Albany, NY -- (ReleaseWire) -- 09/20/2012 -- Robotics is an integral part of modern medicine and it is a recent phenomenon as compared to developments that have taken place in other industries. Medical robotics is helpful in training future medical professionals and providing comfort and care to elderly patients. The other benefits of medical robotics are the high precision, reduced hospital stay and smaller incisions. Moreover, it gives a real-life experience to future doctors since this technology involves robots mimicking a patient’s feelings. Although it is gaining popularity in the medical sector, the initial set-up cost is high, and it takes considerable time to get the necessary regulatory approvals. These are the factors hampering the growth of the medical robotics market.
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Ageing population in developed countries like the U.S. is one of the important factors driving the demand for medical products. The other factors driving the growth of the medical robotics market are the improving economic environment and the increasing demand for assistive, telemedicine-based surgical robots. The global market for medical robotics was estimated to be USD 792 million in 2011 and is expected to reach USD 1.3 billion by 2016, growing at a CAGR of 10.47% from 2011 to 2016.
The U.S. is the largest market worldwide in medical robotics and the growing demand for invasive surgery is the major factor driving this market. However, Asia Pacific is expected to experience fastest growth worldwide in the future, growing at a CAGR of 12% from 2011 to 2016.
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The major geographies covered in this report are North America, Europe, Asia Pacific and ROW.
Some of the major players in the medical robotics market are Epson Robots, Mazor Surgical Robotics Ltd., Accuray, Inc., Hansen Medical, Tmsuk, Inc., Inc., Robotic Systems and Technologies, Inc., MAKO Surgical Corp., Intuitive Surgical, Inc., Health Robotics S.r.l., Robosoft, Titan Medical, Inc., among others.
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