Handheld Robotics Market : Pin-Point Analysis for Changing Competitive Dynamics

Global Handheld Robotics Market: Overview

The role of current-generation surgical robots is to assist operating surgeons rather than to replace them. By combining advantages of the operator and the robot, surgeons can achieve the desired outcome with high precision and accuracy. Robots can help achieve high precision and dexterity. However, unlike human beings, they lack the decision-making power and cognitive skills. Handheld robots enable surgeons to gain real-time control over surgical tools with improved precision.

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Researchers are currently developing handheld robots that are highly flexible and that can be manipulated by surgeons in free space in the same manner in which conventional instruments are handled. Handheld robots have the advantage of being compact. Also, they can be easily integrated into the normal surgical workflow, as they do not require much setup time. However, the development of these robots faces several technological challenges, including cost and sterility, miniaturization, and control stability.

The global handheld robotics market is projected to expand at a significant pace during the forecast period. Increasing demand for minimally invasive surgeries and cost advantages of handheld robotics over robotic surgery are some of the factors responsible for growth of the global handheld robotics market.
Key Drivers of Global Handheld Robotics Market

The global handheld robotics market is anticipated to be driven by rise in the geriatric population, increase in the number of surgical procedures, high demand for minimally invasive surgeries, and technological advancements in handheld robotics

Introduction of innovative products and extensive research and development activities in the field of handheld robotics are driving the global market. For instance, in March 2018, Human Xtensions received the FDA approval for its HandX device, a single-use, handheld laparoscopic device that offers technological benefits of robotic surgery through a cordless, lightweight, handheld modular platform. The HandX device is designed to assist in laparoscopic manipulation of the tissues, including grasping, ligation, and suturing.

Demand for minimally invasive surgeries has increased significantly over the last few years. Handheld robots are designed to overcome limitations in minimally invasive surgeries. Handheld robots are developed to provide improved functionalities along with precision-driven and articulating instrument tips. These devices offer enhancement in precision, ergonomics, and dexterity. Hence, rise in the number of minimally invasive surgeries is expected to drive the global handheld robotics market during the forecast period.

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North America to Hold a Major Share of Global Handheld Robotics Market

North America is projected to account for a prominent share of the global handheld robotics market during the forecast period. Increase in geriatric population, high rate of adoption of advanced medical devices, and presence of major market players in the region are expected to fuel the handheld robotics market in North America. Moreover, favorable reimbursement policies, increase in the number of ambulatory surgical centers, and rise in the funding by governments for medical robots are anticipated to propel the market in North America during the forecast period.

Economic growth in India, China, Brazil, Mexico, and other countries in Asia and Latin America has raised the disposable income of people, thereby increasing their purchasing power. Moreover, development of health care infrastructure, growing number of private and public hospitals, and increasing government initiatives to improve health care access are estimated to drive the handheld robotics market in these regions during the forecast period. Moreover, growth in elderly population, expanding base of health care insurance, and improved lifestyle are expected to facilitate the entry of handheld robot manufacturers in the market in the near future.

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Key Players Operating in Global Handheld Robotics Market

Major players operating in the global handheld robotics market are:

Smith & Nephew
Human Xtensions
Tuebingen Scientific Medical GmbH
Medtronic plc
Terumo Medical Corporation
Microline Surgicals
B. Braun Melsungen

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