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Robotic Endoscopy Devices Global Market 2024 - Driving Factors, Industry Challenges, Business segmentation, Leading countries And Forecast To 2033
Robotic Endoscopy Devices Global Market
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According to The Business Research Company's, The robotic endoscopy devices market size has grown rapidly in recent years. It will grow from $2.14 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to aging population, increasing demand for minimally invasive procedures, rising awareness of early disease detection, regulatory approvals, growing prevalence of gastrointestinal disorders.
The robotic endoscopy devices market size is expected to see rapid growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to expansion of robotic surgery applications, rising demand for remote surgery capabilities, increasing healthcare expenditure, growing adoption of endoscopic procedures, surge in global patient base for endoscopy. Major trends in the forecast period include development of flexible robotic endoscopy devices, integration of machine learning in endoscopic diagnostics, emergence of capsule endoscopy technology, focus on disposable endoscopy devices, increasing use of robotics in therapeutic endoscopy.
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Market Drivers and Trends:
The growing number of robotic surgery procedures is expected to propel the growth of the robotic endoscopy device market going forward. Robotic surgery is an advanced surgical technique that uses robotic systems to assist surgeons during surgical procedures. Robotic devices are widely used in endoscopy procedures for better maneuverability and efficiency and to simplify complex processes by improving visualization, exposure, and tissue manipulation. For instance, in January 2022, according to Intuitive, a US-based robotic surgery company, the total number of surgical procedures performed using its Da Vinci robotic surgery systems increased to 1,594,000 in 2021, with an increase of 28% as compared to 1,243,000 procedures in 2020. Therefore, the growing number of robotic surgery procedures drives the robotic endoscopy device market forward.
Product innovations are a key trend gaining popularity in the robotic endoscopy device market. Major companies operating in the robotic endoscopy devices market are developing advanced technologies and products to sustain their position in the market. For instance, in May 2023, Virtuoso Surgical, a US-based manufacturer of minimally invasive surgery devices, launched its new robotic surgery system. The new system uses revolutionary technology to aid surgeons in endoscopic procedures. The technology allows surgeons to use two hands to make dexterous movements at the end of an endoscope deep inside the body. The rigid endoscope tip of the Virtuoso Surgical system, which has two robotically operated, needle-sized manipulators, is less than half the diameter of a U.S. dime. The manipulators are 1mm in diameter, and the scope itself is far smaller than the gear used by conventional robotic endoscopes.
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Major Key Players of the Market:
Johnson & Johnson Services Inc., Medtronic PLC, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Carl Zeiss AG, Olympus Corporation, HOYA Corporation, Intuitive Surgical Inc., Smith + Nephew GmbH, Arthrex Inc., ENDO Robotics Co Ltd., Karl Storz SE & Co. KG, Auris Health Inc., Cantel Medical Corp., ConMed Corporation, Ambu A/S, Richard Wolf GmbH, Brainlab AG, Renishaw plc., Fortimedix Surgical B.V., CapsoVision Inc., Asensus Surgical Inc., Medrobotics Corporation, EndoMaster Pte Ltd., Ovesco Endoscopy AG, Medineering GmbH, Virtuoso Surgical Inc., Gray Optics Co
Robotic Endoscopy Devices Market 2024 Key Insights:
• The robotic endoscopy devices market size is expected to see rapid growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Surge In Robotic Surgery Procedures Fuels Growth In Robotic Endoscopy Device Market
• Virtuoso Surgical Unveils Groundbreaking Robotic Surgery System In Robotic Endoscopy Device Market
• North America was the largest region in the robotic endoscopy devices market in 2023
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