NEW YORK, Aug. 8, 2022 /PRNewswire/ — As per Zion Market Research study, The global medical robotics systems market size was worth USD 15,295.20 million in 2021 and is estimated to grow to USD 38,834 million by 2028, with a compound annual growth rate (CAGR) of approximately 16.80 percent over the forecast period.
Medical Robotics Systems Market: Overview
IT-enabled healthcare, also known as medical information technology, is a subset of information technology that deals with developing, designing, creating, and maintaining information systems in hospitals, clinics, and other healthcare facilities. Healthcare IT has multiple benefits and possibilities for improving and transforming healthcare, including improving clinical outcomes, minimizing human error, improving clinical efficiency, facilitating care coordination, and long-term data monitoring. Due to a large number of smartphone users and the increasing penetration of technology, the demand for telemedicine and mHealth solutions is increasing. Favorable government policies and support for medical IT solutions are driving the market growth. Big data adoption is increasing with the growing need to reduce rising medical costs along with increasing adoption of EHR and other HCIT solutions. On the other hand, the high deployment costs of IT-assisted healthcare and the lack of adequate in infrastructure in developing countries can hinder market growth.
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Key Industry Insights & Findings of the Medical Robotics Systems Market Reports:
- As per the analysis shared by our research analyst, the Medical Robotics Systems Market is expected to grow annually at a CAGR of around 16.80% (2022-2028).
- Through the primary research, it was established that the Medical Robotics Systems Market was valued at approximately USD 15295.20 million in 2021 and is projected to reach roughly USD 38834 million by 2028.
- According to a 2018 article on laparoscopic hysterectomy gynecological studies, the conversion rate from straight stick laparoscopic surgery to open surgery was 25%.
- The association states that introducing robotic surgery for all hysterectomies will increase the annual cost of hysterectomy in the United States by an estimated $960 million.
- Emerging markets are expected to provide significant opportunities for players in the global medical robotics systems market, primarily due to the increasing adoption of surgical robots in surgery.
- North America has the largest global share in the medical robotics systems market due to the increasing technological advances of medical robots by medical companies and the increasing demand for these robots to perform laparoscopic surgery.
- Increased investment by key players in the growth of advanced devices, an increase in the number of patients opting for minimally invasive surgery, and an increase in the number of research activities in the region are likely to drive the market in Asia Pacific.
Zion Market Research published the latest report titled “Medical Robotics Systems Market by Product & Service (Instrument & Accessories, Robotic Systems, and Services), by Application (Laparoscopy, Orthopedic Surgery, Pharmacy Applications, Physical Rehabilitation, External Beam Radiation Therapy, Neurosurgery, and Other Applications), by End User ( On-premise solutions, Cloud-based solutions, Hospitals, Ambulatory Surgery Centers, Rehabilitation Centers, and Other End Users), and by Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.“ into their research database.
Medical Robotics Systems Market: Growth Drivers
- Advantages of robotic-assisted surgery & robot-assisted training in rehabilitation therapy to drive market.
Growing demand for minimally invasive surgery (MIS), primarily because of the benefits of these procedures, such as savings. Minimally invasive robotic surgery contributes to these benefits by ensuring higher accuracy and reproducibility, as well as better control and efficiency. According to a 2018 article on laparoscopic hysterectomy gynecological studies, the conversion rate from straight stick laparoscopic surgery to open surgery was 25%. On the other hand, procedures using robotic platforms usually show conversion rates of less than 5%, reducing morbidity and blood loss. Robotic surgery also provides the surgeon with advanced visualization capabilities that provide a superior view of the surgical field by visualizing the structure down to the microscopic level using an HD camera.
Medical Robotics Systems Market: Restraints
- High price of robotic systems to limit the market growth.
Robotic surgery is much more…