Rockville , Feb. 27, 2024 (GLOBE NEWSWIRE) -- The global microsurgery robot market size projected to reach US$ 1,171.4 million in 2024. The sales of microsurgery robot are expected to witness a CAGR of 7.3% from 2024 to 2034. By 2034, the demand for microsurgery robot is anticipated to reach a valuation of US$ 2,373.8 million.
The market expansion of microsurgical robot is driven by the rising demand for less invasive surgical treatments and the benefits of robotic surgeries regarding precision, consistency, control, and effectiveness. The microsurgery robot market expansion is impeded by the high cost of micro-surgical robots and unfavorable reimbursement conditions.
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Robotic systems benefit financially from extensive robotics and mechatronics research and development. They have paved the way for advancing such intricate therapies, encouraging microsurgery robot manufacturers to allocate resources towards research and development and advance medical science through robotic technology.
The need for less invasive surgical procedures and rising healthcare professionals' knowledge of the advantages promote market expansion for microsurgery robot in North America. Europe is experiencing a substantial rise in the microsurgery robot market, driven by a well-established healthcare system and a strong medical technology research and development emphasis. The region's large patient population and increased focus on precision medicine enhance the market opportunity for microsurgery robots in the Asia Pacific.
| Report Attribute | Details |
| Value Projection (2034) | US$ 2,373.8 Million |
| Growth Rate (2024-2034) | 7.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 124 Figures |
Key Takeaways
- The urology segment in the product category to grab a share of 26.0% by 2034.
- In the end user category, the hospital segment to acquire a share of 65.8% by 2034.
- The oncology segment in the product category to exhibit a CAGR of 8.9% from 2024 to 2034.
- In the end user category, the hospital segment to develop at a CAGR of 7.6% between 2024 and 2034.
- In the component category, the instrument segment to acquire a share of 83.8% by 2034.
- The accessories segment in the component category to accelerate at a CAGR of 8.1% from 2024 to 2034.
- The United States microsurgery robot market is anticipated to surge at a CAGR of 4.3% from 2024 to 2034.
- Canada microsurgery robot sales to develop at a CAGR of 3.7% through 2034.
- Mexico microsurgery robot industry is anticipated to surge at a CAGR of 2.7% between 2024 and 2034.
- China’s microsurgery robot industry is expected to surge at a CAGR of 9.9% through 2034.
- South Korea microsurgery robot industry is anticipated to boost at a CAGR of 8.4% between 2024 and 2034.
- Japan microsurgery robot sales to exhibit a CAGR of 7.7% through 2034.
“The growing need for less invasive operations and improvements in surgical technology are expected to stimulate the expansion of the microsurgery robot market. Expanding applications, less invasiveness, and improved precision, are the primary stimulants of microsurgery robot market growth.” comments an analyst
Key Companies Profiled in This Report
- Intuitive Surgical
- Stryker
- Medtronic Plc.
- Zimmer Biomet
- Globus Medical, Inc.
- Smith & Nephew plc
- Corindus, Inc.
- Renishaw plc
- TransEnterix Surgical, Inc.
Competitive Landscape
Numerous microsurgery robot producers have a significant market share, resulting in a fragmented global marketplace. Important microsurgery robot vendors are actively tracking current market developments to expand their prospects for growth.
Newest Advancements
- SS Innovations' November 2022 acquisition of Avra Medical Robotics, a United States company, aimed to take its surgical robot devices globally.
- Accelus is a private medical technology company focusing on making minimally invasive surgery (MIS) the standard of care for medical conditions. In November 2022, the FDA in the United States approved an update to its Remi Robotic Navigation System software, which allows surgeons performing lumbar spine fixation to place pedicle screws with robotic assistance.
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Country-wise Insights
Through 2034, the microsurgery robot market in North America is expected to grow at a 4.3% annual growth rate. The main cause of the increase is the growing demand for microsurgery robots in developed nations, particularly the United States and Canada. By 2034, the United States will hold a 90.7% market share for microsurgery robots, leading the world.
East Asian microsurgery robot market expected to grow at a CAGR of 8.7% till 2034. By 2034, China will hold a 44.1% market share in East Asia for microsurgery robotics, solidifying its position as the dominating player.
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