As per the report, the size of the Medical Robots Market has been estimated at USD 1.59 Billion in 2022 and is projected to reach USD 4.54 Billion by 2027, growing at a CAGR of 23.32% during the forecast period.
The primary factor driving the market for medical robots in the APAC region is technology improvements in healthcare. Also, the rising prevalence of neurological and orthopedic diseases and companies' increased research and development activities drive the market growth. In addition, an increase in financing for medical robot research, growing hospital investment in medical robots, and the benefits offered by Robot-Assisted Training in Rehabilitation Therapy contribute to the market growth.
The growing number of healthcare centers throughout the region and the resulting increase in patient flow, together with the government's expanding investments in the pharmaceutical sector to provide effective treatment techniques, are fueling the market's expansion. On the other hand, the rapid implementation of the latest technologies of the latest technological advancements in the field is all driving the medical robots' market forward.
Furthermore, rising chronic disorders, an increase in demand for minimally invasive operations, the availability of advanced healthcare infrastructure, and an aging population are likely to move the APAC medical robots market. Growing per capita healthcare expenditure in developing emerging economies such as China, India, and Japan and technological advancements in medical robots integrated with a surgeon or patient approval for laparoscopic and robotic aid are expected to expand the market growth. Also, the rise in rehabilitation centers using robot assistance and technological developments related to medical robot systems are expected to fuel the market growth.
The high expense of robotic systems combined with the unjustifiable financial benefits of robotic surgery and safety concerns about robotic surgical devices are two of the most significant constraints to the growth of the APAC medical robots market.
This research report on the APAC medical robot market has been segmented & sub-segmented into the following categories:
The APAC is one of the fastest-growing regions in the global medical robot market. The market is anticipated to account for a significant share due to the increase in healthcare centers, the medical robots' market in the Asia Pacific. In addition, increasing funds from public and private organizations and individuals directly supports the market's expansion. Japan, India, and China are the three major countries in the Asia Pacific region that have contributed to the development of medical robots. The market is primarily driven by the enormous population, followed by increasing awareness, the development of new technologies, and increased funding for medical robot research.
In the Asia Pacific, an increasing number of competent personnel in charge of monitoring the devices is also assisting in leveling the market for medical robots'. Therefore, the market for medical robots in the Asia Pacific is examined for China, Japan, India, South Korea, Australia, and the rest of the Asia Pacific.
The Chinese medical robots market accounted for the largest share of the Asia Pacific medical robots market in 2020, and the dominance is expected to be continued during the forecast period. China's supremacy in the Asia Pacific market is mainly owing to the government's ongoing investment in the healthcare infrastructure, favorable reimbursement policies, and technological advancement in the healthcare sector.
On the other hand, due to India's expanding medical tourism, the Asia Pacific medical robots' market is expected to grow at a significant CAGR during the forecast period.
KEY MARKET PLAYERS:
Some of the major companies in the APAC medical robots market covered in this report are Intuitive Surgical Inc., Hocoma AG, Hansen Medical Inc, Mazor Robotics Ltd, Accuray Incorporated, Arxium, Stryker Corporation, EKSO Bionics Holdings Inc., Omnicell Inc., and Kirby Lester LLC.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Surgical Robots
22.214.171.124 Laparoscopy Robotic Systems
126.96.36.199 Orthopaedic Robotic Systems
188.8.131.52 Neurosurgical Robotic Systems
184.108.40.206 Steerable Robotic Systems
5.1.3 Rehabilitation Robotic Systems
220.127.116.11 Therapeutic Robotic Systems
18.104.22.168 Assisstive Robotic Systems
22.214.171.124 Prosthetic Robotic Systems
126.96.36.199 Orthotic Robotic Systems
188.8.131.52 Exoskeleton Robotic Systems
5.1.4 Non-Invasive Radiosurgery Robotic Sytems
5.1.5 Hospital & Pharmacy Robotic Systems
184.108.40.206 Pharmacy Robotic Systems
220.127.116.11 IV Robotic Systems
18.104.22.168 Tekemedicine Robots
5.1.6 other Robotic Systems
5.1.7 Y-o-Y Growth Analysis, By Product
5.1.8 Market Attractiveness Analysis, By Product
5.1.9 Market Share Analysis, By Product
5.2.5 Special Education
5.2.6 Other Applications
5.2.7 Y-o-Y Growth Analysis, By Application
5.2.8 Market Attractiveness Analysis, By Application
5.2.9 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.5 South Korea
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Intuitive Surgical Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Stryker Corporation
8.3 Hocoma AG
8.4 Mazor Robotics Ltd.
8.5 Hansen Medical Inc.
8.6 Accuray Incorporated
8.7 Omnicell Inc.
8.9 EKSO Bionics Holdings Inc.
8.10 Kirby Lester LLC
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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