Press release
Asia-Pacific Medical Robot Market is Booming Globally with CAGR of 12.58% during period 2018-2023.
The value of the global medical robot market is expected to reach a value of USD 11.36 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 12.58% during 2018-2023.
Robots that are used for medical purposes are broadly known as medical robots. Medical robotics can be considered as the application of robotics technology to healthcare to diagnose and treat diseases, or to correct, restore or modify a body function or a body part. The market definition for the medical robot market would be the one which take into consideration products for assisting medical practitioners during surgery, for monitoring status of patients, and for increasing accuracy and precision. It also considers products useful for patients with disabilities The products from this market are used extensively across all age groups. These products are generally mechanical/electronic equipment used by doctors and patients.
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The medical robot market can be classified into three primary segments based on product (surgical robot, rehabilitation robot, non-invasive radiosurgery robot and others), application (neurology, orthopedic, cardiology, laparoscopy and others) and geography (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa).
Furthermore, surgical robots consist of neurological surgery robotic systems, cardiology surgery robotic systems, laparoscopic surgical robotic systems, orthopedic surgical robotic systems and steerable robotics. Rehabilitation robots comprise therapeutic robots, prosthetic robots, assistive robots and exoskeleton robots. Hospital and pharmacy automation robots includes pharmacy automation robots, IV robots.
The Asia-Pacific medical robot market is expected to grow to a value of USD 3.47Bn by 2023 at a CAGR of 18.74%.
Key growth factors
The major factor influencing the growth of the market in the region is the population. This is because the healthcare technological development in the region is quite low compared to other parts of the world. In addition to that, the development of new technology and awareness about its benefits and usage is not distributed uniformly, i.e., it is mostly present in the urban areas. This categorizes the market in the region to an untapped potential type, which holds many opportunities for the investors. The governments are trying to make inroads in this aspect by introducing various plans and schemes.
Threats and key players
The introduction of goods and services tax (GST) in India has put the healthcare industry in a tough situation as costs of basic healthcare facilities, like hospital room rent, have increased. Also, the price of various treatment types has increased significantly. This will discourage people from engaging in robotic surgeries, which are generally costlier than conventional surgeries. The sparse distribution of healthcare facilities in small pockets is also a threat to the market because the lack of transportation and logistics facilities will significantly increase costs of treatment in weakly connected areas.
The key competitors in the Asia-Pacific medical robot market are Omnicell, Intuitive Surgical, Ossur, Accuray, Mazor Robotics, Rewalk Robotics, Ekso Bionics, Elekta, Varian, Cyberdyne, etc.
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Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. Executive summary Asia-Pacific
Chapter 2: Asia-Pacific medical robot market market overview
2.1. Asia-Pacific market overview by revenue
2.2. Asia-Pacific market overview by countries: revenue, CAGR
2.3. Asia-Pacific market overview drivers, challenges and trends
2.3.a. Drivers
2.3.b. Challenges
2.3.c. Trends
2.4. Value chain
Chapter 3: Asia-Pacific segment overview
3.1. Asia-Pacific segment overview by product revenue, CAGR, write-up
3.1.a. Asia-Pacific segment overview by product: regional share (2023F)
3.2. Asia-Pacific segment overview by application revenue, CAGR, write-up
3.2.a. Asia-Pacific segment overview by application: regional share (2023F)
Chapter 4: Competitive landscape
4.1. Market share of key companies
4.2. Omnicell
- Company snapshot
- Products/services
- Strategic initiatives
- Geographical presence
- Key people
- Competitors
- Key numbers
4.3. Elekta
4.4. Ossur
4.5. Mazor Robotics
4.6. Ekso Bionics
4.7. Accuray
4.8. Rewalk Robotics
4.9. Varian
4.10. Intuitive Surgical
4.11. Cyberdyne
4.12. Porters five forces analysis
Chapter 5: Conclusion and outlook
5.1. Conclusion
5.2. Outlook 2020
......
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