The robotics market, which earned a valuation of around $30 billion in 2020, is poised to become a $70 billion global business by 2026. Not every industry analyst agrees that only half a decade will have generated that much more interest in robotics, but most concur that robotic devices aren't going away any time soon and exponential growth is certainly possible. AI and machine learning advancements promise to bolster the efficiency—and relevance—of these products, which are mainly popular for their ability to outpace humans in reliability, accuracy, and cost efficiency.
Although the robotically-assisted surgical (RAS) device sector has been somewhat monopolized by a handful of companies, new players operating at lower costs are bound to shake up the status quo. It's not a free-for-all, though, as competitive pricing will ultimately keep the industry as highly consolidated as it currently is.
This year's overall investment in robotics totals to over $1 billion, $600 million of which was allocated to CMR Surgical. Private capital investors are keeping track of labor trends and demographics to get a feel for the industry's short and long-term potential. An aging over-65 population, coupled with a surgery-specialist workforce that is rapidly approaching retirement age, makes for a promising future of RAS device adoption.