Surgeries
Body Part Covered
  • Lower Body
  • Upper Body
  • Full Body
Mode of Operation
  • Powered 
  • Hybrid
Form of Exoskeleton
  • Rigid
  • Soft
Mobility
  • Mobile
  • Fixed / Supported 
Type of Application Area
  • Therapies / Treatment
  • Diagnostics
Type of End User
  • Hospitals
  • Surgery Centers
  • Diagnostic Labs
  • Other End Users
Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
Leading Market Players
  • 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
(Full list of 110+ surgical robot developers and ~80 rehabilitation robot developers captured is available in the report)
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Excel Data Packs  (Complimentary)
  • Surgical Robot Developers Market Landscape Analysis
  • Rehabilitation Robot Market Landscape Analysis
  • Company Competitiveness Analysis (Surgical Robot Developers)
  • Product Competitiveness Analysis (Rehabilitation Robots)
  • Partnerships and Collaborations (Surgical Robots)
  • Partnerships and Collaborations (Rehabilitation Robots)
  • Funding and Investments (Surgical Robots)
  • Blue Ocean Strategy (Rehabilitation Robots)
  • Surgical Robots Market Forecast and Opportunity Analysis
  • Rehabilitation Robots Market Forecast and Opportunity Analysis


One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential of the medical robotics market, over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market evolution during the forecast period 2024-2035.

The market report also features the likely distribution of the current and forecasted opportunity for developers in the market across various segments, such as type of medical robot (surgical robots and rehabilitation robots), offering of surgical robot developers (instruments / accessories, surgical robotics system and services), deployment model (on-premise and cloud / remote), type of surgical procedure supported (general surgery, orthopedic surgery, abdominal and pelvic surgery, urologic surgery and other surgeries), body part covered (lower body, upper body and full body), mode of operation (powered and hybrid), form of exoskeleton (rigid and soft), mobility (mobile and fixed / supported), application area (therapies / treatment and diagnostics), end user (hospitals, surgery centers, diagnostic labs and other end users) and key geographical regions (North America, Europe, Asia-Pacific, and rest of the world).

In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.

The opinions and insights presented in the market report were influenced by discussions held with stakeholders in this industry. The report features detailed transcripts of interviews held with the following industry stakeholders:

  • Co-Founder and Chief Executive Officer, Small Company, Spain
  • Vice President of Sales and Marketing, Small Company, USA
  • Marketing and Design Manager, Small Company, Canada
  • Founder and Director, Small Company, India

Further, all actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

Medical Robotics Market Key Segments

Market Share by Type of Medical Robot

The global medical robotics market is segmented into different types of medical robots, such as surgical robots and rehabilitation robots. It is worth highlighting that rehabilitation robots are likely to grow at a relatively higher CAGR as compared to surgical robots, during the forecast period.

Surgical Robots Market Segmentation

Market Share by Offerings of Surgical Robot Developers

The global surgical robots market is segmented into different offerings of surgical robot developers, such as instruments / accessories, surgical robotics system and surgical robot related services. It is worth highlighting that services segment is likely to grow at a relatively higher CAGR as compared to other sub-segments, during the forecast period. This can be attributed to the usage of technologically advanced surgical robots (including integration of artificial intelligence and machine learning) that will accentuate the need for extensive training of the surgeons and maintenance service of such robots.

Market Share by Deployment Model

The global surgical robots market is segmented into different deployment models, such as on-premise models and remote / cloud models. Presently, the market is dominated by the surgical robots that can be used on-premises. However, remote / cloud models are likely to grow at a relatively higher CAGR as compared to on-premise models, during the forecast period. This can be attributed to the advantages of conducting a remote surgery by the surgeons which aid in overcoming the geographical barriers for the patients across the globe, which were otherwise difficult to attain.

