Southern Europe and Middle East Medical Robotics Market Value to Reach US$ 836.3 Billion by 2031, According to TMR Study | Popgen Tech
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- Increase in propensity of patients and medical professionals towards minimally invasive surgeries is expected to drive the medical robotics market Southern Europe & middle east
- Rapid adoption of technologically advanced equipment in the medical field has led to a huge demand for medical robotic systems
WILMINGTON, Del., December 20, 2022 /PRNewswire/ — The medical robotics market in Southern Europe & middle east is projected to grow at a CAGR of 11.5% from 2021 to 2031, as per market outlook presented in the report by Transparency Market Research (TMR).
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Key findings
- Surgical robots are increasingly being adopted in the healthcare industry to improve the outcomes of open surgical procedures and overcome limitations present in minimally invasive surgeries. Robotic surgery offers advantages such as lower risk of infection, reduced side effects, faster recovery and shorter hospital stay. Moreover, these surgical procedures are less painful. Thus, medical facilities and centers are increasingly adopting these surgical procedures instead of standard surgical procedures and treatments. The use of surgical robotic systems is increasing in surgical procedures such as urology, neurosurgery, orthopedics, gynecology, obstetrics and general surgery. This is expected to provide significant opportunities in the market during the forecast period.
- Application of 3D ultrasound and magnetic resonance imaging has increased in recent years. These technological breakthroughs are gaining popularity due to their ability to offer real-time imaging, which is important for effective procedure planning and easy future reference. Increase in the adoption of highly sophisticated technologies to provide improved patient care is likely to increase the demand for medical robotics in the near future. The market is driven by an increase in the use of technologically advanced equipment by healthcare providers, an increase in geriatric population, and an increase in focus on robotics training for clinicians.
- Researchers are focusing on developing advanced collaborative robots that can work with humans. Majority of developed and developing countries are increasing investment in medical robotics. Researchers are developing robots that can improve the health and quality of life of people with disabilities. Furthermore, the need for robots that can serve as social companions for humans is increasing across several developed countries. These factors provide profitable opportunities for market players.
- Spending on advanced healthcare has increased worldwide. Healthcare organizations are investing significantly in medical robots. These factors are expected to boost the medical robotics market during the forecast period.
- Telepresence robots are gaining popularity due to their ability to help people provide medical care in remote locations, where doctors are not available. Robots can be useful for the elderly population at such places as they can work as companions and make life easier and enjoyable. These advancements are likely to drive market expansion in the near future.
Medical Robotics Market: Growth Drivers
- An increase in number of surgical procedures across the world is expected to fuel the demand for medical robotics
- Shortage of skilled medical personnel in developed and developing countries presents significant opportunities in the market
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Growth restrictions
- Medical robotic systems are very expensive. This has led to muted adoption of these new devices in underdeveloped and cost-sensitive countries.
- Lack of favorable refund policies leads to less demand for robotic systems
- High cost of robotic system can lead to increase in total cost of surgery. This factor is likely to limit market growth.
Competition Landscape
- Market players have adopted the strategy of acquisitions to gain leadership position
- Industry leaders are collaborating with scientists to develop cost-effective medical robots
- Companies invest in R&D activities to incorporate technological advances in robotic systems
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Medical Robotics Market: Key Players
- Asensus Surgical, Inc.
- Accuray Incorporated
- Intuitive Surgical, Inc.
- Avateramedical GmbH
- AG KUKA
- Johnson & Johnson Services, Inc.
- Renishaw plc
- Medtronic plc
- Stryker Corporation
- Smith+Cousin
- Zimmer Biomet
Medical Robotics Market Segmentation
- Component
- Systems
- Instrument and accessories
- Services and others
- Application
- Gynecological Surgery
- Urological Surgery
- General Surgery
- Orthopedic Surgery
- Other
- End user
- Hospitals
- Ambulatory Surgical Centers
Region
- Southern Europe
- middle east
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