The general healthcare industry has grown more
positively in the recent trend with the significant usage of medical robots as
these robots can be deliberated as the application of robotics technology to
healthcare to treat diseases and diagnose, or to correct, modify or restore a
human body function or any part of the body. Moreover, medical robots also
considers products useful for the patients with the disabilities. Such products
are frequently mechanical/electronic equipment used by doctors and patients.
Furthermore, the definition of market for these robots would be the one which
take into contemplation products for supporting medical practitioners during
the surgery, for monitoring the status of the diseased patients, and for rising
the precision. Furthermore, many of the key players are dominating the huge
market share by working according to the guidelines of the government and by
analyzing the market strategies of the strong competitors which proved be
benefitted for leading the fastest growth in the near future.
According to the report analysis, ‘North
America Medical Robot Market (2018-2023)’ states that there are several
key players which are recently functioning in this market more actively for
attaining the huge market share by accomplishing the rising need of medical
robots includes Omnicell, Intuitive
Surgical, Ossur, Mazor Robotics, Ekso Bionics, Accuray, Rewalk Robotics, Varian
and several others. Additionally, the medical robot market can be categorized
into three principal divisions based on product (surgical robot, rehabilitation
robot, non-invasive radiosurgery robot and others), application (neurology,
orthopedic, cardiology, laparoscopy and others) and geography (North America,
Europe, Asia-Pacific, Latin America and the Middle East and Africa).
Furthermore, by 2023 the value of the global medical robot market is expected
to reach a value of USD 11.36 Billion, increasing at a compound annual growth
rate (CAGR) of 12.6% in the period of 2018-2023.
America comprises of over 40% of the market
due to increasing demand for the robot-assisted surgeries, industrialized
healthcare infrastructure and high healthcare disbursement. Accumulative need
of automation and unconventional devices have also contributed in the market
growth. Furthermore, the foremost disadvantage in this region is the great
competitiveness amongst the rivals and tough competition from new entrants.
Since the competition is great, companies have to invest more in research and
development (R&D). In addition to that the purchasers have a lot to choose
from. As a result, charges of produces have to be competitive. Hence, profit
will be low. All these factors diminish the attractiveness of the market in
North America.
The legal authorities have also taken numerous
footsteps towards construction the reimbursement process hassle-free. Moreover,
the normal age of this region is substantially higher than other parts of the
world. This will underwrite to the growth due to the elder population
necessitates more medical attention and thus, their utilization of medical
equipment is much developed. Not only has this, the rate of modernization and
development of products in North America is very astonishing which will help in
the growth of the market. Therefore, in the near future, it is anticipated that
the market of the medical robot in North America will increase more positively
over the recent few years.
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