Medical Robotic Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Medical Robotic Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Medical Robotic Systems market is expected to grow by registering a CAGR of 17.3% during the forecast period. The public's perception of the use of medical robots in senior living facilities has improved over the last couple of years. One of the key initiatives that could lower the number of ER visits brought on by unplanned falls and increase the accessibility and affordability of at-home care is the implementation of robotic care.

Key Highlights

• The growing demand for accurate and proper laparoscopic surgeries, with rising requirements for surgical procedures in the geriatric population and mounting cases of trauma injuries, are the major factors in driving and managing the growth of this market.
• Robot-assisted surgery has quickly proliferated due to increasing opportunities for minimally invasive surgery across the surgical domains. As robotic surgery approaches a decade of commercial use, the market is diversifying, and novel surgical modalities with the new technology, decreased costs, and smaller sizes are becoming available.
• For instance, medical robots are used for intervention and diagnostics. Robotics for healthcare can be defined as a system that can perform biomechatronic actions based on the analysis of signals from sensors to provide healthcare, including medical diagnosis confirmation, treatment delivery, support for rehabilitation, and patient support in preventative programs, among other things.
• Intuitive Surgical has dominated the robotic surgical market and maintained a considerable market share for a significant period of time. With original da Vinci patents now expiring, the stage is now set for an exponential increase in robotic system development. The newer systems seek to improve on the da Vinci model through three main avenues: novel technology, reduced cost, and size reduction.
• Robotic surgery has been rapidly adopted by hospitals in the US and Europe for use in the treatment of a wide range of conditions. The most widely used clinical robotic surgical system includes a camera arm and mechanical arms with surgical instruments attached to them. Examples of robot-assisted procedures include biopsies, removal of cancerous tumors, repairing heart valves, and gastric bypasses.
• Due to the significant risk that COVID-19 posed to surgeons, various surgical associations have developed safety recommendations for these procedures in the present pandemic scenario. Robots can be included in various parts of the sequence that each surgical patient travels through during their hospital stay in order to prevent the spread of pathogens successfully. These applications are driving the need.

Key Market TrendsSurgical Robots to Dominate the Market

• Robotic surgery is a type of minimally invasive surgery which utilizes robotics for performing surgical procedures. These robotic systems are operated by surgeons and consist of miniaturized surgical instruments which are mounted on robotic arms, thus allowing surgeons to perform the surgeries precisely.
• The key factors boosting the surgical robots segment are the increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries. In order to address motion and tissue resistance, researchers are developing new strategies with the adoption of collaborative robots. For instance, Collaborative robots assist in lowering the possibility of human contamination in delicate operations and sterile settings. Collaborative robot arms from UR can be used to handle and assemble implants or medical items in a sterile, accurate manner.
• The surgical robotics segment accounted for the largest portion of the medical robotics, owing to the rising adoption of robotic surgical systems across Tier-1 hospitals, demand for highly efficient replaceable components, increase in the volume of robotic procedures performed worldwide, and growing demand for instruments & accessories due to their recurring need per procedure.
• Robotic surgery has effectively solved the drawbacks of conventional laparoscopic and thoracoscopic surgery, enabling the completion of intricate and advanced surgical procedures with higher precision and a minimally intrusive method. The surgeon is sitting comfortably on the robotic control console, which lessens the physical strain on the surgeon compared to the awkward positions needed for laparoscopic surgery.
• It is projected that there will be a major increase in the market's demand for surgical robots. This can be attributed to an increase in the use of surgical robots in a variety of surgical procedures, including bariatric surgery, heller myotomy, gastrectomy, hernia repair, cholecystectomy, transoral surgery, and pancreatectomy, as well as an increase in the volume of general surgery procedures performed globally.

Asia Pacific to Witness the Highest Growth

• The growing demand for the advanced healthcare infrastructure system in APAC is expected to witness healthy growth during the forecast period. Medical robotics' market potential in the APAC area is expanding quickly; it was assessed at USD 1.59 billion in 2021 and is anticipated to reach USD 4.54 billion by 2026. Governments, which are also looking for technological breakthroughs in their own pharmaceutical sectors, are also contributing to the market expansion. This opens the door for additional advancements, greater accessibility to medical robotics, and larger investment in the upcoming years.
• China contributes a majority of its market share in the region. Chinese demand for medical robots is mainly driven by the increasing adoption of instrument-based services. The demand is also supported by other factors, such as the lack of skilled physiotherapists and caretakers.
• The growing demand for advanced healthcare infrastructure systems in the Asia region is expected to witness healthy growth during the coming period. China contributes the majority of the market share in the region. The Chinese demand for medical robots is mainly driven by the increasing adoption of instrument-based services, and also, the demand is supported by other factors, such as the lack of skilled physiotherapists and caretakers.
• According to the South China Morning, while the da Vinci system is broadly used in China in more than 60,000 operations to date, the Chinese government is eager to reduce its dependence on foreign technology. For more than two years, it has backed more than 30 MedTechmanufacturers who develop intelligent robots and robotic medical devices, including surgical robots.
• In the ZhongkaiHi-Tech zone in Huizhou, SS Innovations is developing and testing an affordable, modular robotic surgical system that is capable of complex motion control. The company is working with a budget of around USD 15 million from the Chinese government in recruiting and training talent from around the world.
• Because that Australia has been using robotic-assisted minimal access surgery (MAS) for approximately 20 years, the Australian medical robotics sector is well sophisticated. Versius, a surgical robot designed to reduce the heavy physical demand on surgeons using conventional surgical robots, was recently introduced in Australia, demonstrating and securing the nation's position in the worldwide medical robotics industry.

Competitive Landscape

The Medical Robotic Systems Market is competitive as the majority of the market demand is satisfied by the advanced offerings from major players despite the presence of several players. The growth and competitiveness can be attributed to western partnerships to improve healthcare, the development of surgical robots by domestic manufacturers, as well as multiple collaborations of the government with regional universities for research and development purposes. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.

• September 2022 - Titan Medical announced an agreement with Medtronic for a limited development program. As per the agreement, Medtronic will evaluate the performance of Titan’s instruments and cameras in gynecological procedures, which Titan Medical plans to pursue as the first indication for its surgical robot.
• June 2022 - Intuitive, a global technology company in minimally invasive care and the pioneer of robotic-assisted surgery, announced the U.S. Food and Drug Administration had cleared the integration of a mobile cone-beam CT (CBCT) imaging technology and the Ion Endoluminal System used for robotic-assisted bronchoscopy.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.