Intuitive Surgical, Inc. (US) and Stryker Corporation (US) are Leading Players in the Medical Robots Market
The medical robots market is projected to reach USD 33.8 billion by 2029 from USD 16.0 billion in 2024, at a CAGR of 16.1% from 2024 to 2029. Medical robots are employed in numerous fields—for example, operating medical robots are used to perform certain surgeries. They are also used in rehabilitation therapy and dispensing medicines in hospitals and pharmacies. The major types of medical robots are surgical robots, hospital and pharmacy robots, rehabilitation robots, and noninvasive radiosurgery robots. Surgical robots dominate the overall medical robots market. The growth of this market is driven by the aging population and rising chronic diseases, technological advancements, increasing need for automation in healthcare, improving reimbursement scenarios, and advancements in healthcare funding & infrastructure. However, the high cost of the robotic systems inhibits the market growth.
The Medical robots market is competitive. The major players operating in this market are Intuitive Surgical, Inc. (US), Stryker Corporation (US), Medtronic Plc (US), Smith & Nephew Plc (UK), Zimmer Biomet Holdings, Inc. (US), Aethon (US), and Xenex Disinfection Services Inc. (US), Becton, Dickinson And Company (US), Omnicell, Inc. (US), Arxium (Canada), Asensus Surgical, Inc.(US), Zap Surgical Systems, Inc.(US), Renishaw Plc (UK), Hocoma Ag (Switzerland), Accuray Incorporated (US), Elekta (Sweden), Ekso Bionics Holdings, Inc. (US), Bionik Laboratories Corp. (US), Lifeward, Inc. (Israel), Cyberdyne Inc.(Japan), Avateramedical Gmbh. (Germany),Johnson & Johnson (US), and Swisslog Healthcare (Switzerland), Zoll Medical Corporation (US), and Relay Robotics (US).
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Intuitive Surgical (US)
Intuitive Surgical is a pioneer in surgical robots, offering a comprehensive portfolio of surgical robots, including instruments and services. The company's commitment to innovation is evident in its significant R&D investments, totaling USD 998.8 million in FY 2023, up from USD 879.0 million in FY 2022. These investments drive product enhancements and expanded applications. With approximately 8,606 da Vinci surgical systems installed globally as of December 2023, and over 2,286,000 procedures performed in 2023 alone, Intuitive Surgical maintains a robust market presence. Revenue from instrument and accessory sales, systems, and services reached USD 7,124.1 million, further solidifying its leading position through continuous advancements.
Stryker Corporation (US)
Stryker Corporation is a prominent player in the orthopedic robotic systems industry. Acquiring Mako Surgical Corporation in 2013 allowed Stryker to enter the surgical robots market. Their portfolio was expanded with products like the Mako Total Hip and Mako Partial Knee. In 2023, 74.4% of Stryker's sales came from the US, with international sales making up 25.6%. At the American Academy of Orthopaedic Surgeons (AAOS) 2022 Annual Meeting in Chicago, Stryker launched the Insignia Hip Stem for total hip and hemiarthroplasty procedures, further solidifying its market position. With a significant global installation base, Stryker maintains a strong presence in the US, Canada, Europe, Japan, and other regions across the Pacific and Latin America.
Related Reports:
Medical Robots Market by Product & Service (Instruments & Accessories, Robotic Systems), Type (Surgical (Soft: General, Gynecological, Urological; Hard: Knee & Hip, Spine), Rehab, Radiosurgery, Hospital & Pharmacy), End User - Global Forecasts to 2029
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