 "Global medical robots market to reach $ 12.80 billion by 2021")
The global medical robots market is expected to reach $ 12.80 billion by 2021 from $ 4.90 billion in 2016, growing at a CAGR of 21.1 percent, according to MarketsandMarkets report.
On the basis of product, the medical robots market is categorised into instruments & accessories and medical robot systems. In 2016, the instruments and accessories segment is expected to command the largest share is likely to grow at the higher CAGR during the period of 2016-2021.
The medical robot systems segment is further divided into surgical robot systems, rehabilitation robots, noninvasive radiosurgery, hospital & pharmacy robots, and other medical robotic systems. The surgical robot systems segment is estimated to command the largest share of the medical robot systems market in 2016. This large share can be attributed to rising preference for minimally invasive surgeries, growing number of robotic laparoscopy procedures, and increasing neurological conditions requiring robotic procedures.
However, the rehabilitation robot systems segment is expected to grow at the highest CAGR during 2016-2021. Factors attributing the high growth of this segment include increasing adoption of exoskeletons for rehabilitation therapy, rising prevalence of stroke, increasing use of assistive robots by geriatric population, and growing use of therapeutic robots for autism.
On the basis of application, the medical robots market is segmented into laparoscopy, orthopaedics, neurology, special education, and other applications (gynaecology, urology, cardiology, and nanomedicine).
In 2016, the laparoscopy segment is expected to command the largest share of the market. Rising number of robotic laparoscopy procedures, regular congresses and meetings, and increasing number of FDA approvals for laparoscopy procedures are the key factors contributing to the largest share of medical robots for laparoscopy. However, the neurology segment is likely to grow at the highest CAGR during the forecast period. Factors attributing to the highest growth of this segment include rising prevalence of neurological disorders, coupled with the increasing interest in the use of robots in neurological surgeries and rehabilitation.
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