Minimally Invasive Medical Robotics Market to Reach USD 6.7 Billion by 2028

Vantage Market Research

Nov 12, 2021

According to a new report by Vantage Market Research, the Minimally Invasive Medical Robotics Market is expected to reach USD 6.7 Billion by 2028, growing at a CAGR of 9.1% from 2021 to 2028. Rising healthcare spending and investments are expected to augment the growth of the market over the forecast period.

Key Findings:    

  • The neurological surgery segment is projected to grow at a CAGR of over 14.31% over the forecast period owing to the increasing availability of the base population.
  • The balloons segment for the product segment of the minimally invasive medical robotics market is anticipated to dominate the segment, further leading to the growth of the market. The growth is attributed, owing to the rise in the number of patients of respiratory/ENT surgeries.
  • North America is expected to expand at a CAGR of over 12.38% from 2021 to 2028. This surge is attributed to the rising base population from countries like the U.S.

Some of the key players in the 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.

Development is the continuous proves. Minimal invasive treatment has been trending last few years. To which introduction of the robotics has made it more effective. The Swift pace of industrialization, growing demand from the medical sector, and increasing adoption of robot operating systems by healthcare professionals drive the growth of the market expeditiously. Innovative technology in the field of surgical devices in minimally invasive procedures will support the market growth. Moreover, advancement in technology, increasing adoption, the rising spending power of the people, and various funding by the government have driven the growth of the market. On the other hand, poor reimbursement policies and a lack of skilled professionals may likely restrain the growth of the market.