Global Robotics Market Segmentation and Forecast 2014-2020

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Advances in healthcare technology over the years have showed tremendous growth. From surgical devices to radio imaging and treatment methods, all aspects of medicines have taken technological leaps in the recent decades, making healthcare technology one of the most lucrative markets. The demand for robotics in healthcare, especially surgical procedures is increasing. Robotic procedures are deemed safer in situations where humans might make errors, as robotic procedures have far greater precision and leave minimum margin for error, and therefore having robotic systems in a hospital would be able to generate more revenue. Robots can also create better clinical outcomes and curtail labour costs, leading to an exponential growth in demand.

However, surgery is not the only field with robotic advancements. Robotic panels are found in all segments of healthcare, such as sanitation and for disinfecting purposes, sterilization of instruments, processing laboratory supplies and other fields where technology aids and can replace human effort. Robotics in medicine is viewed as an all-round technological advancement, which is not limited to only one section. This is potentially the biggest leap in technology for the healthcare industry since the introduction of IT and has the scope of commercially being a vibrant industry with extensive chains of supply, production and R&D development. This technology, however, is limited to economies that are invested in medical care to a great extent. For instance, the possibility of investment into robotic arms to enhance surgical procedure in public hospitals in a developing country such as Ghana is unlikely but the developed economies of North America and Europe are the most lucrative markets for medical robotics as they have significantly invested in healthcare. However; Asian countries such as India and China are the markets of the future as the governments of these countries are putting in efforts to improve healthcare and the economies will show a significant growth.