San Francisco, California (PRWEB) August 26, 2014
The global market for medical robotic systems is expected to reach USD 17,901.5 million 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 of healthcare IT is one of the most significant growth drivers for this market. In addition, introduction of advanced technologies such as capsule robot system, software/applications and imaging system, increasing geriatric population base and increasing per capita healthcare expenditure are also expected to boost market growth during the forecast period. Growing geriatric population base is expected to increase the demand for minimally invasive robotic surgeries owing to the fact that old age increases the susceptibility towards disorders such as orthopedics, neurological and others. Presence of untapped growth opportunities in emerging countries such as India, Brazil and China is expected to serve this market as a future growth opportunity.
Surgical robots dominated the overall market in terms of shares at over 65.0% in 2013 majorly owing to their high usage and market penetration rates and the presence of a relatively larger number of R&D programs aimed at new product development. However, the hospital and pharmacy robots are expected to be the fastest growing market segment, at a CAGR of over 16.0% from 2014 to 2020 due to increasing demand for population based therapeutic solutions and increasing demand for telemedicine robots.
The report “Medical Robotic Systems Market Analysis By Product (Surgical, Orthopedic, Laparoscopy, Neurological, Rehabilitation, Assistive, Prosthetics, Orthotics, Steerable, Therapeutic, Exoskeleton, Non-Invasive, Hospital/Pharmacy, Telemedicine, I.V, Pharmacy, Emergency Response Robotic Systems) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/medical-robotic-systems-market
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the medical robotic systems market on the basis of product, application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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