Medical Robotic Systems Market Research Report: By Type, Application, Indication, End User - Global Industry Analysis and Growth Forecast to 2030

Medical Robotic Systems Market Research Report: By Type, Application, Indication, End User - Global Industry Analysis and Growth Forecast to 2030

  • September 2020 •
  • 204 pages •
  • Report ID: 5987934 •
  • Format: PDF
Medical Robotic Systems Market Research Report: By Type (Surgical, Automated Dispenser, Rehabilitation, Radiosurgery), Application (Treatment, Pharmacy Automation), Indication (Urology, Gynecology, Cardiothoracic Surgery, Orthopedics, Neurosurgery), End User (Hospitals and Ambulatory Surgery Centers, Pharmacies, Rehabilitation Centers) - Global Industry Analysis and Growth Forecast to 2030

The global medical robotic systems market is predicted to generate a revenue of $56.5 billion by 2030, increasing from $7.6 billion in 2019, progressing at a 20.2% CAGR during the forecast period (2020–2030), as stated by a report . The market is witnessing growth due to the rising need for robotic procedures, growing utilization of automated pharmacy, increasing geriatric population, which, in turn, is driving demand for elderly care, and surging healthcare and medical robotics expenditure.

On the basis of type, the market is divided into radiosurgery, surgical, rehabilitation, and automated dispenser, among which, the surgical division held the major share of the market during the historical period (2014–2019). The division is further expected to advance at the fastest pace and account for the major share of the market during the forecast period due to the rising requirement for minimally invasive robotic surgeries that need lesser effort and time, as compared to manual surgeries.

Another factor resulting in the growth of the medical robotic systems market is the increasing geriatric population. As per the United Nations’ report published in 2017, the number of people aged 60 years or above is expected to rise to 2.1 billion in 2050 and 3.1 billion in 2100. Because of the shortage in the number of caregivers and the increasing financial burden, there is a need for finding a more efficient way to provide medical services to the geriatric population. This can be done by using medical robotic systems.

In conclusion, the market is growing due to the surging geriatric population and rising requirement for robotic procedures across the globe.