Pune, India, Feb. 25, 2021 (GLOBE NEWSWIRE) --
The microsurgery robot market demand is expected to witness an uptick throughout the world as robotic surgeries allow surgeons to perform numerous complex procedures with higher precision, control, and flexibility. Primarily associated with minimally invasive procedures that involve tiny incisions, robotic surgeries are being rapidly adopted by hospitals for treating an array of health conditions.
Recent breakthroughs in the areas of artificial intelligence or AI, machine learning, 3D imaging techniques, and machine vision have been improving the prospects for the market for microsurgery robots. Since robots possess superhuman abilities to perform exact motions repetitively, they are highly useful in procedures such as hair transplant surgeries. They can work for a long duration without fatigue, unlike their human counterparts.
The development of collaborative robots has ensured that the loss of motor skills amongst experienced surgeons does not impact their careers as these robots can reduce accidental movements and hand tremors. The following top seven trends have been inducing growth of the microsurgery robot market:
High incidence of chronic diseases in the U.S.
The U.S. market for microsurgery robots is certain to expand at a commendable pace through the forecast years, accelerated by the rising investments in R&D activities. The growing incidence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, alongside the higher preference for minimally invasive procedures, has been responsible for this trend.
The North America microsurgery robot market outlook has also been expanding due to the presence of multiple industry players in the U.S. The U.S. industry for these robots is poised to grow at a 13.6% CAGR between 2021 and 2027.
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Drawbacks of traditional suture-intensive gynecology procedures
An increasing focus toward overcoming the drawbacks associated with traditional suture-intensive gynecology procedures has been spurring the demand for high precision robot-assisted surgeries in North America. To this end, the regional microsurgery robot market is expected to receive a significant share from the obstetrics and gynecology segment. The segment generated over $70 million during 2020 and will rise steadily through the forecast years as well.
Introduction of new products in North America
The microsurgery robot industry in North America has been flourishing on account of the significant technological strides in the area of imaging technologies including 3D imaging, artificial intelligence (AI), and machine learning. Numerous market players have been clearing regulatory approvals.
For instance, Brainlab announced the FDA approval of its robotic surgical system, Cirq in February 2021. The system can free up the surgeons’ hands by fine tuning the alignment to a prearranged trajectory, enabling them to focus on the anatomy of the patient.
Considerable demand for urology surgeries in Europe
In terms of application, the market has been segmented into neurovascular surgery, oncology surgery, ophthalmology surgery, cardiovascular surgery, urology surgery, ENT surgery, gastrointestinal surgery, reconstructive surgery, micro anastomosis, and ureterorenoscopy. The market share from urology segment is set to grow at a 14.5% CAGR through 2027.
The increasing prevalence of prostate cancers in the region is fueling the demand for urology surgical procedures. The Europe microsurgery robot market outlook is expected to register high gains during the forecast years, owing to the augmenting prostatectomy surgical procedures in the region.
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Technological prowess of Germany healthcare sector
The German microsurgery robot market is likely to emerge as one of the leading segments in terms of revenue volume, owing to the technological prowess of the region. The availability of highly advanced medical technologies and state-of-the-art healthcare infrastructure has been fostering precise diagnosis of diseases and disorders, thereby boosting patient outcomes.
Additionally, the demand for robotic microsurgery devices has been on rise due to the high percentage of aging population in the region, who are diagnosed with chronic conditions. The presence of global market leaders in the region has also been assisting the Europe microsurgery robot industry forecast.
Ambulatory surgical centers to foster demand in APAC industry
In terms of end-use, the APAC microsurgery robot market forecast has been categorized into ambulatory surgical centers, hospitals and clinics, and research institutes, amongst others. The industry share from ambulatory surgical centers is anticipated to surge at a considerable CAGR through the next few years. It accounted for over 28% of the total market share during 2020 and might exhibit higher gains by 2027.
Thailand and Malaysia particularly have been thriving at a substantial pace, owing to the greater adoption of microsurgery robots across ambulatory surgical centers. The ease of access to skilled personnel and advanced healthcare infrastructure in ambulatory surgical centers has been driving the equipment use.
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India to demonstrate substantial robots demand
The microsurgery robot industry in India is expected to rise at a 16.5% CAGR through 2027e, driven by the growing trend of installation of these systems by private and government hospitals in the region. The segment is projected to contribute significantly toward the overall Asia Pacific microsurgery robot market share, due to the positive effect of drivers such as strong governmental support, growing penetration of technology, and high preference for cutting-edge medical equipment amongst the leading surgeons and doctors.
Stryker, TransEnterix Surgical, Zimmer Biomet, Smith & Nephew, Intuitive Surgical, Medrobotics Corporation, Auris Health, Corindus Inc., Medtronic, and Titan Medical are some leading manufacturers of microsurgery robots worldwide.
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