Microsurgery Robot Market 2020 By Regional Trend & Growth Forecast To 2026

Microsurgery Robot Market 2020 By Regional Trend & Growth Forecast To 2026

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.

Burgeoning cases of chronic diseases such as cancer, CVDs, stroke, diabetes, and others have laid an immense impact on the potential growth of global microsurgery robot market, which has been developed in an attempt to provide precise and effective treatment and surgeries. In fact, various reports have claimed that the burden of chronic diseases is gradually rising worldwide, owing to the sedentary lifestyle and excessive consumption of alcohol and a shifting trend towards smoking. Speaking of which, about one-third of the global population suffers from multiple chronic conditions. In addition to this, over 45% of American population has been diagnosed with at least one chronic condition. Such numbers have evoked the need of having microsurgery robots; which boast of enormous applicability in oncological surgeries, cardiovascular surgeries, and neurological surgeries.

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It has been estimated that the overall microsurgery robot market would account for a phenomenal valuation of USD 2.1 billion over the span of 2020 to 2026, in lieu of the below mentioned trends:

Rising product applications for carrying out oncology surgeries

Endorsing a huge application base, the global microsurgery robot market is expected to generate massive remuneration from the oncology surgery segment in the upcoming years. In fact, it was reported that the sector acquired a fair share of 20% in 2019 and is looking forward to garnering significant gains, mainly due to the product’s massive use in cancer treatment. That said, it would be safe to declare that rising cases of cancer would offer a positive boost to the demand for microsurgery robots. As a matter of fact, WHO statistics cite that nearly 9.6 million deaths due to chronic cancers were recorded worldwide in 2018 alone. Such daunting numbers have instigated the need for robots for oncology surgeries, subsequently escalating the segmental valuation.

Increased use in R&D institutes

It is pivotal to note that microsurgery robots are not only used across the healthcare settings, but they also have potential use in the research institutes. Industry experts have raised claims that the research institutes would depict a CAGR of 14.4 per cent through 2026, given a phenomenal surge in research projects that have fueled the demand for microsurgery robots over a while now. A potential advantage of making use of these robots in the research and development activities is their provision of enhanced accuracy and reduced costs associated with deployment of such infrastructures. Not only this, increasing support of government and funding in research processes would also significantly accentuate the growth dynamics in the years to come.

70% mortality rate due to chronic ailments in APAC region

It has been observed that Asia Pacific holds a huge patient pool when it comes to the prevalence of chronic ailments and diseases. In this case, it would be overt to state that the region would emerge as a strong growth ground for overall microsurgery robot industry over the span of six years. This growth predominantly comes from the surging demand for microsurgery robots and the advantages offered by these including reduced risks of infection, less pain, reduction in hospital stays, and others. Apparently, this elevating demand has propelled several market players to step up and undertake initiatives to make such robots available in the region. For example, Corindus Vascular Robotics had in mid-2018 announced receiving approval from PMDA for the commercialization of Corpath GRX system in Japan.

Such initiatives, in line with several others, are likely to stimulate the growth statistics of overall microsurgery robot business space.

Intrinsic efforts undertaken by industry majors

As mentioned, companies operating in the microsurgery robot market space are leaving no stone unturned to provide ample benefits of these products to their huge consumer base. Companies like Auris Health, Intuitive Surgical, Zimmer Biomet, and Medtronic amongst others engaging in diverse industry tactics to strengthen their product portfolio to gain a competitive edge in the overall business space.

Recently, an Italian firm working toward improvement in clinical outcomes for patients undergoing microsurgery- MMI SpA- had in October 2020 declared inking a financing agreement with the European Investment Bank for a grant of about USD 17.74 million to support the company’s long-term financial strategy for the development of robotic systems for microsurgery. 

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Partial Chapter of the Table of Content 

Chapter 2   Executive Summary

2.1    Microsurgery robot industry 3600 synopsis, 2015 - 2026

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 Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 - 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing demand for minimally invasive 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 and 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

3.4    Growth potential analysis

3.4.1    By application

3.4.2    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.7    Technology landscape

3.7.1    Robotic-assisted Laparo-endoscopic

3.7.2    Computer-integrated surgery (CIS)

3.7.2.1    Surgical CAD/CAM systems

3.7.2.2    Surgical assistants

3.7.3    Novel surgical robotic system

3.8    Porter’s analysis

3.9    Competitive landscape, 2019

3.10    PESTEL analysis