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Medical Robotics Market Growth Opportunities Analysis Report
Medical Robotics Market
According to the report, the medical robotics market in Southern Europe & Middle East was valued at US$ 239.6 Mn in 2020 and is projected to expand at a CAGR of 11.5% from 2021 to 2031. Medical robots are robotic machines used in the field of medicine. These can be divided into three categories:
Medical devices, such as surgical robotics, diagnostics, and medication delivery systems
Wearable robots and rehabilitation devices
Robots that replicate the human body, such as prostheses, artificial organs, and body-part simulators
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In the late 1980s, the first commercial surgical robots were built, and the first commercial myoelectric prostheses were being used in rehabilitation centers across the world. The medical robotics market in Southern Europe & Middle East is driven by increase in investment in research & development and rise in prevalence of chronic diseases.
Rise in Number of Surgical Patients and Rapid Growth of Robotic Technology
Robotic surgery has been widely used in various surgical procedures in the past few years. The surgical robotics market in Southern Europe & Middle East is driven by increase in the number of geriatric and surgical patients, technological advancements, and focus on robotics training for clinicians. Other technological advances in medical robotics include incorporation of magnetic resonance imaging and 3D ultrasound to facilitate real-time imaging for efficient procedure planning and easy future reference. Intuitive Surgical received the U.S. FDA and CE mark approval for da Vinci X systems in the U.S. and Europe in May 2017 and April 2017, respectively.
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Instruments & Accessories Segment to Lead Southern Europe & Middle East Medical Robotics Market
In terms of component, the medical robotics market in Southern Europe & Middle East has been classified into systems, instruments & accessories, and services & others. The instruments & accessories segment was valued at US$ 127.2 Mn in 2020 and is projected to reach US$ 418.4 Mn by 2031, expanding at a CAGR of 11.1% from 2021 to 2031. The segment's dominance is attributed to increase in usage of instruments and accessories during every surgical procedure.
Urological Surgery to be Lucrative Application
In terms of application, the medical robotics market in Southern Europe & Middle East has been categorized into gynecological surgery, urological surgery, general surgery, orthopedic surgery, and others. The urological surgery segment was valued at US$ 79.9 Mn in 2020 and is anticipated to reach US$ 274.8 Mn by 2031, expanding at a CAGR of 11.3% from 2021 to 2031.
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Southern Europe to Lead Medical Robotics Market
In terms of region, the medical robotics market has been segmented into Southern Europe and the Middle East. The medical robotics market in Southern Europe was valued at US$ 176.6 Mn in 2020 and is expected to reach US$ 625.6 Mn by 2031 at a CAGR of 12% during the forecast period. High preference for minimally invasive surgeries and surge in investment by major players & government organizations in medical robotic systems are likely to boost the growth of the market in Southern Europe during the forecast period.
Competition Landscape
The medical robotics market in Southern Europe & Middle East is highly consolidated due to the presence of a small number of leading players. Key players operating in the market include Accuray Incorporated, Asensus Surgical, Inc., Avateramedical GmbH, Intuitive Surgical, Inc., Johnson & Johnson Services, Inc., KUKA AG, Medtronic plc, Renishaw plc, Smith+Nephew, Stryker Corporation, and Zimmer Biomet.
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Southern Europe & Middle East Medical Robotics Market: Segmentation
Southern Europe & Middle East Medical Robotics Market, by Component
Systems
Instrument & Accessories
Services & Others
Southern Europe & Middle East Medical Robotics Market, by Application
Gynecological Surgery
Urological Surgery
General Surgery
Orthopedic Surgery
Others
Southern Europe & Middle East Medical Robotics Market, by End-user
Hospitals
Ambulatory Surgical Centers
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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