From Driverless cars being rolled out recently to robots performing surgeries, technology has surely made a stellar progress. One such example is medical robots. Medical robots are set to revolutionize the healthcare sector, especially surgeries, since they are becoming more and more acceptable, globally. They not only help in reducing the time of surgery but also ensure the accuracy of the whole process coupled with better quality of patient care, thereby increasing the demand for surgical robots across the globe.

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The growth of the Medical Robots Market can be attributed to the issuance of IPOs by medical robot companies, advantages offered by robot-assisted training in rehabilitation therapy, growing hospital investments in medical robots, increasing funding for medical robot research, and technological advancements in the field of medical robots.

In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to the growth in the number of approvals of robots for medical use in Japan, rising prevalence of cancers in China, growing robotic procedures backed by rising number of hospital beds in India, rising adoption of medical robots in Asia, funding collaborations across the Asian region, and training programs in Australia.

Based on Product Medical Robots is segmented into Surgical Robots, Rehabilitation Robots, Non-invasive Radiosurgery Robots, Hospital and Pharmacy Robots and Other Robotic Systems

Surgical Robots is classified into Laparoscopy Surgical Robotic Systems, Orthopedic Surgical Robotic Systems, Neurosurgical Robotic Systems, Steerable Robotic Catheters.

Rehabilitation Robots is classified into Therapeutic Robots, Assistive Robots, Prosthetics, Orthotics, Exoskeletons.

Hospital and Pharmacy Robots is classified into Pharmacy Robots, IV Robots, Telemedicine Robots.

In 2016, North America is expected to account for the largest share of the global medical robots market. North America’s leadership in the market can be attributed to can be attributed to favorable reimbursement scenario in the U.S., funding by the U.S. Department of Defense, grants from NSF for research activities in the U.S, rising venture capital investments in the U.S., government support in Canada, and increasing medical robot purchases backed by rising preference for minimally invasive surgeries.

Key players:
Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Mazor Robotics Ltd. (Israel), Hocoma AG (Switzerland), Hansen Medical Inc. (U.S.), Accuray Incorporated (U.S.), Omnicell, Inc. (U.S.), Ekso Bionics Holdings, Inc. (U.S.), ARxIUM (U.S.), and Kirby Lester LLC (U.S.).