Market Analysis - Medicalrobots-2017
The medical robots market is estimated to reach USD 12.80 Billion by 2021 from USD 4.90 Billion in 2016, mounting at a CAGR of 21.1% during the forecast period. The growth of the overall market can be accredited to the issuance of IPOs by medical robot companies, advantages offered by robot-assisted preparation in rehabilitation therapy, emergent hospital monies in medical robots, increasing funding for medical robot research, and technological encroachments in the field of medical robots.
In the coming years, the market is estimated to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to the growth in the number of approvals of robots for medical use in Japan, rising pervasiveness of cancers in China, growing robotic procedures backed by rising number of hospital beds in India, rising adoption of medical robots in Asia, funding collaborations across the Asian region, and training programs in Australia.
On the source of product, the market is segmented into devices & accouterments and medical robot systems. The medical robot systems segment is further fragmented into surgical robots, rehabilitation robots, noninvasive radiosurgery robotic systems, hospital & pharmacy robots, and other medical robotic systems (capsule robots and robots for emergency medicine). In 2016, the surgical robots segment is expected to command the largest share of medical robot systems. However, the rehabilitation robot systems are likely to grow at the highest CAGR during the forecast period.
The medical robots market is segmented into laparoscopy, orthopedics, neurology, distinctive education, The neurology application segment is expected to grow at the highest CAGR during the forecast period. However, the laparoscopy segment is estimated to command the largest share of the market, by application in 2016.
In 2016, North America is estimated to account for the leading share of the global medical robots market. North America’s leadership in the market can be attributed to can be attributed to favorable reimbursement scenario in the U.S., funding by the U.S. Department of Defense, grants from NSF for research activities in the U.S, rising venture capital investments in the U.S., government support in Canada, and increasing medical robot purchases backed by rising preference for minimally invasive surgeries.
Stakeholders of the Medical Robots Market
- Medical Robots and Related Devices Manufacturing Companies
- Suppliers and Distributors of Medical Robot Systems
- Hospitals and Diagnostic Centers
- Ambulatory Surgery Centers
- Academic Centers
- Venture Capitalists
Scope of the Report:
This research report categorizes the medical robots market into the following segments:
Medical Robots Market, by Product
- Instruments & Accessories
- Medical Robot Systems
- Surgical Robots
- Rehabilitation Robots
- Noninvasive Radiosurgery Robots
- Hospital & Pharmacy Robots
- Other Medical Robotic Systems
Medical Robots Market, by Application
- Special Education
- Other Applications
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
- Eastern Europe (Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa)
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