The North America Medical Robots Market is expected to reach USD 4.62 billion by 2021 from USD 1.86 billion in 2016, growing at a CAGR of 19.91%. The Medical Robots market is forecasted to show evident potential in the mentioned period. The market continues to build momentum with the increase in technological advancements in the field of pharma and healthcare, as a result of which the doctors are able to treat patients with such ailments which can’t be cured as effectively by a human surgeon. Therefore, more and more companies have shown interest in this market recently.
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Medical Robots are the robots which are used in medical sciences. These robots are of various types including surgical robots and others. Medical robots assist in carrying out tasks with more precision than any unaided human surgeon or even provide the option of remote surgery in cases of unavailability of human surgeon.
The advancements in technological for the healthcare field have been one of the key factors driving the market for Medical Robots. Apart from this, other major factors contributing to the growth of the market include Issuance of Ipos by Medical Robots companies, increase in funding for Medical Robots research, growing hospital investments in Medical Robots and the advantages offered by Robot-Assisted Training in Rehabilitation Therapy. Further, there are few restraints and challenges faced by the market as well. The major ones are high cost of Robotic Systems with unjustified cost benefits of Robotic Surgeries and safety concerns over Robotic Surgery Devices.
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The Medical Robots Market has been segmented based on Product and Applications. On the basis of Product, the segments are surgical robots, Non-invasive Radiosurgery Robotic systems, Rehabilitation Robotic Systems, Pharmacy and Hospital Robotic Systems and others. The surgical robots are further fragmented into Laparoscopy Robotic Systems, Neurosurgical Robotic Systems, Orthopaedic Robotic Systems, and steerable Robotic Systems. Further, for Rehabilitation Robotic systems the sub segments include Therapeutic Robotic Systems, Prosthetic Robotic systems, Assistive Robotic Systems, Exoskeleton Robotic Systems, Orthotic Robotic Systems and for Hospital and Pharmacy Robotic Systems the sub segments are Pharmacy Robotic Systems, Telemedicine Robots and IV Robotic Systems. On the basis of Application, the market has been segmented into Laparoscopy, Neurology, Orthopaedics, Special Education and others. Though neurology is predicted to have the highest CAGR but Laparoscopy is still expected to dominate the market share. Based on geographical analysis, the market is analysed under two countries namely United States and Canada.
Some of the major companies holding the larger share of the market include Intuitive Surgical Inc., Hocoma AG, Hansen Medical Inc, Mazor Robotics Ltd, Accuray Incorporated, Arxium, Stryker Corporation, EKSO Bionics Holdings Inc., Omnicell Inc., Kirby Lester LLC.
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