The Europe Medical Devices Market is expected to grow at a CAGR of 20.47% and reach USD 3.11 billion in 2021 from USD 1.23 billion in 2016. The Medical Robots market is supposed to show evident potential in the forecast period. The market has continued to gain momentum with the increase in technological advancements in the field of pharma and healthcare, which helps the doctors in treating patients with problems which can’t be treated as effectively by a human surgeon. Thus, more companies have been showing interest in this market recently.
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Medical Robots are the robots used for the purpose of medical sciences. There are different types of medical robots which include surgical robots and others. These robots assist in carrying out task with greater precision than an unaided human surgeon and even provide the option of remote surgery in cases of unavailability of human surgeon.
The technological advancements in the field if healthcare have been one of the most important factors driving the Medical Robots market. Apart from this, other factors fuelling the growth of the market include Issuance of Ipos by Medical Robots companies, increase in funding for Medical Robots research, growing hospital investments in Medical Robots and the advantages offered by Robot-Assisted Training in Rehabilitation Therapy. Besides these, there are some restraints and challenges faced by the market as well. The major ones are 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 categorized under Product and Applications. Based on Product, the segmentation is done as Rehabilitation Robotic Systems, surgical robots, Non-invasive Radiosurgery Robotic systems, Pharmacy and Hospital Robotic Systems and other Robotic Systems. Further, the surgical robots are classified into Orthopaedic Robotic Systems, Laparoscopy Robotic Systems, Neurosurgical Robotic Systems and the steerable Robotic Systems. Similarly, the sub segments based on Rehabilitation Robotic systems include Assistive Robotic Systems, Therapeutic Robotic Systems, Prosthetic Robotic systems, Exoskeleton Robotic Systems, Orthotic Robotic Systems and for Pharmacy and Hospital Robotic Systems the sub segments are Pharmacy Robotic Systems, Telemedicine Robots and IV Robotic Systems. On the basis of Application the market segmentation is done into Laparoscopy, Neurology, Orthopaedics, Special Education and others. Though neurology is predicted to have the highest CAGR but Laparoscopy is still estimated to dominate the market share. On the basis of geographical analysis, the market is analysed under various countries namely U.K, Spain, Germany, Italy and France.
Some of the major leaders of the Medical Robots market include Intuitive Surgical Inc., Hocoma AG, Stryker Corporation, Hansen Medical Inc, Omnicell Inc., Accuray Incorporated, Arxium, EKSO Bionics Holdings Inc., Mazor Robotics Ltd, Kirby Lester LLC.
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