Market Share by Type of Surgical Procedure Supported

The global surgical robots market is segmented into different type of surgical procedure supported, such as general surgery, orthopedic surgery, abdominal and pelvic surgery, urologic surgery and other surgeries. Among these segments, orthopedic surgery segment is likely to grow at a higher CAGR as compared to other types of surgical procedures in the coming years. This can be attributed to shift in focus of companies to change their business model to form an open system (wherein the customers are not bound to purchase the implants / other accessories from the same company) and to develop orthopedic surgical robots that occupy less workspace (as compared to the conventional surgical robots).

Market Share by Application Area

The global surgical robots market is segmented into different application areas, such as therapies / treatment and diagnostics. It is worth highlighting that surgical robots market for diagnostics is likely to grow at a relatively higher CAGR during the forecast period.

Market Share by End User

The global surgical robots market is segmented into different end users, such as hospitals, surgery centers and diagnostic labs. Presently, the market is dominated by revenues generated from hospitals. This can be attributed to relatively higher adoption by the surgeons in the hospitals owing to various factors, such as reduced operating time, increased number of surgeries per day and achievement of better accuracy and precision during the surgery.

Market Share by Key Geographical Regions

The global surgical robots market is segmented into different geographies, such as North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. According to our projections, North America is estimated to capture the majority share of the overall market, and this trend is unlikely to change in the future as well. However, the surgical robots market in Asia Pacific is expected to grow at a relatively higher CAGR, during the forecast period, 2024-2035.

Rehabilitation Robots Market Segmentation

Market Share by Body Part Covered

The global rehabilitation robots market is segmented into different body parts covered, such as lower body, upper body and full body. It is worth highlighting that lower body exoskeletons dominate the rehabilitation robots market, and this trend is unlikely to change in the future as well.

Market Share by Mode of Operation

The global rehabilitation robots market is segmented into different modes of operation, such as powered and hybrid. Currently, the powered rehabilitation robots are majorly driving the rehabilitation robots market. It is worth mentioning that powered robots higher revenue due to their higher average prices, in comparison to hybrid robots (that can operate in both powered and passive mode).

Market Share by Form of Exoskeleton

The global rehabilitation robots market is segmented into different forms of exoskeleton, such as rigid and soft. Currently, the majority of the revenues within the rehabilitation robots market are being driven from the sales of rigid exoskeletons. However, the market for soft exoskeletons is anticipated to grow at a higher CAGR, during the forecast period.

Market Share by Mobility

The global rehabilitation robots market is segmented into different mobilities, such as mobile and fixed / supported. Presently, the market is dominated by revenues generated from mobile exoskeletons. This can be attributed to the better accessibility and potential of mobile exoskeletons for use in home settings, thereby, providing continuous support and assistance to users outside of the clinical environment.

Market Share by End User

The global rehabilitation robots market is segmented into different end users, such as patients and healthcare professionals. It is worth highlighting that rehabilitation robots market for healthcare professionals is likely to grow at a relatively higher CAGR during the forecast period.

Market Share by Key Geographical Regions

The global rehabilitation robots market is segmented into different geographies, such as North America, Europe, Asia-Pacific and rest of the world. According to our projections, North America is estimated to capture the majority share of the overall market, and this trend is unlikely to change in the future as well. However, the surgical robots market in Asia Pacific is expected to grow at a relatively higher CAGR, during the forecast period, 2024-2035.

Medical Robotics Market Key Insights

The “Medical Robotics Market: Industry Trends and Global Forecasts, till 2035 - Distribution by Type of Medical Robot (Surgical Robots and Rehabilitation Robots), Offerings of Surgical Robot Developers (Instruments / Accessories, Surgical Robotics System and Services), Deployment Model (On-Premise and Cloud / Remote), Type of Surgical Procedure Supported (General Surgery, Orthopedic Surgery, Abdominal and Pelvic Surgery, Urologic Surgery and Other Surgeries), Body Part Covered (Lower Body, Upper Body and Full Body), Mode of Operation (Powered and Hybrid), Form of Exoskeleton (Rigid and Soft), Mobility (Mobile and Fixed / Supported), Application Area (Therapies / Treatment and Diagnostics), End User (Hospitals, Surgery Centers, Diagnostic Labs and Other End Users) and Key Geographical Regions (North America, Europe, Asia-Pacific, and Rest of the World)” report features an extensive study of the current market landscape, market size and future opportunities associated with the medical robotics industry, during the given forecast period. Further, the medical robotics market report highlights the efforts of several stakeholders in this rapidly emerging segment of the healthcare industry. Key takeaways of the medical robotics market analysis are briefly discussed below.

