Product ID: SQMIG35G2273
Global Microsurgery Robot Market Size, Share, Growth Analysis, By Type(General Surgery, Oncology), By Application(Hospitals, Ambulatory Surgery Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35G2273 |
Region:
Global |
Published Date: April, 2024
Pages:
217
|
Tables:
69 |
Figures:
72
Global Microsurgery Robot Market Insights
Global Microsurgery Robot Market size was valued at USD 1.1 billion in 2022 and is poised to grow from USD 1.25 Billion in 2023 to USD 3.44 Billion by 2031, growing at a CAGR of 13.5% in the forecast period (2024-2031).
The global microsurgery robot market share from urology and surgical applications is predicted to reach more than $884 million by 2032. The use of robotic surgery proves useful in treating kidney and bladder disorders, including kidney cancer, kidney stones, chronic, kidney diseases, traumatic kidney injury, etc. According to the study, common robotic urology treatments include partial or complete removal of the bladder, kidneys, and kidneys. Moreover, the high prevalence of arthritis worldwide is expected to favor the use of these robots in the coming years.
The advantages of microsurgery over conventional surgery, the increasing incidence of chronic diseases, lifestyle problems and cancer, and the increasing number of surgical procedures in the elderly population are plastic surgery and surgery increasingly popular restorations are some of the products that expand the market. Demand for cosmetic minor surgery treatment is primarily driven by increasing cosmetic skills and increased disposable income. A dramatic increase in the number of reconstructive minor cosmetic surgeries, and miniaturized instrumentation playing an increasing role in plastic reconstruction processes are the innovations expected to drive the market growth in the coming years.
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Global Microsurgery Robot Market Segmental Analysis
Based on Type the market is segmented as General Surgery, Oncology, Orthopedic Surgery, Gynecological Surgery, Neurosurgery, Ophthalmology, Plastic Surgery, Oral and Maxillofacial Surgery, Podiatric Surgery. Based on Application the market is segmented into Hospitals, Ambulatory Surgery Centers, Academic & Research Centers. Based on Region the market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Rest of Middle East and Africa.
Analysis by Application
Hospitals are expected to dominate the market during the forecast period. The market is growing due to the availability of innovative products and intensive care for many chronic diseases. In addition, government hospitals and clinics are offering improved surgical reimbursement schemes, further driving the market growth. Furthermore, the availability of qualified healthcare professionals in hospitals speeds up the growth of the profession. Which will also increase market demand by accurately performing surgeries and putting more emphasis on providing greater comfort to doctors.
The academic & research centers segment plays an important role in the development and growth of the global microsurgery robot market. Academic research laboratories are at the forefront of innovation in microsurgical robotics. These organizations conduct groundbreaking research to enhance the capabilities of microsurgical robots, such as advanced precision, miniaturization and integration of imaging technologies and contributions to technological advances.
Analysis by Type
Orthopedic surgery is the dominant segment in the market which treats musculoskeletal conditions, including joint replacement, spine surgery and trauma surgery. Robots that perform microsurgery provide unparalleled accuracy and precision, making them ideally suited for delicate orthopedic procedures such as spinal fusion, joint reconstruction, complex surgeries a performed-on injuries, etc. The ability of these robots to move through complex body structures with limited penetration Surgical results, increasing patient recovery rates.
Gynecological surgery segment is the fastest growing in the market which includes several procedures involving the female reproductive system, including hysterectomy, ovarian vesiclectomy, and myomectomy The role of microsurgical robots in gynecological surgery is important for the following reasons. Gynecological surgery often involves complex procedures in confined spaces, requiring greater precision. Microsurgery Robots enable physicians to perform complex, precision surgeries and extensive surveillance, especially in cases involving soft tissues or structures, such as the uterus and vagina. With robotic microsurgery, gynecologists can provide patients with less invasive procedures with reduced postoperative pain, shorter recovery time and there will be fewer bruises.
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Global Microsurgery Robot Market Regional Insights
North America holds a dominant position in the global microsurgery robot market, driven primarily by the presence of key market players, strong healthcare infrastructure, widespread adoption of advanced medical technologies affecting strategic planning coverage and increased investment in healthcare R&D. The North America microsurgery robot market is expected to register 13.3% CAGR from 2023 to 2032. The segment has presence of some major market players such as Medtronic, Stryker, Smith & Nefev and others Supporting the technology implementation. About 805,000 Americans suffer a heart attack each year, according to CDC estimates. Similarly, the increasing prevalence of adult diabetes is expected to increase eye diseases in the region. According to the American Diabetes Association, the number of Americans with diabetes was expected to be 37.3 million or 11.3% of the nation’s total population.
The global microsurgery robot market is anticipated to grow significantly in Asia-Pacific due to rising healthcare costs, improving healthcare infrastructure and increasing awareness of advanced surgical techniques. Asia-Pacific sees a rapidly growing healthcare sector with hospitals and surgical centers equipped with advanced medical technologies. This growth provides opportunities for the adoption of robotics for microsurgery, while healthcare facilities seek to increase surgical accuracy and patient outcomes.
