The Global Medical Robots Market was worth USD 4.90 billion in 2016 and estimated to be growing at a CAGR of 21.1%, to reach a market size of USD 12.80 billion by 2021. The Medical Robots market is showing evident potential in the mentioned forecast period. The medical robots market continues to gain momentum with increasing technological advancements in the field of healthcare and pharma, which has helped the doctors to treat patients with ailments which can’t be treated as effectively by a human surgeon. Thus, more and more companies have been showing interest in this market.
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Medical Robots are nothing but robots used in medical sciences. There are different types of medical robots including surgical robots and others. These medical robots help in carrying out task with more precision than an unaided human surgeon or provide the option of remote surgery in case of unavailability of human surgeon.
The technological advancements in the healthcare department have been one of the major factors driving the Medical Robots market. Apart from this, the other factors contributing to the growth of the market are Increase in funding for Medical Robots research, Issuance of Ipos by Medical Robots companies, growing hospital investments in Medical Robots and the advantages offered by Robot-Assisted Training in Rehabilitation Therapy. Besides drivers, there are some challenges and restraints faced by the market as well. The major ones include, safety concerns over Robotic Surgery Devices and high cost of Robotic Systems with unjustified cost benefits of Robotic Surgeries.
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The Medical Robots Market has been broadly segmented on the basis of Product and Applications. Under the product, the segmentation is done as surgical robots, Rehabilitation Robotic Systems, Non-invasive Radiosurgery Robotic systems, Hospital and Pharmacy Robotic Systems and other Robotic Systems. The surgical robots are further categorized into Laparoscopy Robotic Systems, Orthopaedic Robotic Systems, Neurosurgical Robotic Systems and steerable Robotic Systems. Similarly, under Rehabilitation Robotic systems the sub segments are Therapeutic Robotic Systems, Assistive Robotic Systems, Prosthetic Robotic systems, Orthotic Robotic Systems, Exoskeleton Robotic Systems and for Hospital and Pharmacy Robotic Systems the sub segments include Pharmacy Robotic Systems, IV Robotic Systems and Telemedicine Robots. Based on Application the market is segmented into Laparoscopy, Orthopaedics, Neurology, Special Education and other Applications. Although neurology is expected to have highest CAGR but Laparoscopy is still predicted to lead the market share. On the basis of geographical analysis, the medical robots market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Medical Robots market was dominated by North America. North America was followed by Europe and Asia-Pacific. Asia Pacific medical robots market is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the medical robots market, by their products and services include Intuitive Surgical Inc., Stryker Corporation, Hocoma AG, Mazor Robotics Ltd, Hansen Medical Inc, Accuray Incorporated, Omnicell Inc., Arxium, EKSO Bionics Holdings Inc., Kirby Lester LLC.
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