Medical robotics is the next big thing.
From humble beginnings, robotics has become woven into medical care in a major way. It is involved in patient care solutions, surgical procedures, and other critical functions.
Through the increasing use of robotic technology in medical practice, we’re now able to make more accurate incisions, reduce patient stay within hospitals, and greatly ramp up precision.
And by 2018, this sector is estimated to become a booming $1.53 billion industry.
Global Industry Analysts, a leading market research concern, has come out with a report analyzing the use of robotics in medical procedures. They discovered a booming industry that is quickly gaining widespread acceptance and for which the demand is rapidly increasing.
Yet despite the obvious promise of robotics, the report noted, startup costs are high, and that’s preventing a more widespread adoption of robotic technologies into medical solutions. Small operators find it impractical to acquire both the technology and the regulatory approvals.
Another issue is that different cultures have viewed robotic involvement with humans differently. The rates of adoption and the degrees of acceptance of robotics in our lives vary across nations and cultures. Nevertheless, most countries are eager to experience the benefit of robotics in medical solutions.
In the U.S., advanced healthcare is seen as the next big frontier as the baby boomer generation progressively exits the workforce.
The current economic downturn has thrown in some setbacks. Investors are wary of more speculative industries. But the report still expects the industry to surge.
The Global Industry Analysts report puts the price tag of $1.53 billion on the industry by 2018.
The findings largely indicate that the fastest-growing area within medical robotics is that of minimally invasive surgery and that the Asia-Pacific region shows the most rapidly developing market for medical robotics.
It names some major companies to watch out for in this sector, including Accuray Inc. (NASDAQ: ARAY), Epson Robots, Hansen Medical Inc. (NASDAQ: HNSN), and Intuitive Surgical Inc (NASDAQ: ISRG).