Medical Robotic Systems Market Analysis, Share, Growth and Future Scope

The medical robotic systems market 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.

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 conclusion, the market has been registering growth due to the rapid technological advancements, rising acceptance of medical robotic systems, and surging aged population.