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Global Medical Robotic Systems Market By Product (Surgical, Orthopedic, Laparoscopy, Neurological, Rehabilitation, Orthotics, Exoskeleton, Non-Invasive, I.V, Pharmacy, Emergency Response Robotic Systems) Expected To Reach USD 17.90 Billion By 2020: New Rep

Globe Newswire

San Francisco, California, Oct. 20, 2014 (GLOBE NEWSWIRE) -- Global market for medical robotic systems is expected to reachUSD 17.90 billion by 2020, growing at an estimated CAGR of 12.7%from 2014 to 2020, according to a new study by Grand View Research,Inc. Growing market penetration for healthcare IT is one of themost significant growth drivers for this market. In addition,introduction of advanced technologies such as capsule robot system,software/applications and imaging system, increasing geriatricpopulation base and increasing per capita healthcare expenditureare also expected to boost market growth during the forecastperiod. Growing geriatric population base is expected to increasethe demand for minimally invasive robotic surgeries owing to thefact that old age increases the susceptibility towards disorderssuch as orthopedics, neurological and others. Presence of untappedgrowth opportunities in emerging countries such as India, Braziland China is expected to serve this market as a future growthopportunity.

Surgical robots dominated the overall market in terms of sharesat over 65.0% in 2013 majorly owing to their high usage and marketpenetration rates and the presence of a relatively larger number ofR&D programs aimed at new product development. However, thehospital and pharmacy robots are expected to be the fastest growingmarket segment, at a CAGR of over 16.0% from 2014 to 2020 due toincreasing demand for population based therapeutic solutions andincreasing demand for telemedicine robots.

Get More Details About Medical Robotic SystemsMarket: http://www.grandviewresearch.com/industry-analysis/medical-robotic-systems-market

Further key findings from the study suggest:

  • Laparoscopy is one of the largest application segments of thismarket and accounted for a share of over 35.0% in 2013. Growingdemand for minimally invasive surgeries and the introduction ofadvanced robotic systems such as Da Vinci Robotic Surgery Systemsare some of the factors accounting for its large share.
  • Neurology is one of the fastest growing application segmentsand is estimated to grow at a CAGR over 15.0% during the forecastperiod owing to increasing prevalence of neurological disorderssuch as strokes, neurodegenerative disorders, epilepsy, chronicmigraine and others and growing physician adoption rates ofinnovative technologies.
  • North America was the largest regional market in 2013 andaccounted for over 48.0% of global demand. Presence ofsophisticated healthcare infrastructure, high patient awarenesslevels, healthcare expenditure and market penetration rates ofhealthcare IT are some of the drivers of this market.
  • Asia Pacific is expected to be the fastest regional market, atan estimated CAGR of over 15.0% from 2014 to 2020. Rise inhealthcare investment, growing patient awareness and disposableincome levels, rapid development in rural healthcare services andthe presence of high unmet medical needs are some of the factorsattributing to the rapid growth for medical robotics in theregion.
  • Key players of this market include iRobot Corporation,Medrobotics Corporation, Titan Medical Inc., Hansen Medical, Inc.,Renishaw Plc, Health Robotics S.R.L., Or Productivity Plc.,Intuitive Surgical Inc., Mazor Robotics Ltd., Accuray, Inc., MAKOSurgical Corp., Varian Medical Systems and Stereotaxis, Inc. 

For Further Inquiries / Free Sample of ThisReport: http://www.grandviewresearch.com/industry-analysis/medical-robotic-systems-market/request

For the purpose of this study, Grand View Research has segmentedthe medical robotic systems market on the basis of product,application and region:

Medical Robotic Systems Product Outlook
    • Surgical Robots
        • Orthopedic SurgicalRobots
        • Neurosurgical RoboticSystems
        • Laparoscopy RoboticSystems
        • Steerable RoboticCatheters:
    • Rehabilitation Robots
        • Assistive Robots
        • Prosthetics
        • Orthotics
        • TherapeuticRobots
        • Exoskeleton RoboticSystems
    • Noninvasive Radiosurgery Robots
        • TrueBeam STxRadiosurgery System
        • CyberKnife RoboticRadiosurgery System
        • Gamma Knife PerfexionRadiosurgery System
    • Hospital and Pharmacy Robots
        • TelemedicineRobots
        • I.V. Robots
        • Pharmacy Robots
        • Cart transportationrobots
    • Emergency Response Robots
        • LS-1 RoboticSystem
        • Auto Pulse PlusRobotic System
Medical Robotic Systems Application Outlook
    • Neurology
        • Pathfinder SurgicalSystem
        • Neuromate SurgicalSystem
        • Renaissance SurgicalSystem
    • Orthopedics
        • iBlock SurgicalSystem
        • Robodoc SurgicalSystem
        • Navio PFS SurgicalSystem
        • MAKO RIO SurgicalSystem
        • Stanmore SculptorSurgical System
    • Laparoscopy
        • FreeHand EndoscopeHolder System
        • Da Vinci RoboticSurgery System
        • Telelap ALF-X SurgicalSystem
        • Special Education
Medical Robotic Systems Regional Outlook
    • North America
    • Europe
    • Asia Pacific
    • RoW

Browse Press Release of Medical Robotic SystemsMarket: http://www.grandviewresearch.com/press-release/global-medical-robotic-systems-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research andconsulting company, registered in the State of California andheadquartered in San Francisco. The company providessyndicated research reports, customized research reports, andconsulting services. To help clients make informed businessdecisions, we offer market intelligence studies ensuring relevantand fact-based research across a range of industries, fromtechnology to chemicals, materials and healthcare. For moreinformation, visit http://www.grandviewresearch.com/

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CONTACT: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: www.grandviewresearch.com

Source:Grand View Research