Medical Robot Systems Market Worth $3,764 Million by 2018 - New Report by MarketsandMarkets
(PRWEB) April 28, 2014
The "Medical Robots Market by Type (Surgical Robot, Rehabilitation Robotics, Telemedicine, Assistive Robots, Orthotics, Prosthetics, Radio Surgery, Exoskeleton) & Application (Orthopedic, Neurology, Laparoscopy) - Global Forecasts to 2018" analyzes and studies the major market drivers and restraints in North America, Europe, Asia, and the Rest of the World.
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This report studies the global medical robots market over the forecast period of 2013 to 2018. Medical Robotic Systems Market was valued at $1,781 million in 2013 and is expected to reach $3,764 million by 2018, growing at a CAGR of 16.1% from 2013 to 2018.
The global medical robots market is categorized into five broad segments, namely, surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmacy robots, and others. Based on applications, the medical robotic systems market comprises neurology, orthopedics, laparoscopy, special education, and other areas.
The surgical robots segment is categorized into orthopedic surgical robots, neurosurgical robots, laparoscopy robotic systems, and steerable robotic catheters. The sub-segments for the rehabilitation robots market are assistive robots, prosthetics, orthotics, therapeutic robots, and exoskeleton robotic systems. Hospital and pharmacy robots are sub-segmented into telemedicine robots, i.v. robots, and pharmacy robots.
Over the years, the demand for medical robotics has increased significantly. This can be attributed to the paradigm shift in the healthcare industry, where more emphasis is being laid on minimally invasive surgeries through the use of robots. Surgical robots improve the accuracy of procedures and thus reduce the complication rates in surgeries. Apart from being accurate, robotic procedures also offer significant cost savings in terms of pre- and post-operation care costs and length of stay at hospitals. Furthermore, technological advancements and breakthroughs such as expanded applications of robotic systems, robotics combined with imaging platforms, and capsule robot systems are expected to drive the growth of the global medical systems market in the coming years.
The other factors that are driving the growth of the global medical robotic systems market include growth in aging population, rise in the incidences of neurological and orthopedic disorders, and growth in the demand for telemedicine. Moreover, owing to the increased demand and usage of robot assisted procedures, various government bodies are increasingly supporting the development of medical robots.
The key players in the global medical robots market are Intuitive Surgical, Inc. (U.S.), Accuray, Inc. (U.S.), MAKO Surgical Corp. (U.S.), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (U.S.), Titan Medical, Inc. (Canada), and Health Robotics S.R.L. (Italy), among others.
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