The global medical robotics market is anticipated to inflate at a CAGR of 22% during the forecast period. Technological advancements in the robotic industry and acceleration in the demand for minimal or non-invasive surgeries are primary driving factors for global Medical Robotics market.
The global market for Medical Robotics is segmented on the basis of Type, Application, and Geography. The market by Type is segregated into Surgical robots, Rehabilitation robots, Noninvasive radiosurgery robotics, Hospital and Pharmacy robotics and others. The market on the basis of Application is segmented into Laparoscopic, Orthopedic, Neurology and Others. The Geographical segmentation for the Medical Robotics market is North America, Europe, Asia-Pacific, and the Rest of the world.
The requirement of robots in surgeries for assistance is on rising across the globe. This demand is accelerating the growth of the Medical Robotics market and is projected to grow in upcoming years. The prime factor in producing and developing demands for medical robots is the surge in healthcare expenditure. The investment in Robotic technology, increase in the preference for minimally invasive surgery, mortality rates, and lifestyle diseases are some of the dominant drivers for the market growth. Contrarily, the expense difference between the surgery by robotic machines and human being varies which act as growth restraints for the market.
North America accounts for the largest market share for global Medical Robotics. North America is expected to lead the global market due to development in surgical robots, hospitals, and pharmacy robots. Asia Pacific is projected to expand during the forecast years resulting in a great opportunity for the Medical Robotics market. Europe is acknowledged leader in providing professional service robotics with Germany accounted for largest medical technology market.
The dominant players in the Medical Robotics market are Accuray Inc., Aesyntinc (Acquired By Omnicell, Inc.), Aurora Biomed, Kerby Lester, Intuitive Surgical, Hansen Medical Inc., Hocoma Ag, Biotek Instruments, Baxter International, Irobot Corporation, Mazor Robotics, Abbot Diagnostics, Rewalk Robotics, CareFusion, and Agilent Technologies.