Medical Robotics to be driven by Surgical Robotics Segment and to grow at 19% CAGR till 2020!

The report " Medical Robotics Market Analysis: By Surgical Robots (Neurosurgical, Orthopedic, Laparoscopy); Rehabilitation (Exoskeleton, Prosthetic, Assistive); Telemedicine and Hospital Robots - With Forecast (2015 - 2020)", defines and segments the Medical Robotics Market into various sub-segments with an in-depth analysis and market size estimation. It also identifies drivers and restraints for this market with insights into trends, opportunities and challenges.

Browse Market Data Tables and Figures spread through 148 pages and in-depth TOC on “Medical Robotics Market Analysis: By Surgical Robots (Neurosurgical, Orthopedic, Laparoscopy); Rehabilitation (Exoskeleton, Prosthetic, Assistive); Telemedicine and Hospital Robots - With Forecast (2015 - 2020)”

Medical Robotics is a multi-disciplinary science and has evolved from two major aspects namely complexity and utility. In Medical Robotics, Surgical Robots gained acceptance sooner in the developed countries as compared to the developing nations.

Surgical Robots are now being used for different types of surgical procedures such as urological procedures, gynecological surgical procedures, general surgical procedures, cardiothoracic procedures and many more. Due to this, a significant rise has been observed in the adoption rate of Surgical Robots in the developing countries too.

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Medical Robotics Market has been growing owing to its ability of performing a task repetitively along with utmost precision. It is expanding primarily due to the advent of technological developments coupled with innovation of various devices for the enhancement of healthcare services provided globally. According to IndustryARC analysis, the Medical Robotics market had sales of around $2.67 billion in 2014. The market represents remarkable growth in the coming few years and is projected to grow at a healthy CAGR of 19% during the forecast period 2015-2020.

Compact Regional Analysis:

It was observed that in 2014, Americas region contributed by around 62% of the total market revenue, followed by Europe, whereas Asia-Pacific and Rest of the World had comparatively lesser market shares. It is estimated that the Europe and Asia-Pacific region will grow at a rapid rate considering the untapped strong growth potential market for medical robotics.

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Brief Outlook of the Market:

Technological advancements, implementation of different policies in healthcare for augmenting the adoption of medical robots, demand for treatment combined with medical robotics and launch of innovative devices such as telemedicine robots, rehabilitation robots which include exoskeleton robots, cleaning and disinfectant robots are some of the key drivers for the growth of this market. Medical Robots help in reducing the hospital stay for the patient, help surgeons perform the surgery with minor incisions and cause minimal blood loss, thereby improving the overall quality of service provided. Growth of the market in the developing nations has been limited in the past due to the high cost of equipment, but recently there has been a rise in installations of medical robots because of the increased funding in healthcare sector by the developing economies. Usage of medical robotics requires skilled healthcare professionals, lack of which also affected the adoption of medical robotics in hospitals as medical robotics attempted to gain foothold in the healthcare industry globally.

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Key Players:

Considering the benefits of using medical robotics to both, the healthcare service providers as well as the seekers, there has been an observation of growing interest in the number of companies foraying into the medical robotics market. This factor has aided in increasing the competition amongst the players of the medical robotics market. In 2014, the Medical Robotics Market was chiefly dominated by Intuitive Surgical Inc., Stryker Corporation, Accuray Inc., Mazor Robotics and Hocoma AG.

To mention few in the report:

  • Hansel Medican, Inc.
  • Intuitive Surgical Inc.
  • Mazor Robotics
  • Accuray Inc.
  • Titan Medical Inc.
  • Curexo Technology Corporation

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