Over $55,000.0 Million Revenue Expected in Global Medical Robotic Systems Market in 2030
The increasing geriatric population across the world is one of the key factors responsible for the surging usage of medical robotic systems. Moreover, the rising healthcare costs and dwindling number of healthcare providers and caregivers are significantly boosting the need for alternative caregiving methods. According to the American Association of Retired Persons (AARP), seven people in the age group 45–64 can provide care for every person aged 80 years and above, and this number will decrease massively by 2030, with only 4 people available for providing care for people aged 80 years and above.
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The other major factors pushing the adoption of robotics in the medical sector are the burgeoning use of automated pharmacy systems across the world and increasing demand for medical procedures. Since the last few years, there has been a massive surge in the adoption of automated systems in the healthcare and pharmaceutical sectors, in order to streamline the work processes and optimize the services. Propelled by these factors, the global medical robotic systems market revenue is expected to increase from $7,626.1 million in 2019 to $55,528.1 million by 2030, exhibiting a CAGR of 20.1% during the forecast period (2020–2030).
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In the healthcare sector, there are multiple types of robotic systems used, such as surgical, rehabilitation, radiosurgery, and automated dispenser systems. Amongst these, surgical systems are expected to record the highest usage during the forecast period. This is mainly attributed to the increasing preference for minimally invasive surgeries conducted by robotic systems, over the traditionally conducted surgeries, owing to their shorter operating times and lesser-labor-intensive characteristic. In addition to this, robotic surgeries result in lesser recovery time, lesser post-operative pain, and shorter stays at the hospitals.
Geographically, North America is expected to record the fastest growth in the adoption of medical robotic systems in the near future, mainly due to the presence of major and well-established manufacturers of such equipment in the region. In addition to this, the soaring investments being made by several public and private companies in order to enhance the functional efficiency of these systems and the rapidly expanding healthcare sector are expected to play important roles in fuelling the utilization of robotic systems in the region in future.
Hence, it is clear that owing to the swift advancements in the healthcare sector, rising need for automated healthcare systems, and surging geriatric population, the demand for medical robotic systems will boom in the coming years.
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