In the year 2018, Medical Robots Market was valued at USD 7.19 Billion. By the year 2023, it is predicted to reach USD 18.73 Billion with pace of 21.1% CAGR. In medical health care Robots are being used widely. These robots are called as medical robots. Medical Robots are employed to handle activities related to surgeries with more accuracy than human surgeons. These Medical Robots are also can be operated remotely to perform surgeries incase surgeons are not available at the time.
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Technological Advancements, increased demand and funding in the field of medical sciences
Factors affecting market growth:
• Increased inflow of funding for the purpose of research. (+)
• Growing investments on medical robots by hospitals. (+)
• Major technological advancements in the field of Medical Robots. (+)
• Accuracy in Robot involved surgeries than traditional surgery. (+)
• Safety concerns over robotic surgery devices. (-)
• High costs of Robotic systems and expensive manufacturing costs. (-)
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Market Segmentation
The Medical Robots Market is geographically segmented into
• North America.
• Europe.
• Asia Pacific.
• Latin America.
• Middle East and Africa.
North America stands in top position among all regions in terms of market share due to increasing demand for robotic health care equipment and technological advancements in the field. Europe region is trailing right behind North America in the list. Asia Pacific region is estimated to witness a faster growth over the next decade or so. In addition, Global Medical Robots market is expected to grow at astonishing pace of 21.1% CAGR value, thus giving promising chance for new companies to enter into the market.
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Key players:
Key players in the Global Medical Robots Market include Kirby Lester LLC, EKSO Bionics Holdings Inc., Arxium, Omnicell Inc., Accuray Incorporated, Hansen Medical Inc, Mazor Robotics Ltd, Hocoma AG, Stryker Corporation, and Intuitive Surgical Inc.

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