Microsurgery Robot Market 2021 By Trends & Regional Forecast 2027

Microsurgery Robot Market 2021 By Trends & Regional Forecast 2027

Strategic initiatives for the development of innovative microsurgery robot devices is expected to impel the microsurgery robot market size. Increasing preference for minimally invasive surgeries owing to quick recovery time is anticipated to drive the demand for microsurgery robots. Improvements in healthcare infrastructure and the introduction of advanced medical systems and technologies like the miniaturization of medical robots could have a positive influence on market expansion.

Microsurgery robots are widely used in oncological, cardiovascular, and neurological surgeries. Advanced surgical robots find application in hospitals and ambulatory surgery centers, which is expected to raise the number of robotic-assisted surgical procedures. Considering rising application, microsurgery robot manufacturers are working on novel, advanced technologies and products. For example, in 2020, medical device company, Titan Medical announced the launch of a new brand identity and name for their robotic surgical system that is under development, known as the Enos robotic single access surgical system.

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Based on such developments, Global Market Insights, Inc., suggests that the microsurgery robot market may surpass USD 2.1 billion by 2026.

Chronic illnesses such as cardiovascular disease, stroke, cancer, diabetes and neurological disorders is driving the need for numerous surgical procedures. Sedentary lifestyle changes like alcohol consumption and smoking is likely to lead to high disease prevalence, furthering the need for microsurgery robot devices in clinical procedures.

Microsurgery robots are steadily gaining application in oncology surgeries. The oncology surgery segment gained about 20% market share in 2019 and is projected to grow substantially owing to rising prevalence of cancer across the world.

As per a report by the WHO, around 9.6 million deaths occurred worldwide in 2018. Robotic surgery can be used for the treatment of different types of cancer including prostrate cancer, lung cancer, colorectal cancer, and others.

Increasing number of research projects being conducted worldwide are expected to raise the demand for microsurgery robots. The research institutes segment recorded over 14.4% CAGR in the analysis timeframe. The need to enhance accuracy of surgery and decrease the cost of surgical robots is likely to increase the number of R&D activities. Support by government organizations and funding in research activities is some other segment growth drivers.

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Currently, companies such as Zimmer Biomet, Intuitive Surgical, Meerecompany, Medtronic, Stryker, Medrobotics Corporation, Auris Health (Johnson & Johnson), Smith & Nephew, Corindus Inc. (Siemens Healthineers), Titan Medical, and TransEnterix Surgical are the major contenders in the global microsurgery robot market. These firms are focusing on improving their market position through business strategies such as new product development, R&D activities, and geographical expansions.

Partial Chapter of the Table of Content

Chapter 3   Microsurgery Robot Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 - 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing demand for minimally invasive surgical procedures worldwide

3.3.1.2    Technological advancements in developed economies

3.3.1.3    Rising incidences of chronic conditions in Asia Pacific

3.3.1.4    Increasing funding for development of microsurgery robots in developed countries

3.3.2    Industry pitfalls and challenges

3.3.2.1    High cost associated with robotic systems globally

3.3.2.2    Stringent regulatory scenario in developed countries

3.3.2.3    Dearth of skilled healthcare professionals in developing economies

3.4    Growth potential analysis

3.4.1    By application

3.4.2    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.7    Technology landscape

3.7.1    Robotic-assisted Laparo-endoscopic

3.7.2    Computer-integrated surgery (CIS)

3.7.2.1    Surgical CAD/CAM systems

3.7.2.2    Surgical assistants

3.7.3    Novel surgical robotic system

3.8    Porter’s analysis

3.9    Competitive landscape, 2019

3.10    PESTEL analysis

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