Low Surgical Time to Bolster Global Medical Robotics Market

Medical robotics is a field dedicated to medical sciences which uses robots for assistance during surgeries and operational procedures. Rising number of surgical procedures across urological, cardiothoracic, and general segments will open up growth avenues for medical robots. The global medical robotics market report by Market Research Future (MRFR) entails trends, drivers, opportunities, and threats assisting interested investors in making their decisions.

Market Outlook

The global Medical Robotics Market Size is poised for a high valuation due to being touted to experience 20.8% CAGR from 2017 to 2023 (forecast period). Massive demand for accurate surgeries with low error rate and high precision is one of the major drivers of the market. Procurement of surgical robots by hospitals, prevalence of chronic diseases, and increased funding for medical robots are other growth drivers of the market. Integration of artificial intelligence and augmented reality which ease the burden on surgeons and boost surgical outcomes can entice hospitals towards the technology.

Advances of surgical robots amid increasing use of surgical robots can foster market growth during the forecast period. Advantages of robot-assisted therapy and shares offered by medical robot companies can facilitate market growth. Furthermore, the use of medical robots in the pharmaceutical industry to assist workers in harsh environments and prioritize their safety can fuel the market growth.

Competitive Outlook

·         Transenterix, Inc.,

·         Hocoma AG,

·         Auroba biomed Inc.,

·         Medrobotics Corporation,

·         ZOLL medical corp,

·         Hansen Medical, Inc.,

·         Kinova, Intuitive Surgical, Inc.,

·         Aethon Inc.,

·         Stryker Corporation,

·         Intouch Health Technologies, Inc.,

·         Titan Medical, Inc.,

·         Carefusion Inc.,

·         Mazor Robotics Ltd.,

·         Ekso Bionics Holdings, Inc.,

·         Roboter GmbH,

·         Medtech SA,

·         ReWalk Robotics,

·         Varian Medical System, Inc.,

·         Myomo Inc.,

·         Smith & Nephew Ltd.,

are notable players profiled in the global medical robotics market report. The market is characterized by new product launches, joint ventures, agreements, and partnerships.

Segmentation Analysis

The global medical robotics market is segmented by product and application.

Major products include

·         medical robotic systems,

·         hospitals & pharmacies,

·         rehabilitation services,

·         accessories, and

·         others.

Rehabilitation services can account for a considerable market share due to incidence of stroke, paralysis, or other diseases which render a person immobile. According to the Centers for Disease Control & Prevention (CDC), stroke is one of the leading causes of disability. Rehabilitation services which assist disabled people regain their gait is expected to drive the segment growth.

By application, it is segmented into

·         rehabilitation,

·         laparoscopy,

·         neurology,

·         cardiology, and

·         others.

The neurology segment is expected to induce high demand due to need for medical robots in neurosurgery.

Regional Analysis

Geographically, the medical robotics market comprises trends and opportunities at country and regional levels across the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

The Americas is estimated to dominate the market till the end of the forecast period. Within Americas, the North American region accounted for over 40% market share due to adoption of robot-assisted surgeries, high healthcare expenditure, and sophisticated healthcare infrastructure.

Europe is the second biggest region and portended to exhibit a stellar CAGR during the assessment period due to favorable government initiatives aimed at integrating technology which can better patient lives. Resurgence of economies in the region combined with the proliferating healthcare sector can augment the regional medical robotics market size considerably.

The APAC region is expected to exhibit the fastest growth rate during the forecast period due to introduction of robot-assisted training sessions for surgeons, adoption of surgical robots, and the growing geriatric population. The constantly developing healthcare infrastructure combined with a plethora of opportunities have created new growth avenues for the global medical robotics market in the region.

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