MEDICAL ROBOTS MARKET ANALYSIS

Medical Robots MarketSize and Trends

Continuous advancement in medical robots is expected to fuel growth of the medical robots market over the forecast period:

Increasing R&D activities is expected to boost growth of the medical robots market over the forecast period. For instance, in May 2017, Intuitive Surgical Inc. announced the approval of its new da Vinci X robot. The advanced da Vinci robot is equipped with four mechanical arms for better movement, reach, and dexterity. It also helps to perform surgical procedure more precisely than before. Each of the arms can be controlled independently and can be assigned to do different tasks.

Medical Robots Market – Regional Analysis

As the medical robots are associated with high cost, their adoption rate is high and mainly restricted to North America, followed by Europe. As per ECRI Institute, out of all da Vinci installation around the globe, 67% installation are in the U.S. and out of all da Vinci surgical procedures, 79% are performed only in the U.S. Owing to their high costs, these robots are gaining slow adoption in cost sensitive economies of Asia Pacific. However, the scenario is expected to improve in the near future, buoyed by rampant economic growth in emerging economies of India and China and increasing investment in healthcare infrastructure development in these countries.

The growth of medical robots market is supported by factors such as increasing awareness about their various 0beneficial properties and increase in the number of surgical procedures as a result of increasing incidence of chronic diseases such as cancer and lifestyle diseases such as diabetes and obesity. Furthermore, increase in insurance coverage is expected to fuel the usage of medical robots. Middle Eastern countries such as Turkey are characterized by an acute dearth of healthcare professionals. As per Organization for Economic Co-operation and Development (OECD), Turkey had 1.7 doctors per 1,000 population in 2012. This makes the region a highly lucrative prospect for future penetration of the market.