The robotics industry is accelerating at a great pace across multiple industries, and healthcare is no different.
Globally, the robotics industry is growing at a compound annual growth rate (CAGR) of 29% and will be worth $568bn by 2030, according to analysis by GlobalData.
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One of the most valued areas of robotics in healthcare is surgical procedures. The surgical robotics market was worth $8.6bn in 2022 and is projected to reach $10bn globally by the end of this year.
The market is expected to grow at a CAGR of 8% to hit $15.8bn by 2030, as the industry shifts to less invasive options.
Kiran Raj, practice head of disruptive tech at GlobalData, says: “Companies are investing heavily in proprietary robotic technologies, integrating advanced AI systems to reduce dependency on external platforms and enhance their operational efficiencies.”
Intuitive Medical’s daVinci system is perhaps the most well-known robot in the space and dominates the market. As AI becomes more seamlessly integrated into robotics, many companies are on the rise. Medical Device Network looks at some of the companies with clinical trial activity so far this year.
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By GlobalDataMicrobot
Microbot has been busy securing sites for a human clinical trial of its Liberty robotic system. The device, which received US Food and Drug Administration (FDA) clearance last month, is a single-use endovascular system that aims to increase procedure efficiency.
Last year, the company secured NIS1.62m ($440,000) in funding from the Israel Innovation Authority to advance manufacturing processes for the system.
Vitestro
Netherlands-based Vitestro reported positive results from a trial evaluating its autonomous blood-drawing device in May 2024. The results, which were from the pivotal phase of the Autonomous Blood Drawing Optimization and Performance Testing (ADOPT) study (NCT05878483), met its primary endpoint. The AI-augmented system aims to reduce the need for manual handling of blood draws, helping ease workloads.
J&J
J&J MedTech is eyeing a clinical trial for its OTTAVA robotic surgical system. The company said it plans to submit an investigational device exemption (IDE) application to the FDA in the second half of 2024. Approval would allow the robot, which can be incorporated into any operating room, to be used in clinical trials later this year.
Ronovo Surgical
Ronovo Surgical closed a $44m Series B round in June 2024. The US company emerged from stealth in February last year with more than $50m in funding. Ronovo completed a first-in-human trial in September 2023. It recently launched its first international site, the Ronovo Institute of Surgical Excellence in Florida. The goal of the site is to deepen clinical collaboration with international surgical experts and medical societies.
Future outlook
Despite the sector’s growth, there remain several hurdles to the long-term implementation of robots across industries.
GlobalData project manager for disruptive tech Saurabh Daga says: “Although robotics has enormous potential to change many industries, obstacles, including cybersecurity, interoperability, and expensive implementation costs prevent them from being fully integrated.”
