Pune, India -- (SBWIRE) -- 02/13/2020 -- The Global Medical Robots Market is set to witness a very successful period with technological advancements occurring frequently, market will rise 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% in the forecast period of 2019-2026.

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Global Medical Robots Market, By Product (Instruments and Accessories, Surgical Robots, Rehabilitation Robots, Noninvasive Radiosurgery Robots, Hospital and Pharmacy Robots, Others), Application (Laparoscopy, Orthopedic, Neurosurgeries, Pharmacy, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends & Forecast to 2026

Major market competitors currently working in the Medical Robots 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.

Market Definition: Global Medical Robots Market

Medical Robots are mechanical robots that are used in medical services. They aid in surgeries, rehabilitation or even in dispensing of medical pharmaceutics. Medical robots are used in a variety of surgical practices. These robots act as a tele manipulator acting on behalf of the surgeon to perform hazardous tasks or even the most precise procedures.

North America had the highest market share in 2017 and the same will be the case by the end of the forecast period. Asia-Pacific region will witness the highest growth rate from all the regions.

Market Drivers:

Medical robots offer up a variety of rehabilitation techniques and are greatly effective in comparison to conventional rehabilitation techniques, this factor will act as a major market growth
Technological advancements have enhanced the medical robots market due to the close working relationship of doctors and the medical robots industry, which have improved the market growth potential for medical robots

Market Restraints:

Lack of knowledge about the operations of these robots and the appropriate information required from the surgeons regarding these robots act as a major market restraint
High cost are restraining the industry to properly breakthrough the market share

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Segmentation: Global Medical Robots Market

By Product
Instruments and Accessories
Surgical Robots
Laparoscopy Robots
Orthopedic Robots
Neurosurgical Robots
Rehabilitation Robots
Therapeutic Robots
Assistive Robots
Exoskeleton Robots
Other Robots
Noninvasive Radiosurgery Robots
Hospital and Pharmacy Robots
Pharmacy Robots
IV Robots
Other Robots
Gynecology
Urology
Cardiology
Nanomedicine
By Application
Laparoscopy
Orthopedic Surgeries
Neurosurgeries
Pharmacy Applications
Other Applications
By Geography
North America
US
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia Pacific
Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa

Key Developments in the Market: Global Medical Robots Market

On September 1, 2016 Hocoma, announced a merger with DIH International that will enhance Hocoma's reach into rehabilitation and medication 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 the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Medical Robots market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Insights in the report:

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

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