Market Drivers: Advantages Offered by Medical Robots Developers to Drive the Adoption of their Robots

Surgical robots have emerged as a transformative solution within the healthcare sector that enable surgeons to carry out minimal invasive surgeries and offer a multitude of advantages, including unparallel precision, enhanced accuracy, reduced patient trauma and shorter recovery time.

Further, rehabilitation robots (also known as medical exoskeletons) allow to restore movement in individuals with motor impairments, as well as augment performance in able bodied users. The device uses sensors and actuation technologies (motors, pneumatics, levers, or hydraulics) to restore locomotion of the upper extremity and / or lower extremity. As the number of incidences of mobility disorders, such as stroke and spinal cord injuries increase, the assistance offered by rehabilitation robots will prove useful.

Additionally, the demand for care robots is expected to increase with rise in elderly population and shortage of workforce. As per the report published by the United Nations, the population aged more than 65 years is expected to rise from 761 million in 2021 to 1.6 billion by 2050. Further, these robots have helped to improve the quality of patient care and reduce the workload on healthcare workers. Additionally, these assistive robotic systems find applications across various verticals, such as entertainment, household works, education, food services, medical and welfare, and search and rescue. All these advantages will ensure medical robotics market growth over the forecast period.

Market Restraints: High Cost and Reimbursement Issues to Pose Challenges

The usage of rehabilitation robot / exoskeletons as a standard of care option is fraught with several challenges. Exoskeleton technology can be expensive, limiting its accessibility to a broader range of users, especially individuals and healthcare facilities with budget constraints. Further, the insurance coverage for exoskeletons is not uniform across different regions or providers. Some insurance plans may cover the cost partially or fully, while others may provide no coverage at all. This lack of established reimbursement models for exoskeletons can be a deterrent for both the patents and healthcare professionals. Without clear guidelines, the financial burden often falls on individuals or institutions.

Further,  Changes in the US healthcare system may have adverse effects on business operations, potentially impacting the ability to sell products profitably. For instance, the Patient Protection and Affordable Care Act (ACA) was enacted into law in 2010, with the goal of restructuring the U.S. healthcare system. The ACA entails reductions in Medicare and Medicaid payments to hospitals, clinical laboratories, and pharmaceutical companies, which could lead to a decrease in the volume of medical procedures. These factors, in turn, can result in reduced product demand and increased downward pressure on pricing. Since its enactment, there have been various legal, administrative, executive, and legislative challenges to specific aspects of the ACA, and more challenges are anticipated in the future. Since these factors pose a hindrance to the market’s growth potential, businesses operating within this industry are required to continually overcome these limiting factors.

Market Opportunities: Technological Advancements Offer Several Opportunities for Medical Robotics Companies

In order to develop autonomous medical robots conferring better accuracy and efficiency, the robotics companies are extensively working towards advancements in robotic technologies, artificial intelligence, machine learning, data analytics and medical imaging software.

Moreover, the surgical robots are increasingly integrating with artificial intelligence, which allows to streamline the surgical procedures wherein AI-assisted robots aid in identification of anomalies in medical imaging, reduction of scars / incisions and likelihood of human errors, and enhancement of decision-making capabilities of surgeons. Lately, the integration of wireless networking system with robotic technology has led to the emergence of telesurgery (remote surgery) wherein the surgeons assist surgery remotely through tele-operated surgical robotic systems. As such, technological developments will continue to offer growth opportunities for medical robotics companies.

