How Technological Advancements are Revolutionizing Robotics and Imaging Market
In the last two decades, the surgical market has transformed drastically, owing to the technological advancements occurring in the arena of medical devices. Medical robots have been developed to assist with several surgical applications. From Arthrobot, the world’s first-ever surgical robot was created in 1983, to Intuitive’s Da Vinci surgical system in 2000 signifies that the medical devices industry has witnessed a paradigm shift.
The use of robotics has carved its market in the minimally invasive surgical arena, and the technological advancements further pushed its demand to a great extent. Considering it offers high precision during surgery and has also reduced the time involved during surgical procedures. Imaging technologies additionally play an even more significant role in the surging demand for robotics surgery.
Imaging technology supports surgical requirements and has also enhanced the overall diagnostics methodology for the patients, as they help provide a better and exact scenario. Technologies such as magnetic resonance imaging (MRI) and computed tomography (CT) enable physicians to get a precise idea of the human body and organs, especially those that are generally not visible to the human eye. This technology is highly beneficial in case of tumor-related surgeries.
Analysts at BIS Research are dedicated to studying and understanding the latest developments in robotics and imaging to help their users make informed decisions for their business growth and expansion. BIS Research has deeply analyzed markets, including robotic surgery consumables, photoacoustic imaging market, tissue imaging market, point-of-care imaging devices, and AI-enabled imaging modalities, along with the regulatory and reimbursement scenario associated with robotic-assisted surgery. Each study contains details about the market, drivers, challenges, and opportunities responsible for market growth.
The robotic surgery consumables market is projected to grow at a CAGR of 11.37% during the forecast period from 2020–2030. Robotic surgery consumables are available for single-use and reusable variants in the market. The manufacturers often recommend single-use consumables that can be easily disposed of after each surgery. Reusable consumables are usually replaced after a certain number of procedures, approximately seven on average.
The photoacoustic imaging market to grow at a significant CAGR of 28.88% during the forecast period, 2019–2029. The field of photoacoustics has witnessed significant advancements. These include photoacoustic computed tomography (PACT), photoacoustic microscopy (PAM), handheld imaging devices, and customized contrast agents. The critical milestones covered in the study include the use of transducers for photoacoustic signal acquisition, the use of lasers for imaging biological tissues, along with the discovery of photoacoustic microscopy.
The study on tissue imaging market highlights that the market was estimated at $14.42 Billion in 2019. Market growth is driven by factors including rising incidence of disorders inciting tissue imaging, integrating digital technology with imaging technologies, and shifting focus toward a value-oriented healthcare model. The study further includes the different end-user industries that use tissue imaging technology, including biotechnology companies, pharmaceutical companies, contract research organizations, academic & research institutions, hospitals, and diagnostic laboratories.
Further, the BIS Research study on the point-of-care imaging devices market highlights that the market is estimated at $8.66 billion in 2019. The study includes the different technologies that are being used for POC imaging devices.
The artificial intelligence (AI)-enabled imaging modalities market is projected to grow at a CAGR of 23.32% during the forecast period 2020–2030. The rising radiologist workload, substantial R&D investments, and the growing complexities in clinical decision making are the major factors propelling market growth.
The analysts at BIS Research also undertook a study on the regulatory and reimbursement scenario of robotic-assisted surgery to understand the need to implement standardization on product quality and their related safety concerns. Due to the failures and product returns happening, the regulatory authorities keep a stringent check on the quality. The report also highlights that regulatory bodies across the globe generally have their classification systems for medical devices based upon the risk they carry and intended mode of usage, among others.