Medical Robots Market | Ongoing Trends and Recent Developments | Major Key Players like Intuitive Surgical (US), Stryker Corporation (US), Mazor Robotics (Israel)

The key factors propelling the growth of the Medical Robots Market are technological advancements in medical Robots, advantages offered by robot-assisted training in rehabilitation therapy, increase in funding for medical robot research, and the issuance of IPOs by medical robot companies. Rapid growth in the geriatric population and rising patient preference for minimally invasive surgeries is likely to offer growth opportunities during the forecast period.

What the market looks like?

The Global Medical Robots Market is projected to reach a value of USD 22.10 billion by 2027 from an estimated USD 6.46 billion in 2018, at a CAGR of 14.6%.

On the basis of product, the Medical Robots Market is segmented into instruments & accessories and robotic systems. The robotic systems segment has been further segmented into surgical robotic systems, rehabilitation robotic systems, noninvasive radiosurgery robotic systems, and hospital and pharmacy robotic systems. The rehabilitation robotic systems segment is further bifurcated into therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems, and other rehabilitation Robots. The therapeutic robotic systems segment is projected to grow at the highest CAGR during the forecast period

Among applications, the Medical Robots Market has been segmented into laparoscopy, neurosurgery, orthopedic surgery, pharmacy applications, and other applications (medical robotic applications in gynecology, urology, cardiology, nanomedicine, and rehabilitation). The neurosurgery application segment is expected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing precision and improved quality of medical Robots which have encouraged the use of Robots in neurosurgery.

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Geographical growth scenario of Medical Robots Market:

North America is expected to account for the largest share of the Medical Robots Market in 2018, followed by Europe. The large share of this region can be attributed to the increasing adoption of surgical Robots by hospitals in the region, favorable funding scenario for research on medical Robots, and the availability of technologically advanced medical Robots.

Factors driving and restraining market growth:

The worldwide market for Medical Robots has seen a transforming change over the past few years and is expected to continue to do so in the coming years as well. This growth can be majorly contributed to the following factors:
• Advantages Offered By Robot-Assisted Training in Rehabilitation Therapy
• Technological Advancements
• Increase in Funding for Medical Robots Research
• Issuance of IPOS By Medical Robot Companies

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Key companies and strategies adopted:

The global Medical Robots Market comprises key players, such as Intuitive Surgical (US), Stryker Corporation (US), and Mazor Robotics (Israel) are the key players in the Medical Robots Market. Other players involved in this market include Hocoma (Switzerland), Hansen Medical (US), Accuray (US), Omnicell (US), ARxIUM (Canada), and Ekso Bionics Holdings (US). Product launches, approvals, and product enhancements; mergers and joint ventures; agreements and partnerships; acquisitions; and expansions were the key strategies adopted by players in the Market

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