Surgical Robots Market Segment Analysis: Increasing Demand for Minimally Invasive Surgeries Has Led to Increased Adoption of Surgical robots

The ability of surgical robots to transform the healthcare industry with seamless medical surgeries has facilitated their adoption by various surgeons in hospitals, worldwide. These robot-assisted surgeries have helped the surgeons and patients in achieving optimal outcomes (reduced scarring, decreased blood loss and shorter hospital stays). Lately, there has been a significant rise in the number of CE mark approvals of surgical robots and associated robot technologies. Some of the recent approvals have been mentioned below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analyses.

  • In September 2023, Quantum Surgical announced that the European Union (EU) has granted CE mark approval to Epione® robotic platform for the treatment of lung cancer.
  • In September 2023, Moon Surgical announced that the EU has granted CE mark approval to the latest version of Maestro system. The initial version of the Maestro system was approved by the EMA in April 2023.

Rehabilitation Robots Market Segment Analysis: Efforts to Increase the Market Adoption

In order to accelerate the adoption of rehabilitation robots, industry and non-industry stakeholders have undertaken several initiatives, such as offering diverse purchasing choices (subscription models, leasing or outright product purchase) and providing financing and reimbursement options. Furthermore, a rise in government initiatives and policies have also forged rehabilitation robots companies to propel the growth of the medical robotics market. For instance, Department of Veterans Affairs, US collaborated with ReWalk Robotics to establish a national policy aimed at offering exoskeletons to all eligible veterans with spinal cord injuries. Additionally, the companies focused on developing rehabilitation robot  have been actively seeking support for their research and development endeavors through various government funding programs, such as the Mind, Machine and Motor Nexus (M3X) program and MSDs Pilot Grant 1.0.

Moreover, startups in this field are relying on online crowdfunding platforms (say, Kickstarter) wherein the contributions and pre-orders from individual backers help these startups to transition from prototype stages to market-ready products. These companies are also focusing on increasing awareness within the patients and healthcare providers. This is evident from their participation in various conferences, such as ExoBerlin, WearRAcon, and ErgoX, as well as competitive events (CYBATHLON Exoskeleton Race and Exo Games). This proactive approach not only allows them to showcase their technological advancements but also extends their product reach on a global scale.

Care Robots Market Segment Analysis: Changing Dynamics of Elderly Care Through Social Robots

Care robots / socially assistive robots represent a type of therapeutic robots that are designed to operate partly (assistive robots) or work autonomously (without any human intervention) in order to provide assistance to the geriatric population and people with mobility impairment. These social robots offer quality care to patients through automation of routine tasks (medication reminders), monitoring their health, offering cognitive stimulation and physical support, thereby reducing the burden on the healthcare staff and caregivers. Moreover, care robots can improve the accuracy of medical data collection, aid in precise diagnostics and treatment planning.

Market Trends: Partnerships and Collaborations on the Rise in Medical Robotics Market

In recent years, industry stakeholders have established several partnerships in order to consolidate their presence in the medical robotics domain. It is worth highlighting that, majority of the deals (14%) signed in the surgical robot market space (since 2019) were acquisitions, indicating that the stakeholders are actively engaged in expanding their technological portfolio and geographical footprint by acquiring other players in the industry. For instance, in September 2023, Shanghai MicroPort MedBot entered into an agreement with West China Hospital, Sichuan University and Tibet People’s Hospital to launch Project of Sichuan-Tibet Connection - 5G Remote Surgery Experiment on Plateau.

Further, in rehabilitation robot market, nearly 65% of deals were forged in the last three years (since 2021). Interestingly, most of the agreements inked in this domain (since 2017) were distribution agreements (28%), followed by product / technology development agreements (15%). In July 2023, Wandercraft entered into an agreement with Brazilian Health authority to provide its two Atalante X exoskeletons at Lucy Montoro, a Brazilian neurological rehabilitation institution to support patient rehabilitation and medical research  Earlier, in June 2023, Trexo Robotics had entered into a commercialization agreement with Keystone Education Group to use their Trexo Robotic Gait Trainer exoskeleton for children with autism spectrum disorder.

