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The global healthcare robotics market size was valued at USD 12.65 billion in 2023, driven by the increasing number of robot-assisted surgeries across the globe. The market size is anticipated to grow at a CAGR of 17.1% during the forecast period of 2024-2032 to achieve a value of USD 52.36 billion by 2032.
Healthcare has been advancing globally and is reaching new heights in terms of the technical advancement. Introducing advanced technologies, such as artificial intelligence, machine learning, augmented reality, and virtual reality in healthcare, has revolutionized the healthcare sector. These technologies are able to generate and develop robotic systems which are useful in healthcare facilities. Such technologies are known as healthcare robotics. There are multiple robotic models that are present in the healthcare facilities, including surgical robots that are able to perform complex surgeries as well.
The increasing demand of surgical robots in the market is due to the benefits that comes with the use of surgical robots in a surgery. These robots can perform minimally invasive surgeries which leads to faster recovery of the patient. Robots are also less likely to make errors, which can risk the life of the patient. The rapidly increasing integration of highly advanced technologies in development of surgical tools and equipment as artificial intelligence, machine learning, augmented reality, and virtual reality, is a key factor which is aiding the healthcare robotics market growth.
Additionally, introducing robots that can take care of older people while taking care of their medicinal needs and general needs as well is also anticipated to propel its demand in the coming years. With artificial intelligence making a strong hold in a market, the demand for robotics is also anticipated to rise rapidly over the forecast period.
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The increased use of robots in surgical procedures and especially minimally invasive procedures is one of the key factors which is propelling the growth of the market. The increased use of robots that are collaborative, which means they work with the healthcare professional simultaneously under the supervision along with assisting the healthcare professional, is also likely to provide a significant impetus to the healthcare robotics market development. The increasing demand for robotic assistance for people with special needs or disabilities has been directly supporting the growth of the market.
Medical facilities that have comparatively high budgets and advanced facilities are now introducing robot assistance in their workplace to keep track of inventories and multiple other tasks and formalities that are performed at a healthcare facility. This robotic assistance can be seen in developed countries that are continuously working towards advancing their healthcare facilities and provide treatment and overall experience to a patient.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 12.65 billion in 2023, driven by the rising demand for advance technology in healthcare sector.
The market is anticipated to grow at a CAGR of 17.1% during the forecast period of 2024-2032 and reach a market value of USD 52.36 billion by 2032.
The rapid technological advancements, rising investment and funding in the healthcare sector, and the increasing number of minimally invasive surgeries across the globe are among the key factors responsible for the rising demand.
The major regional markets include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The different types in the market are surgical and non-surgical.
The different types of products in the market are Da Vinci, Mako system, Sensei X Robotics System, The CorPath System, and Cyber Knife, among others.
The different applications in the market are general surgery, gynaecology, urology surgery, colorectal surgery, and orthopaedic, among others.
The key end-users in the market include hospitals and clinics, and rehabilitation centres, among others.
Key players involved in the market are Accuray Inc., Aethon, Inc., Ekso Bionics Holdings Inc., Hansen Medical Inc., Intuitive Surgical Inc., Johnson & Johnson, Medrobotics, Corporation, Microbot Medical, Inc., Rewalk Robotics, Smith & Nephew plc., Stryker Corporation, Titan Medical Inc., TransEnterix, Inc., Varian Medical Systems Inc., and Zimmer Biomet.
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