Latin America Medical Robot Market is poised to cross USD 1.79 billion in 2022

Posted by rohan on February 23rd, 2018

According to the report Medical Robots Market, published by Market Data Forecast, the Latin America market is projected to reach USD 1.79 billion by 2022, at a CAGR of 22.13% from 2017 to 2022.

Medical Robots are showing are showing great potential in the healthcare market. Medical robots are the micro-robots used in surgeries and other parts of medical sciences. They provide better precision compared to human surgeon.

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Latin America Medical Robots Market: Drivers & Restraints

With rapid increase in technological growth and increasing awareness about the use of technology in healthcare sector, this market has really shown great potential in the past few years and is expected to show the same potential in the coming years. Moreover, increased funding in this sector by various private giants has fuelled the growth of this market.

Concerns over the safety of using these devices, and hefty cost of robotic surgical procedures are the primary restraints of this market.

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Latin America Medical Robots Market: Segmentation

By Product                      

• Surgical Robots
  • Laparoscopy Robotic Systems
  • Orthopaedic Robotic Systems
  • Neurosurgical Robotic Systems
  • Steerable Robotic Systems
• Rehabilitation Robotic Systems
  • Therapeutic Robotic Systems
  • Assisstive Robotic Systems
  • Prosthetic Robotic Systems
  • Orthotic Robotic Systems
  • Exoskeleton Robotic Systems
• Non-Invasive Radiosurgery Robotic Sytems
• Hospital & Pharmacy Robotic Systems
  • Pharmacy Robotic Systems
  • IV Robotic Systems
  • Tekemedicine Robots
• Other Robotic Systems

By Application                

• Laparoscopy
• Orthopaedics
• Neurology
• Special Education
• Other Applications

By Geography                      

• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America

Latin America Medical Robots Market: Overview

Laparoscopy was the leading application of medical robots as of 2017 but neurology is showing the highest growth rate.

Latin America is showing a huge growth rate in terms of CAGR. It has the second highest CAGR for this market after Asia-Pacific. Brazil is leading this region in terms of market share.

Latin America Medical Robots Market: Key Players

Lion Laboratories Limited, Drägerwerk AG & Co. KGaA, Intoximeters, Inc. are the major players in the market. Other players in the market include Andatech Private Limited, Lifeloc Technologies, Inc., BACtrack, Alere, Inc., Quest Products, Inc., and C4 Development Ltd.

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