Competitive Landscape: Top Healthcare Companies Developing Medical Robots

Examples of top market players that are focused on developing surgical robots (which have also been profiled in this market report; in alphabetical order) include Abbott, Intuitive Surgical, Johnson & Johnson, Medtronic, Renishaw, Siemens Healthineers, Smith+Nephew, Stryker and Zimmer Biotech, while the examples of top market players that are engaged in developing rehabilitation robots (which have also been captured in this market report, in alphabetical order) include CYBERDYNE, Ekso Bionics, ExoAtlet, Fourier Intelligence, Gloreha, Guangzhou Yikang, Hexar Humancare, Hocoma, Panasonic and Tyromotion. This market report includes an easily searchable excel database of all the surgical robot companies and rehabilitation robot companies worldwide.

Recent Developments in Medical Robotics Market

Recent advancements in robotic technology with the integration of modern tools, have paved way for remarkable innovations in the medical robotics industry. Surgical robots and rehabilitation robots have emerged as breakthrough systems for minimal invasive surgeries and mobility rehabilitation in individuals, respectively. It is worth mentioning that medical exoskeleton can translate the user’s body movements to activate motors to move the patients’ limbs through a predetermined pattern. With an increase in number of patients which require laparoscopic surgeries and those requiring assistance due to spinal cord injuries and strokes, medical robots (surgical and rehabilitation robots) have garnered considerable attention of various surgeons and healthcare workers in the healthcare industry.

Medical Robotics Market Report Coverage

The medical robotics market research report presents an in-depth analysis, highlighting the capabilities of various stakeholders in this market, across different segments. Amongst other elements, the report includes:

  • A preface providing an introduction to the full report, Medical Robotics Market: Industry Trends and Global Forecasts, till 2035.
Medical Robotics Market, Surgical Robot List Medical Robotics Market, Distribution by End User Medical Robotics Market, Rehabilitation Robot List

 

  • An outline of the systematic research methodology adopted to conduct the study on medical robotics market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
  • An overview of economic factors that impact the overall medical robotics market, including historical trends, currency fluctuation, foreign exchange impact, recession and inflation measurement.
  • An executive summary of the insights captured during our research. It offers a high-level view on the current state of the global medical robotics market and its likely evolution in the mid to long term.
  • A general overview of medical robots, including a brief discussion on their evolution over the years. It also includes information on the applications of robots in healthcare and the various types of medical robots. Further, it discusses the various advantages and challenges associated with the use of these robots in surgical procedures. 
  • A detailed assessment of the current market landscape of companies engaged in the development of surgical robots based on several relevant parameters, such as year of establishment, company size (in terms of number of employees), location of headquarters, surgical robots offered, stage of development of surgical robots (approved and under development), technologies / software used, deployment model (on-premise and cloud / remote), type of surgical procedure supported (general surgery, abdominal and pelvic surgery, orthopedic surgery, urologic surgery, neurosurgery, spine surgery, cardiac surgery, dental surgery, ophthalmic surgery and other surgeries), application area (therapy / treatment and diagnostics), end user (hospitals, surgery centers, diagnostic labs and other end users) and additional offerings (instruments / accessories and services).
  • An overview of the current market landscape of rehabilitation robots based on relevant parameters, such as status of development (commercialized and under development), body part covered (upper extremity, lower extremity and full body), mode of operation (powered and hybrid), form of exoskeleton (rigid and soft exosuit), device mobility (mobile and fixed site / stationary), user-machine interface (no interface, app based, handheld controller, on-device buttons / control panels and brain control), advanced features of exoskeleton (data capture / quantifiable motion metrics, gamification and customized assistance), end users (patients, medical professionals and researchers), patient age group (pediatric – adolescent, and adolescent – elderly), exoskeleton setting for patients (at home / community, and rehabilitation centers) and grant of breakthrough device designation.

