How The Market Developments Of Key Players Impact The Microsurgery Robot Market? Key Players: Stryker, Smith & Nephew, Zimmer Biomet, Medtronic, Auris Health, Inc
The Microsurgery robot Market to exceed USD 1.7 billion by 2024; according to a new research report by Global Market Insights. Increasing demand for minimally invasive surgical procedure will remarkably drive microsurgery robot market growth over the forecast period. Enhanced effectiveness, absence of post-operative complications and better patient outcomes are the major factors escalating demand for microsurgery robot. With employment of minimally invasive microsurgical robot, patients experience reduction in recovery time. Reduced hospital stays, and minimum scarring are other advantages associated with employment of microsurgery robot. Such factors will foster considerable business growth over the forthcoming period.Increasing number of chronic diseases will spur the need for microsurgical robot in upcoming years. Chronic conditions such as cardiovascular disease, cancer, neurological disorders and high blood pressure escalate the need for surgical procedures. As robotic-assisted surgery offers wide array of benefits compared to non-robotic surgeries, its demand will increase. Microsurgery robots have huge applicability, including cardiovascular surgeries, neurological surgeries, and oncological surgeries. Use of advanced surgical robot for surgeries in hospitals and ambulatory surgical centers will in turn increase number of robotic-assisted surgical procedures, in foreseeable future. This will positively impact adoption of microsurgical robot, thereby driving industry growth during the forecast period.
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Urology surgery segment dominated in 2017, with segmental revenue of USD 140.9 million owing to huge applicability of robot-assisted surgeries in urology disorders. Congenital abnormalities of reproductive organs can be treated efficiently by using microsurgical robots. Complex procedures such as pyeloplasty can be managed effectively by use of robotic assistance that offers greater precision than laparoscopic pyeloplasty. Employment of microsurgery robot helps reducing recovery time along with prevention of blood loss. These benefits will facilitate accelerating demand for microsurgery robot in urology disorders in forthcoming years, thereby augmenting segmental growth.
Oncology surgery segment will grow at a momentous rate of 15.7% during the forecast timeframe owing to high pervasiveness of cancer. According to World Health Organization, in 2015, more than 24.6 million people worldwide suffered from cancer. Robotic surgery can be employed for treatment of various cancers such as prostate cancer, colorectal cancer, head and neck cancer. Shorter recovery time and low post-operative complication are few of the advantages offered by robotic-assisted cancer treatment. Such factors will favour segmental growth in recent years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Stryker
• Smith & Nephew
• Zimmer Biomet
• Medtronic
• Auris Health, Inc
• Titan Medical Inc.
• TransEnterix, Inc
• Mazor Robotics
• Medrobotics Corporation
Hospitals and clinics segment held largest revenue share of 50.7% in 2017. The segmental growth is attributable to growing burden of chronic diseases on healthcare industry. Multi-speciality hospitals offer advanced therapeutic solutions to patients, thereby improving patient outcomes. Affordability of hospitals to buy technologically advanced robotic systems and increasing adoption of minimally invasive surgical procedures will increase demand for microsurgery robot market in forthcoming period.
Ambulatory surgical centers segment will grow with a remarkable rate of 14.5% during the forecast timeframe. High growth rate is credited to cost-effective treatment options provided by ambulatory surgical centers. Reduction in length of stay in ambulatory surgical centers is major factor propelling segmental growth. As there is high adoption rate of surgical robots in ambulatory surgical centers for providing minimal invasive surgery, segmental growth will be tremendous in the future.
U.S. microsurgery robot market contributed to the largest revenue of USD 355.1 million in North America in 2017. High per-capita and disposable income will enable patients to opt microsurgical robot for various surgical procedures. According to General Surgery News, in 2015, about 140 thousand robotic general surgeries were performed in U.S. Microsurgical robot is widely used in U.S. due to growing demand for minimally invasive surgical procedures. This will foster regional growth in foreseeable years.
India microsurgery robot market is forecasted to grow at a rapid rate of 16.3%, owing to escalating rate of chronic and infectious diseases. Increasing healthcare expenditure, R&D activities and growing per-capita income, leading to introduction of newer technological devices and employment of microsurgery robot will contribute to boost industry growth. Moreover, greater usage of technologically advanced robotic equipment for performing wide-array of surgeries will drive revenue generation in India in coming years.
Microsurgery Robots Market, by Application
1 Ophthalmology surgery
2 Cardiovascular surgery
3 Neurovascular surgery
4 Gastrointestinal surgery
5 Obstetrics and Gynecology surgery
Microsurgery Robots Market, by End-use
1 Hospitals and clinics
2 Ambulatory surgical centers
3 Research Institutes
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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
3.3.1.1. Increasing demand for 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 & 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
Chapter 4. Microsurgery Robot Market, By Application
4.1. Microsurgery robot market share by application, 2017 & 2024
4.2. Ophthalmology surgery
4.2.1. Market size, by region, 2013 – 2024 (USD Million)
4.3. Cardiovascular surgery
4.3.1. Market size, by region, 2013 – 2024 (USD Million)
4.4. Neurovascular surgery
4.4.1. Market size, by region, 2013 – 2024 (USD Million)
4.5. Gastrointestinal surgery
4.5.1. Market size, by region, 2013 – 2024 (USD Million)
4.6. Obstetrics and gynecology surgery
4.6.1. Market size, by region, 2013 – 2024 (USD Million)
Chapter 5. Microsurgery robot Market, By End-Use
5.1. Microsurgery robot market share by end-use, 2017 & 2024
5.2. Hospitals and clinics
5.2.1. Market size, by region, 2013 – 2024 (USD Million)
5.3. Ambulatory surgical centers
5.3.1. Market size, by region, 2013 – 2024 (USD Million)
5.4. Research institutes
5.4.1. Market size, by region, 2013 – 2024 (USD Million)
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Data Tables
TABLE 1. Microsurgery robot industry 3600 synopsis, 2013 – 2024 (USD Million)
TABLE 2. Microsurgery robot market, 2013-2017 (USD Million)
TABLE 3. Microsurgery robot market, 2018-2024 (USD Million)
TABLE 4. Microsurgery robot market, by application, 2013-2017 (USD Million)
TABLE 5. Microsurgery robot market, by application, 2018-2024 (USD Million)
TABLE 6. Microsurgery robot market, by end-use, 2013-2017 (USD Million)
TABLE 7. Microsurgery robot market, by end-use, 2018-2024 (USD Million)
TABLE 8. Microsurgery robot market, by region, 2013-2017 (USD Million)
TABLE 9. Microsurgery robot market, by region, 2018-2024 (USD Million)
Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.
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