(MENAFN- GlobeNewsWire - Nasdaq) Newark, July 17, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 25.0 billion medical robotic systems market will reach USD 120.1 billion by 2032. The market is anticipated to increase due to ongoing technology developments such as motion sensors, 3D imaging, HD surgical microscopic cameras, data recorders, robotic catheter control systems (CCS), data analytics, and remote navigation. Additionally, more goods receiving FDA approval are anticipated to fuel market expansion during the forecast period. ReWalk Robotics, for instance, declared that the FDA had approved the sale of their ReStore soft exo-suit system to rehabilitation facilities across the United States in 2019. The increased demand for robotic minimally invasive operations is primarily attributable to their benefits, which include fewer cuts, smaller incisions, decreased discomfort, reduced scarring, improved levels of safety, and speedier recovery times.
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Report Attribute Details
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 120.1 Billion |
| Market size value in 2022 | USD 25.0 Billion |
| Expected CAGR Growth | 17% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | 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 |
| Segments Covered | Product Type, Application |
| Customization Options | Customized purchase options are available to meet any research needs. explore customized purchase options |
Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific is expected to have the essential medical robotic systems market share. Over the course of the forecast period, the use of cutting-edge technologies, such as developed software, imaging systems, and capsule robot systems, would further accelerate market expansion. Surgical robots and non-invasive radiosurgery devices are just some of the primary product categories fueling Asia Pacific's expansion. China, Japan, Singapore, Thailand, South Korea, and others are working on creating their medical robotics technology while purchasing an increasing number of robotics systems from other countries. To create robotic medical gadgets, surgical robots, and intelligent robots, for instance, the Chinese government has provided funding to more than 30 manufacturers of MedTech.
The surgical robotic systems segment dominated the market with the most significant revenue of USD 10.25 billion.
The surgical robotic systems segment dominated the market with the most significant revenue of USD 10.25 billion. Robotic surgery has successfully addressed the shortcomings of traditional laparoscopic and thoracoscopic techniques, allowing for the minimally invasive execution of complex and sophisticated surgical operations with improved precision. Compared to the complex positions required for laparoscopic surgery, the surgeon is seated comfortably on the robotic control console, which lowers the physical strain on the surgeon. The market's need for surgical robots is anticipated to rise significantly. This can be attributed to an increase in general surgery procedures performed globally as well as an increase in the use of surgical robots in several surgical procedures, such as bariatric surgery, heller myotomy, gastrectomy, hernia repair, cholecystectomy, transoral surgery, and pancreatectomy.
The Laproscopy segment dominated the market with the most significant revenue of USD 15.75 billion.
The Laproscopy segment dominated the market with the most significant revenue of USD 15.75 billion. The use of surgical robots has increased recently in laproscopy surgeries which is expected to drive the segment's growth. Click here to enter text.
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Market Dynamics:
Drivers: More Accuracy
The benefits of robotic minimally invasive procedures, such as fewer cuts, smaller incisions, lower discomfort, reduced scarring, higher levels of safety, and quicker recovery times, are primarily responsible for the rise in demand for them. Furthermore, by using HD cameras to reveal microscopic features, the treatments give the surgeons incredibly advanced visualisation abilities. So ensuring greater control and higher precision.
Restraint: Lack of Skills
The medical robot system needs more skills because it hinders suitable or improper technology deployment and impedes system development. It is crucial to have someone who can utilise technology to the fullest extent possible since the market will be unrestricted with them.
Opportunity: Growing Innovative Technologies
Growing R&D expenditures will open up lucrative market expansion potential for medical equipment and supplies, particularly in developed and developing countries. Innovative technologies are being integrated into healthcare facilities through research and development, and the market growth rate is also being boosted by the penetration rate in some regions. The research of therapeutic rehabilitation robots and their creation has grown significantly during the last few years.
Challenge: High Cost
The high cost of robotic systems is one of the main issues that is anticipated to impede market expansion. Surgery with a robot is more expensive than traditional surgery. The CyberKnife radiosurgery robotic system ranges from USD 4.2 to 5.2 million per unit, while the cost of the most widely used robotic system, the da Vinci system, is between USD 1.0 million and USD 3.0 million. Furthermore, maintenance will cost an additional $100,000. As a result, the robotic system is anticipated to increase surgical costs, which will restrain market expansion.
Browse the full report with Table of Contents and List of Figures: medical robotic systems market size, share & trends | growth, 2032
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
About the report:
The global medical robotic systems market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material 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' requirements whether they are looking to expand or planning to launch a new product in the global market.
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