Medical Service Robotics - Australia

Revenue in the Medical Service Robotics market is projected to reach US$203.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.98%, resulting in a market volume of US$285.10m by 2029.
In global comparison, most revenue will be generated United States (US$3.27bn in 2024).

Definition:

The Medical Service Robotics market presents the market size of robotics applications in the healthcare industry. These robots provide assistance, support, and automation for medical procedures, diagnostics, rehabilitation, and patient care. It involves the use of robots as medical equipment to enhance patient outcomes, improve efficiency, and assist healthcare professionals in delivering quality care.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Additional information:

The market comprises revenues, volume, and the average price per new installed robot. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Software revenues are included as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Intuitive Surgical, Stryker Corporation, and Medtronic.

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Medical Service Robotics

Logistic Services Robotics
Agriculture Service Robotics
Other Service Robotics

The Medical Service Robotics Market in the Commercial Service Robotics Market of the Service Robotics Market in Australia is experiencing minimal growth due to factors such as limited awareness and high costs. However, with the increasing demand for efficient and cost-effective healthcare solutions, the market is expected to see gradual growth in the coming years.

Customer preferences: In Australia, the Medical Service Robotics Market in the Commercial service robotics Market of the Service robotics Market within the Robotics Market has seen a rise in demand for telemedicine and remote monitoring solutions. This is driven by the growing preference for digital healthcare options, as well as the need for personalized and remote management of chronic conditions. Additionally, there has been a shift towards a more consumer-oriented approach, with a focus on user-friendly and accessible technologies.

Trends in the market: In Australia, the Medical Service Robotics Market in the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a surge in demand for robotic surgical systems. This trend is driven by the rising prevalence of chronic diseases and an aging population, as well as the need for minimally invasive procedures. Additionally, there has been a growing adoption of telehealth services, allowing patients to receive remote consultations and follow-up care. These trends are expected to continue, presenting opportunities for industry stakeholders to develop more advanced and affordable medical service robotics solutions.

Local special circumstances: In Australia, the Medical Service Robotics Market is influenced by the country's ageing population and high healthcare expenditure. This has led to a growing demand for robotic solutions that can assist in elderly care and reduce the burden on healthcare providers. Additionally, the country's strict regulatory framework for medical devices has created a favorable environment for the development and adoption of advanced medical service robots. Furthermore, the country's strong economic stability and high level of technological adoption make it an attractive market for commercial service robotics companies to enter and expand their operations.

Underlying macroeconomic factors: The Medical Service Robotics Market in Australia is heavily influenced by macroeconomic factors such as government policies, healthcare spending, and technological advancements. With a strong focus on healthcare innovation and investment in research and development, Australia has a conducive environment for the growth of the medical service robotics market. Additionally, the country's aging population and increasing prevalence of chronic diseases are driving the demand for advanced healthcare technologies, further fueling the growth of the market. Furthermore, favorable regulatory support for medical service robotics and the increasing adoption of digital health solutions in the country are also contributing to the market's growth.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.