Medical Robotics Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Competitive Strategies

Medical Robotics Market

Market Overview:

In addition, the global medical robotics market is expected to rise at a CAGR of 23.21%, with a value of USD 23,432 million over the estimated projected year of 2020-2025.

The increasing need for correct and appropriate laparoscopic operations, as well as rising requirements for surgical treatments in the geriatric population and an increase in occurrences of trauma injuries, are the primary factors driving and controlling the growth of this market. Because of the growing prospects for minimally invasive surgery across surgical domains, robot-assisted surgery has rapidly increased. As the market for robotic surgery approaches a decade of commercial usage, fresh surgical modalities with new technologies, lower prices, and smaller sizes are becoming accessible.

For a long time, Innovative Technologies controlled the robotic surgical business and maintained a sizable market share. With the expiration of the original Da Vinci patents, the stage is set for an exponential surge in robotic system development. The newer systems aim to improve on the da Vinci model in three ways: unique technology, lower cost, and smaller size. In the United States and Europe, hospitals have swiftly adopted robotic surgery to treat a variety of illnesses. The most common clinical robotic surgical system consists of a camera arm and mechanical arms with surgical tools attached. Biopsies, the excision of malignant tumors, the replacement of heart valves, and gastric bypasses are all examples of robot-assisted surgeries.

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Market Segmentation:

The global medical robotics market has been segmented into application, product, end-users, and regional analysis. With the product section, the global medical robotics market has been divided into four sections hospital, rehabilitation robotics systems, non-invasive radiosurgery systems, surgical robotics systems, and pharmacy systems, and others. With the application section, the global market has been divided into five sections cardiology, neurosurgery, laparoscopy, pharmacy application, orthopedic surgery, and others. The end-user section further divides the global market into three categories: rehabilitation centers, specialty centers, hospitals and clinics, and others. The market is further classified into five sections: Asia-Pacific, North America, South America, Europe and Middle East & Africa with the regional analysis.     

Regional Analysis:

The Asia-Pacific medical robotics market is predicted to develop at a healthy rate during the forecast period. China accounts for the vast bulk of the region’s market share. The rising popularity of instrument-based services is primarily driving Chinese demand for medical robots. Other considerations, such as a shortage of competent physiotherapists and caregivers, bolster the need.

The Asia region’s need for modern healthcare infrastructure systems is predicted to expand steadily in the future years. China accounts for the vast bulk of the region’s market share. The rising popularity of instrument-based services is primarily driving Chinese demand for medical robots. Other concerns, such as a shortage of competent physiotherapists and caregivers, also encourage the need.

While the da Vinci system is widely utilized in China in over 60,000 operations, the Chinese government is eager to lessen its reliance on foreign technology, according to the South China Morning. It has supported more than 30 MedTech businesses developing intelligent robots and robotic medical products, including surgical robots, for more than two years.

Industrial News:

Despite the existence of multiple companies, the medical robotics market is somewhat consolidated since the majority of market demand is fulfilled by sophisticated products from big firms. Growth and competitiveness can be ascribed to western alliances to enhance healthcare, indigenous businesses developing surgical robots, and many government cooperation with regional institutions for research and development objectives.

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