Press release
Medical Robotics Market Report Explores Growth Rate, Strategies, and Market Scope || Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, GE Healthcare
Medical Robotics Global Market Report 2024
The Business Research Company offers in-depth market insights through Medical Robotics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The medical robotics market size has grown rapidly in recent years. It will grow from $12.76 billion in 2023 to $14.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increasing demand for precision and accuracy, increasing acceptance of minimally invasive surgery, growth in chronic diseases, investment in research and development, expanding applications in healthcare.
The medical robotics market size is expected to see rapid growth in the next few years. It will grow to $29.22 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to consumer demand for improved healthcare, regulatory support and standards, accessibility and affordability, demand for remote surgery and telepresence, integration with AI and machine learning. Major trends in the forecast period include patient-centric robotics development, advancements in surgical techniques, rise in minimally invasive surgeries, growing role in rehabilitation, demand for telepresence and remote surgeries.
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Market Segmentation:
The medical robotics market covered in this report is segmented -
1) By Product: Surgical Robotics Systems, Rehabilitation Robotics Systems, Non-invasive Radiosurgery Systems
2) By Application: Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery, Pharmacy Applications
3) By End-User: Hospitals And Clinics, Specialty Centers, Rehabilitation Centers
Major Driver - Surging Preference For Minimally Invasive Procedures Fuels Growth In The Medical Robotics Market
The rising preference for minimally invasive surgery (MIS) is significantly contributing to the growth of the medical robotics market. Minimally invasive surgery refers to surgery that involves a variety of techniques, including applications of medical robots to operate with less damage to the body than with open surgery. There is a rise in minimally invasive surgeries as they are increasingly being preferred by patients due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, and others. For instance, results of the research, conducted by Johns Hopkins investigators and published in JAMA Surgery, indicate that American hospitals could collectively prevent thousands of post-surgical complications and save between $280 million and $340 million a year by using more minimally invasive procedures instead of traditional open surgery for routine operations of the appendix, colon, and lungs. Similarly, in September 2023, according to the American Society of Plastic Surgeons, a US-based plastic surgeons' professional organization, 26.2 million minimally invasive and surgical treatments were carried out in the US. Therefore, the rising preference for minimally invasive surgery drives the medical robotics market.
Competitive Landscape:
Major companies operating in the medical robotics market report are Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, GE Healthcare, Philips Healthcare, Boston Scientific Corporation, Intuitive Surgical, Smith & Nephew plc, BD Rowa, KUKA Roboter GmbH, Varian Medical Systems, Kirby, Omnicell, Auris Health Inc., iRobot Corporation, Globus Medical, Hansen Medical, Renishaw plc, Accuray Inc., Kinova Robotics, Hocoma AG, Titan Medical Inc., Ekso Bionics, TransEnterix Inc., ReWalk Robotics, Mazor Robotics, Houston Medical Robotics, ARxIUM, Medrobotics Corporation
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Top Trend - Innovate With Robotic Platforms In The Medical Robotics Market
Major companies operating in the medical robotics market are focusing on innovative products, such as robotic platforms, to better meet the needs of their existing consumers. A robotic solution is an all-encompassing application or solution that uses robotic technology to meet specific jobs, issues, or demands. For instance, in May 2023, Robocath, a France-based company that manufactures and markets medical robotic solutions for heart-related diseases, launched an innovative robotic platform called the R-One+. The R-One+ robotic system enables interventional cardiologists to execute coronary angioplasties by operating the devices employing a centralized control command unit in the cathlab or control room. This option offers two primary advantages. Initially, it shields the cardiologist and the medical staff from radiation-related harm, and secondly, it facilitates and secures the PCI process. Cardiologists may now execute improved hand gestures with higher precision and in more conducive working settings, which helps patients.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Robotics Market Characteristics
3. Medical Robotics Market Trends And Strategies
4. Medical Robotics Market - Macro Economic Scenario
5. Medical Robotics Market Size And Growth
…..
27. Medical Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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