Pune, India -- (SBWIRE) -- 01/15/2020 -- A recent report published by Infinium Global Research on Medical Robotic Systems Market (Type - Surgical Robots, Non-Invasive Radiosurgery Robotic Systems, Prosthetics/Exoskeletons, Assistive and Rehabilitation Systems and Non-medical Robotics in Hospitals; Application - Neurology, Orthopedics Robotic Systems, Laparoscopy, and Special Education): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. According to a report the global medical robotic systems market is projected to grow at a CAGR of 20.5% over the forecast period of 2018-2024.

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The forecast Medical Robotic Systems Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Medical Robotic Systems on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channels, raw materials, and industry verticals is offered in this report.

Medical Robotic Systems Market: Market Insight

Medical Robot is a remotely operated machine that enables surgeons to perform surgeries with more precision. Medical robotics is an emerging field. There are a wide variety of medical applications had emerged such as Surgical robots, laboratory robots, telesurgery, remote surgery, and teleconsultation robots, rehabilitation robots to help the deaf and the blind.

Medical robots assist in surgeries and make possible to decrease the risk of infection. Medical robotics has provided more accuracy and perfection for the treatment and reduce the risk of patients. Different surgical procedures like cardiothoracic procedures, general surgical procedures, urological procedures and many more are conducted with the assistance of medical robots. Medical robots have advantages such as decrease post-operative pain, decrease the risk of infection, decreases blood loss and a minimum level of anesthesia.

Medical Robotic Systems Market: Drivers and Restraints

The key driving factor for the growth of this market is the increasing demand for more accurate surgeries to leave no room for human errors and ensure precision. Besides the increasing prevalence of diseases, growing hospital investments in improving technology and increasing funding for medical robotics is also contributing to the growth of the market.

Although, the high cost of installation and maintenance is a major barrier for the medical robotics market. Another factor is the device adaptation time - a surgeon needs to perform a minimum of 150 surgical procedures to completely get used to the adaption of these devices. The use of robotic systems also requires more operating time than the other alternatives available in the market. Additionally, stringent regulatory framework and safety concerns because of errors during the procedure are also restraining the growth of the medical robotic system market.

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Surgical Robot's Segment is Projected to Account for the Largest Share

The global medical robotic systems market is segmented based on its type and application. On the basis of type the global medical robotic systems market is categorized into surgical robots, non-invasive radiosurgery robotic systems, prosthetics/exoskeletons, assistive and rehabilitation systems and non-medical robotics in hospitals. On the basis of application, the global medical robotic systems market is categorized into neurology, orthopedic robotic systems, laparoscopy, and special education.

On the basis of product type, the surgical robot's segment is projected to account for the largest share of the global market. Technological advancements, new product launches, and the increase in the purchasing power of hospitals and other health care settings are anticipated to propel the surgical robot's segment. The neurosurgery application segment is expected to record the highest market share. The large market share of this segment can be attributed to the increasing precision and improved quality of medical robots which have encouraged the use of robots in neurosurgery.

North America is Expected to Account for the Largest Share

North America is expected to account for the largest share of the medical robots. The large share of this region is attributed to the increasing adoption of surgical robots by hospitals in the region, favorable funding scenarios for research on medical robots, and the availability of technologically advanced medical robots. Increase in adoption of robotic systems by hospitals, technological advancements, rise in research & development of robotic systems for new applications, and surge in demand for rapid and safe minimally invasive surgery procedures drive the medical robotic systems market in this region.

Medical Robotic Systems Market: Competitive Analysis

Some of the major players in the market are Stryker Corporation, Kirby Lester, Intuitive Surgical, Hocoma, Mazor Robotics, Accuray, Omnicell, EKSO Bionics, Arxium, and Hansen Medical among the others.

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