According to Stratistics MRC, the Global Medical Robotics Market is accounted for $4.2 billion in 2015 and is expected to reach $17.9 billion by 2022 growing at a CAGR of 23.1% from 2015 to 2022. Growing number of aging population, rising incidence of cardiovascular diseases are the major drivers in this market. Moreover, growing number of invasive surgeries, rising adoption of medical robots and increasing huge developments in technological advancements are the factors driving the market growth. However, huge capital investments, non regulatory safety concerns and presence of stringent government regulatory framework are the factors limiting the market growth. On the other hand, developing advancements in nanorobots for cancer treatment will remain as a major opportunity in vascular stents market over the forecast period.
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Laparoscopy segment accounted for the largest share of medical robotics application market during the forecast period due to growing demand for surgical procedures in laparoscopy. Neurology segment is anticipated to be the fastest growing segment among medical robotics market during the forecast period owing to technological advancements in neurosurgery and increasing reputation for robotic neurosurgery. North America commanded the largest share in this market during the forecast period due to growing number of medical robots in this region and Asia pacific is anticipated to grow at a faster rate on account of rapidly expanding healthcare industry and rising awareness in emerging countries such as China and India.
Some of the key players in this market include Kirby Lester Llc, ARxIUM, Accuray, Inc., Mazor Robotics Ltd., Stryker Corporation, Ekso Bionics Holdings, Inc., Aesynt Inc., Hansen Medical, Inc., Hocoma AG, Intuitive Surgical, Inc., Medrobotics Corporation, iRobot Corporation, Renishaw Plc, OR Productivity plc and Mako Surgical Corp.
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