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Healthcare robots are a blend of medicine and technology. These robots aid surgeons in performing surgeries with almost perfect precision. These are considered as an alternative method to minimal invasive surgeries. In the recent past, considerable development has been achieved in the global healthcare robots market as robotics is being increasingly adapted by the medicine industry to augment healthcare workers including therapists, though this can never be an alternate for humans, nor can they perform autonomously owing to patient safety concerns. However they help doctors to considerably leverage their analytical and decision-making skills, while extending their physical abilities.

Some of the driving forces for the global healthcare robots market are increasing automation technologies, enhancement of technological innovation, booming population growth and reduced overall mortality rates, growing disabilities in humans, acute supply shortage of medical professionals, need for improving surgical procedures, need for improving life quality for the elderly and the disabled, demographic changes, large scale global investment in the robotics market, Food and Drug Administration (FDA) approval of critical surgeries, government backing for the healthcare market, and the growing incidence of medication blunder deaths.

However, massivepurchasing and installing costs of healthcare robots can impede the growth in the global market. Medical robots are too expensive and need technical professions for performing operations. Moreover, reluctance to imbibe the technological change, and mechanical reliability issues are also restraining factors for the healthcare robots market. Despite this, healthcare robots have achieved global acceptance in a varied range of operations such as neurological surgery, interventional cardiological surgery and orthopedic surgery. This provides the much needed lucrative opportunities for the healthcare robots market moving into the future.

The global healthcare robots market may be segmented on the basis of applications, type and components. On the basis of applications, the segments are neurology applications, cardiology applications, orthopedic applications, laparoscopic applications and other applications. The categories based on type of product are surgical robots, rehabilitation robots, telemedicine robots, pharmacy and hospital automation robots, non-invasive radiosurgery robots and robotic catheters. The categories on the basis of components segmentation are safety systems, locomotion systems, user interface, software platforms, power resources and visualization systems.

Based on geography, the global healthcare robots market  can be segmented into six regions. These are North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America has been typically leading the global market for healthcare robots owing to enhanced awareness amongst the patients towards the utility of new, innovative technologies which paves the path for huge potential growth in this region. The market is projected to grow at a greater pace in the future mainly due to the high levels of initial medical investment in the U.S. North America is followed by the European region in terms of market share. Since the European government has been initiating innovative policies for improving well-being and health of the citizens, Europe is forecast to have substantial growth in the near future. The other region of robust growth in the healthcare robots market is the Asia Pacific because of fast evolving medical infrastructure. Furthermore, growing disposable income levels, technological evolution and rapidly changing lifestyle scenario are the main reasons behind the impressive growth rates in this region.

The key players in the global healthcare robots market are Hocoma, Irobot Corporation, Hansen Medical Inc, Ekso Bionics Holdings Inc, Titan Medical Inc, Accuray Inc,Intuitive Surgical Inc, MAKO Surgical Corp, ZOLL Medical Corp, Varian Medical Systems, Kirby Lester Llc, Mazor Robotics Ltd, Aurora Biomed Inc, Roche Holding AG and Biotek Instruments Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Healthcare Robots Market

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