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(MoneyNewsWire.Net, April 20, 2018 ) The medical robots market is projected to reach USD 12.80 Billion by 2021 from 4.90 Billion in 2016, growing at a CAGR of 21.1% during the forecast period. The growth of the overall market can be contributed to advantages offered by robot-assisted training in rehabilitation therapy, technological advancements in the field of medical robots, increasing funding for medical robot research, issuance of IPOs by medical robot companies, and growing hospital investments in medical robots.
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The global medical robots market is categorized on the basis of product, application, and region. On the basis of product, the market is categorized into instruments & accessories and medical robot systems. In 2016, the instruments and accessories segment is estimated to account for the largest share of the global market. The medical robot systems segment is further divided into surgical robots, rehabilitation robots, noninvasive radiosurgery, hospital & pharmacy robots, and other medical robotic systems. In 2016, the surgical robots segment is expected to command the largest share of medical robot systems market. The surgical robot systems segment is further segmented into robots for laparoscopy surgeries, orthopedic surgeries, neurological surgeries, and steerable robotic catheters. In 2016, the laparoscopy surgery robots segment is expected to account for the largest share of the surgical robots market. Increasing preference for minimally invasive surgeries, growing obesity, and high precision of the surgery are the factors attributing to the growth of this segment.
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On the basis of application, the medical robots market is segmented into laparoscopy, orthopedics, neurology, special education, and other applications. In 2016, the laparoscopy segment is estimated to command the largest share of the market. However, the neurology segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to rising number of stroke cases across various geographies coupled with the increasing interest in the use of robots in neurological surgeries and rehabilitation.
In 2016, North America is expected to account for the largest share of the global market. The large share of this segment can be attributed to favorable reimbursement scenario in the U.S., rising incidence of cancer in the U.S. and Canada, and increasing medical robot purchases backed by rising preference for minimally invasive surgeries. The market is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to the growing approvals for medical robots in Japan, rising prevalence of cancer in China, growing number of robotic procedures in India, and training programs in Australia.
Key players in the global medical robots market include Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Mazor Robotics Ltd. (Israel), Hocoma AG (Switzerland), Hansen Medical Inc. (U.S.), Accuray Incorporated (U.S.), Omnicell, Inc. (U.S.), Ekso Bionics Holdings, Inc. (U.S.), ARxIUM (U.S.), and Kirby Lester LLC (U.S.).
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