At 21.1% CAGR to 2021, Medical Robots Market Growth Dominated by North America
Feb 22, 2017
The medical robots market is projected to reach USD 12.80 billion by 2021, growing at a CAGR of 21.1% while the laparoscopy segment is expected to command the largest share of the market due to rising number of robotic laparoscopy procedures.
Pune, India - February 22, 2017 /MarketersMedia/ —
Advantages offered by robot-assisted training in rehabilitation therapy, technological advancements, increase in funding for medical robots research, issuance of IPOs by medical robots companies, and growing hospital investments are the key factors driving the growth of the market. However, safety concerns over robotic surgery devices and the high cost of robotic systems & unjustified cost benefits of robotic surgeries are restraining the growth of the market to a certain extent. Furthermore, rapid growth in the aging population, development of Nano robots for cancer treatment, and rising patient preference for minimally invasive surgeries is likely to offer significant growth opportunities for players operating in the market.
Complete report on medical robots market spread across 146 pages, profiling 10 companies and supported with 79 tables and 40 figures is now available at http://www.rnrmarketresearch.com/medical-robots-market-by-type-surgical-robot-rehabilitation-robotics-telemedicine-assistive-robots-orthotics-prosthetics-radio-surgery-exoskeleton-application-orthopedic-neurology-laparo-market-report.html .
The global medical robots market is segmented on the basis of product, application, and region. In 2016, North America is expected to account for the largest share of the global medical robots market, followed by Europe, Asia-Pacific, and RoW. Asia-Pacific is projected to have the highest growth rate in the forecast period. The high growth rate of this segment can be attributed to factors growth in the number of approvals of robots for medical use in Japan, rising prevalence of cancers in China, growing robotic procedures backed by rising number of hospital beds in India, rising adoption of medical robots in Asia, funding collaborations across the Asian region, and training programs in Australia.
Key players in the global medical robots market include Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Mazor Robotics Ltd. (Israel), Hocoma AG (Switzerland), Hansen Medical Inc. (U.S.), Accuray Incorporated (U.S.), Omnicell, Inc. (U.S.), Ekso Bionics Holdings, Inc. (U.S.), ARxIUM (U.S.), and Kirby Lester LLC (U.S.). Order a copy of Medical Robots Market by Product (Instruments & Accessories and Robot Systems (Surgical Robots, Rehabilitation Robots, Hospital Robots, Non-invasive Surgery Robots)), Application (Orthopedic, Laparoscopy, Neurology) - Global Forecasts to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=155818 .
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (product launches, collaborations, agreements, partnerships, alliances, grants, joint ventures, acquisitions, and expansions) to increase their market shares and establish a strong foothold in the global market.
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Source: MarketersMedia
Release ID: 172179
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