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Global Microsurgery Robot Market Dynamics
Drivers
Advances in Surgical Technology
- Continuous advances in surgical technology, especially in robotics and AI, are driving the development and adoption of mini-surgical robots These technologies enable precision surgical planning with ease more, reduces patient recovery time and improves surgical outcomes.
Increasing Demand for Less Invasive Surgeries
- Minimally invasive surgeries are increasingly in demand due to advantages such as reduced postoperative pain, shorter hospital stays, faster recovery times and microsurgery robotics simplify such operations to provide surgeons with increased skill and accuracy, therefore promoting market growth.
Increased Incidence of Cancer
- The high prevalence of cancer is predicted to increase the use of microsurgical robots in cancer treatment. Robotic surgery is used to treat brain, colorectal and prostate cancers. Low postoperative complications and short recovery time are some of the advantages of robotic surgery in cancer treatment. Apart from hospitals and clinics, ambulatory surgery centers are predicted to fuel the demand in the global microsurgical robot market. The increasing adoption of surgical robotics could be a key factor in increasing the demand for microsurgical robots in ambulatory surgical settings.
Restraints
High Cost of Adoption
- The high initial investment required to purchase and deploy microsurgical robots is a major barrier to market growth Furthermore, cost an ongoing maintenance costs and specialized training requirements further contribute to the financial burden on health care organizations, limiting their widespread adoption.
Regulatory Challenges and Safety Concerns
- Regulatory approvals for medical devices, including microsurgical robots, can be long and rigid, delaying market entry and increasing development costs. High cost of microsurgery robots will be a key factor for the expansion of the microsurgery robots' market. Non-coverage of certain robot-assisted surgeries is another factor that could restrain market growth. Miniature surgical robots are in demand due to the increasing number of patients with chronic conditions, but their high cost may be limiting their widespread use, especially in low- and middle-income countries Many people with chronic illnesses in developing countries, were reluctant to opt for expensive robotic -assisted techniques. For example, a da Vinci surgical robot used in surgeries worldwide costs about $2 million in the US.
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Global Microsurgery Robot Market Competitive Landscape
The competitive scenario in the global microsurgical robot market includes key players such as Intuitive Surgical, Medtronic plc, Stryker Corporation etc. These companies focus on product innovation, strategic development and geographical expansion to force strengthening their market presence. In addition, collaborations with healthcare institutions and research organizations are common strategies for product development and market entry.
Top Player’s Company Profiles
- Carl Zeiss Meditec
- Leica Microsystems (Danaher)
- B. Braun
- Olympus
- Microsurgery Instruments
- MicroSurgical Technology
- S&T Microsurgical Instruments
- Rumex International
- Tisurg Medical Instruments
- Peter Lazic
- EMI Factory
- Intuitive Surgical, Inc.
- Medtronic plc
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Auris Health, Inc.
- Titan Medical Inc.
Recent Developments
- In September 2022, Intuitive announced the approval of the da Vinci SP surgical system from Japan's Ministry of Health, Labor and Welfare (MHLW) for use in general surgery, thoracic surgery, neurosurgery, gynecological surgery, and laparoscopic head and neck surgery.
- In April 2022, SS Innovations launched the SSI multi-arm revolutionary telerobotic assisted surgery system in India for US$0.54 to US$0.68 million (Rs 40-50 million).
- In July 2020, Smith & Nephew announced the introduction of an arm robotic platform for knee replacement surgery. This initiative will help the company to develop its products in a global industry.
Global Microsurgery Robot Key Market Trends
- Technological Advancements: Robotic-assisted microsurgery can be used for internal or external surgical procedures. Three-dimensional high-definition size, stable ergonomic platform, eliminating body vibrations, and motion measurement make the robotic platform attractive to microsurgeons for complex techniques in addition robotic assisted microsurgeons minimally invasive microsurgery in challenging intrabody spaces Enables branch. Recent development-assisted technologies provide improved optical improvements in robotic platforms, improved intraoperative imaging, and precise dissection techniques for microsurgery Emergence of surgical microscopes enabled surgeons to perform hyperfine surgery in reconstructive surgery and neurosurgery. Less invasive techniques such as laparoscopy and robot-assisted laparoscopy have also been developed in open surgery. The advantages of robotic surgery in laparoscopy clearly stem from the growing trend in such procedures. As the robotic platform has become more widespread, microsurgeons have also explored its potential use in microsurgery.
Global Microsurgery Robot Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global microsurgical robot market is characterized by the integration of AI and robotics to enhance surgical accuracy and outcomes. The major drivers include advances in surgical technology and increasing demand for minimally invasive surgeries. However, high accreditation costs and regulatory challenges hinder the growth of the market. North America leads the market owing to established healthcare infrastructure and sound payment systems, while Asia Pacific exhibits high growth driven by higher healthcare spending and awareness.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.1 billion |
| Market size value in 2031 | USD 3.44 Billion |
| Growth Rate | 13.5% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Microsurgery Robot Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Microsurgery Robot Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Microsurgery Robot Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Microsurgery Robot Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Microsurgery Robot Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Microsurgery Robot Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Microsurgery Robot Market Report Snapshots
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