Medical Robotic Systems – A Paradigm Shift in Patient Care
A medical robot is a robot used in the medical sciences to perform surgeries and other tasks. They are also for rehabilitation, pharmacy, and to provide off-site assistance to medical professionals. Introduction of novel technologies along with an increase in surgeon or patient acceptance of laparoscopic procedures, robotic assistance, and advanced medical imaging are propelling growth of the global medical robotic systems market. Moreover, utilization of medical robotic systems improve the outcomes of surgery, reduces the hospital stay, and causes less trauma to the patient. Increasing demand for minimal invasive therapy and surgery is expected to fuel growth of the global medical robotic systems market in the near future. Furthermore, in neurology, the targeted cells are surrounded by delicate tissue, wherein a surgeon is unable to control the precision of the surgery, which may cause damage to healthy tissues. In such cases, medical robotic systems are utilized, in order to attain accuracy based on the medical images obtained. These robotic systems are also employed in radiosurgery, where the focused beams of ionizing radiation are directed at the patient, primarily to treat tumors. Rehabilitation robotic systems are designed in a way that allows autonomy for people with disabilities. Thus, the demand for such systems is expected to increase, which in turn. Is expected to propel growth of the global medical robotic systems market. Several other robotic systems are under research and development, which when approved by the U.S. Food and Drug Administration (FDA) are expected to boost growth of the global medical robotic systems market in the near future.
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However, high cost associated with such systems and stringent regulations for identified medical robotic systems in various countries are expected to restrain growth of the global medical robotics systems market. Besides, any harm caused to patients during robotic surgeries, further results in product recall or termination. For instance, Hansen Medical Magellan Robotic System was terminated in September 2015, based on two incidents, when an unexpected event occurred during a retraction operation of catheter.
The global medical robotic systems market was valued at US$ 9,099.84 million in 2019 and is expected to witness a robust CAGR of 14.3 % over the forecast period (2019-2027).
Modern surgery techniques and awareness among the populace are expected to favor market growth
Medical robotic systems are widely used in laparoscopic surgery, which is a minimal invasive surgery to treat hernia. This is expected to provide significant opportunities for growth of the global medical robotics system market. Among regions, North America holds the dominant share in the global medical robotic systems market, followed by Europe. This is owing to presence of skilled surgeons and availability of maximum number of robotic systems in the region. Asia Pacific is expected to witness high growth in the global medical robotics systems market during the forecast period. This growth is attributed to growing prevalence of surgeries, in the region. Moreover, increasing expenditures on healthcare by the population, is expected to boost the market growth. Emerging countries such as Japan and China hold the dominant position in the regional market.
Furthermore, increasing geriatric population, being more prone to higher risk injuries due to their weak skeletal system, are expected to fuel growth, especially for the rehabilitation robotic systems segment in the market. According to National Institute on Aging, 524 million people were recorded to be 65 years of age and above, accounting for 8% of the world’s population in 2010, which is expected to triple in number to 1.5 billion, representing 16% of the world’s population by 2050.
Wide application of medical robotic systems in healthcare is expected to favor growth of the medical robotic systems market
Laparoscopy, neurology, rehabilitation, hospital, pharmacies, and orthopedics are the major application of medical robotic systems, which are expected to drive growth of the market. Rapid adoption of medical robotic systems in hospitals and growing preference for minimally invasive surgeries are also expected to fuel the market growth. For neurology application, Renaissance, Mazor Robotics, the first generation system cleared by the U.S. FDA in 2011 and received CE mark for spinal surgery and brain operations. The preciseness provided by medical robotic systems is projected to be the key factor fueling demand for robotic systems in various surgeries.
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Competitive Landscape
Major companies operating in the global medical robotic system market are Intuitive Surgical, Transenterix, Medrobotics, Verb Surgical, Hansen Medical, MEDTECH, Titan Medical, Microbot Medical, Aethon, and Aesynt.
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