It also includes information on exoskeleton technology / software, maximum weight of exoskeleton, maximum weight carrying capacity and exoskeleton dimensions. Furthermore, the chapter presents a list of players engaged in the development / commercialization of medical exoskeletons, along with information on their year of establishment, company size, location of headquarters, company ownership and additional services offered. Further, it also highlights the most active companies (in terms of number of rehabilitation robots offered) in the rehabilitation robots market.

Medical Robotics Market, Distribution by Mode of Operation Medical Robotics Market, Emerging Players Medical Robotics Market, Blue Ocean Strategy

 

  • An insightful competitiveness analysis of surgical robot developers based on developer strength (in terms of the years of experience of the developer) and portfolio strength (in terms of number of surgical robots offered, number of technologies / software used, deployment model, AI-integration, number of surgical procedures supported, application area, end user and additional offerings).
  • An insightful product competitiveness analysis of rehabilitation robots, based on supplier strength (based on years of experience, company size and number of exoskeleton offered), product competitiveness (in terms of device mobility, form of exoskeleton, mode of operation, advanced features of exoskeleton, user-machine interface breakthrough designation, status of development and additional services offered).
  • Elaborate profiles of the prominent surgical robot companies (shortlisted based on a proprietary criterion) engaged in developing surgical robots. Each profile features a brief overview of the company, details related to its financial information (if available), surgical robot portfolio, recent developments and an informed future outlook. Further, the chapter also includes profiles of other leading players developing surgical robots. 
  • Detailed profiles of key rehabilitation robot companies (shortlisted based on the number and application area of wearable exoskeletons in their product portfolio) engaged in developing wearable exoskeletons. Each profile features a brief overview of the company, details related to its financial information (if available), product portfolio, recent developments and an informed future outlook. Further, the chapter also includes profiles of other leading players developing rehabilitation robots.
  • A detailed analysis of the partnerships inked between stakeholders in surgical robotics domain, since 2018, covering technology licensing agreements, research and development agreements, technology integration agreements, mergers and acquisitions, product development agreements and other relevant agreements.
  • A detailed analysis of the partnerships inked between stakeholders in rehabilitation robotics domain, since 2017, covering distribution agreements, technology / product development agreements, licensing agreements, service agreements, joint ventures and other relevant agreements.
  • A detailed analysis of funding and investments made into the companies developing surgical robots, based on relevant parameters such as year of funding, type of funding, amount invested, regional distribution, most active players (in terms of number of funding instances and amount raised) and most active investors (in terms of number of funding instances).
  • A detailed analysis of the current and future market based on blue ocean strategy for rehabilitation robot companies, covering a strategic plan / guide for emerging rehabilitation robot companies to help unlock an uncontested market, featuring thirteen strategic tools that can help to shift towards blue ocean to gain a competitive edge in the market.
  • A general overview of care robots, with a focus on their key applications. It also provides a list of the players that are engaged in the development of care robots for improved quality of care and patient outcomes.
  • An in-depth analysis of the factors that can impact the growth of medical robotics market, including key drivers, potential restraints, emerging opportunities, and existing challenges.
  • A detailed projections of the current and future opportunity in the medical robotics market, during the forecasted period (2024-2035). The report also features the likely distribution of the current and forecasted opportunity within the medical robotics market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
  • A detailed projections of the current and future opportunity in the surgical robots market, during the forecasted period (2024-2035). The report also features the likely distribution of the current and forecasted opportunity within the surgical robots market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
  • A detailed projection of the current and future surgical robots market across different offerings of developers such as instruments / accessories, surgical robotics system and services.
  • A detailed projection of the current and future surgical robots market across different deployment models such as on-premises models and remote / cloud models.
  • A detailed projection of the current and future surgical robots market across different surgical procedures supported such as general surgery, orthopedic surgery, abdominal and pelvic surgery, urologic surgeriy and other surgery.
  • A detailed projection of the current and future surgical robots market across different application areas such as therapies / treatment and diagnostics.
  • A detailed projection of the current and future surgical robots market across different end users such as hospital, surgery centers and diagnostic labs.
  • A detailed projection of the current and future surgical robots market across key geographical regions such as North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America.
  • A detailed projection of the current and future opportunity in the rehabilitation robots market, during the forecasted period (2024-2035). The report also features the likely distribution of the current and forecasted opportunity within the rehabilitation robots market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
  • A detailed projection of the current and future rehabilitation robots market across different body part covered such as lower body, upper body and full body.
  • A detailed projection of the current and future rehabilitation robots market across different mode of operation such as powered and hybrid exoskeletons.
  • A detailed projection of the current and future rehabilitation robots market across different mobilities such as mobile and fixed / supported exoskeletons.
  • A detailed projection of the current and future rehabilitation robots market across different forms such as rigid and soft exoskeletons.
  • A detailed projection of the current and future rehabilitation robots market across different end users such as patients and healthcare providers.
  • A detailed projection of the current and future rehabilitation robots market across key geographical regions such as North America, Europe, Asia-Pacific and rest of the world.

