June 21, 2024
global robotic medical imaging

The Rise of Digitization and Advanced Technologies Is Transforming Global Robotic Medical Imaging Market

The global robotic medical imaging market facilitates the use of robotics and automation for medical imaging purposes across diagnostic and surgical procedures. Robotic medical imaging systems offer advantages such as improved precision, reduced procedural time, and decreased risk of errors over manual methods. The growing geriatric population, rising instances of chronic illnesses, and increasing need for minimally invasive treatments are fuelling the demand for advanced robotic medical imaging solutions globally.

The Global Robotic Medical Imaging Market Size Is Estimated To Be Valued At US$ 10.0 Bn In 2024 And Is Expected To Exhibit A CAGR Of 13.% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the global robotic medical imaging are Intuitive Surgical, Inc., Accuray Incorporated, Zimmer Biomet Holdings, Inc., Siemens Healthineers AG, Medtronic Plc, GE Healthcare, Stryker Corporation, Titan Medical Inc., Hocoma AG, Mazor Robotics And Medrobotics Corporation. Robotic medical imaging players are focusing on launching innovative new products and solutions to capitalize on the growing demand. For instance, in 2023 Medtronic plc launched the Mazor X Stealth Edition—an updated robotic-assisted spine surgery platform.

The growing geriatric population globally is increasing the incidence of chronic diseases such as cancer and cardiovascular diseases, which is driving the demand for early detection and minimally invasive surgical procedures. Robotic medical imaging offers advancements like reduced radiation exposure, shorter procedure time, and higher accuracy and precision over traditional techniques. Various studies have shown robotic imaging can decrease radiation exposure by up to 88% during complex procedures compared to conventional alternatives.

The availability of funding and increasing healthcare investments to purchase high-end robotic technology in developing markets is fuelling the global expansion of the robotic medical imaging industry. For instance, in 2023 the Indian government announced US$ 6.8 billion in public healthcare spending to modernize facilities and procure state-of-the-art medical robots, C-arms, and other imported diagnostic imaging equipment. Regional players are also making strategic acquisitions of global robotic technology companies to cement their presence and capture a share in emerging international robotic healthcare markets.

Market Key Trends

The rising adoption of artificial intelligence (AI) and machine learning capabilities in robotic imaging platforms is a key trend in the industry. AI-enabled robots can capture a wealth of image data, recognize patterns for detection and diagnosis, and help surgeons with real-time analytics and feedback during complex procedures. Through AI, these robotic systems are expected to get smarter with continuous learning and improve clinical outcomes over time. For example, companies like Medtronic and Zimmer Biomet are equipping their newest robotic platforms with capabilities like automated implant selection and placement powered by ML algorithms. This digitization and automation are optimizing imaging workflows, enhancing accuracy, and reducing dependency on skilled radiologists—driving the global expansion of the robotic medical imaging market.

Porter’s Analysis

Threat Of New Entrants: Low setup costs and expertise would attract new players, however established brands have strong market presence and customer loyalty.

Bargaining Power Of Buyers:
Large hospitals and diagnostic chains have strong bargaining power due to bulk purchasing. However, need for precision and growing demand keeps sellers in a comfortable position.

Bargaining Power Of Suppliers: Few global players control key technology and expertise, giving them bargaining power over smaller local manufacturers. However, cross-licensing maintains competitive pressures.

Threat Of New Substitutes: Alternative medical imaging technologies continuously emerge but robotics offers unique benefits like minimally invasive surgeries and remote operations.

Competitive Rivalry: Intense competition amongst major players to develop advanced products and solution variants. Strategic collaborations and mergers are common to gain added capabilities.

Geographical Regions

North America holds the major share currently due to advanced healthcare systems and early technology adoption in the U.S. and Canada. Asia Pacific is fastest growing with increasing healthcare investments and expansion of medical tourism in countries like China, India and Japan.

Europe follows in terms of value led by affluent nations like Germany, France and the UK. Meanwhile, Latin America and Middle East & Africa offer lucrative prospects as accessibility to healthcare widens across emerging markets.

What are the key data covered in this Global Robotic Medical Imaging Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Robotic Medical Imaging Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Robotic Medical Imaging Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Robotic Medical Imaging Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Robotic Medical Imaging Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Robotic Medical Imaging market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Robotic Medical Imaging Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Robotic Medical Imaging market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it