MEDICAL ROBOTIC SYSTEM MARKET ANALYSIS

Medical Robotic System Market Size and Trends

Global medical robotic system market is estimated to be valued at USD 21.3 Bn in 2024 and is expected to reach USD 63.1 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 16.8% from 2024 to 2031.

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Rising demand for automation in the healthcare sector and rising investment in medical robot research and development can drive the market growth over the forecast period.The market is witnessing several innovations that are expanding medical robot applications in areas like surgery, rehabilitation and elderly assistance. Surgical robots have emerged as a vital part of minimally invasive surgery and their use is being explored for applications beyond gynaecology and urology. With continuous technological advancements, medical robotic systems are becoming more affordable and user-friendly.

Rising demand for minimally invasive surgery

Growing aging population and rising prevalence of chronic diseases can boost demand for surgical procedures. Patients prefer surgical options that reduce treatment time and promote faster recovery. Minimally invasive surgery addresses both these needs by utilizing specialized robotic systems that allow surgeons to perform complex operations through small incisions instead of conventional open surgery. Robotic systems provide surgeons with enhanced visualization, improved dexterity and accuracy through their automated surgical arms. This translates to less post-surgical pain and trauma for patients, shorter hospital stays and lower risks of surgical site infections as compared to open surgeries. The benefits of robotic surgery have been widely recognized in procedures like organ transplants, cardiac bypass, prostatectomy for prostate cancer treatment and hysterectomies. More hospitals and healthcare facilities are now equipping their operating rooms with robotic surgical systems to meet the growing demand and stay competitive. For instance, in March 2023, Apollo Hospitals completed 10,000 surgeries using robotic assistance. A recent press statement reveals a remarkable surge, with a more than 400% increase in robotic-assisted procedures performed over the past two years across their hospitals in India. The healthcare provider has also expanded robotic-assisted procedures to more than 20 specialties, solidifying its position as a leader in advanced surgical solutions in the country.

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Technological advances expanding applications

Constant technological innovation broadens the scope of medical robotic systems. Newer generations of robotic platforms feature more sophisticated sensory and imaging capabilities, more dexterous surgical tools as well as built-in intelligence and machine learning. Advancements in areas like computer vision, virtual reality simulation, autonomous navigation and human-robot interface design empowers robots to take on increasingly complex surgical tasks. Miniaturization of robotics technology enables new flexible and modular systems that can navigate the human body through small access points. As robotic systems gain enhanced abilities, new surgical applications that were previously not possible are emerging. Areas witnessing expanding roles of robotics include transoral surgeries, natural orifice translumenal endoscopic surgery (NOTES), less invasive brain surgeries and interventional radiology procedures. Robotics assist rehabilitation therapies through tasks like stroke recovery training. With continuous evolution in robotics and AI, entirely new medical procedures and treatment paradigms are expected to emerge.