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Microsurgery Robot Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-22 

Microsurgery Robot Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Owing to continuous technological advancements, microsurgery robot market size is likely to expand substantially over the coming years. Automation and employment of advanced microsurgical robots will result in enhanced patient management leading to higher product demand. For instance, computer-aided design and manufacturing (CAM/CAD) systems produce precise patient representation and images to guide surgeons in procedures to improve patient outcomes.

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Rising expenditure in R&D and increased funds from various governments for the development of diverse applications of innovative microsurgery robots may stir the market forecast through 2024. In 2015, the Welsh government contributed significant funds to establish microsurgical procedures in London for lymphatic venous anastomosis (LVA). These techniques minimize the risks of cellulitis and render symptomatic relief to the patients.

As per reports, global microsurgery robot market size is anticipated to gross more than USD 1.7 billion by 2024 in terms of annual valuation. Enumerated below are some trends probable to influence the market forecast over the coming years.

Revenues gathered from the oncology segment are predicted to strike a 15.7% growth rate post the 2020 dominant coronavirus industrial crisis. World Health Organization (WHO) revealed that approximately 16 million new cancer cases would be diagnosed on annual basis by 2020. Increased deployment of microsurgical robots in cancer management activities among surgeons offers an enhanced view and warrants smaller incisions. Inclining application of cancer robotic-assisted microsurgeries will drive the segment growth.

Hospitals and clinics represented significant sales for robots and led the market share, accumulating over USD 346.4 million in in 2017. A surging patient population and the increase in the number of individuals asking for robot-assisted microsurgical procedures will stimulate the adoption of microsurgery robot components in hospitals.

Leading companies providing microsurgery robots are working on strategic partnerships for global reach. For instance, Hansen Medical, a major brand dealing with the development of intravascular robotics, acquired Auris Health in April 2016 to widen its territorial reach and product portfolio.

The firms are also focused on novel product launches. For instance, MUSA, the first global robotic platform for super microsurgery, was launched in February 2020. Developed by researchers from Eindhoven University of Technology (TU/e) and its spin-off company, MicroSure, the product is used to assist in surgical procedures. Some of the other competitors include Titan medical, Intuitive Surgical, Medrobotics, Mazor Robotics, Medtronic, Zimmer Biomet, Smith & Nephew, Transenterix, and Stryker.

Globally, the U.S. microsurgery robot market in 2017 grossed over USD 355.1 million in yearly remunerations. The growth can be attributed to the growing occurrences of chronic diseases like cardiovascular, neurovascular, and oncology, among other disorders. Potential healthcare and reimbursement policies along with installation of technically enhanced microsurgery robots are likely to drive the industry expansion.

Profits from microsurgery robots in the German economy are anticipated to hit a CAGR of 15.3% owing to several initiatives commenced by the European Union to promote the use of robot-assisted microsurgeries for healthcare purposes. Extensive utilization of the technology will result in tremendous adoption of the robots in urology, leading to enhanced regional deployment. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/microsurgery-robot-market

Partial Chapter of the Table of Content 

Chapter 2.    Executive Summary

2.1. Microsurgery robot market industry 3600 synopsis, 2013 - 2024

2.1.1.  Business trends

2.1.2.  Application trends

2.1.3.  End-use trends

2.1.4.  Regional trends

Chapter 3.    Microsurgery Robot Market Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry impact forces

3.3.1.  Growth drivers Increasing demand for surgical procedures worldwide    Technological advancements in developed economies    Rising incidences of chronic conditions in Asia Pacific Increasing funding for development of microsurgery robots in developed countries

3.3.2.  Industry pitfalls & challenges  High cost associated with robotic systems globally    Stringent regulatory scenario in developed countries    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. Regulatory scenario

3.6. Technology landscape

3.6.1.  Robotic-assisted Laparo-endoscopic

3.6.2.  Computer-integrated surgery (CIS)    Surgical CAD/CAM systems    Surgical assistants

3.6.3.  Novel surgical robotic system

3.7. Competitive landscape, 2017

3.7.1.  Strategy dashboard

3.8. PESTEL analysis

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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