North America is anticipated to have the upper hand over the global market in terms of revenue share owing to increasing investment in R&D activities coupled with rapid technological advancement in healthcare industry in the region.In terms of market growth, Asia Pacific is anticipated to be the most attractive market witnessing a compound annual growth rate of 17% over the forecast period i.e. 2016-2023. This is mainly attributed towards the development of medical infrastructure in the region.
Surgical robots segment accounted for the highest market share of 40% in 2015, the market is anticipated to expand with a promising compound annual growth rate over the forecast period. This can be attributed towards the increasing acceptance of medical robots in cardiac, orthopedic, and neurosurgery.
The rehabilitation robotics segment is expected to exhibit the fastest growth, with a compound annual growth rate of 20% during the forecast period. Rehabilitation robots are gaining popularity due to the rising aging population subject to increasing physical disabilities and this will further expand the demand of rehabilitation robots over the forecast period i.e. 2016-2023.
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The rising need of advance technology in healthcare industry, increasing patient pool and extensive application of medical robots in critical surgeries such as cardiac, orthopedic, and neurosurgery are some of factors that drives the medical robotics market across the globe.
Favourable government reforms towards the development of healthcare industry such as Patient Protection and Affordable Care Act (PPACA) based in U.S which encourages the market players to adopt technologically advanced treatment methods, the act provide incentives to the hospitals to promote the adoption of advance medical treatment in order to improve the quality of medical services in the country is anticipated to propel the market growth. Government of developing countries are also taking initiatives to develop the medical infrastructure of the country, this will further expand the medical robotics sector.
Increasing acceptance of medical robotics in healthcare industry along with the increasing contribution of medical robots in complex cases is anticipated to fuel the demand of medical robotics in the upcoming 5-6 years.
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By Product Type
Deep dive study has been carried out on the following medical robotics products:-
Instruments and Accessories
Robotic Systems
Surgical Robots
Laparoscopy Surgical Robotic Systems
Orthopaedic Surgical Robotic Systems
Neurosurgical Robotic Systems
Steerable Robotic Catheters
Rehabilitation Robots
Therapeutic Robots
Assistive Robots
Prosthetics
Orthotics
Exoskeletons
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