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Medical Robots Market Trends and Share Analysis, Future Innovations and Competitive Analysis of Major Global Players, Growth Forecast 2021 to 2028

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A top-down investigation of the components impacting speculation is presented in the global Medical Robots Market report that estimates close freedoms for organizations and encourages systems to further develop business profit (ROI ). The reason for the market report is to give a point-by-point review of the industry and its effects based on the applications and various geological areas. This market brief envelops a portion of the global Medical Robots Market and all its related organizations with their profiles, which gives important information related to their perspective regarding accounts, item portfolios, growth strategies and advertising and commercial procedures.

The information and data on the Medical Robots market is pulled from solid sources such as websites, annual reports of organizations and journals and then approved by market specialists. It covers major producers, suppliers, wholesalers, dealers, customers, donors and major types, important applications. Major players in the Medical Robots market are taking actions such as item shipments, joint efforts, advancements, consolidations, and acquisitions which are influencing the market and the industry as a whole and further influencing the company, import, product, revenue and CAGR estimates. The reliable market review report sheds light on the key elements of the region’s market.

The Global Medical Robots Market Expected to experience a very fruitful period with frequent technological advancements, the market will grow from its initial estimated value of USD 5.9 billion in 2018 to an estimated value of USD 28.9 billion by 2026, registering a CAGR of 21.8 % over the forecast period of 2019 -2026

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Market Definition: Global Medical Robots Market

Medical robots are mechanical robots used in medical services. They help with surgery, rehabilitation or even the delivery of medical pharmaceuticals. Medical robots are used in a variety of surgical practices. These robots act as a remote manipulator acting on behalf of the surgeon to perform dangerous tasks or even the most precise procedures.

North America held the highest market share in 2017 and so will by the end of the forecast period. The Asia-Pacific region will experience the highest growth rate of any region.

Global Medical Robots Market, By Product (Instruments & Accessories, Surgical Robots, Rehabilitation Robots, Non-invasive Radiosurgery Robots, Hospital & Pharmacy Robots, Others), Application (Laparoscopy, Orthopedics, Neurosurgery, Pharmacy, Others), Geography ( North America, South America, Europe, Asia-Pacific, Middle East & Africa) Industry Trends and Forecasts to 2026

Market factors:

  • Medical robots offer a variety of rehabilitation techniques and are highly effective compared to conventional rehabilitation techniques, this factor will be a major growth in the market.
  • Technological advancements have improved the medical robot market due to the close working relationship between doctors and the medical robot industry, which has improved the growth potential of the medical robot market.

Market constraints:

  • Lack of knowledge about the operations of these robots and the appropriate information required of surgeons regarding these robots is a major constraint in the market.
  • High costs prevent the industry from properly gaining market share

Medical robots are automated mechanical components and robots that improve the delivery and quality of healthcare services. These robots are differentiated by the operation they provide and are therefore of different varieties. These robots provide surgical assistance, diagnostic enhancements and patient rehabilitation as well as pharmaceuticals. They can even perform some high-risk surgeries while helping surgeons by acting as their remote manipulator in the operating room.

The market for medical robots is growing due to the efficiency and variations in rehabilitation; technological advances in medical robots; the effects of these factors are mentioned below:

  • Effectiveness and variations in the delivery of rehabilitation: There is an increasing demand for a highly effective and efficient rehabilitation procedure, which increases the adoption rate of medical robots. This is because these robots can support a greater weight load without the patients suffering from falls or failures. These robots can improve the overall health services, as they lead to a reduction in the number of patients undergoing rehabilitation processes. They also present some different rehabilitation methods compared to traditional rehabilitation processes which are not as effective for the patient.
  • Technological advances in medical robots: Various medical device manufacturers have launched various strategies of collaboration and involving physicians, surgeons who are experts in their fields to improve the overall operability of medical robots. These experts have provided valuable information and input to manufacturers, resulting in various innovations and technical advances in robots. This strategy increases the potential for new collaborative processes and innovations in the field of robotics.

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Regional expansion and strategic acquisitions used by manufacturers:

  • In February 2019, Johnson & Johnson Services, Inc. announced that it had agreed to acquire Auris Health for $ 3.4 billion, with an additional $ 2.35 billion agreed to in the deal in the form of milestone payments in depending on certain objectives. Acquisition will help Johnson & Johnson enhance its medical device offering, which will be able to deliver safer surgical procedures and solutions to hospitals and patients
  • In November 2018, Panasonic Corporation announced that it will launch two of its assisted robots for the Indian market by early 2019. The robots include one robot that will help users carry luggage while the other is a robot from walking assistance which will initially be launched for hospitals. These robots should be supplied to hospitals before engaging in consumer sales. The company is looking to invest heavily in the region with production facilities in the region that will supply the company’s products to all of the Asia-Pacific countries.

The market is segmented on the basis of the product as instruments and accessories, surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmaceutical robots, other robots; the application is classified into laparoscopy, orthopedic surgeries, neurosurgery, pharmacy applications, others.

Key Market Developments: Global Medical Robots Market

  • On September 1, 2016, Hocoma announced a merger with DIH International that will enhance Hocoma’s reach in drug rehabilitation and management globally.
  • On May 30, 2018, Intuitive Surgical announced the expansion of its operations in India through a distributor Vattikuti Technologies Pvt. Ltd.

Competitive Analysis: Global Medical Robots Market

The global Medical Robots market is highly fragmented and major players have used various strategies such as new product launches, extensions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprint in this market. The report includes the market share of medical robot market for the world, Europe, North America, Asia-Pacific, South America, Middle East & Africa.

Key Market Competitors: Global Medical Robots Market

The main market competitors currently working in the medical robot market are Intuitive Surgical, Stryker, Hocoma, Mazor Robotics, CMR Surgical Ltd, Auris Health Inc., Accuray Incorporated, Omnicell Inc., ARxIUM, Ekso Bionics, Capsa Healthcare, TransEnterix Surgical Inc., Stereotaxis Inc., ReWalk Robotics, Titan Medical Inc., Medtech SA, Aethon, Medrobotics Corporation, InTouch Technologies Inc., McKesson Corporation, Renishaw plc., Varian Medical Systems Inc., OR Productivity PLC and Siemens Healthcare GmbH.

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Key points of the report:

  • Major market players are analyzed and their effects on the market are also observed
  • The market analysis is conducted for the forecast period of 2018 to 2025, and market segmentations are observed during this period
  • The drivers and restraints of the market have been clearly analyzed for the effect they have on the market during the forecast period 2018 to 2025

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