Medical Service Robotics - United Kingdom

Revenue in the Medical Service Robotics market is projected to reach US$576.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.06%, resulting in a market volume of US$1.21bn 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 UK is experiencing considerable growth, driven by factors such as increasing adoption of robotics technology in healthcare, growing demand for advanced medical services, and the convenience of robotic assistance. The market's growth rate is being impacted by the rising need for efficient and cost-effective healthcare solutions.

Customer preferences: The Medical Service Robotics Market in the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a rise in demand for telemedicine and remote patient monitoring solutions. This is driven by consumer preferences for convenient and timely medical services, as well as the need for remote management of chronic conditions. Additionally, with an aging population and increasing healthcare costs, there is a growing demand for robotic assistants in hospitals and nursing homes to assist with tasks such as lifting and transferring patients.

Trends in the market: In the United Kingdom, 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 robot-assisted surgeries and telemedicine services. This trend is expected to continue, driven by advancements in technology and the need for remote healthcare solutions. Additionally, there is a growing focus on using robotics in elderly care, with robots being developed to assist with tasks such as medication reminders and companionship. These trends have significant implications for industry stakeholders, as they open up new opportunities for market growth and innovation. However, there are also potential challenges, such as regulatory hurdles and concerns about the ethical implications of using robots in healthcare.

Local special circumstances: In the United Kingdom, the Medical Service Robotics Market within the Commercial service robotics Market of the Service robotics Market is driven by the increasing demand for advanced healthcare solutions, coupled with the rising adoption of automation and AI in the medical sector. The country's well-established healthcare infrastructure and supportive government policies also contribute to market growth. However, strict regulations and high costs associated with medical robotics hinder market expansion.

Underlying macroeconomic factors: The growth of the Medical Service Robotics Market in the Commercial service robotics Market of the Service robotics Market within the Robotics Market is influenced by macroeconomic factors such as technological advancements, government support, and investment in healthcare infrastructure. Countries with strong regulatory environments and significant investment in medical service robotics are experiencing faster market growth compared to regions with regulatory challenges and limited healthcare funding. Additionally, the increasing demand for advanced healthcare solutions to improve patient outcomes and the rising geriatric population are major drivers of 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.