Medical Robots Market Share

APAC Market Statistics

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. Asia Pacific industry is predicted to hold largest revenue share by 2036, due to gradually developing healthcare infrastructure. Increasing demand from countries such as China, Japan, and India, on account of the rising cases of acute and chronic diseases, is one of the key factors contributing to the growth of the market in the region. According to the World Health Organization (WHO), chronic diseases such as cardiovascular diseases, respiratory diseases, diabetes, and cancer are the leading cause of death in Asian countries.

North America Market Analysis

Presently, North America captures the higher share of the robotics-assisted medical care market on account of the region’s rapidly developing healthcare infrastructure and growing healthcare expenditure. According to the World Bank Data, the healthcare expenditure in the United States accounted for nearly 17% of the country’s total GDP. The growing healthcare expenditure in the country is expected to introduce new innovations over the forecast period.

Frequently Asked Questions (FAQ)

The rapidly growing demand for minimally invasive surgeries and growing advancement in healthcare infrastructure are some of the key factors driving the market growth.

The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.

High cost associated with the maintenance of medical robots is one of the key factors hampering the market growth.

The market in Asia-Pacific region will provide ample growth opportunities owing to the rising demand for minimally invasive surgeries in countries such as China, Japan, India, and South Korea.

The major players dominating the robotics assisted medical care market are Stryker, Medtronic, BIONIK, Smith & Nephew, Zimmer Biomet, and CYBERDYNE, INC. among others.

Medical Robots Market Share