Global Medical Robotic Systems market report puts a light on various factors that have direct or indirect effect on the growth of business which includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the ABC industry. Additionally, a detailed analysis of factors influencing the investment is provided which forecasts forthcoming opportunities for the businesses and develops the strategies to enhance return on investment (ROI).
Rise in technological advancements and increased adoption of these systems worldwide has been one of the major driving factors for the market growth. This trend will see the market rise from an initial estimated value of USD 7.08 billion in 2018 to an estimated value of USD 30.4 billion by 2026 registering a CAGR of 20% in the forecast period of 2019-2026. Increased acceptance of these systems is also acting as a major market driver.
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Competitive Analysis:
The Global Medical Robotic System Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Medical Robotic System market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the Medical Robotic System Market are Intuitive Surgical, Stryker, Hocoma, Mazor Robotics, Auris Health Inc., Omnicell Inc., ARxIUM, Ekso Bionics, CMR Surgical Ltd, Capsa Healthcare, Accuray Incorporated, TransEnterix Surgical Inc., Stereotaxis Inc., ReWalk Robotics, Titan Medical Inc., Medtech SA, Aethon, Medrobotics Corporation, InTouch Technologies Inc., McKesson Corporation, Renishaw plc., Varian Medical Systems Inc., OR Productivity PLC, and Siemens Healthcare GmbH.
Global Medical Robotic System Market Segmentation:-
- By Type (Orthopedic Surgical Robots, Neurosurgical Robots, Laparoscopy Robots, Steerable Robotic Catheters, Rehabilitation Robots, Hospital and Pharmacy Robots, Emergency Response Robots, Noninvasive Radiosurgery Robots),
- Application (Neurosurgery, Orthopedics, Telemedicine, Laparoscopy, Others),
- Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Market Definition:
Medical robotic systems are self-powered devices aimed at guiding the surgeon, his positioning and manipulation of surgical instruments. These systems aid in performing minimally invasive surgeries effectively and efficiently with utmost precision. They have been variedly used in different types of surgeries already with a high success rate.
US in the region of North America dominated the market share in 2017, and it is set to stay at top again by the end of the forecast period of 2018-2025 growing at a CAGR of 18.4%.
Market Drivers:
- Increased advancements in the technology and overall adoption is acting as a factor which is driving the market growth
- The demand for medical robotic system is on the rise due to their advantages in minimally invasive surgeries and their enhanced abilities in precise procedures
Market Restraints:
- Lack of knowledgeable professionals to utilize the robots and their systems act as a major restraint for the market
- High cost of installation and maintenance of these systems also causes the market to be restrained
Global Medical Robotic System Market Segmentation:
- By Type
- Orthopedic Surgical Robots
- iBlock surgical system
- Robodoc surgical system
- Navio PFS surgical system
- MAKO RIO surgical system
- Stanmore sculptor surgical system
- Neurosurgical Robots
- Pathfinder surgical system
- NeuroMate surgical system
- Renaissance surgical system
- Laparoscopy Robots
- FreeHand endoscope holder system
- Da Vinci robotic surgery system
- Telelap ALF-X surgical system
- Steerable Robotic Catheters
- Rehabilitation Robots
- Assistive robots
- Prosthesis
- Orthotics
- Therapeutic robots
- Exoskeleton robotic systems
- Hospital and Pharmacy Robots
- Telemedicine robots
- V. robots
- Pharmacy robots
- Cart transportation robots
- Emergency Response Robots
- LS-1 robotic system
- Auto Pulse Plus robotic system
- Noninvasive Radiosurgery Robots
- TrueBeam STx radiosurgery system
- CyberKnife robotic radiosurgery system
- Gamma Knife Perfexion radiosurgery system
- Orthopedic Surgical Robots
- By Application
- Neurosurgery
- Orthopedics
- Telemedicine
- Laparoscopy
- Others
Key Insights in the report:
- The key market players are analyzed and their effects on the market is also observed
- Market analysis is conducted for the forecast period of 2018 to 2026, and the market segmentations are observed during that period
- The market drivers and restraints have been clearly analyzed for the effect that they have over the market in the forecast period of 2018 to 2026
Research objectives
- To perceive the most influencing pivoting and hindering forces in Medical Robotic Systems Market and its footprint in the international market.
- Learn about the market policies that are being endorsed by ruling respective organizations.
- To gain a perceptive survey of the market and have an extensive interpretation of the Medical Robotic Systems Market and its materialistic landscape.
- To understand the structure of Medical Robotic Systems Market by identifying its various sub segments.
- Focuses on the key global Medical Robotic Systems Market players, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Medical Robotic Systems Market submarkets, with respect to key regions (along with their respective key countries).
- To strategically profile the key players and comprehensively analyze their growth strategies
- To analyze the Medical Robotic Systems Market with respect to individual growth trends, future prospects, and their contribution to the total market.
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