Robotics, Farmers, and Doctors
Updated: Dec 14, 2021
A robot can be defined as a mechanical or virtual intelligent agent that performs tasks automatically or with guidance, typically by remote control. Robotics is useful in a wide range of fields such as retail, agriculture, assistive & medical technologies and more. The Global Robotics Market was valued at USD 27.73 billion in 2020 and is expected to reach USD 74.1 billion by 2026, registering an average compound annual growth rate (CAGR) of 17.45%, during the period of 2021-2026. The rising demand for industrial robots has been triggered by the workforce shortage, owing to the COVID-19-related lockdowns and an upgrade of traditional industries. According to the National Bureau of Statistics data, in June 2020, China's industrial robot production increased by 29.2% year-on-year, reaching 20,761 units in the first half of 2020. China, nowadays, still maintains its leader position over the United States and Europe. Among the several robotics applications, stand out professional service robots in sanitizing, drone delivery and farming applications as well as personal and domestic use robots including floor cleaners which are projected to grow at a 28 % CAGR over 2020-2023 and at a CAGR of 23 % over the same period respectively.
Let us now take a look at some applications more in details.
Numerous benefits come from the use of agricultural robots such as:
Job Variation: Farming robots can perform various repetitive jobs like weeding, sowing, fertilizing, and spraying.
Bring Automation: Robots can act as an automatic self-control system and function as efficient fertilizer or liquid sprays using navigation algorithms and machine vision.
Fewer Errors: Compared to humans, robots can be programmed to make fewer errors.
Higher Efficiency – As the robots can discern features using 3D computer vision and GPS, they efficiently manage geographical obstacles like trees, ponds, and rocks.
Monitor Agricultural Health – Robotic cameras can identify pests and parasites, detect weeds, and enable the farming robots to spray the specific area with pesticides.
Good ROI: By enhancing production yields, agricultural robots increase the return on investment, thereby making farming a profitable venture.
Despite the great benefits from using agricultural robots, there are some disadvantages. Robots are costly specialized machinery that require much effort to upkeep. The Agri-robots need an enormous amount of R&D to be continuously improved and updated which requires investment.
The total revenue generated in the robotics surgery in 2020 was $3.8 billion USD.
The major products and services in this industry include
General surgery equipment
Noninvasive radiosurgery equipment
The main activities of this industry are
Research and Development (R&D)
Testing for and gaining US Food and Drug Administration approval
Robotic surgery equipment manufacturing
The largest player in the market is Intuitive Surgery, with a 66% market share, raking in 2.529.6 million USD in 2020. Overall, the US represents the largest market for robotic-assisted surgery equipment, and it is predicted that the orthopedics market in the US will grow by 18% in 2021 following an 11% decline in 2020, partially influenced by surgical robotics. Over the past five years, surgeons are withdrawing from open surgeries, which require larger incisions, and moving toward more minimally invasive procedures.
Surgical site infections account for an estimated 22.0% of healthcare infections, according to the CDC. Robotic surgery requires less tissue to be exposed than open surgery, infection rates are lower and, as a result, robotic surgery, which has been linked to lower infection rates, has been a lucrative option for many hospitals. Moreover, robot-assisted surgery requires fewer personnel in the operating room, permitting hospitals to more efficiently allocate their staff.
Overall, minimally invasive procedures, including robot-assisted surgeries, typically result in less patient bleeding, less pain, shorter hospital stays and faster recovery times. Additionally, surgeons may prefer robot-assisted surgeries due to greater precision and superior visualization from 3D imaging that provides real-time feedback.
Robotics have been proved to be the next step in many industries such as agriculture and healthcare. Although there are barriers such as high-costs, there is no doubt robotics are the future.
Thank you for reading and we look forward to working with you!