An aging population and accompanying retirements will cause a significant physician shortfall of 55,000 to 150,000 by 2030, creating a gap in the healthcare system. Expanding the role of autonomous robots can mitigate the shortage. The healthcare sector is expected to expand rapidly with the decentralization of institutions bringing about more offerings with robotic surgeries. Given the growing incidence of lifestyle diseases and demand for affordable healthcare, effective surgery using robotic devices can result in a decline in treatment costs and drive the growth of the global robot-assisted surgical devices (RASD) market.
These are the latest findings of Research and Markets (Dublin, Ireland), a leading market research store.
The adoption of robotic technology has improved the capabilities of surgeons through better ergonomics, motion scaling, and tremor filtration. The need for experience before robotic surgery remains debatable. However, the transition from a laparoscopic surgeon to a robotic surgeon is associated with a shorter learning period. Hence, several medical academic and research institutes in the US and Europe now offer robotic surgery training programs to ensure more surgeons have the required expertise and skills with a shorter learning curve. Hospital spending on capital equipment recorded an upswing early in 2021, signaling a stronger outlook for surgical procedures guided by robotic systems in the coming years. Hospital finances seem to be significantly healthier than they were after the economic downturn following the COVID-19 pandemic onset.
The global RASD market is expected to be driven by increased demand for patient-specific surgeries as well-informed patients are demanding surgeons for personalized therapies and implant procedures. Patients are also demanding maximum comfort while requiring minimum physical supervision. Thus, the focus is shifting to technologies that involve lesser hospital time for patients and lead to quicker recoveries. The need of the hour is reducing surgery times, better efficiencies, and optimized outcomes which can be achieved by robot-assisted surgical devices.
Additionally, the shift toward payments based on quality plus cost over procedure-based reimbursement is likely to change the way medical technologies are evaluated and purchased. These changing reimbursement trends are likely to benefit the global RASD market. Geographically, the RASD market in the emerging economies is expected to grow at a faster pace as large orthopedic participants are focusing on Asia-Pacific and other emerging economies that are projected to grow 2 to 3 times faster than the developed markets.
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