According to the report, the medical robotics systems market is presumed to witness an exponential CAGR of 21.5%. The market for medical robotics systems, which was valued at US$ 2,257.8 Mn in 2018 is anticipated to reach US$ 10,710.6 Mn by the end of 2026. It is expected to gain traction as market players are focusing constantly on introducing innovative and advanced surgical robots.
In terms of product type, the global medical robotic systems market was dominated by the surgical robot's segment in 2018 and the segment is likely to continue dominating the market in the coming years. This segment accounted for 64.8% of the market in 2018. This is attributable to the rapid advancement in surgical robots and their efficient performance in minimally invasive surgeries.
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Highlights of the Report:
-- Analysis of the impact of Covid-19 that the market would face in the near future.
-- In-depth analysis of the growth drivers and obstacles.
-- Profile of all the companies operating in the market.
-- Elaborate data about the dominating region.
-- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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To get the short-term and long-term impact of COVID-19 on this Market.
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Rising Cases of Co-morbidity Diseases Boosting Market
Various factors are aiding growth of the booming medical robotic systems market including the rise in number of trauma injury cases, advancement in technology and increasing healthcare facilities and expenditures. Besides this, the rise in geriatric population and the co-morbidity diseases is creating growth opportunities for surgical procedures. The advent of robots into the medical industry is considered an important factor creating lucrative growth opportunities for the overall market in the long run.
The rapid shift from conventional open surgeries towards minimally invasive surgical procedures is another major factor accelerating growth of the market. The efficiency of surgical robots to perform laparoscopic surgical procedures is getting higher by the day. This is further helping to increase the demand for medical robots, thus boosting the market globally.
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North America to Hold Dominance on Account of Higher Per Capita Income to Afford Robotic Surgical Procedures
Fortune Business Insights foresees the global medical robotic systems market to be dominated by North America. This is owing to the increasing number of patients undergoing minimally invasive surgeries and the high per capita income of people in the developed nations of the U.S., and Canada.
In addition to that, the number of patients suffering from neurological disorders is also increasing which further propels the demand for rehabilitation and surgical robots for treatment facilities along with the others. Such factors are responsible for North America to enjoy a dominant position in the global medical robotic systems market.
Market players are investing huge sums in the research and development for upgrading surgical robots and other medical robots in order to provide better medical assistance.
List of the players operating in the global medical robotic systems market:
-- Zimmer Biomet
-- Intuitive Surgical Inc.
-- Smith & Nephew
-- CYBERDYNE INC.
-- Ekso Bionics
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Medical Robotic Systems Market Segmentations:
? Surgical Robots
? Telepresence Robots
? Rehabilitation Robots
By End User
? Ambulatory Surgery Centers
? Rehabilitation Centers
? North America (USA and Canada)
? Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
? Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
? Latin America (Brazil, Mexico and Rest of Latin America)
? Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Surgical Robots Market Share and Global Trend By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Geography Forecast till 2026
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