LONDON--(BUSINESS WIRE)--Technavio analysts expect the global healthcare robotics market to exceed USD 6 billion in 2019, growing at a CAGR of over 12%.
The global healthcare robotics market is predicted to grow due to the increasing use of robotic surgery in areas such as orthopedic surgery, neurosurgery, urology, and cardiology. Robotic surgery increases accuracy and minimizes the chances of error.
According to Bharath Kanniappan, a lead research analyst at Technavio for robotics, “Robotic systems are also used in rehabilitation and healthcare functions such as food service, medication distribution, infection control, and diagnosis of patients. They can reduce labor costs, add operational efficiencies, increase precision, offer better clinical outcomes, and replace human assistance in critical conditions.”
Technavio’s lead industrial automation market research analysts have identified the following four factors that will drive the global healthcare robotics market:
- Increase in demand for surgical robots
- Favorable government support
- Increasing investment in healthcare robotics
- Shortage of workforce in healthcare sector
Increase in demand for surgical robots
Traditionally surgery is slowly being replaced by robotic surgery in many advanced countries such as the US, UK, and Japan. Traditional surgery requires high precision, deep concentration, and significant expertise. Surgeons can be affected by numerous factors such as lack of sleep or too much caffeine that leading to shaky hands and increased risk of errors. However, robots are not affected by these factors and can handle the operations swiftly without making any error.
Surgical operation robots can reduce labor costs, add operational efficiency, increase precision, create positive clinical outcomes, and protect humans from potentially unsafe situations. Robots allow doctors to work more productively by assisting many complicated and difficult procedures that require extremely high skill and precision during the operation.
Favorable government support
Favorable government support to the healthcare sector in many countries globally has led to the growing implementation of robotics in the healthcare industry. Advanced countries such as the US, the UK, and Japan have actively supported the introduction of healthcare robotic systems by offering robots to older people as nursing assistants and companions for personal care.
“In developing countries such as India and China, governments are providing subsidies for installing and implementing robots in the healthcare sector so as to increase accuracy, efficiency and cost effectiveness,” says Bharath.
Increasing investment in healthcare robotics
Many healthcare centers are investing in robotics to minimize their costs in the long run. The increase in labor and staffing costs has reduced healthcare performance. For instance, in the US, the average cost of one employee amounts to USD 45-50 thousand.
Therefore, healthcare centers are investing in robots to reduce the high-cost of manual labor and increase flexibility in operations. They are investing in automatic guided vehicles for patient transport needs such as delivering meals, linens, nursing supplies, packages, sterile items, and picking up trash.
Shortage of workforce in healthcare sector
The workforce shortage in the healthcare sector is another driver for the healthcare robotics market. Currently, the shortage of nurses in hospitals and doctors with individual specialty has resulted in less availability of medical services.
The workforce in healthcare is lower in rural, remote, and non-metropolitan regions globally. Some countries in APAC such as India, Pakistan, and China are suffering from a scarcity of healthcare workforce. According to a WHO report, 83 countries fall below the threshold of 22.8 skilled healthcare professionals per 10,000 population and 100 countries fall below the threshold of 34.5 skilled healthcare professionals per 10,000 population.
Hence to overcome the workforce shortage in healthcare, several robotic companies have developed robots to make up for the shortage. For example, automated guided vehicles can handle the hospitals' large payload and help with on-demand and routine material transport activities.
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