According to a new market research study titled Medical Robots Market to 2025 – Global Analysis and Forecasts by Product, Application and End User. The global medical robots market is estimated to account for US$ 28,776.6Mn by 2025 as compared to US$ 5,740.8 Mn in 2017, growing at a CAGR of 22.3% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global medical robots market and the factors driving the market along with those fact as restraint to its growth.
The product segment is divided into sub segments such as surgical robots, rehabilitation robots, non-invasive radio surgery robots, hospitals & pharmacy robots and others. The surgical robot holds the largest market share by the product whereas the rehabilitation robots is the fastest growing segment. The dominancy is expected to be continued by the surgical robots due to the advantages offered such as minimally invasive procedure, less time consuming procedure and more. The market for medical robots by the product segment is expected to reach US$ 18,819.9 million by 2025 in the forecasted period. Surgical robots segment has the highest market share in 2017, contributing a market share of 46.3% and is expected to retain its dominance during the forecast period from 2018 to 2025 to account for a market share of 42.6% of the overall revenue generated in 2025.
The prominent players in the Medical Robots Market includes:
1. Intuitive Surgical, Inc.
2. Stryker Corporation
3. Hocoma AG
4. Mazor Robotics Ltd.
5. Hansen Medical, Inc. (Auris Surgical Robotics)
6. Accuray Incorporated.
7. Omnicell, Inc.
8. Arxium
9. EKSO Bionics Holdings, Inc.
10. Kirby Lester, LLC
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The growth of the Medical Robots Market is expected rise due to the trend of development of therapeutic robots. As the large number of the people are therapeutic robots for companionship and therapy. The therapy robots are developed for assisting patients in recovering. For instance, student researchers at the University of Amsterdam developed Phobot, which is an interactive robot to help children who suffer from anxiety and phobias.
The Medical Robots Market is dominated by the Laparoscopy Segment by Application. When Phobot is confronted by larger objects, it’s programmed to react with fear, it raises its eyebrows, turns around, and zips away in a panic. When it’s confronted with smaller objects, it is trained to be normal. In addition, Omron (Japan) in 2001 developed and designed NeCoRo, the first robotic lap cats made for senior citizens in the country. The robot gives positive feedback depending on the user’s actions. If a user neglected NeCoRo, the robot would be less affectionate the next time the user interacted with it. These types of therapeutic robots are growing trends in the past few years and are expected to grow the market in the future time.
The application segment of the medical robots market is divided into laparoscopy, neurology, orthopedics, gynecology, urology, cardiology, and others. In 2017, laparoscopy segment held the largest share of 56.2% of the market, based on the technology. In addition, the segment is expected to dominate during the coming years owing to its advantages such as, adoption in emergence of data supporting efficacy and safety. Similarly, the orthopedic segment is expected to be the fastest growing application segment for the medical segment. The orthopedics market was valued at US$ 879.2 Mn in 2017.
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The objective or the scope the study was defining, describing, and forecasting the medical robots market on the basis of product, application, end user and region. In addition, analyzing the market structure, profiling the key players of the market, and comprehensively analyzing their core competencies. Tracking and analyzing competitive developments such as new product launches; market consolidations in the medical robots market. Moreover, the aim of the study was providing detailed information regarding the major factors or the reasons that are influencing the growth of the market in the five major regions such as North America, Europe, Asia Pacific, Middle East and Africa and South and Central America.
The market in different regions is analyzed by the PEST analysis and the SWOT analysis is provided for the profiled companies in our scope of study. For instance, the PEST analysis of the North America region contain political factor – government efforts to utilize the medical robotic in US, the economic factor – reimbursements plans, social factor – robotic surgeries serves advantages to patients, and the technological factor – rise in the developments. Thus, the report provides all the major factors, such as drivers, restraints, opportunities, trends that are impacting the growth of the medical robots in the forecasted period.
The report includes the driving factors such as increasing training programs for robotic surgeries, rise in the developments for medical robots in Asia, rise in the number of surgical procedures. The restraint for the market is evaluated as the high cost of the surgical procedures and installation. The opportunities for the market are evolution of nanorobots in cancer treatment and increased preferences of patient for robotic surgeries. Similarly, the trend that are expected to drive the growth of the market in coming future are development of microbots and development of therapeutic robots.
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The robots are designed to assist surgeons during the surgical procedures. However, the medical robots are majorly used for surgical producers, there are different types of medical robots. The types of the medical robots include surgical robots, rehabilitation robots, hospital & pharmacy robots and more. The targeted stakeholders for the reports include suppliers and distributors of medical robot systems medical robots and related device manufacturing companies, hospitals and diagnostic centers, ambulatory surgery centers and others.
In our study of medical robots the market is segmented into three major segments such as product, application, and end user. The product segment is divided into surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital & pharmacy robots and others. The application segment consists of laparoscopy, neurology, orthopedics, gynecology, urology, cardiology and others. Similarly, the end user is classified as hospitals and ambulatory surgical centers.
Key Insights Covered:
1. INTRODUCTION 40
1.1 Scope of the Study 40
1.2 The Insight Partners Research Report Guidance 40
2. GLobal Medical Robots Market – Key takeaways 42
3. Global Medical Robots Market – market landscape 45
3.1 overview 45
3.2 market segmentation 45
3.3 Global Medical Robots Market – By Product 46
3.4 Global Medical Robots Market – By Application 47
3.5 Global Medical Robots Market – By end user 47
3.6 Global Medical Robots Market – By geography 47
3.7 PEST Analysis 48
3.7.1 North America – PEST Analysis 48
3.7.2 Europe – PEST Analysis 50
3.7.3 Asia Pacific – PEST Analysis 52
3.7.4 Middle East and Africa – PEST Analysis 54
3.7.5 South and Central America – PEST Analysis 56
4. Global Medical Robots Market – Key Market Dynamics 58
4.1 Key Market Drivers 58
4.1.1 Increasing Training Programs for Robotic Surgeries 58
4.1.2 Rise In The Developments For Medical Robots in Asia 58
4.1.3 Rise In The Number of Surgical Procedures 59
4.2 Key Market Restraints 60
4.2.1 High Cost of Surgical Procedures and Installation 60
4.3 Key Market Opportunities 60
4.3.1 Evolution of Nanorobots in Cancer Treatment 60
4.3.2 Increased Preferences of Patient for Robotic Surgeries 61
4.4 Future Trends 61
4.4.1 Development of Microbots 61
4.4.2 Development of Therapeutic Robots 61
4.5 Impact analysis 62
5. Global MEDICAL ROBOTS Market –Analysis 63
5.1 Global MEDICAL ROBOTS Market Revenue Forecasts and Analysis 63
5.2 Global MEDICAL Robots MARKET, By Geography - Forecasts and Analysis 64
5.3 Market share analysis 65
5.4 PERFORMANCE OF KEY PLAYERS 66
5.4.1 Intuitive Surgical Inc. 66
5.4.2 Stryker 66
5.5 expert opinions 67
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