Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 25.0 Billion in 2022 medical robotic systems market will reach USD 120.1 Billion by 2032. There are several varieties of medical robotic systems, each with specific needs. Medical robotics is an innovative piece of equipment that assists with physical challenges, difficult surgical operations, and hospital automation to achieve precision in medical, rehabilitation, and assistive methods.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 25.0 Billion |
| Market Size in 2032 | USD 120.1 Billion |
| CAGR | 17% |
| No. of Pages in Report | 237 |
| Segments Covered | Product Type and Application |
| Drivers | Technological Development |
| Opportunities | Rise in Medical Tourism |
| Restraints | High Cost |
Key Insight of the Medical Robotic Systems Market
Asia Pacific emerged as the most significant market, with 55% market revenue share in 2022.
Asia Pacific dominated the market, with a market share of around 55% in 2022. In APAC, a significant rise in demand for the advanced healthcare infrastructure system is predicted during the projection period. Additionally, governments are helping to expand the market because they are looking for technological breakthroughs in the pharmaceutical industry.
The surgical robotic systems segment accounted for the largest market share of 41% in 2022.
The surgical robotic systems segment dominated the market, with a market share of around 41% in 2022. Robotic surgery refers to the use of robotic technology in minimally invasive surgery. Surgeons are able to do accurate procedures due to these robotic equipment, which are operated by them and consist of miniature surgical instruments mounted on robotic arms.
The laproscopy segment accounted for the largest market share of 63% in 2022.
The laproscopy segment dominated the market, with a market share of around 63% in 2022. This market is dominating because of the rise in laproscopy procedures and the growing use of surgical robots.
Market Dynamics
Driver: Technological development
The market has grown as a result of the surgical technology and equipment developing so quickly. The market will continue to grow as a result of the quick advancement of technology in a variety of industries, including motion sensors, robotic catheter control systems (CCS), remote navigation, 3D imaging, and others.
Restraint: High cost
It is anticipated that high research and development costs, a lack of infrastructure, and the cost of robotically assisted treatments will limit market expansion. Furthermore, it is projected that the market would face challenges as a result of limited adoption of technology, favourable reimbursement circumstances in developing nations, and high construction and maintenance costs associated with infrastructure in low- and middle-income nations.
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Some of the major players operating in the medical robotic systems market are:
• iRobot Corporation
• Medrobotics Corporation
• Titan Medical Inc.
• Renishaw Plc
• Health Robotics SLR
• OR Productivity plc
• Intuitive Surgical
• Mako Surgical Corp.
• Varian Medical Systems
• Stereotaxis Inc.
• Mazor Robotics
• Medtronic
• Stryker
• Zimmer Biomet
• Smith & Nephew
Key Segments cover in the market:
By Product Type:
• Surgical Robotic Systems
• Rehabilitative Robotic Systems
• Non-invasive Radiosurgery Robots
• Hospital & Pharmacy Robotic Systems
By Application:
• Radiation Therapy
• Laproscopy
By Region
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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