Asia-Pacific Medical Robots Market has been estimated at USD 0.88 Billion in 2016 and is projected to reach USD 2.52 Billion by 2021, at a CAGR of 23.32% during the forecast period from 2016 to 2021. The Medical Robots market is showcasing significant potential over the mentioned forecast period. The market continues to grow with increasing advancements in technology in the field of pharma and healthcare, which helps the doctors in treating patients with ailments which generally are hard to be treated as effectively as by a human surgeon. Hence, increasing number of companies have been gaining interest in the market lately.
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Medical Robots are basically the robots used for medical sciences. There are various kinds of medical robots like surgical robots and others. Medical robots help in carrying out tasks with higher precision compared to an unaided human surgeon or provide the alternative of remote surgery in case of unavailability of human surgeon.
The technological advancements in healthcare is one of the key factors responsible for driving the Medical Robots market. Further, other factors contributing to the growth of the market include Increase in funding for Medical Robots research, growing hospital investments in Medical Robots, Issuance of Ipos by Medical Robots companies and the advantages offered by Robot-Assisted Training in Rehabilitation Therapy. Besides drivers, there are some restraints and challenges faced by the market as well. The major ones include, high cost of Robotic Systems with unjustified cost benefits of Robotic Surgeries and safety concerns over Robotic Surgery Devices.
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The Medical Robots Market has been segmented based on Product and Applications. On the basis of Product, the segmentation is done as Rehabilitation Robotic Systems, surgical robots, Hospital and Pharmacy Robotic Systems, Non-invasive Radiosurgery Robotic systems and others. The surgical robots are further fragmented into Laparoscopy Robotic Systems, Neurosurgical Robotic Systems, Orthopaedic Robotic Systems and steerable Robotic Systems. Similarly, based on Rehabilitation Robotic systems the sub segments are Therapeutic Robotic Systems, Prosthetic Robotic systems, Assistive Robotic Systems, Orthotic Robotic Systems, Exoskeleton Robotic Systems and in Hospital and Pharmacy Robotic Systems the sub segments include IV Robotic Systems, Pharmacy 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 geography, the market is analysed under various countries namely China, India, Japan, Australia and South Korea.
Some of the major companies dominating the market include Intuitive Surgical Inc., Hocoma AG, Stryker Corporation, Mazor Robotics Ltd, Accuray Incorporated, Hansen Medical Inc, Omnicell Inc., Arxium, Kirby Lester LLC, EKSO Bionics Holdings Inc.
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