Trouble in Your Tank: Implementing Direct Metallization in Advanced Substrate Packaging
It’s Only Common Sense: Storytelling That Sells—Stop Pitching, Start Painting Pictures
The Right Approach: Get Ready for ISO 9001 Version 6
Medical Robots Market Worth $16.74B by 2023
July 31, 2018 | PRNewswireEstimated reading time: 2 minutes
The medical robots market is projected to reach $16.74 billion by 2023 from an estimated $6.46 billion in 2018, at a CAGR of 21.0%.
Growth in this market can primarily be attributed to factors such as the advantages offered by robot-assisted training in rehabilitation therapy, increase in funding for medical robot research, technological advancements in medical robots, and the issuance of IPOs by medical robot companies.
The therapeutic robotic systems segment is expected to grow at the highest CAGR during the forecast period.
On the basis of product, the medical robots market is segmented into instruments & accessories and robotic systems. The robotic systems segment has been further segmented into surgical robotic systems, rehabilitation robotic systems, noninvasive radiosurgery robotic systems, and hospital and pharmacy robotic systems. The rehabilitation robotic systems segment is further bifurcated into therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems, and other rehabilitation robots. The therapeutic robotic systems segment is projected to grow at the highest CAGR during the forecast period. Growth in this segment is largely due to the technological innovations such as voice recognition, adaptive programming, improved sensors, and cloud technology that are being integrated into these robotic systems to increase their efficiency and utility.
The neurosurgery segment is expected to be the fastest growing application segment during the forecast period.
On the basis of application, the Medical Robots Market has been segmented into laparoscopy, neurosurgery, orthopedic surgery, pharmacy applications, and other applications (medical robotic applications in gynecology, urology, cardiology, nanomedicine, and rehabilitation). The neurosurgery application segment is expected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing precision and improved quality of medical robots which have encouraged the use of robots in neurosurgery.
North America to Dominate the Market in 2018
North America is expected to account for the largest share of the Medical Robots Market in 2018, followed by Europe. The large share of this region can be attributed to the increasing adoption of surgical robots by hospitals in the region, favorable funding scenario for research on medical robots, and the availability of technologically advanced medical robots.
Intuitive Surgical (US), Stryker Corporation (US), and Mazor Robotics (Israel) are the key players in the Medical Robots Market. Other players involved in this market include Hocoma (Switzerland), Hansen Medical (US), Accuray (US), Omnicell (US), ARxIUM (Canada), and Ekso Bionics Holdings (US).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Global Interposer Market to Surge Nearly Fivefold by 2034
09/15/2025 | I-Connect007 Editorial TeamRevenue for the global interposer market is projected to climb from $471 million in 2025 to more than $2.3 billion by 2034, according to a new report from Business Research Insights. The growth represents a CAGR of nearly 20 percent over the forecast period.
Indium Promotes Huang to Senior Manager, Marketing Communications
08/28/2025 | Indium CorporationWith its commitment to innovation and growth through employee development, Indium Corporation announces the promotion of Jingya Huang to Senior Manager, Marketing Communications, to continue to lead the company’s branding and promotional efforts.
India’s PC Market Grows 5.7% YoY in 1H25, Shipping 6.8 Million Units
08/22/2025 | IDCIndia’s traditional PC market (desktops, notebooks, and workstations) grew 3.0% year-over-year (YoY) in 2Q25 with 3.5 million units shipments, according to data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. This marks the eighth consecutive quarter of growth.
Ta Yang Group Holdings Limited Announcing AI Transformation Blueprint
08/21/2025 | ACN NewswireTa Yang Group Holdings Limited, a well-established Hong Kong-listed company with nearly two decades of market presence, plans to further advance comprehensively into the Web 4.0 field and artificial intelligence (AI) industry.
Standardized Hinges and Apple’s Entry Expected to Push Foldable Phone Penetration Beyond 3% by 2027
08/19/2025 | TrendForceTrendForce’s latest investigations reveal that the anticipated launch of Apple’s first foldable device in the second half of 2026 is expected to lift foldable phone penetration from 1.6% in 2025 to over 3% in 2027.