The "Global Medical and Surgical Robotics Market Forecast 2019-2027" report has been added to ResearchAndMarkets.com's offering.
The global market of medical and surgical robotics shows the potential to grow at 17.2% of CAGR during the estimated period of 2019 to 2027.
With the technological advancement in robotics and its rising application in the healthcare sector, the demand for medical robots is rising. The growing need for minimally invasive surgeries and rising geriatric population across the globe attributes to the growth of the global medical and surgical robotics market. The use of time-saving Medical Robotics and Computer Assisted Surgery (MRCAS) is rising owing to its benefits, namely minimally invasive surgeries capability, reduced pain and blood loss and quick patient recovery, thereby boosting the market growth.
The global medical and surgical robotics market is segmented on the basis of types, applications and geography. Based on its applications, the market is classified as Cardiac, Gastrointestinal, Urology, Orthopedic, Neurosurgical, Ear-Nose-Throat (ENT), Prosthetic and others. The growth in the demand for laparoscopic and cardiac surgeries are driving the MRCAS market.
Geographically, the global medical & surgical robotics market is classified among regions, namely North America, Asia- Pacific, Europe, Latin America and Middle East & Africa. The North America region is the key leader of the market across the globe and is expected to develop due to the rising demand for surgical robots and growing healthcare industries. Also, the growing technological advancement and government support are fueling the market growth.
On the other hand, Asia-Pacific region shows vast opportunities owing to the rising end-user healthcare industries and facilities in developing countries like India, China, Japan and others. The market in Europe is escalating as a result of rising entrepreneurs and government initiatives for the promotion of professional & personal services robot.
The dominant players operating in the global market are namely, Irobot Corporation, Kirby Lester, Rewalk Robotics, Carefusion, Hocoma AG, Aesynt Inc., Agilent Technologies, Biotek Instruments, Hansen Medical Inc., Mazor Robotics, Intuitive Surgical, Aurora Biomed, Abbot Diagnostics, Accuracy Inc.
The key players use various strategies to establish a stronghold in the market. There are many entry-level barriers for new entrants such as high capital cost and government barriers for licensing.