Hospital Robots Global Market Report 2024

“Hospital Robots Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hospital robots market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for hospital robots? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hospital robots market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Autonomous Mobile Robots; Disinfecting or Sterilization Robots; Laboratory Robots; Pharmacy Robots
• 2) By Deployment: Laparoscopy; Pharmacy Applications; Orthopedic Surgery; External Beam Radiation Therapy; Physical Rehabilitation; Neurosurgery; Other Deployments
• 3) By End User: Hospitals; Ambulatory Surgery Centers; Rehabilitation Centers; Other End Users
• Companies Mentioned: McKesson Corporation; Johnson and Johnson; Siemens Healthineers; Yujin Robot; Medtronic Plc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Hospital robots, also known as medical robots, are essential tools in the healthcare industry, designed to aid healthcare professionals and enhance patient care within hospital and healthcare settings. These robots serve various functions, including assisting in surgical procedures, conducting mobile tasks, automating pharmacy operations, enabling telepresence and remote caregiving, participating in disinfection routines, enhancing blood drawing processes, supporting rehabilitation efforts, and assisting with administrative responsibilities.

The primary product categories for hospital robots encompass autonomous mobile robots, disinfecting or sterilization robots, laboratory robots, and pharmacy robots. Autonomous mobile robots (AMRs) are robotic systems capable of autonomously performing tasks and navigating through their environment with minimal human intervention. They find deployment across a wide range of medical applications, including laparoscopy, pharmacy operations, orthopedic surgery, external beam radiation therapy, physical rehabilitation, neurosurgery, and others. Hospital robots are utilized by a diverse array of end-users, including hospitals, ambulatory surgery centers, rehabilitation centers, and various healthcare facilities.

The hospital robots market research report is one of a series of new reports from The Business Research Company that provides hospital robots market statistics, including hospital robots industry global market size, regional shares, competitors with a hospital robots market share, detailed hospital robots market segments, market trends and opportunities and any further data you may need to thrive in the hospital robots industry. This hospital robots market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hospital robots market size has grown rapidly in recent years. It will grow from $1.75 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to shortage of healthcare professionals, increasing elderly population, rising demand for minimally invasive surgery, demand for patient safety,.

The hospital robots market size is expected to see rapid growth in the next few years. It will grow to $3.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to telemedicine growth, government initiatives, growing demand for rehabilitation robots, increasing demand for surgical robots, growing demand for image-guided surgery, growing awareness of the benefits of hospital robots. Major trends in the forecast period include advancements in artificial intelligence (AI) and machine learning (ML), adoption of 5G technology, ai-driven personalized healthcare, robotics process automation (RPA), iot integration, robotic sterilization and cleaning, patient data security.

The hospital robot market is anticipated to experience growth driven by the increasing adoption of healthcare automation. Healthcare automation involves the utilization of technology and software to streamline and enhance various processes within the healthcare sector. Hospital robots play a pivotal role in healthcare automation by assisting surgeons in minimally invasive procedures within operating rooms. For instance, as of May 2021, findings from a survey conducted by The Healthcare Financial Management Association, a US-based healthcare association, revealed a notable surge in the deployment of automation technologies in hospitals. The survey included responses from 112 provider chief financial officers and financial and revenue cycle executives. It indicated that the adoption of automation technologies in hospitals had tripled from 2020 to 2021, with 50% of hospitals implementing automation technologies in 2021, compared to just 15% in 2020. This significant increase in healthcare automation is a key driver behind the growth of the hospital robot market.

The growth of the hospital robots market in the foreseeable future is expected to be propelled by the increasing number of surgical procedures. These procedures encompass a wide range of medical interventions conducted with precision and care within the controlled environment of an operating room. Hospital robots are finding increased utilization across various surgical specialties, including plastic and reconstructive surgeries, where they play a crucial role in enhancing precision and accuracy. This, in turn, leads to improved surgical outcomes, ultimately benefiting patients. For instance, in April 2022, data from the Aesthetic Society, a prominent organization representing approximately 2,600 plastic surgeons globally, indicated a remarkable 54% increase in the number of surgical procedures performed in 2021 compared to the preceding year, 2020. Furthermore, the average plastic surgeon conducted 320 surgical procedures in 2021, a substantial rise from the 220 procedures performed in 2020. As a result, the growing number of surgical procedures performed is a key driver behind the hospital robots market's expansion.

The potential semiconductor shortage is anticipated to impede the growth of the hospital robots market in the coming years. Semiconductor shortages can result in delays in the manufacturing of robots and other technology reliant on semiconductors, potentially affecting the production and advancement of new hospital robots. For instance, in 2021, ABB, a Switzerland-based manufacturer of industrial robots, was compelled to revise its sales outlook for the year downward due to semiconductor shortages. This scarcity hindered the company's ability to meet customer demand, especially when trying to boost output after the significant decline in activity caused by the pandemic. Consequently, the semiconductor shortage is poised to have a detrimental effect on the market's growth.

Prominent companies in the hospital robot market are increasingly concentrating on the introduction of hospital delivery robots equipped with elevator technology as a strategy to enhance their market revenues. Elevator technology is a critical component integrated into hospital robots to facilitate efficient and swift movement between different floors within a healthcare facility. As an illustration, in June 2023, Relay Robotics Inc., a US-based provider of robotics solutions, unveiled RelayRx for healthcare. RelayRx represents a hospital delivery robot designed to address the challenges posed by nursing shortages. These robots are instrumental in transporting essential hospital supplies, including test specimens, medications, and equipment. They ensure secure navigation through congested hospital environments while enhancing their navigational capabilities and incorporating security features for maintaining the chain of custody. Utilizing Relay's proprietary elevator technology, these robots can seamlessly traverse a hospital, connecting various areas such as the pharmacy and blood bank to patient rooms in an average time of seven minutes. This technological advancement marks a significant development in the hospital robot market.

In July 2022, Becton, Dickinson and Company (BD), a US-based medical technology company known for its healthcare robots, completed the acquisition of Parata Systems LLC for an undisclosed sum. This strategic move by BD is aimed at broadening its capabilities in team integration to promote future growth and innovation. The acquisition is intended to address pressing issues within the healthcare sector, including the shortage of clinicians, rising labor costs, the centralization of pharmacy services, and the increased clinical demands placed on pharmacy professionals. Parata Systems LLC, based in the United States, is a company specializing in pharmacy automation solutions.

Major players in the hospital robots market are McKesson Corporation, Johnson and Johnson, Siemens Healthineers, Yujin Robot, Medtronic PLC, ABB Group, Aethon, Becton Dickinson and Company, Stryker Healthcare, Zimmer Biomet Robotics, Intuitive Surgical Inc., KUKA, Omnicell Inc., iRobot Corporation, Globus Medical, Renishaw PLC, Auris Health Inc., Blue Ocean Robotics, PAL Robotics, SoftBank Robotics, Stereotaxis Inc., Verb Surgical Inc., Cyberdyne Inc., Mazor Robotics, Medrobotics Corporation .

North America was the largest region in the hospital robots market in 2023. The regions covered in hospital robots report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the hospital robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hospital robot market consists of sales of surgical assist robots, care robots, telepresence robots and telemedicine robots. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.