The medical robotic systems market size is predicted to generate a revenue of $56.5 billion by 2030, increasing from $7.6 billion in 2019, advancing at a 20.2% CAGR during the forecast period (2020–2030). Based on type, the market is divided into radiosurgery, rehabilitation, automated dispenser, and surgical, out of which, the surgical division held the major share of the market during the historical period (2014–2019). This is due to the rising demand for minimally invasive robotic surgeries.
The geriatric population has been increasing rapidly all across the globe since the past few years. A report by the United Nations stated that the number of people aged 60 years or above was 962 million in 2017, which is expected to rise to 2.1 billion in 2050 and to 3.1 billion in 2100. This increasing number of aged people is bound to add to the global healthcare burden and financial burden, owing to which, there is a need for innovative means for dealing with this situation.
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In addition to this, the demand for robotic procedures has actually been rising all over the world. As per a study in the Journal of the American Medical Association in 2020, about 15.1% of all the general surgeries in 2018 were robot-assisted procedures. The utilization of robotic surgeries has risen by 8.8% in the first four years, after the adoption of the technology in hospitals.
In addition to this, the increasing demand for minimally invasive surgeries and rising funding by government authorities for medical robots are also leading to the increasing demand for medical robotic systems in the region. Moreover, the companies operating in the regional domain are actively involved in strategic developments and are focusing on raising funds for establishing their stronghold on the market. For example, Corindus Vascular robotics Inc. raised $15 million in February 2019 in a stock offering.
In conclusion, the market has been registering growth due to the rapid technological advancements, rising acceptance of medical robotic systems, and surging aged population.
Read more: https://www.psmarketresearch.com/market-analysis/medical-robotic-systems-market
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