Medical Robotics Market is expected to exhibit significant growth over the forecast period. The market was valued at approximately USD 23,432 Million by 2025 and is projected to register a 23.21% CAGR over the forecast period.
The primary factors contributing to the market growth worldwide are growing geriatric population, rising preference for minimally invasive surgeries (MISs), increasing adoption of advanced medical technologies and medical robotics, growth in funding for medical robot research, and mounting technological developments in the medical robotics coupled with increase in surgeon/patient acceptance of both laparoscopic procedures and robotic assistance. On the contrary, the dearth of trained medical personnel and safety concerns over robotic surgery devices are anticipated to limit the adoption of healthcare robotics over the forecast period.
also read @ https://www.medgadget.com/2019/10/medical-robotics-market-global-value-analysis-by-size-share-trend-latest-innovations-outlines-the-growth-factors-and-current-state-of-industry-by-2026.html
The demands for improved medical practices and rising healthcare budgets have helped the market in gaining the desired speeds on a global scale. The authorities are emphasizing the usage of such technologies and are investing largely in developing their healthcare facilities, which has also helped the market. Companies are working towards introducing better robotics mechanisms with fewer costs to expand the market and make it accessible for underdeveloped economies as well.
Apart from gaining a considerable response from the medical field, the global medical robotics market is still struggling against factors like lack of trained professionals and large installation & maintenance costs. Higher overall costs have restrained the market in several underdeveloped regions and will take time for any further improvements.
Medical Robotics Market Key Players
Smith & Nephew (UK), Stryker (US), Aethon (US), Intuitive Surgical (US), Mazor Robotics (Israel), InTouch Technologies, Inc. (US), Renishaw plc (UK), Medtech SA (France), Ekso Bionics (US), ReWalk Robotics (US), Medrobotics Corporation (US), and McKesson Corporation (US) are some of the key players operating in the global medical robotics market.
Medical Robotics market segments
The global medical robotics market is segmented into three parts mentioned below:
Product types: Surgical robotic systems, non-invasive robotic systems, robotic rehabilitation systems, and other types of products are available.
Uses: Medical robotics are used for cardiology, laparoscopy, neurosurgeries, pharmacy, and other procedures.
End-Users: Hospitals, clinics, rehabilitation centers, and others are the major end-users of this industry.
Medical Robotics Market Regional Summary
The major regions observed for the global Medical Robotics Industry are America, Europe, Asia Pacific, and The Middle East & Africa
The American region is the current market leader and will maintain its lead due to the projected highest growth rates during the survey period. The demands for the latest technologies, improving healthcare facilities, the presence of significant market players, high healthcare expenditures, and other factors are driving the market in this region. The North American region is the major shareholder of this market. The European region is the second biggest market due to demands for non-invasive surgical methods, high investments, and other factors.
The Asia Pacific region is the next market in this tally. Huge population, rise in per capita incomes, higher budget release for healthcare, demand for latest technologies, and other factors will keep boosting the market here.
The rest of the regions are growing at lower speeds due to weak economic structures and lagging healthcare structures.
Medical Robotics Market Industry News
The global medical robotics market is one of the latest advancements in the medical field and is receiving a healthy response from around the globe. Still, high overall costs of the equipment and lack of trained professionals is limiting the market’s growth rates. The American region is the current market leader and will stay at the top, with the highest growth rates during the survey period.
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