Global IRobots - Robots for Remote Health Care Market

The global IRobots - Robots for Remote Health Care market is projected to reach USD X billion in 2022, up from about USD X billion in 2017, growing at a CAGR of X% during the forecast period 2017-2022. There have been increasing demands from patients for minimally invasive surgical proceduresthat shorten their hospital stay and minimize trauma. Thisrequires robotic assistance in addition to doctors. The robotic assistance thus required has been the major driving factor in this market. Further, miniature precision sensors, technological advances in computing power, and application programming are accelerating the adoption of healthcare robotics by making these healthcare robots better and cheaper. Rapid rise in the aging population and the development of Nano robots for cancer treatment is expected to present high growth opportunities for market players in the future.

MARKET DYNAMICS

MARKET DRIVERS:

--> Location is no more an issue, as a doctor can visit a patient, and communicate with hospital staff and patients with a single click on an intuitive iPad surface.

--> Offer cost-savings to health organizations by replacing humans in boring, repetitive, and hazardous tasks.

--> The rising need for advanced technology and better treatment options for critical diseasesalong with the rising incidences of such diseases.

--> Advantages offered by robot-assisted training in rehabilitation therapy.

MARKET RESTRAINTS:

--> High cost of medical robotics and the procedures carried out using them.

--> Safety concerns over robotic surgery devices.

--> An inadequate number of trained personnel to handle such advanced equipment.

--> Lack of awareness about advanced robotic solutions.

MARKET SEGMENTATION:

The globalIRobots - Robots for Remote Health Care market can be segmented on the basis of:

1. Product: On the basis of product, the global IRobots - Robots for Remote Health Care market is segmented into instruments & accessories and medical robot systems (Surgical Robots, Rehabilitation Robots, Noninvasive Radiosurgery Robots, Hospital & Pharmacy Robots, Other Medical Robotic Systems). The instruments and accessories segment is expected to account for the higher market share in 2017. Among the various sub-segments of the medical robot systems market, the surgical robots sub-segment is expected to account for the highest market share. The high precision offered by these surgeries is the major reason behind this market share.

2. Application: On the basis of application, the global IRobots - Robots for Remote Health Care market is segmented into Laparoscopy, Orthopedics, Neurology, Special Education, Other Applications. The laparoscopy segment holds the highest market share as of 2017. But, the neurology segment is expected to show the highest growth rate during the given forecast period. The rising interest in the use of robots for neurological surgeries and rehabilitation coupled with the increasing number of stroke cases are two of the reasons for the high expected growth of the neurology segment.

GEOGRAPHICAL ANALYSIS:

On the basis of geography, the global IRobots - Robots for Remote Health Care market is segmented into North America, Asia-Pacific, Europe, and Rest of the World.

--> North America:North America is expected to account for the largest share of the global Remote Health Care market. A number of reasons can be pointed out for this. Favorable reimbursement scenario in the U.S., grants from NSF for research activities in the U.S, funding by the U.S. Department of Defense, and government support in Canada are some of the reasons.

--> Asia-Pacific: The APAC region is projected to have the highest growth rate in the forecast period. Training programs in Australia, rising prevalence of cancer in China, and a rising adoption of medical robots and procedures in Asia are some of the factors taken into account for this prediction.

KEY PLAYERS:

--> Ekso Bionics Holdings, Inc. (U.S.).

--> Hocoma AG (Switzerland).

--> Intuitive Surgical, Inc. (U.S.).

--> Mazor Robotics Ltd. (Israel).

--> Hansen Medical Inc. (U.S.).