Medical Robotic Systems Market Rising in United States | Fortune Business Insights
The increasing efficiency of robots in performing complicated tasks such as surgeries is leading to wider adoption of medical robots and thus, boosting the global medical robotic systems market, says Fortune Business Insights in their new study. The study is titled,” Medical Robotic Systems Market: Global Market Analysis, Insights, and Forecast, 2019-2026”.
According to the report, the market is presumed to witness an exponential CAGR of 21.5%. The market for medical robotics systems, which was valued at US$ 2,257.8 Mn in 2018 is anticipated to reach US$ 10,710.6 Mn by the end of 2026. It is expected to gain traction as market players are focusing constantly on introducing innovative and advanced surgical robots.
In terms of product type, the global
medical robotic systems market was dominated by the surgical robot’s segment in
2018 and the segment is likely to continue dominating the market in the coming
years. This segment accounted for 64.8% of the market in 2018. This is
attributable to the rapid advancement in surgical robots and their efficient
performance in minimally invasive surgeries.
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Introduction of Da Vinci Robots Helped
Intuitive Surgical Robots Emerge as Leading Market Player
Various companies
operating in the global medical robotic systems market are investing huge sums
in research and development for improved and upgraded features in robots. This
is done with special focus on rehabilitation robots and surgical robots as the
demand for both has increased due to their efficient performance in the past.
Other company
strategies for better revenue generation include merger and acquisitions,
product upgrades, and launch of new robots that will not only assist humans for
various medical procedures but also perform surgeries accurately. Currently,
Intuitive Surgical Company is leading the global market owing to large number
of installations of their Da Vinci Surgical robots.
Some of the companies
operating in the global medical robotic system market are Smith & Nephew,
Intuitive Surgical Inc., CYBERDYNE INC., Zimmer Biomet, Stryker, Ekso Bionics,
BIONIK, Medtronic.
Surgical Robots Segment to Lead Market with
Increasing Prevalence of Neurological Disorders
The rapid
advancement in technology and its implementation in the medical sector has
helped the surgical robots segment to emerge dominant, in terms of product. As
per Fortune Business Insights, surgical robots segment accounted for 64.8% of the
market share and is anticipated to continue its dominance in the coming years.
Additionally, the increasing number of neurological disorder cases has
propelled the demand for surgical robots, making it earn larger revenues.
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