Medical Robotics Market 2023 Forecasts by Global Industry Analysis in 2019 Repor
Posted by diksha3847 on May 16th, 2019
Medical Robotics Market – Competitive Analysis
Fiercely competitive, the medical robotics market appears to be highly fragmented with several well-established players alongside the new entrants are forming a competitive landscape. Optimizing situational awareness, these players focus on market trends to ensure their mission success. By incorporating strategic initiatives such as innovation, M&A, these players seek market expansion and invest increasingly in R&D to develop cost-effective product portfolio. As they are aware that these investments are going to help them to expand their market presence
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Medical Robotics Market – Highlights
Integration of artificial intelligence (AI) and augmented reality (AR) into medical robotics technology has further enabled medical robotics to reach par excellence, making cost-effective healthcare available. Simultaneously, the emergence of AR &AI has been supporting medical robotics to streamline operating theatres, making the surgical procedures efficient without leaving scope for human error at the same time saving a whole lot of time of healthcare staff.
Additional factors predominantly propelling the growth of the market include the augmenting demand for robotic surgeries and the prevalence of diseases & increasing cases of accidents. Furthermore, growing investments transpired into R&D activities are helping the market to create a significant revenue pocket in the global space, improving the technology further.
Global Medical Robotics Market – Segmentations
The analysis has been segmented into three key dynamics for ease of understanding: -
By Product: Medical Surgical Robotic Systems (Neurosurgical Robotic Systems, Orthopaedic Robotic Systems, Laparoscopy Surgical Robotic Systems, and other), Various Accessories, Hospitals & Pharmacies (I.V. Robots, Pharmacy Robot, and others), and Rehabilitation Services (Orthotics Robots, Prosthetic Robots, Assistive Robots, Therapeutic Robots, and other) among others.
By Application: Neurology, Cardiology, Rehabilitation, Laparoscopy, and others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Key players operating in the global medical robotics market include Smith & Nephew Ltd. (UK), ReWalk Robotics (Israel), Stryker Corporation (US), Medtech SA (France), Hocoma AG (Switzerland), KUKA Roboter GmbH (Germany), Aethon Inc. (US), Intuitive Surgical, Inc. (US), Mazor Robotics Ltd. (Israel), Varian Medical System, Inc. (US), Intouch Health Technologies, Inc. (US), Titan Medical, Inc. (US), Medrobotics Corporation (US), Carefusion Inc.(US), Kinova (US), Ekso Bionics Holdings, Inc. (US), Hansen Medical, Inc. (US), Myomo Inc. (US), Transenterix, Inc. (US), Auroba Biomed Inc. (US), and ZOLL Medical Corp. (US) among others.
The North American region, due to the vast technological advances dominates the global medical robotics market, holding over 40% of the market share. The augmenting demand for robot-assisted surgeries and futuristic healthcare infrastructure are some of the key factors driving the growth in the regional market. Additionally, high healthcare expenditures foster the growth of the market in the region.
The European medical robotics market accounts for the second-largest market, globally. Factors that are helping the regional market to boost further include favorable governmental support and initiatives. Furthermore, the proliferating healthcare sector led by the resurging economy is expected to help the market to grow extensively.
The Medical Robotics Market in the Asia Pacific region has emerged as a profitable market, globally. Substantial technological developments and the continually developing healthcare infrastructure that is led by the rapidly developing economy are some of the key driving forces boosting the growth of the regional market, allowing it to register a fabulous CAGR throughout the assessment period.
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