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 Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMicrosurgery 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 |
|
| Pitfalls & Challenges |
The hefty price tag of microsurgery robots is like a roadblock slowing down their journey into the wider world of healthcare. On top of that, some insurance companies aren't willing to cover surgeries performed with these advanced machines, putting another brake on their market expansion. While the growing number of people battling chronic illnesses creates a demand for microsurgery robots, their high cost might keep them out of reach for many. This is especially true in countries where people have less money to spare. Developing nations have plenty of people with chronic conditions, but the high cost of these machines could make robot-assisted surgeries a distant dream. For instance, the da Vinci surgical robot, which is used in a variety of surgeries worldwide, has a price tag of around $2 million in the United States. That's a lot of money for a single machine!
Microsurgery Robot Market Analysis
Hey, have you heard about the growing demand for these super-cool microsurgery robots in urology? They're like tiny helpers in the operating room, making a big difference in treating all sorts of kidney and bladder problems. By 2032, they're expected to bring in over $884 million just in the urology field. And why not? They're helping doctors do amazing things, like removing bladders, urinary systems, and even kidneys, with greater precision and less pain for patients. Plus, with the number of people getting urologic diseases going up around the world, these robots are going to be in high demand in the years to come. So, it's no wonder they're becoming more and more popular in hospitals.
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
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