Microsurgery Robot Market Size, By Application (Ophthalmology Surgery, Cardiovascular Surgery, Neurovascular Surgery, Gastrointestinal Surgery, Obstetrics and Gynecology Surgery, Urology Surgery, Oncology Surgery, ENT Surgery), By End-use & Forecast, 2032
Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare
Publisher : MIR | Format : PDF&Excel
Microsurgery Robot Market Size, By Application (Ophthalmology Surgery, Cardiovascular Surgery, Neurovascular Surgery, Gastrointestinal Surgery, Obstetrics and Gynecology Surgery, Urology Surgery, Oncology Surgery, ENT Surgery), By End-use & Forecast, 2032
Microsurgery Robot Market Size
Microsurgery Robot Market size was valued at more than USD 1.1 billion in 2022 and is projected to record over 13.5% CAGR from 2023 to 2032. Growing awareness about treatment options for chronic diseases are expected to promote global industry growth.
Mounting cases of chronic diseases including cancer, cardiovascular disease, and gastrointestinal illnesses should drive the deployment of microsurgery robots across healthcare settings. These robots can assist in delivering optimal outcomes and improved patient compliance while treating chronic diseases. Quick healing, decreased surgical complications, improved post-surgical pain management, and shorter hospital stays are some of the factors that have driven the demand for minimally invasive procedures.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Microsurgery Robot Market Size in 2022 | USD 1.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 13.5% |
| 2032 Value Projection | USD 4.1 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 225 |
| Tables, Charts & Figures | 207 |
| Segments covered | Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
The high cost of the microsurgery robot would be a key factor hampering microsurgery robots market expansion. Non-reimbursement of some robot-assisted surgical operations is another aspect that could restrict market development. Microsurgery robots are in demand due to the rising number of patients with chronic conditions, but their high price may prevent its widespread use, particularly in low- and middle-income nations. Many people suffering from chronic illnesses are present in developing nations, which makes them reluctant to choose expensive robot-assisted procedures. For instance, the cost of the da Vinci surgical robot, which is utilized in a variety of surgical operations worldwide, is about USD 2 million in the United States.
Microsurgery Robot Market Analysis
Microsurgery robot market share from the urology surgery application is predicted to reach more than USD 884 million by 2032. The increasing demand for and knowledge of the wide-ranging benefits of microsurgery robots in urological surgery is influencing product uptake. The use of robotic surgery is proving to be beneficial in the treatment of a variety of kidney and bladder disorders, including kidney cancer, kidney stones, chronic kidney diseases, traumatic kidney damage, etc. As per studies, the most common robotic urology treatments include partial or complete removal of the bladder, urinary system, and kidney. Furthermore, it is anticipated high prevalence of urologic illnesses globally will advocate the deployment of these robots in the coming years.
Microsurgery robot market share from the hospital & clinics segment is projected to cross USD 2.1 billion by 2032. The adoption of cutting-edge healthcare equipment like microsurgery robots and the need for better clinical outcomes have urged patients to choose hospitals for disease treatments. Rising disease screening initiatives, an upsurge in admissions for chronic illness treatment, including heart and eye conditions, and growing admissions for heart and eye problems are some other factors that will influence product use across hospitals & clinics.
North America microsurgery robot market is anticipated to record a 13.3% CAGR from 2023 to 2032. The region holds the presence of some of the leading market players including Medtronic, Stryker, and Smith & Nephew among others. Upgradation of healthcare infrastructure has supported the deployment of advanced surgical technologies like microsurgery robots in different clinical applications, including the treatment of chronic ailments like cardiovascular diseases.
According to CDC statistics, about 805,000 Americans get a heart attack each year. Similarly, rising adult diabetes rates are expected to trigger the prevalence of eye illnesses in the region. Data from the American Diabetes Association states that the number of Americans with diabetes was anticipated to be around 37.3 million or 11.3% of the country's total population.
Microsurgery Robot Market Share
- Intuitive Surgical
- Siemens Healthineers
- Medtronic
- Stryker Corporation
- Smith & Nephew plc
are the key companies operating in the global market. Some of these companies are working on new product developments to gain a competitive edge over related firms. For instance, in September 2022, Intuitive announced the approval of the da Vinci SP surgical system from Japan's Ministry of Health, Labour and Welfare (MHLW) for use in general surgery, thoracic surgery, urologic surgery, gynecological surgery, and trans-oral head and neck surgery.
Impact of the COVID-19 pandemic
Microsurgery robot industry was adversely impacted by the COVID-19 pandemic in 2020. The outbreak led to postponing of all elective surgical procedures in both outpatient and inpatient settings in the United States and other nations worldwide. However, advancements in telemedicine and technical breakthroughs in medical electronics have improved target illness detection and treatment compliance and encouraged the use of microsurgery robots. Furthermore, increasing investments in healthcare infrastructure and a rise in medical spending are factors that will support the market progress.
Microsurgery robot market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD Million from 2018 to 2032, for the following segments
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By Application
- Ophthalmology Surgery
- Cardiovascular Surgery
- Neurovascular Surgery
- Gastrointestinal Surgery
- Obstetrics and Gynecology Surgery
- Urology Surgery
- Oncology Surgery
- ENT Surgery
- Reconstructive Surgery
- Micro Anastomosis
- Ureterorenoscopy
- Others
By End-use
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Research Institutes
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Sweden
- The Netherlands
- Asia Pacific
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- MEA
- Saudi Arabia
- South Africa
- UAE
- Egypt
- Nigeria
- Israel