 

Medical Robotics Market, Distribution by Type of Medical Robot Medical Robotics Market, Distribution by Key Geographical Regions Medical Robotics Market, Distribution by Form


Recent Developments in The Medical Robotics Market

Several developments have taken place in the field of medical robots. Some of these recent initiatives have been outlined below. These developments, even though they took place post the release of our market report, substantiate the overall market trends that we have outlined in our analyses.

  • In September 2023, CMR Surgical raised an amount of USD 165 million in a venture series in order to support the commercialization of next-generation Versius® surgical robotic system.
  • In August 2023, Titan Medical announced a strategic collaboration with Auris Health (a subsidiary of Johnson & Johnson) in order to license its intellectual property to the latter company.
  • In August 2023, ReWalk Robotics announced the definitive agreement to acquire AlterG in order to expand existing portfolio of neurorehabilitation products at closing amount of USD 19 million.
  • In December 2022, Ekso Bionics announced the acquisition of the Human Motion and Control  Business Unit from Parker Hannifin in order to expands its product at home use.

Author(s): Prachi Bhalla, Rupanshi Sharma, Simriti Gupta

Frequently Asked Questions

Question 1: How big is the medical robotics market?

Answer: The global medical robotics market is estimated to be worth $ 10.1 billion in 2024.

Question 2: What is the projected medical robotics market size in 2035?

Answer: The global medical robotics market is projected to be worth $ 31.3 billion in 2035.

Question 3: What is the CAGR of medical robotics market?

Answer: The global medical robotics market is anticipated to grow at a CAGR of 10.8% during the forecast period.

Question 4: Which region captures the largest share in the medical robotics market?

Answer: Presently, the medical robotics market is dominated by North America, capturing around 70% of the overall market size.

Question 5: What is the outlook for medical robotics?

Answer: Based on the type of medical robots, the surgical robots market in 2024 holds the majority of the share, as compared to the rehabilitation robots market. This trend is unlikely to change in the future.

Question 6: What are medical robots?

Answer: Medical robots refer to the medical devices that aid medical professionals in dexterously carrying out several tasks with minimal human intervention, such as performing interventional surgical procedures, providing physical assistance to patients, carrying out mundane tasks at the hospitals and their utilization for rehabilitation and diagnostic purposes.

Question 7: What are the different types of medical robots?

Answer: There are primarily three types of medical robots that are gaining adoption in the healthcare industry in order to support the surgeons, healthcare workers and patients. These are surgical robots, rehabilitation robots and care robots (also known as social robots).

Question 8: What is the most popular medical robot?

Answer: Amongst all the medical robots, surgical robots are popular in the healthcare domain as they are extensively used in conducting minimally invasive surgeries for complex surgical procedures.

Question 9: What are the factors driving the rehabilitation robots market?

Answer: Rising patients with stroke and spinal cord injuries, coupled with the breakthroughs in rehabilitation / exoskeleton technology and significant investments in research and development, will lead to a significant growth in the rehabilitation robots’ market, during the forecast period.

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