Stellar Digitization to drive the Microsurgery Robot Market

The Microsurgery Robot Market is slated to grow on a stupendous note in the future. In the ongoing situation, virtual monitoring tools coupled with telehealth consultations could help in getting patients treatments at home instead of hospitals. There are pre-programmed mobile devices, pulse oximeters, blood pressure monitors, and various other devices that help the healthcare personnel in keeping up with basic information. This trend is bound to keep the healthcare vertical continuously on its toes in the years to come as well.

The Microsurgery Robot Market is ascertained to make greater strides in the future. The present-day and futuristic cutting-edge technology, namely IoT, AI, and Big Data operate better in a lightning-fast and reliable internet connection. The benefits of high-speed internet would be seen in telecare in the next 2-3 years, but going forward, more authentic data streams are likely to come up with better-connected devices, thereby revolutionizing the healthcare system.

According to a latest research by the company, the global microsurgery robots market is anticipated to account for over US$ 1,562.9 Mn, in terms of value, by 2028 end. The report on microsurgery robots further projects significant growth potential with average year-on-year growth rate pegged at 7.3% through 2028.

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Microsurgery robots finds the maximum application in urology surgery as it produces superior outcomes than open and laparoscopic urology procedures. In the US, 80% of total radical prostatectomies are performed robotically because of its significant outcomes compared to other techniques. Neurosurgery is growing dependency on microsurgery robots due to minimal complication and addition of high precision. Tracing neurosurgery is reconstructive surgery for the utilization of microsurgery robotic systems.

Company Profiles:

Intuitive Surgical
Stryker
Medtronic Plc.
Zimmer Biomet
Globus Medical, Inc.
Smith & Nephew plc.
Corindus, Inc.
Renishaw plc.
TransEnterix Surgical, Inc.

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According to the American Society of Plastic Surgeons, 5,834,353 reconstructive procedures were performed in the US in 2017. The implementation of microsurgery robotic systems for reconstructive surgeries are patients increasing as newer and improved systems are emerging the microsurgery robotic surgery market. Microsurgery robotics for oncology is expected to grow with maximum CAGR due to promising results and elimination of surgeon’s hand tremor, increased flexibility and control.

The instrument segment of microsurgery robots market is segmented into three parts as per their function and position. This segment dominates as per revenue as it is expensive and is indispensable to conduct a microsurgery robotic procedure. Accessories are the auxiliary devices attached to the main robotic instrument as per surgical procedures requisite. Accessories segment is expected to grow with high CAGR due to application of various accessories for specialized feature and function according to the surgical requirement.

Microsurgery robotic systems are most prevalent in hospitals, however, their adoption is increasing in ambulatory surgical centers. According to PMR, the hospital segment accounted for over 85% revenue share in the overall microsurgery robot market in 2017. Higher costs of microsurgery robots and limited adoption among ambulatory surgical centers creates a barrier for utilization of highly complicated robotic surgery instrumentation. However, the growing popularity of microsurgery robot and its crossover success in clinical studies for developing better and advancer microsurgery robot and decrease in their price due to competition pressure can exponentially increase its implementation in hospitals and ambulatory surgical centers.

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North America region is anticipate to remain most dominant in the global microsurgery robot market. Further, the growing number of manufactures and availability of improved technologies in surgical robotics adds to the supremacy of North America in microsurgery robot market. Moreover, Europe microsurgery robot market is estimated to create incremental opportunity worth approximately US$ 429.9 Mn between 2018 and 2028. APEJ region is forecast to behold most CAGR and potential to create a considerable revenue share in global microsurgery robot market.

Regional penetration of manufactures and increased availability of microsurgery robot is likely to boost the growth of the microsurgery robots market in the APEJ region. Increasing utilization of robotic systems and rising healthcare expenditure in CIS & Russia is expected to surge the demand for more advanced microsurgery robot.

PMR has segmented the global microsurgery robot market into component, applications, end users and region. In terms of revenue, the instruments segment in microsurgery robot will hold significant share over the forecast period. In contrary, the services segment in microsurgery robot market will exhibit limited investment opportunities, in terms of revenue, through 2028.

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This release was published on openPR.