The use of robots in surgical procedures is rising around the world, while pharmacies are also automating their operations. Further, the increasing geriatric population is creating a high requirement for caregivers, the numbers of whom are dwindling. Propelled by these factors, as well as the surging healthcare and medical robotics expenditure, the global medical robotic systems market is growing. Compared to $7,626.1 million in 2019, the market is expected to value $55,528.1 million by 2030. During 2020–2030 (forecast period), the revenue generated in the industry is projected to witness a CAGR of 20.1%.
Medical Robotic Systems Market Segmentation
In 2019, the surgical category held the largest share in the medical robotic systems market, with the increasing popularity of minimally invasive surgeries (MIS), which are conducted by robots. Such procedures require less manual effort and time, as compared to human-conducted surgeries. Additionally, they offer the advantages of lesser pain, shorter hospital stay, and quicker recovery.
During the forecast period, the highest CAGR in the medical robotic systems market would be experienced by the treatment classification, on account of the increasing volume of robot-assisted MISs around the world.
North America is predicted to continue dominating the medical robotic systems market till 2030. This would be a result of the high public and private investments in the field, presence of a number of market players, and established healthcare industry, because of which medical centers here have a higher purchasing power for such cost-intensive equipment.
Product Launches being Pursued by Major Market Players
In the recent years, the key medical robotic systems market players have introduced several new and improved products to attract customers. For instance, in May 2019, Genesis RMN, a next-generation robot, and Imaging Model S were launched by Stereotaxis Inc. as an integrated solution for robotic interventional operating rooms. While Genesis RMN is available throughout the European Union (EU), Imaging Model S can be procured by customers in the EU, the U.S., and several other places.
Browse report overview with detailed TOC on "Medical Robotic Systems Market Research Report: By Type (Surgical, Automated Dispenser, Rehabilitation, Radiosurgery), Application (Treatment, Pharmacy Automation), Indication (Urology, Gynecology, Cardiothoracic Surgery, Orthopedics), End User (Hospitals and Ambulatory and Surgery Centers (ASCs), Pharmacies, Rehabilitation Centers) - Industry Size, Share, Trends, Drivers, Development and Demand Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/medical-robotic-systems-market
Similarly, Accuray Incorporated introduced the Synchrony motion tracking and correction technology for its Radixact System in April 2019. The intrafraction motion synchronization capabilities of this technology enable the Radixact System to track, visualize, and monitor tumor motion in real time. This further helps in an improvement in the drug dose accuracy and reduction in treatment time.
Hocoma AG, Accuracy Incorporated, Medrobotics Corporation, Capsa Healthcare, ARxIUM Inc., Titan Medical Inc., Omnicell Inc., Intuitive Surgical Inc., Globus Medical Inc., Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Stereotaxis Inc., Johnson & Johnson, and Smith & Nephew plc are the major players in the global medical robotic systems market.