Medical Robots Market Analysis

The laparoscopic application segment held more than 34% share of the medical robots market in 2022. The recent years have noticed a rising interest and financing for robotic operations owing to its capacity to assist in highly specialized surgical treatments, including laparoscopy. Moreover, in order to increase profits, businesses are striving to make their products available in the booming market, thereby propelling the market expansion. For instance, in January 2022, Shanghai MicroPort MedBot Co., Ltd. announced that its Toumai® Laparoscopic Surgical Robot has been approved for marketing by the National Medical Products Administration, which accelerated the development of robotic surgery in China.
 

Based on product, the medical robots market share from the surgical robots segment is estimated to be worth over USD 31.5 billion by 2032 attributed to the significant precision improvements with AI advancements in motion control. In August 2022, Max Hospital in Mohali, India introduced the 'Da Vinci Xi,' a surgical robot to conduct surgical procedures in gynecology, oncology, urology, general surgery, hernia, and gastrointestinal with enhanced precision, flexibility, and minimal blood loss. Surgical robots also enable surgeons to access body parts that are difficult to reach with high magnification through small incisions, making them less invasive than conventional surgeries, hence influencing industry progress.
 

Regionally, North America medical robots market is likely to account for a valuation of over USD 21.5 billion by 2032 owing to rising advancements in medical robots and the presence of multiple established industry participants in the region. Moreover, hospitals and other healthcare facilities are investing heavily in the integration of robotic technology, adding to the boosted regional revenue. For instance, in May 2022, the American Nurses Foundation granted USD 1.5 million to ChristianaCare, a health system in Philadelphia to deploy five Moxi cobots to make deliveries and handle non-clinical tasks to help nurses and other clinical staff to concentrate more on patients.