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The medical robots market was valued at US$ 5,740.8 in 2017 and is expected to reach US$ 28,776.5 MN in 2025. The market is estimated to grow with a CAGR of 22.3% from 2017-2025.
The report includes the driving factors such as increasing training programs for robotic surgeries, rise in the developments for medical robots in Asia, rise in the number of surgical procedures. The restraint for the market is evaluated as the high cost of the surgical procedures and installation. The opportunities for the market are evolution of nanorobots in cancer treatment and increased preferences of patient for robotic surgeries. Similarly, the trend that are expected to drive the growth of the market in coming future are development of microbots and development of therapeutic robots.
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The robots are designed to assist surgeons during the surgical procedures. However, the medical robots are majorly used for surgical producers, there are different types of medical robots. The types of the medical robots include surgical robots, rehabilitation robots, hospital & pharmacy robots and more. The targeted stakeholders for the medical robots market reports include suppliers and distributors of medical robot systems medical robots and related device manufacturing companies, hospitals and diagnostic centers, ambulatory surgery centers and others.
Key industry players operating in the field of medical robots across the globe include Intuitive Surgical, Inc., Stryker, Hocoma AG, Mazor Robotics Ltd., Hansen Medical, Inc. (Auris Surgical robotics), Accuray Incorporated, Omnicell Inc., Arxium, EKSO Bionics Holdings, Inc., and Kirby Lester, LLC among others.
Surgical Robots Are Likely To Drive The Market For Medical Robots In The Forecasted Period 2018-2025
The product segment is divided into sub segments such as surgical robots, rehabilitation robots, non-invasive radio surgery robots, hospitals & pharmacy robots and others. The surgical robot holds the largest market share by the product whereas the rehabilitation robots is the fastest growing segment. The dominancy is expected to be continued by the surgical robots due to the advantages offered such as minimally invasive procedure, less time consuming procedure and more. The market for medical robots by the product segment is expected to reach US$ 18,819.9 million by 2025 in the forecasted period. Surgical robots segment has the highest market share in 2017, contributing a market share of 46.3% and is expected to retain its dominance during the forecast period from 2018 to 2025 to account for a market share of 42.6% of the overall revenue generated in 2025.
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The objective or the scope the study was defining, describing, and forecasting the medical robots market on the basis of product, application, end user and region. In addition, analyzing the market structure, profiling the key players of the market, and comprehensively analyzing their core competencies. Tracking and analyzing competitive developments such as new product launches; market consolidations in the medical robots market. Moreover, the aim of the study was providing detailed information regarding the major factors or the reasons that are influencing the growth of the market medical robots in the five major regions such as North America, Europe, Asia Pacific, Middle East and Africa and South and Central America.