San Francisco, California, May 23, 2017: Medical robots are being increasingly acknowledged for their unmatched promptness and extreme precision, which are requisites for various tasks in hospitals, especially surgeries. A report by TMR Research, titled “Medical Robots Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers reliable insights into the competitive scenario of the market. It takes into consideration the historic and current dynamics of the global medical robots market to estimate future trends.
The increasing awareness regarding the numerous benefits of robot-assisted training in rehabilitation therapy is boosting the demand for medical robots. Constant advancements in the robotics technology coupled with the growing investments by governments of developed regions are stoking the growth of the market. Continuous research and development activities in the field of medical robotics are opening up new applications of robots in hospitals.
However, a raft of emerging ethical and legal issues related to robot-assisted surgeries is inhibiting the growth of the global medical robots market. The high cost of robotic systems is also restricting their widespread adoption. Nevertheless, the increasing efforts by manufacturers and regulatory agencies to address various patient safety concerns are providing a tremendous boost to the global market.
On the basis of geography, the report segments the market into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America will account for a substantial share in the revenue pie of the global medical robots market. The presence of robust healthcare infrastructure along with the higher acceptance of technologically advanced products for medical practices is propelling the growth of the region. Asia Pacific is expected to exhibit an impressive CAGR during the review period. The increasing adoption of medical robots can be attributed to the green flag shown by various regulatory bodies in Japan for the usage of robots in several medical practices. Besides this, the growing prevalence of cancer and the rising robotic-assisted procedures in hospitals in emerging countries such as India and China are also propelling the growth of the market in APAC.
The global medical robots market is highly competitive and fragmented in nature. The market features a handful of large players and a raft of fragmented small and medium- scale companies. The market participants are competing fiercely in terms of pricing and innovation. The market is likely to witness an increase in collaborations between stakeholders in emerging regions in the near future. Some of the key companies operating in the global medical robots market are Mazor Robotics Ltd., Intuitive Surgical Inc., Hocoma AG, Stryker Corporation, Omnicell Inc., Hansen Medical Inc., Ekso Bionics Holdings Inc., Accuray Incorporated, and Kirby Lester LLC.