Medical Robotics Market Analyzed for Booming Expansion at 20.8% of CAGR by 2023

Market Research Future
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The Worldwide Medical Robotics Market research report is growing with the rapid pace; mainly due the burgeoning Healthcare Sector. According to a recent study report published by the Market Research Future, The Global Medical Robotics Industry Research report is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a huge growth by 2023, surpassing its previous growth records in terms of value & volume. Considering all these factors The World Medical Robotics Market is expecting a lavish growth of 20.8% during forecasted period of 2017-2023.

Market Research Future published new report, titled “Medical Robotics Market -Research Report: Global Forecast to 2023”.

Major Players: Stryker Corporation (US), Smith & Nephew Ltd. (UK), Aethon Inc. (US), Intuitive Surgical, Inc. (US), Intouch Health Technologies, Inc. (US), Varian Medical System, Inc. (US), Medtech SA (France), Titan Medical, Inc. (US), Ekso Bionics Holdings, Inc. (US), ReWalk Robotics (Israel), Medrobotics Corporation (US), KUKA Roboter GmbH (Germany), Kinova (US), Myomo Inc. (US), Carefusion Inc.(US),  Hocoma AG (Switzerland), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (US), Transenterix, Inc. (US), ZOLL medical corp. (US), and Auroba biomed Inc. (US) are some of the prominent players at the forefront of competition in the Global Medical Robotics Market and are profiled in MRFR Analysis.

Medical Robotics Global Market   – Overview

Medical Robotics is a prevailing technology among other medical technologies, allowing more accuracy and perfection for the treatment. Medical Robotics have become smarter proving crucial in an age of austerity, ageing & growing populations, and the shortages of medical staff. With the involvement of Artificial Intelligence (AI) and Augmented Reality(AR), Medical Robotics have reached par excellence supporting cost effective Healthcare, eradicating the scope for human error, streamlining operating theatres, making the operating procedures time efficient and, most importantly, saving time of healthcare staff. With thorough precision, eloquent AI and advanced algorithms, Medical Robotics are providing surgical and other assistance to hospitals, As the Medical Robotics advances, The Global Medical Robotics Market is growing with added momentum gaining  additional onsideration and traction.

The Market Research Future, accrediting the splendid achievement of Medical Robotics Market has recently published a brilliant study report letting out the potential growth prospects of the Medical Robotics Market and highlighting the market insights to 2023. The MRFR analysis indicates that the global Medical Robotics Market is foreseen to perceive a phenomenal growth by 2023, registering a whooping double digit CAGR of 20.8% during the estimated period (2017 – 2023).

The Medical Robotics Global Market is predominantly driven by the rising demand for the more accurate surgeries ensuring precision coupled with the growing prevalence of accidents and diseases. Additionally, growth prospects demonstrated by the field of medical robotics, along with the rising investments transpired by the key industry players in R&D activities to improve the technology and increasing funding for the Medical Robotics are creating the major revenue pocket for the global Medical Robotics market. Furthermore, rising uptake of Medical Robots in the healthcare sector emphasising up on positive outcomes of procedures is fostering the growth of Medical Robotics market up to a large extent. Moreover, the advantages offered by medical robots that allows surgeons to remotely operate robots and perform surgery and surgeons can perform a surgical procedure in emergency situations through telesurgery, with the aid of an imaging device. This, predominantly adds a great impetus to the Medical Robotics market growth.

Despite the promising growth prospects, Medical Robotics industry is still in its nascent stage which prompts some implications such as in terms of logistics, there is extensive training time required for physicians to learn to program and operate machines. Further, there are issues with latency, the time lapse between the moments when the physicians direct the controls and when the robot can respond. Which develops the chance of human error despite the precision of these Robots if the physician programs the robot incorrectly prior to surgery. A human surgeon can make needed adjustments during an operation while a computer program may not be able to change course as rapidly. These factors currently are posing challenges to the growth of Medical Robotics Market; and should be dealt with immediately,    before setting up for the galore accruals to take place.

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Medical Robotics Market – Competitive Analysis

Various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.

Industry/ Innovation/ Related News

September 2017 – Cambridge Medical Robotics (UK), declared that it had closed the series-A funding round with $26 million of investment, following an initial round of more than $20 million at the end of last year. CMR is working on revolutionizing the world of surgery by delivering what the firm believes is the next generation surgical robot. More versatile, affordable, and easier to use than other robots on the market, CMR’s Versius system is already generating significant interest.

November 2017 – Xiaoyi, an AI-powered robot in China, took the National Medical Licensing Examination and passed, making it the first robot to have done so. Not only did the robot pass the exam, it actually got a score of 456 points, which is 96 points above the required marks. Xiaoyi is just one example of how much China is keen on using AI to make a number of industries more efficient.

Medical Robotics Market – Segmentations

Global Medical Robotics Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation by Product: Comprises – Medical Surgical Robotic Systems (Neurosurgical Robotic Systems, Orthopaedic Robotic Systems, Laparoscopy Surgical Robotic Systems and other), Rehabilitation Services (Prosthetic Robots, Orthotics Robots, Assistive Robots, Therapeutic Robots and other), Hospitals & Pharmacies (Pharmacy Robot, I.V. Robots and other), Accessories and other.

Segmentation by Application: Comprises – Cardiology, Neurology, Laparoscopy, Rehabilitation, and other.

Segmentation by Region: Comprises – Geographical Regions.

Medical Robotics Market – Regional analysis

On regional basis, America dominates the global medical robotics market. America holds over 40% of total market owing to increasing demand for the robot-assisted surgeries, well developed healthcare infrastructure and high healthcare expenditure. Increasing need of automation and advanced devices has also contributed in the growth of the market. Europe has the second largest market which is followed by Asia Pacific. Due to presence of huge opportunities for development of market and continuously improving healthcare infrastructure are the key factor for the growth of the Asia Pacific market.

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