LONDON, Dec. 19, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s hospital robots global market report 2024, the hospital robots market has experienced robust growth, advancing from $1.75 billion in 2023 to an anticipated $2 billion in 2024, with a noteworthy compound annual growth rate (CAGR) of 14.2%. This hospital robots market expansion is underpinned by factors such as a scarcity of healthcare professionals, an aging population, a surge in demand for minimally invasive surgeries, and an increased emphasis on patient safety.
Projected Growth
The hospital robots market is projected to sustain its momentum, foreseeing rapid growth to reach $3.42 billion by 2028, with a CAGR of 14.4%. This growth trajectory is attributed to several factors, including the burgeoning field of telemedicine, supportive government initiatives, an increasing demand for rehabilitation and surgical robots, the rise of image-guided surgeries, and a growing awareness of the manifold benefits offered by hospital robots.
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Key Trends Shaping the Future
Anticipated trends in the hospital robots industry include significant advancements in artificial intelligence (AI) and machine learning (ML), the adoption of 5G technology, AI-driven personalized healthcare solutions, robotics process automation (RPA), seamless integration of the Internet of Things (IoT), and innovative approaches to robotic sterilization and cleaning, coupled with an intensified focus on patient data security.
Driving Force: Increasing Surgical Procedures
The upswing in surgical procedures, particularly in areas such as plastic and reconstructive surgeries, is set to be a major driver for the hospital robots market. These robots, renowned for enhancing precision and accuracy, are becoming integral to various surgical specialties. For instance, the Aesthetic Society reported a remarkable 54% increase in surgical procedures in 2021 compared to the previous year, highlighting the growing significance of hospital robots in improving surgical outcomes.
Key Players and Technological Innovations
Major players contributing to the growth of the hospital robots market include McKesson Corporation, Johnson and Johnson, Siemens Healthineers, Intuitive Surgical Inc., and others. Companies are increasingly focused on developing hospital delivery robots equipped with elevator technology. RelayRx by Relay Robotics Inc., launched to address nursing shortages, exemplifies this trend. These robots ensure efficient and secure transportation of hospital supplies between various departments, underscoring their value in optimizing hospital operations.
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Stakeholders in the hospital robots industry can leverage this comprehensive market report to gain strategic insights. By understanding market segments, regional dynamics, and emerging trends, businesses can make informed decisions, identify growth opportunities, and stay ahead of the competition. The hospital robots market report provides a roadmap for industry players to navigate the evolving landscape, capitalize on emerging trends, and contribute to the dynamic growth of the hospital robots market.
Hospital Robots Global Market Report 2024 by The Business Research Company provides insights on the hospital robots market size, hospital robots market segments, hospital robots market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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