Report Ocean published a recovery-based report for Asia-Pacific Medical Robot Market that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2032) and develops reliable and approximative timeline estimations up to 2032.
The Asia-Pacific medical robot market is expected to grow to a value of USD 3.47 Billion by 2023 at a CAGR of 18.74%.
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The value of the global medical robot market is expected to reach a value of USD 11.36 Billion by 2023, expanding at a compound annual growth rate (CAGR) of 12.58% during 2018-2023.
Robots that are used for medical purposes are broadly known as medical robots. Medical robotics can be considered as the application of robotics technology to healthcare to diagnose and treat diseases, or to correct, restore or modify a body function or a body part. The market definition for the medical robot market would be the one which take into consideration products for assisting medical practitioners during surgery, for monitoring status of patients, and for increasing accuracy and precision. It also considers products useful for patients with disabilities The products from this market are used extensively across all age groups. These products are generally mechanical/electronic equipment used by doctors and patients.
The medical robot market can be classified into three primary segments
- 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, surgical robots consist of neurological surgery robotic systems, cardiology surgery robotic systems, laparoscopic surgical robotic systems, orthopedic surgical robotic systems and steerable robotics. Rehabilitation robots comprise therapeutic robots, prosthetic robots, assistive robots and exoskeleton robots. Hospital and pharmacy automation robots includes pharmacy automation robots, IV robots.
Key growth factors
The major factor influencing the growth of the market in the region is the population. This is because the healthcare technological development in the region is quite low compared to other parts of the world. In addition to that, the development of new technology and awareness about its benefits and usage is not distributed uniformly, i.e., it is mostly present in the urban areas. This categorizes the market in the region to an untapped potential type, which holds many opportunities for the investors. The governments are trying to make inroads in this aspect by introducing various plans and schemes.
Threats and key players
The introduction of goods and services tax (GST) in India has put the healthcare industry in a tough situation as costs of basic healthcare facilities, like hospital room rent, have increased. Also, the price of various treatment types has increased significantly. This will discourage people from engaging in robotic surgeries, which are generally costlier than conventional surgeries. The sparse distribution of healthcare facilities in small pockets is also a threat to the market because the lack of transportation and logistics facilities will significantly increase costs of treatment in weakly connected areas.
The key competitors in the Asia-Pacific medical robot market are Omnicell, Intuitive Surgical, Ossur, Accuray, Mazor Robotics, Rewalk Robotics, Ekso Bionics, Elekta, Varian, Cyberdyne, etc.
What is covered in the report?
1. Overview of the Asia-Pacific medical robot learning market.
2. Market drivers and challenges of the Asia-Pacific medical robot market.
3. Market trends in the Asia-Pacific medical robot market.
4. Historical, current and forecasted market size data for the segment based on vehicles.
5. Historical, current and forecasted market size data for the segment based on sensors.
6. Historical, current and forecasted market size data for the segment based on components.
7. Historical, current and forecasted market size data for country-wise segments.
8. Analysis of company profiles of major competitors operating in the market.
Why buy?
o Understand the demand for medical robot to determine the viability of the market.
o Identify the challenge areas and address them.
o Develop strategies based on the drivers, trends and highlights.
o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
o Recognize the key competitors of this market and respond accordingly.
o Knowledge of the initiatives and growth strategies taken by the major companies and decide the direction of further growth.
o Define the competitive positioning by comparing the products and services compared with the key players in the market.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
List of Factors Covered in the Report are:
Major Strategic Developments: The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.
Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most recent developments, combined with the pertinent market segments and sub-segments.
List of Highlights & Approach
The report is made using a variety of efficient analytical methodologies that offers readers an in-depth research and evaluation on the leading market players and comprehensive insight on what place they are holding within the industry. Analytical techniques, such as Porter’s five forces analysis, feasibility studies, SWOT analyses, and ROI analyses, are put to use to examine the development of the major market players.
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