One in three surgeries will use robots within the next five years
BII
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Robots are set to take over the operating room in the coming years, as experts predict that robots will be involved in one of every three surgeries conducted in the United States within the next five years, Fortune reported.
Robot manufacturers will also look to expand the use of robotics in surgery in India, China, and other emerging markets.
The robotics market for surgical applications has been dominated by Intuitive Surgical, which has more than 3,600 of its da Vinci surgical robots deployed in hospitals across the globe. In 2015, Intuitive Surgical’s robots were used in over 670,000 surgeries. The robots are most commonly used in hernia repairs, bariatric surgery, hysterectomies, and prostate removals, according to Reuters.
The high cost of surgical robots is holding back adoption though. For example, the Intuitive Surgical robot costs approximately $1.5 million. But cheaper robotics solutions could be on the horizon. In December 2015, Johnson & Johnson and Alphabet’s Verily Life Sciences division partnered to create a surgical robot that they expect will be both smaller and less expensive than any currently on the market.
Businesses throughout the world are increasingly using robots to automate portions of their workflow.
Traditionally, robots have been used primarily in manufacturing. But other industries including healthcare, shipping and logistics, food services, retail, hospitality, and more are starting to also use robots. For example, hospitals are using robots to assist in surgery, retail stores are testing robots to take inventory, and warehouses are using robots help sort packages.
John Greenough, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on enterprise robotics that examines the rising use of robots across many industries. It examines top use cases, market leaders, growth drivers, potential for workforce automation, the top barriers, and includes market forecasts on shipments and investment in robots between 2015-2021.
Here are some of the key takeaways from the report:
- We expect enterprise robotic shipments to nearly triple between 2015-2021.
- Manufacturing will continue to be the top adopter of robots. A recent Boston Consulting Group (BCG) survey found 44% of US manufacturers and 66% of German manufacturers plan to install autonomous robots and assistance systems within the next five years.
- Rising wages around the world is just one of the key reasons enterprises are beginning to leverage robotics.
- Robots have the potential to displace jobs, meaning that while they might take some more labor intensive jobs they have the potential to create new jobs for working on robots.
In full, the report:
- Forecasts enterprise robotic shipments
- Identifies market leaders
- Discusses economic conditions leading to the rise of robots
- Examines the advantages of using robots
- Identifies five of the top barriers preventing robot adoption
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