DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/jdnsh5/medical_robots) has announced the addition of the "Medical Robots Market by Product (Robotic systems, Instruments & Accessories) & Application (Orthopedic, Laparoscopy, Neurology) - Forecasts to 2020" report to their offering.
The medical robots market is expected to reach USD 11.4 Billion in 2020 from USD 4.2 Billion in 2015, at a CAGR of 22.2%
The medical robots market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate. The high growth of the region can be attributed to the rise in aging population in the region, growing adoption of medical robots, high prevalence of cancer, funding and collaboration initiatives supported by governments, and establishment of training programs that train surgeons for performing robots assisted surgeries.
Medical robots, an emerging field in healthcare is causing a paradigm shift in healthcare as it improves the quality of patient care. Demographic change, shortage of healthcare professionals, need to improve quality of life for the disabled and elderly, and need to improve surgical procedures coupled with the focus to develop technologically advanced robots are some of the factors expected to stimulate growth in the medical robots market.
The global medical robots market is segmented on the basis of segment, application, and region. By segment, medical robots market is categorized into instruments and accessories, and robotic systems. In 2015, the instruments and accessories segment is estimated to account for the largest market share and expected to grow at the fastest rate.
Based on application, the medical robots market is segmented into neurology, orthopedics, laparoscopy, special education, and others. In 2015, the laparoscopy segment is expected to account for the largest share of the medical robots application market. The dominance of this segment can be attributed to the high volume of laparoscopy surgical procedures carried out using robotic systems. In 2015, the neurology application segment is expected to register the highest growth in the medical robots application market due to the advent of newer applications in neurosurgery and the growing popularity of robotic neurosurgery.
Some major players in the global medical robots market include Intutive Surgical, Inc. (U.S.), Stryker Corp. (U.S.), Accuray, Inc. (U.S.), Medtech (France), MAZOR Robotics (Israel), Hansen Medical, Inc. (U.S.), Kirby Lester (U.S.), Aesynt Inc (U.S.), IRobot Corporation (U.S.), ReWalk Robotics (Israel), and Hocoma AG (Switzerland).
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