Medical Robotic Systems Industry Trends and Opportunity By 2022

Posted by Nicky Arora on February 14th, 2020

Global medical robotic systems market revenue is expected to reach USD 17.89 billion by 2022, according to a new report by Grand View Research, Inc. Key drivers of this market include the increasing demand for robotic surgeries, constant improvement in healthcare infrastructure in emerging economies, improving reimbursement policies and increasing awareness levels amongst healthcare establishments, and practitioners.

According to data published by the U.S. FDA in 2012, approximately 450,000 robotic assisted surgeries were performed. The increase in prevalence of cancer, neurological disorders, spinal disorders, and prostate disorders are expected to further propel the demand for minimally invasive surgeries and consequently boost market growth. 

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Further key findings from the study suggest:

•          The introduction of new generation robotic systems integrated with advanced data recorders, remote navigation systems, HD microscopic cameras, data analytic systems, motion sensors; 3D-Imaging and robotic controlled catheters are further expected to boost demand over the forecast period
•          Surgical robots was the largest product segment at over 60.0% in 2014, owing to the increasing number of robotic surgeries performed and increase in patient acceptance pertaining to assisted minimally invasive surgeries.
•          Non medical hospital robotic systems are identified as the fastest growing product segment. Key factors accounting for this rapid growth include growing interest in telemedicine robots and cart robots which improve the automation in the hospital sector and also improve the patient care.
•          On the basis of application, laparoscopy enabled systems accounted for the largest revenue share at 80.0% in 2014. Increase in geriatric population and rise in the prevalence of neurological disorders such as brain tumors, strokes, and spinal disorders are some factors expected to drive segment growth over the forecast period.