The global Medical Robotic Systems Market size is expected to reach USD 76.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 17.4% from 2022 to 2030. The major factors contributing to the industry growth are the higher per capita healthcare spending and technological advancements in surgical medical equipment. Furthermore, the surging need for surgical procedures in the elderly population, growing demand for accurate laparoscopic surgeries, and rising cases of trauma injuries are fueling the market growth.
Advancements in technology along with the growing
number of FDA clearances for products are expected to further propel the market
growth in the forecast period. Technologies such as motion sensors, data
recorders, data analytics, HD surgical microscopic cameras, robotic catheter
control system (CCS), 3D-Imaging, and remote navigation are getting
incorporated into the robotic system. These technologies are increasing the
demand for robotic minimally invasive surgeries as they provide greater control
and higher accuracy.
With the increasing target patient population,
growing medical tourism, and business-friendly regulatory strategies, emerging
countries are providing large opportunities for key players to expand their
market within the region. The high cost of robotic systems, along with
maintenance charges, hampers the market growth. For instance, the most commonly
used robotic system, the da Vinci system, costs between USD 1 million and USD 3
million, whereas the cost of the CyberKnife radiosurgery robotic system ranges
from USD 4.2 to 6.2 million per unit. Furthermore, an additional USD 100,000 is
required for maintenance. COVID 19 negatively impacted the market growth. The
pandemic has led to a provisional ban on elective surgeries throughout the
world, which resulted in withdrawals of elective surgeries. Moreover, COVID-19
caused economic disruption throughout the world, which further badly affected
the market growth.
Related Press Release@ Medical Robotic Systems Market Report
Medical Robotic Systems
Market Report Highlights
- The market is expected to grow owing to the increasing demand for
accurate laparoscopic surgeries, the growing need for surgical procedures
in the geriatric population, and rising cases of trauma injuries
- By type, surgical robots held the second-largest revenue share in
2021 owing to the growing adoption rate of robotic systems in hospitals
and the increase in demand for minimally invasive surgeries
- Asia Pacific dominated the market with a revenue share of over
50.0% in 2021. Latin America is anticipated to exhibit the fastest CAGR of
18.9% over the forecast period
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