Medical Robots Market Poised to Grow Owing to Improving Healthcare Infrastructure


 The Medical Robots Market is anticipated to witness robust growth due to rising healthcare spending across the globe. Medical robots are used to perform minimal invasive surgeries with greater accuracy and flexibility. Growing preference for Robot-Assisted Surgery (RAS) over conventional open surgeries due to benefits such as shorter recovery time and minimum operative scars has been augmenting demand for medical robots. Key functions include guiding and positioning surgical accessories like guide tubes in radiology and guiding catheter and wires in cardiology. With rising chronic disease prevalence associated with aging populations, the need for more surgical procedures is surging which requires precise action minimally invasive robotic systems can provide.

The Global Medical Robots Market is estimated to be valued at US$ 11.47 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.

Key Takeaways:

Key players operating in the Medical Robots Market are Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Accuray Incorporated, iRobot Corporation and Medrobotics Corporation. These players are investing heavily in R&D to launch innovative product offerings and gain an edge over rivals. Technological advancements and product launches are important growth strategies adopted by market leaders.

There is a vast opportunity for Medical Robots in non-invasive surgeries related to neurology, orthopedics, and laparoscopy. Miniaturization of robotic parts and system integration can further expand applications. Rising healthcare spending in emerging nations also opens new avenues.

Players are focusing on global expansion plans to penetrate high-potential markets like Asia Pacific and Latin America. Strategic partnerships with local hospitals, distributors and government bodies aid international business growth. Manufacturers offer training programs to popularize robot-assisted procedures overseas.

Market drivers:

One of the key drivers for the medical robots market is the improving healthcare infrastructure in developing nations. Rising incomes have increased healthcare spending which is driving demand for advanced surgical robotic systems in countries like India, Brazil and China.

Market restrain:

High investment and maintenance costs of medical robots act as a major restraint. Robotic systems have high price tags which limits widespread adoption. Regular upgrades and repairs also increase operating expenses for hospitals. This hinders procurement in cost-sensitive developing markets.

Segment Analysis
The medical robots market is dominated by surgical robots segment which holds around 55% of the total market share. Surgical robots are gaining widespread adoption among healthcare facilities due to increasing demand for minimally invasive surgeries. Factors such as lower post-operative complications, shorter hospital stay, and faster recovery time compared to open surgeries have boosted the adoption of surgical robots among hospitals. Within surgical robots, general surgery robots constitute the largest sub-segment owing to increasing use of robot-assisted surgeries for cardiac surgeries, bariatric surgeries, and others. Rehabilitation robots is expected to witness fastest growth during the forecast period due to growing need for physiotherapy among elderly population and rising cases of strokes requiring intensive physiotherapy.

Global Analysis
North America dominates the global medical robots market with highest revenue share of over 40% in 2023. Presence of advanced healthcare infrastructure, high adoption of technologically advanced medical devices among healthcare facilities, and favorable reimbursement policies are some of the major factors driving the medical robots market in the region. Europe is expected to witness the fastest growth during the forecast period owing to growing geriatric population, increasing funding for medical robot research, and rising focus on patient safety. Asia Pacific region will exhibit significantly high growth with CAGR of around 20% during 2023-2030 due togrowing medical tourism industry in countries like India and China, expanding healthcare infrastructure, and improving access to healthcare in emerging nations.

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