Dublin, May 25, 2023 (GLOBE NEWSWIRE) -- The "Medical Robotics Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Medical Robotics Market will reach US$ 72.22 Billion in 2030 from US$ 11.66 Billion in 2022, growing at a CAGR of 25.6%
Medical robotics refers to using advanced robotics technology in medical applications such as surgery, rehabilitation, and diagnosis. Medical robots can assist or replace human activities, such as performing complex surgeries, monitoring vital signs, and providing physical therapy.
Medical robotics often involves using advanced technologies like artificial intelligence (A.I.), computer vision, and machine learning to improve the accuracy and precision of medical procedures, reduce complications and recovery time, and enhance patient outcomes. The medical robotics market has been growing steadily in recent years and is expected to continue in the coming years.
The COVID-19 pandemic has added to the adoption of medical robotics by reducing the number of healthcare workers available to perform procedures and increasing the need for contactless patient interactions. As a result, hospitals have rapidly adopted robotic surgery in the U.S. and Europe to treat a wide range of conditions.
The most widely used medical computerized surgical system consists of a camera arm and mechanical arms with surgical instruments attached. Robot-assisted procedures encompass various medical interventions, such as removing cancerous tumors, biopsies, repairing heart valves, and gastric bypasses.
The growth driver of the medical robotics market on a global scale is a range of ongoing technological advancements like motion sensors, robotic catheter control systems (CCS), 3D imaging, data recorders, data analytics, H.D. surgical microscopic cameras, and remote navigation. Furthermore, the growing elderly population in various countries has increased the demand for performing medical procedures more efficiently and effectively with robots.
Additionally, the medical robotics market propelling shall be due to an anticipated increase in FDA clearances for these products in the forecast period.
The rise of the medical robotics market has been due to government support through funding and initiatives to promote research and development and adopt robotic technology in healthcare facilities worldwide.
A notable example is China's National Science and Technology Major Project on Intelligent Robots, a significant government investment seeking to advance the development of intelligent medical robots for diagnosis and treatment.
Laparoscopic application dominates the Global Medical Robotics Market
Medical robots are gaining popularity because they can perform minimally invasive surgical procedures with greater fidelity and accuracy than humans, reducing patient trauma, pain, and recovery time. They also assist in routine and repetitive physical tasks, freeing up medical personnel for more critical studies, which is crucial in areas with a shortage of skilled medical personnel.
In addition, technological advancements have enabled medical robots to become more precise, flexible, and effective in various physical tasks, creating new possibilities for biological applications in the global medical robotics market.
The medical robots market can address the shortage of skilled laparoscopic surgeons in many countries by providing more efficient and accurate healthcare services. They can perform laparoscopic procedures consistently and precisely, minimizing the reliance on highly experienced surgeons.
This technology can also lead to cost savings for healthcare facilities by reducing errors and improving productivity. Moreover, the users can program medical robots to perform specific tasks continuously, reducing the need for human staff.
Specialty Centres are rising in the Medical Robotics market as they invest in advanced Technology
Specialty centers invest in advanced medical robotics technology, offering more precise and minimally invasive surgeries that improve patient outcomes, reduce complications, and shorten recovery time, attracting patients seeking high-quality healthcare services and creating a solid brand image for the center, differentiating it from competitors and attracting patients who value advanced technology and medical expertise.
Thanks to strong government support in many countries, the Asia-Pacific region is poised for growth in the Global Medical Robotics Market
Healthcare spending has increased in many Asia-Pacific countries, creating more opportunities for medical robotics technology to integrate into their healthcare systems. Governments in the region have supported the development and adoption of medical robotics technology, such as Japan providing funding for research and development.
Additionally, the Chinese government is investing in domestic MedTech manufacturers to reduce their dependence on foreign technology, including developing intelligent robots and robotic medical devices such as surgical robots. The da Vinci system was prevalent in China, with over 60,000 operations.
The North American medical robot market is projected to hold the most significant revenue during the forecast period. This can be attributed to the region's advancements in technology, increasing adoption of surgical robots by hospitals, and availability of upgraded medical robots in the market.
The market is gaining momentum due to continuous technological advancements in the healthcare industry. Additionally, the market is experiencing growth due to increased funding from both public and private sources. The presence of competent companies responsible for regulating the devices also contributes to the market's growth and stability in the United States.
Key Players
IRobot, Intuitive Surgical, Stryker, Accuray, Medtronic, Smith & Nephew, McKesson, and Ekso Bionics Holdings are some of the major companies in the medical robotics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.66 Billion |
| Forecasted Market Value (USD) by 2030 | $72.22 Billion |
| Compound Annual Growth Rate | 25.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Porter's Five Forces
5.1 Bargaining Power of Buyers
5.2 Bargaining Power of Suppliers
5.3 Degree of Competition
5.4 Threat of New Entrants
5.5 Threat of Substitutes
6. Global Medical Robotics Market
7. Share Analysis - Global Medical Robotics Market
7.1 By Application
7.2 By End Users
7.3 By Region
8. Application - Global Medical Robotics Market
8.1 Neurology
8.2 Cardiology
8.3 Orthopedic
8.4 Laparoscopic
8.5 Physical
8.6 Pharmacy
8.7 Others
9. End Users - Global Medical Robotics Market
9.1 Hospitals & Clinics
9.2 Specialty Centers
9.3 Rehabilitation Centers
10. Region - Global Medical Robotics Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Middle East & Africa
11. Key Players Analysis
- IRobot
- Intuitive Surgical
- Stryker
- Accuray
- Medtronic
- Smith & Nephew
- McKesson
- Ekso Bionics Holdings
For more information about this report visit https://www.researchandmarkets.com/r/t0jank
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