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Medical Robotic Systems Market (Type - Surgical Robots, Non-invasive Radiosurgery Robotic Systems, Prosthetics/exoskeletons, Assistive and Rehabilitation Systems, and Non-medical Robotics in Hospitals; Application - Neurology, Orthopedics Robotic Systems, Laparoscopy, and Special Education): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : HC0719

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on medical robotic systems market provides in-depth analysis of segments and sub-segments in the global as well as regional medical robotic systems market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical robotic systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global medical robotic systems market. According to the report, the global medical robotic systems market is projected to grow at a CAGR of 19.06% over the forecast period of 2020-2026.

 

Market Insight

Robots used in the medical industry, ranging from numerous applications surgical interventions to rehabilitation are recognized as medical robots. The ever-growing efficiency of these robots in performing tasks that comprise surgeries has been pivotal in the rapid adoption of these robots in the medical industry. Furthermore, these robots help doctors to perform operations with more accuracy. There is an extensive range of medical applications that have emerged, such as laboratory robots, surgical robots, telesurgery, remote surgery, and teleconsultation robots. Moreover, medical robots support operations and condense the risk of infection to a great amount. Medical robots provide several benefits, for example, lesser post-operative pain, a minimum level of anesthesia, and decreased level of blood loss, among others.

 

The increasing healthcare expenditure and advancements in the technology and technique to treat patients by minimally invasive methods are anticipated to drive the growth of the medical robotic systems market in the near future. Such systems help in decreasing chronic pain and hospital stay, and upsurges the accuracy of surgery, hence being a preferred option. Non-invasive radiosurgery robots deliver non-invasive treatment for patients suffering from composite tumors. Moreover, the increasing geriatric populations, who are more prone to higher risk injuries owing to their weak skeletal system, are projected to boost medical robotic systems market growth. On the other hand, the high cost of installation and maintenance of the medical robotic system is estimated to hinder the growth of the market during the projection period.

 

Furthermore, the novel coronavirus has impacted a large number of economies and is turning out to be even worse than the critical economic, strategic, and political clashes happening internationally. The outbreak has and still is impacting all industries, including the healthcare IT sector. The growth in the global healthcare IT spending is expected to reduce by 3-4% by the end of 2020, considering the ‘pessimistic scenario,’ due to the COVID-19 pandemic. The Medical Robotic System providers will experience a decrease in demand due to the current COVID-19 pandemic. Currently, as the entire health care system is primarily focused on treating the virus, the spending on the new robotic system will be low during the 2020 COVID-19 outbreak. Whereas the major impact is projected to be on hardware business, comprising devices, the software, and services businesses are also anticipated to slow down due to the spread of novel coronavirus.

 

Among the geographies, the North America region is expected to hold the largest share in the global medical robotic systems market owing to the increasing demand for robot-assisted surgeries and rising healthcare expenditure. Further, factors such as the increasing geriatric population with weak bone density levels and injuries encountered during accidents are upsurges the demand for the medical robotics system. Furthermore, the Asia Pacific region is projected to witness the fastest growth in the medical robotic systems market during the forecast period owing to the rising healthcare infrastructure. In addition, the rising awareness about the advanced treatment procedures and increasing demand for healthcare facilities in emerging economies such as China and India drive the medical robotic systems market in this region.


Medical Robotic Systems Market

 

Segment Covered

The report on the global medical robotic systems market covers segments such as type, and application. On the basis of type, the sub-markets include surgical robots, non-invasive radiosurgery robotic systems, prosthetics/exoskeletons, assistive and rehabilitation systems, and non-medical robotics in hospitals. On the basis of application, the sub-markets include neurology, orthopedics robotic systems, laparoscopy, and special education.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Stryker Corporation, Intuitive Surgical, Medtronic Plc, Kinova Robotics, Accuray Inc, Ekso Bionics Holdings Inc., MAKO Surgical Corp, Auris Health Inc., and Renishaw Plc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of medical robotic systems market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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