Minimally Invasive Medical Robotics Market

The global Minimally Invasive Medical Robotics Market is valued at USD 4.5 Billion in 2022 and is projected to reach a value of USD 11.62 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 13.3% between 2023 and 2030.

Premium Insights

The number of medical robots used for intervention and diagnosis has increased worldwide. Robotics and automation solutions are increasingly being used in medical and pharmaceutical research labs, where they are automating manual, repetitive, and high-volume tasks so that scientists and technicians can concentrate on more strategic tasks to ensure discoveries happen more quickly. Additionally, hospitals in the US and Europe have quickly adapted robotic surgery to treat a variety of illnesses. One of the most popular clinical robotic surgical systems has mechanical and camera arms with associated surgical instruments. Biopsies, the removal of cancerous tumors, the restoration of heart valves, and gastric bypasses are a few procedures that can be assisted by robots.

• Manufacturers of medical devices increase their R&D efforts to create novel solutions. For instance, a Shanghai-based robotics company created a four-arm laparoscopic surgical robot in September 2022 to assist surgeons in doing difficult procedures in constrained settings.
• North America generated more than 41.5% of revenue share in 2022
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
• Surgical Robots segment accounted for the largest market growth. It contributed over 34.9% of the total revenue share in 2022 due to the increasing adoption of robotic-assisted procedures and advancements in surgical technology.
• Neurosurgery segment revealed the most significant market growth, contributing more than 32.2% of the total revenue share in 2022
• Hospitals segment accounts for largest revenue of 38.6% in 2022

Economic Insights

The Minimally Invasive Medical Robotics has grown significantly. The demand for minimally invasive surgical treatments, which account for a 60–70% reduction in hospital stays and result in cost savings of 20–30% for healthcare systems, is driving this growth. Even though the upfront cost of using modern robotic technologies can be high, studies have shown that there can be up to a 40% reduction in post-operative problems and a 15-20% reduction in overall treatment expenses.

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Top Market Trends

• Increasing adoption of robotic-assisted surgery in new surgical applications: Currently, a variety of treatments, including urological, gynecological, cardiac, and thoracic surgeries, use robotic assistance. However, there is still a significant chance that it will be used in fields including pediatric surgery, orthopedic surgery, and neurosurgery.
• Development of more affordable and user-friendly robotic systems: Robotic system adoption has been hampered in some environments by their high cost. Robotic-assisted surgery, however, may become more accessible to a larger spectrum of patients as more businesses work to create more cost-effective and user-friendly devices.
• Use of artificial intelligence (AI) and machine learning in robotic surgery: Robotic systems are performing better thanks to AI and machine learning in a variety of ways, such as by offering real-time image advice, automating activities, and foreseeing potential problems.
• The development of robotic systems for personalized medicine: Robotic delivery systems are being created to administer medications and treatments to certain body targets. The efficiency and effectiveness of therapy for cancer and other diseases could be enhanced by this technology.

Market Segmentation

Minimally Invasive Medical Robotics The global Minimally Invasive Medical Robotics market can be categorized into Product , Application , End user, Region . The Minimally Invasive Medical Robotics market can be categorized into Rehabilitation Robots , Surgical Robots , Hospital and Pharmacy Robots , Others based on Product . The Minimally Invasive Medical Robotics market can be categorized into Neurosurgery, Orthopedic , Laparoscopy , Gynaecology , Others based on Application . The Minimally Invasive Medical Robotics market can be categorized into Hospitals, Ambulatory Surgery centers, Rehabilitation Centers, Others based on End user. The Minimally Invasive Medical Robotics market can be categorized into North America, Europe, Asia Pacific , Latin America, Middle East & Africa based on Region .

Based on Product

Surgical Robots holds the largest share

The Minimally Invasive Medical Robotics market is expected to be dominated by the surgical robots segment due to wide range of treatments, including urological, gynaecological, cardiac, and thoracic surgery, increasingly using robotic-assisted surgery.

Based on Application

Neurosurgery will dominate the market during Forecast Period

The minimally invasive medical robots market is anticipated to be dominated by the neurosurgery application segment due to variety of benefits over open surgery, including smaller incisions, reduced discomfort, and quicker recovery times.

Based on End-user

Hospitals will account for largest market share

In terms of end-users, hospitals are anticipated to hold the greatest market share for Minimally Invasive Medical Robotics due to primary suppliers of surgical services and have the financial capacity to invest in robotic systems, provide these services.

Based on Region

North America will lead the market

North America is expected to dominate the market for Minimally Invasive Medical Robotics due to its early adoption of robotic-assisted surgery. A significant concentration of well-funded hospitals and clinics, as well as the availability of skilled surgeons with a focus on robotic-assisted surgeries, support this leadership. The advantageous reimbursement practices further support North America's leading position in the business.

Competitive Landscape

The global Minimally Invasive Medical Robotics market is fragmented, including a diverse array of the presence of several key players, ranging from established robotic technology and manufacturers to emerging companies specializing in treatments. Additionally, partnerships between medical institutions and robotic technology firms, like the one between Cleveland Clinic and Vicarious Surgical, signify the collaborative nature of the market. As the demand for minimally invasive procedures grows, companies are focusing on enhancing robot capabilities, improving surgical outcomes, and expanding their global presence to capitalize on the market's exponential growth potential.

The players in the global Minimally Invasive Medical Robotics market include Given Imaging, Boston Scientific Corporation, ArthroCare Corporation, GE Healthcare, Intuitive Surgical, Abbott Laboratories, Alphatec Spine, Applied Medical, Biomet, Hansen Medical, Covidien, Conmed Corporation among others.

Recent Market Developments

• September 2022: Titan Medical and Medtronic reached an agreement in September 2022 for a constrained development program. The company wants to explore gynecological operations as the initial application for its surgical robot, and Medtronic will assess the effectiveness of Titan's cameras and equipment in these procedures.
• June 2022: The U.S. Food and Drug Administration has approved the integration of a mobile cone-beam CT (CBCT) imaging technology and the Ion Endoluminal System used for robotic-assisted bronchoscopy, according to Intuitive, a global technology company and pioneer of minimally invasive care and robotic-assisted surgery.
• January 2022: In order to commercialize the Flex Robotic System for robot-assisted imaging in general surgical, gynecological, and thoracic operations in the United States, Medrobotics Corp., a medical robotics business, announced that it has gained FDA regulatory clearance. The company's achievement in creating revolutionary solutions for single-port general, gynecological, thoracic, and urological operations is reaffirmed by this clearance.

Segmentation of the Global Minimally Invasive Medical Robotics Market