Rising research and funding for medical robots is a significant factor driving global medical robots market revenue growth

VANCOUVER, BC, CANADA, July 4, 2023/EINPresswire.com/ --  The global medical robots market size is expected to reach USD 36.84 Billion in 2032 and register a steady revenue CAGR of 16.5% during the forecast period, according to the latest analysis by Emergen Research. Medical robot market revenue growth is expected to be driven by rising robotic surgical applications during the forecast period. Patients can get complex treatments with reduced recovery time owing to robotic surgery. Even in difficult-to-reach places, it employs sophisticated technologies to give exact care. Robotic surgery is used to treat diseases of the bladder, prostate, heart, digestive system, and more, thus leading to more application areas of medical robots and increasing its market revenue growth.

One of the primary restraints to market revenue growth is high prices associated with robotic systems. The price of each of these systems is USD 2 million, and each system comes with a few disposal pieces that need to be changed after every operation. Robotic surgical treatments cost USD 866 more for each operation for the instruments and add-ons than conventional surgeries. A highly qualified professional is also needed to run the machines throughout the operations. 

The report exhaustively studies the current market scenario and prominent growth opportunities. It comprises a broad database of the medical robots market dynamics that help in the accurate market estimation over the projected timeline. The report also offers reliable information about the product offerings, wide application range, major market segments, leading market players, company profiles, pricing range, production capacity, revenue generation, technological advancement, and many other elements. The report is the latest document offering full coverage of the impact of the COVID-19 outbreak on the medical robots market. The global health crisis has affected nearly every aspect of this business vertical, alongside adversely impacting the global economy. The research report encompasses the serious effects of the coronavirus pandemic on the medical robots market and its impact on the key market segments. It further gauges the impact of the COVID-induced restrictions on the leading market players, supply chains, and distribution channels.

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Some Key Highlights From the Report

On 26 October 2022, to enable a more rapid commercial launch of several cutting-edge innovations, KDB Investment Global Healthcare of Korea, a new investor, contributed USD 100 million to THINK Surgical, a technology developer creating orthopedic surgical robots. THINK Surgical will be able to develop its business strategy and realize its full potential as a market leader in orthopedic surgical robots with the help of this funding.

The laparoscopy segment is expected to account for the largest revenue share during the forecast period owing to increased research and development in the area for fully autonomous robotic systems. For instance, without the assistance of a human surgeon, a team of Johns Hopkins University researchers using the Smart Tissue Autonomous Robot (STAR) successfully performed laparoscopic surgery on pig soft tissue. This signifies a big step in robotics technology toward fully automated human surgery.

The hospital segment is expected to account for the largest revenue share during the forecast period attributable to a growth in the use of surgical robots in healthcare. For example, the use of robotic surgery in hospitals in the USA has increased significantly, especially after the Food and Drug Administration (FDA) approved the da Vinci Surgery System by Intuitive Surgical for general laparoscopic operations. Given the fact that low-cost alternatives might be considered as an alternative to expensive robots in some situations and are competitive with them, some hospitals are also investigating them. This is driving revenue growth of the segment.

Market in North America is expected to account for the largest revenue share during the forecast period. One of the factors influencing an increase in market revenue is labor scarcity in the region. For instance, according to a February 2022 research from the American College of Healthcare Executives, staff shortages were the top concern for community hospital CEOs, and they also posed the biggest risk to patient safety, according to a February 2022 report from patient safety charity ECRI. As a result, the need for medical robots becomes clear and demand rises.

Major Players/Manufacturers profiled in the report are:

Intuitive Surgical, Stryker, Accuray Incorporated, BD, Medtronic, Omnicell, Zimmer Biomet, Smith+Nephew, Hocoma, CYBERDYNE INC

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Global Medical Robots Market Report - Segmental Analysis:

Product & Service Outlook (Revenue, USD Billion; 2019–2032)

Instrument & Accessories

Robotic Systems

Services

Application Outlook (Revenue, USD Billion; 2019–2032)

Laparoscopy

Orthopedic Surgery

Pharmacy Applications

Physical Rehabilitation

External Beam Radiation Therapy

Neurosurgery

Others

End-Use Outlook (Revenue, USD Billion; 2019–2032)

Hospitals

Ambulatory Surgery Centers

Rehabilitation Centers

Others

Key Geographies Profiled in the Report:

North America(the U.S., Mexico, and Canada)

Asia Pacific(China, Japan, India, and Rest of Asia Pacific)

Europe(the U.K., France, Germany, and Rest of Europe)

Latin America(Brazil and Rest of Latin America)

Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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Key Benefits For Stakeholders:

The report provides an extensive analysis of the current and future trends in the global minimally invasive surgical systems market to elucidate the imminent investment pockets.

A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.

Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.

A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.

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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research
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