(MoneyNewsWire.Net, January 12, 2018 ) According to the report Medical Robots Market, published by Market Data Forecast, the Global market is projected to reach USD 13.7 billion by 2022, at a CAGR of 21.1% from 2017 to 2022.
Robots used in the field of medical science are termed as Medical Robots. This market has tremendous potential. Medical robots have higher levels of precision in performing surgeries and are more reliable in surgeries involving high risks. They are also used in case of unavailability of a surgeon.
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Medical Robots Market: Drivers & Restraints
Rapid technological advancements, steadily rising funding for research in this field, rising number of IPOs of companies in this field, rising number of investments in hospitals, and advantages of using robots assisted training in the rehabilitation therapy are the primary drivers of the 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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Medical Robots Market: Segmentation
o Laparoscopy Robotic Systems
o Orthopaedic Robotic Systems
o Neurosurgical Robotic Systems
o Steerable Robotic Systems
Rehabilitation Robotic Systems
o Therapeutic Robotic Systems
o Assisstive Robotic Systems
o Prosthetic Robotic Systems
o Orthotic Robotic Systems
o Exoskeleton Robotic Systems
Non-Invasive Radiosurgery Robotic Sytems
Hospital & Pharmacy Robotic Systems
o Pharmacy Robotic Systems
o IV Robotic Systems
o Tekemedicine Robots
Other Robotic Systems
o United States
o South Korea
o Rest of Latin America
Middle East & Africa
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Medical Robots Market: Overview
In 2016, by application laparoscopy is the market leader and is predicted to retain its position in the aforementioned forecast period. Neurology is anticipated to grow at the highest CAGR. If we go by product type surgical robots is the market leader and is expected to remain so in the aforementioned forecast period.
North America is the market leader and is expected to retain its position in the aforementioned forecast period. Savoury reimbursement scenario in US, rising cases of cancer are the primary reasons attributable to the observable trend mentioned above. Asia Pacific is the fastest growing market and is expected to remain so in the aforementioned forecast period. Easy approval for medical robots in countries like Japan, increasing cases of cancer are the reasons attributable to the above mentioned trend.
Medical Robots Market: Key Players
Lion Laboratories Limited, Drδgerwerk 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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