FREMONT, California, January 23, 2019
FREMONT, California, January 23, 2019 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Healthcare Robotics Market - Analysis and Forecast, 2018-2023", the global healthcare robotics market was valued at $5.40 billion in 2017 and is estimated to reach $11.44 billion by 2025. The global healthcare robotics market is expected to witness a growth rate of 12.64%, during the forecast period from 2018 to 2023. The growth of the market is aided by the impressive increase of healthcare budgetary allocation by government and private institutes and technological advancements in the robotics industry.
Browse 04 market Data Tables and 166 Figures spread through 203 Pages and in-depth TOC on 'Global Healthcare Robotics Market'
In 2017, the total number of cases registered due to the adverse effects of medical treatment were around 34.9 million. Diagnostic and surgical errors have witnessed higher incidence as compared to other types of malpractice. Medical errors by practitioners have been identified as the unintended act and to reduce these kinds of errors, the robotics application has been adopted. Robot-assisted surgical procedures are performed to minimize the risk of errors and to improve the precision and accuracy of the surgical procedures. Other than surgical robotics, healthcare robotics comprises rehabilitation robotics, diagnostic robotics, and radiotherapy robotics.
Rehabilitation robots are expected to witness the highest CAGR in the forecast period. The healthcare robotics market is growing exponentially due to support of the government in increasing the funding for healthcare robotic research, growing investment from hospitals in healthcare robotics, and rising technological advancements in the healthcare robotics industry. There are factors that are also hindering the growth of this market which includes, the shortage of skilled professionals and high cost associated with the robotic platform, among others.
According to Pushplata Patel, Lead Analyst at BIS Research "North America is currently the leading contributor to the global healthcare robotics market. The North America healthcare robotics market was valued at $3.51 billion in 2017. Factors, such as increasing cases of chronic diseases, aging populations, and established healthcare infrastructure are driving the growth of the healthcare robotics market in North America. However, the Europe region is expected to grow at an impressive growth rate, during the forecast period from 2018 to 2023.
Source: BIS Research Analysis
This market intelligence report provides a multidimensional view of the global healthcare robotics market in terms of market size and growth potential. This research report aims at answering various aspects of the global healthcare robotics market with the help of the key factors driving the market, threats that can possibly inhibit the overall growth of the market, and the current opportunities that are going to shape the future trajectory of the market expansion.
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Further, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the concerned readers to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, and manufacturers, trend analysis by segments, and demand analysis by regions.
This report is a meticulous compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants and vendors. The report also profiles 15 companies including several key players, such as Accuray Incorporated, Corindus Vascular Robotics, Inc., Intuitive Surgical Inc., ReWalk Robotics Ltd., Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, Zimmer Biomet, Medtronic plc, Fujifilm Holdings Corporation, Auris Health, Inc., Endomaster Pte Ld., Hocoma AG, Restorative Therapies, Think Surgical, and Tyromotion GmbH.
Key questions answered in the report:
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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