Medical Robotics Market Outlines the Growth Factors and Current State of Industry by 2027

Medical Robotics Market Research Report: By Product (Surgical Robotic Systems, Rehabilitation Robotic Systems, Hospital & Pharmacy Robotic Systems, Noninvasive Radiosurgery Robotic Systems and others), Application (Laparoscopy, Neurosurgery, Cardiology, Orthopedic Surgery and Pharmacy Applications), End User (Hospitals and Clinics, Specialty Centers, Rehabilitation Centres and others) and Region (the Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027

Global Medical Robotics Market - OverviewMedical robotics is the advanced method for the treatment and surgeries which involves the use of robots. It is an emerging field. Now a days medical robots are widely adopted by people due to their reliability and safety concerns. Medical robotics have found many applications in healthcare sector as this robots are used in different surgeries like urology, cardiology, and neurology. The major driving factor for the growth of the market is increasing number of chronic diseases and rising demand for the more accurate surgical procedures. Beside this increasing encouragement and funding provided by governments, automation in healthcare sector and increasing demand for the minimally-invasive surgeries has also contributed in grow medical robotics market. On other hand high cost of medical robots as well as high maintenance cost may restrains the growth of market.

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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.

But latency issues with robots as well as the nascent stage of the technology can create hesitation among hospital chains and pose a challenge to the market.

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., KUKA 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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