Healthcare Robotics Market to Grow at 8.74% CAGR through 2029

Introduction of cost-effective medical robots and growing preference for minimally invasive surgery is expected to drive the Global Healthcare Robotics Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “Healthcare Robotics Market – Global Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2029F”, the Global Healthcare Robotics Market stood at USD 8.08 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 8.74% through 2029F. The Global Healthcare Robotics Market is primarily driven by technological advancements, increasing demand for minimally invasive surgeries, and the rising prevalence of chronic diseases.

With the increasing number of surgical procedures in the geriatric population and a rise in trauma injuries, there is a growing demand for accurate and effective laparoscopic surgeries and medical procedure solutions. Consequently, the field of robot-assisted surgery has expanded rapidly, driven by the growing opportunities for minimally invasive procedures across various surgical domains. As robotic surgery approaches a decade of commercial use, the market is diversifying, offering novel surgical modalities with improved technology, reduced costs, and smaller sizes. Globally, there is a surge in demand for robotic minimally invasive surgeries due to their numerous benefits, including fewer incisions, reduced discomfort, minimal scarring, enhanced safety, and shorter recovery times. These procedures provide surgeons with advanced visualization capabilities through the utilization of high-definition cameras, enabling the depiction of microscopic structures. This results in greater control and accuracy. In recent years, there has been a notable increase in the number of rehabilitation robotics research projects, contributing to the rapid development of therapeutic rehabilitation robots. Technological innovations in cognition, interaction, and manipulation of service robotics are expected to be major factors driving the growth of the global healthcare service robots market during the forecast period. Market players in the healthcare industry are increasingly investing in service robots-based technologies to remain competitive, thus boosting the demand for clinical robots in the field.

The increasing adoption of surgical robots is a significant driver for the growth of the healthcare service market. Robotic surgery enables surgeons to perform complex procedures that would otherwise be challenging or impossible using traditional methods. Every day, new inventions and more advanced models for robotic surgery are being developed, with increased functionality and reduced dimensions facilitated by 3D imaging technology. Online adaptive strategies are employed to enable the system to adjust to the changing environment, and Feedforward Artificial Neural Networks (ANN) are used to develop the offline kinematic model of the robot. The advantages offered by robotic-assisted surgery are driving the growth of the healthcare service market. These advantages include a reduced risk of infection due to smaller incisions, decreased discomfort and pain, shorter hospitalization periods, faster recovery times, and a quicker return to routine activities for patients. However, the growth of the surgical robotics sector is hindered globally by high production costs and a lack of sufficient clinical evidence regarding the efficacy of surgical robotic systems. Nevertheless, rising healthcare expenditure in developing countries and an increase in surgical operations are expected to drive the market during the forecast period.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Healthcare Robotics Market” 

The Global Healthcare Robotics Market is segmented product, application, end user, regional distribution, and company.

Based on product, the market is segmented into surgical robots, telemedicine robots, rehabilitation robots, non-invasive radiosurgery robots, pharmacy and hospital automation robots. Robotic surgery entails the use of robotics to perform minimally invasive surgical procedures. Surgeons operate these robotic systems, which consist of miniaturized surgical instruments mounted on robotic arms, enabling precise surgical interventions. The surgical robots segment is witnessing significant growth, driven by the increasing demand for healthcare automation and the trend towards advanced robotic surgeries. Researchers are developing new strategies, including the adoption of collaborative robots, to address motion and tissue resistance. Collaborative robots play a crucial role in reducing the risk of human contamination during delicate operations in sterile settings. Within the medical robotics field, the surgical robotics segment holds a substantial share. This is attributed to the rising adoption of robotic surgical systems in Tier-1 hospitals, the demand for highly efficient replaceable components, the increasing number of robotic procedures performed worldwide, and the growing need for instruments and accessories due to their recurring use in procedures. The adoption of surgical robots is further driven by their ability to overcome the limitations of conventional laparoscopic and thoracoscopic surgeries. Robotic surgeries enable the completion of intricate and advanced surgical procedures with higher precision and minimal invasiveness. The growing investment in advanced medical devices also contributes to the positive outlook of the market. The market is expected to experience a significant surge in demand for surgical robots. This can be attributed to their increasing utilization in various surgical procedures, such as bariatric surgery, heller myotomy, gastrectomy, hernia repair, cholecystectomy, transoral surgery, and pancreatectomy. There is a rise in the volume of general surgery procedures conducted globally.

Based on Region, Europe emerged as the fastest-growing region in the global Healthcare Robotics Market, fueled by several key factors. Robust technological advancements in robotics, coupled with a growing emphasis on healthcare automation, have propelled market growth. Increasing investment in research and development initiatives by both public and private sectors has bolstered innovation in healthcare robotics within the region. Favorable government policies and initiatives aimed at promoting the adoption of robotics in healthcare settings have provided a conducive environment for market expansion. The rising prevalence of chronic diseases and an aging population have spurred the demand for advanced healthcare solutions, further driving the growth of the healthcare robotics market in Europe. This convergence of technological progress, supportive policies, and evolving healthcare needs positions Europe as a leading hub for healthcare robotics innovation and market growth. 

Major companies operating in Global Healthcare Robotics Market are:

• iRobot Corporation
• Titan Medical Inc.
• Hansen Technologies Ltd
• Renishaw plc
• Intuitive Surgical, Inc.
• Medtronic Plc
• DENSO Products and Services Americas, Inc.
• Accuray Incorporated
• Stryker Corporation
• Varian Medical Systems, Inc.

Download Free Sample Report

Customers can also request for 10% free customization on this report

“The expansion of robot-assisted training in Rehabilitation Therapy is a pivotal catalyst propelling the growth of the market, supported by a confluence of factors including technological advancements, augmented funding for medical robot startups, and escalating demand for minimally invasive surgical procedures. These factors collectively offer avenues for augmenting market expansion and innovation. Technological breakthroughs are anticipated to play a significant role in fueling market growth, with recent advancements in medical robotics showcasing promising trends. Examples include blood nanobots engineered to emulate the functions of white blood cells, thereby bolstering the body's immune response against diseases. The development of melanoma-detecting machines aims to minimize the necessity for frequent biopsies, streamlining diagnostic processes and improving patient outcomes. Innovations like PARO, a medical robot seal designed to assist children with developmental disabilities, highlight the diverse applications of medical robotics in addressing healthcare challenges”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Healthcare Robotics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Surgical Robots, Telemedicine Robots, Rehabilitation Robots, Non-invasive Radiosurgery Robots, Pharmacy and Hospital Automation Robots), By Application (Neurology Applications, Cardiology Applications, Orthopedic Applications, Laparoscopic Applications, Others), By End User (Hospitals, Specialty Clinics, Research Institutes, Ambulatory Surgical Centers, Laboratories, Rehabilitation Centers, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Healthcare Robotics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Healthcare Robotics Market.

Contact

TechSci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

Tel: +1-332-258-6602

Email: [email protected]

Website: www.techsciresearch.com