Southern Europe & Middle East Medical Robotics Market Value to Reach US$ 836.3 Bn by 2031, as per TMR Study
- Increase in inclination of patients and medical professionals toward minimally invasive surgeries is projected to drive the medical robotics market in Southern Europe & Middle East
- Rapid adoption of technologically advanced equipment in the medical field has led to high demand for medical robotic systems
WILMINGTON, Del., Dec. 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 adopted in the healthcare industry in order to improve outcomes of open surgical procedures and overcome limitations present in minimally invasive surgeries. Robotic surgeries offer advantages such as lower risk of infection, reduced consequences, 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. Usage of surgical robotic systems is rising in surgical procedures such as urology, neurosurgery, orthopedic, gynecology, obstetrics, and general surgery. This is expected to present substantial opportunities in the market during the forecast period.
- Application of 3D ultrasound and magnetic resonance imaging has increased in the past few years. These technological breakthroughs are gaining popularity owing to their ability to offer real-time imaging, which is important in order to achieve effective procedure planning and easy future reference. Increase in adoption of highly sophisticated technologies to offer improved patient care is likely to augment the demand for medical robotics in the near future. The market is driven by increase in utilization of technologically advanced equipment by healthcare providers, rise in geriatric population, and increase in focus on robotics training for clinicians.
- Researchers are focusing on the development of 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 enhance health and quality of life of people living with disabilities. Furthermore, the need for robots that can serve as social companions to humans is rising across several developed countries. These factors present lucrative opportunities for market players.
- Expenditure on advanced healthcare has increased globally. Healthcare organizations are investing significantly in medical robots. These factors are expected to bolster the medical robotics market during the forecast period.
- Telepresence robots are gaining popularity owing to their ability to assist people in providing medical care in remote locations, where physicians are not available. Robots can be helpful for the elderly population at such locations, as these 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
- Increase in number of surgical procedures across the world is anticipated to fuel demand for medical robotics
- Shortage of skilled medical personnel across developed and developing countries presents significant opportunities in the market
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Growth Restraints
- Medical robotic systems are highly expensive. This has led to muted adoption of these new devices in underdeveloped and cost-sensitive countries.
- Lack of favorable reimbursement policies is resulting in less demand for robotic systems
- High cost of robotic system could lead to increase in the 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 in order to develop cost-efficient medical robots
- Companies are investing in R&D activities to incorporate technological advancements in robotic systems
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Medical Robotics Market: Key Players
- Asensus Surgical, Inc.
- Accuray Incorporated
- Intuitive Surgical, Inc.
- Avateramedical GmbH
- KUKA AG
- Johnson & Johnson Services, Inc.
- Renishaw plc
- Medtronic plc
- Stryker Corporation
- Smith+Nephew
- Zimmer Biomet
Medical Robotics Market Segmentation
- Component
- Systems
- Instrument & Accessories
- Services & Others
- Application
- Gynecological Surgery
- Urological Surgery
- General Surgery
- Orthopedic Surgery
- Others
- End-user
- Hospitals
- Ambulatory Surgical Centers
Region
- Southern Europe
- Middle East
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