Medical Robotics & AI in Healthcare Industry Update
AVRA Medical Robotics, after clearing debts have resumed its development of fully autonomous surgical bot. The Indian robotics company is positive about its approval from the FDA and have earned the CE Mark approval from Europe regulatory body. AVRA is hopeful of their surgical robot utility clearance in the U.S., Australia, Canada, Brazil, and Japan. Surgeons, are to get assistance over a wide range of operation procedures using from the autonomous bot. At present, ARVA is focusing on the development of treatment-independent and precision-guidance system for non-invasive skin-resurfacing aesthetic procedures. While the project continuities, AVRA has appealed to the US FDA for fund raising to develop medical robot products. Simultaneously, Titan Medical Inc, a Toronto-headquartered sport surgical system developer, have also petitioned USD 85 Mn to US FDA for the development of its sport robot-assisted surgery gadget. Lately, the company have put the filling on hold, until they discover a potential buyer. In APAC, a scientist of the Shenzhen Institutes of Advanced Technology in China invented robot brain worm. Robot brain worms is a novel drug delivery technique that can eliminate possibility of drug toxicity in cancer patients. CloudMinds Technology is making headline in China. As coronavirus brings doom days in Wuhan, the Beijing-based developer of cloud artificial intelligence, teamed up with China Mobile, donated 5G powered disinfecting cleaning Cloud Robots. Thus, it is can be concluded that medical robotics are game changers in the medical sector.
Meanwhile, Healthcare Artificial Intelligence is another technology that is observed to contribute significantly to the medicine industry. In January 2020, Microsoft has launched its five-year healthcare artificial intelligence program. The reputed American information company designed “AI for Health” program to bet tall challenges of the healthcare sector. The resolution of global care crisis due to fault in diagnosis and treatment procedures are major take offs from the USD 40 Mn program. The main agenda of the program is to accelerate medical research and improve community health. The AI for Health program also take into account partnerships with reputed companies that can assist in building a secured ecosystem for sharing medical data. Hence, it is evident that healthcare artificial intelligence is a stupendous initiative absorbed by the medical industry.
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Segmental Analysis
The worldwide medical robotics market is studied by product, end-user, and application. By product, the market segments are rehabilitation robotic systems, surgical robotic systems, non-invasive radiosurgery robotic systems, hospital and pharmacy robotic systems, and others. Laparoscopy, cardiology, neurosurgery, pharmacy, and orthopaedic surgery are application segments. Hospitals and clinics, rehabilitation centers, specialty centers, and others are end-users.
The healthcare artificial intelligence market segments are based on application, component, end user, and technology. By component, the market segments are software, hardware, and services. By application, the market segments are virtual nursing assistant, robot-assisted surgery, clinical trial, dosage error reduction, automated image diagnosis, and preliminary diagnosis. By technology, the market segments are querying method, machine learning, and natural language processing. By end user, the market segments are pharmaceutical & biotechnology, hospital & diagnostic centers, and academic & research laboratories.
Regional Outlook
The healthcare artificial intelligence market and medical robotics market in North America are expected to experience a sharp rise in their valuations on conclusion of their study period. The global market of healthcare artificial intelligence is expected to thrive at 51.9% CAGR by 2023. The worldwide medial robotics market at 23.21% CAGR can value at USD 23,432 Mn by 2025
Key Players
Stryker (US), Smith & Nephew (UK), Intuitive Surgical (US), Aethon (US), InTouch Technologies, Inc. (US), Mazor Robotics (Israel), Medtech SA (France), Renishaw plc (UK), ReWalk Robotics (US), Ekso Bionics (US), McKesson Corporation (US), and Medrobotics Corporation (US) are prominent companies in the global medical robotics market.
Next IT Corp, General Vision, Google, DEEP GENOMICS, Intel Corporation, Koninklijke Philips N.V, GENERAL ELECTRIC, Microsoft Corporation, Stryker, CloudMedx Inc, IBM Watson Health, and NVIDIA Corporation are some reputed names in the healthcare in artificial intelligence market.
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