NEWARK, Del, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The global micro robots market is anticipated to reach a valuation of US$ 31.73 billion in 2023, driven by increased application across various domains. The trend is expected to create new opportunities for the global market, leading to a projected CAGR of 17.5% between 2023 and 2033. It is estimated to gain a valuation of approximately US$ 159.17 billion by 2033.
In the medical and healthcare industries, micro robots are highly sought-after for minimally invasive treatments, targeted drug administration, and diagnostics. Micro robots offer precise control and accessibility to distant or delicate bodily areas, reducing invasiveness and improving patient outcomes. The healthcare sector's surge in demand has greatly supported the growth of the micro robot industry.
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Micro-robot deployment is increasing in the industrial and logistics sectors thanks to Industry 4.0, which is characterized by the integration of data interchange, automation, and digital technology. These robots carry out tasks including quality control, installation, and material handling in smart factories.
Micro-robots are also used in consumer electronics including mobile phones, cameras, as well as wearables for focusing, image stabilization, and augmented reality applications. The popularity of these technologies among consumers contributes to the growth of the worldwide microrobot industry.
Key Takeaways from the Micro Robots Market Report:
- The global market for micro robots expanded at a CAGR of 10.2% from 2018 to 2022.
- Through 2033, the US micro robots market is projected to grow at a CAGR of 19.1%.
- In the field of robotics, China has long had a leading position. The projected CAGR for China's growth throughout the predicted period is 17.3%.
- In Japan, the micro robots market would grow at a 15.8% CAGR over the course of the predicted years.
- Sales of the bio-hybrid material type are expected to increase and are projected to grow at a CAGR of 17.0% through 2033.
- By mode, the semi-autonomous sector is anticipated to maintain its dominance in the micro robots market from 2023 to 2033, growing at a CAGR of 21.7%.
“Micro robots are increasingly being used in minimally invasive surgical procedures because they need fewer procedures. This in turn is boosting the global micro robot market growth,”- says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Leading Key Players:
- Titan Medical
- Medtronic
- Stryker Corporation
- Zimmer Biomet
- Auris Health
- Mazor Robotics
- Intuitive Surgical
- Smith & Nephew
- Medrobotics
Recent Developments:
- Foldable micro robots were developed by a company named École polytechnique fédérale de Lausanne (EPFL) in Switzerland. These robots are meant to be used for various medical and healthcare applications. These come in the form of capsules and require to be swallowed down. They then unfold and navigate within the human body for minimally invasive surgery and targeted drug delivery.
- The Wyss Institute launched Robobees- miniature flying robots for Biologically Inspired Engineering at Harvard University. These are meant to mimic the bees and have enormous agricultural applications like environmental monitoring and crop pollination.
- Heaven Drones announced their collaboration with Roboteam to deploy a comprehensive turnkey robotic system featuring air and ground integration at the ISDEF 2022, International Defense & HLS Exhibition. The first-ever airborne robot was created by combining these tiny Roboteam microrobots with the Heaven Drones H100 Robo, which improves the time-to-lift abilities of both flying and ground robots.
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global micro robots market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the micro robots market, the market is segmented on the basis of mode (semi-autonomous and autonomous), material type (bio-hybrid and synthetic), end-user (pharmaceutical, healthcare, automotive, manufacturing, and military), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
Micro Robots Market Segmentation:
By Mode:
- Autonomous
- Semi-Autonomous
By Material Type:
- Bio-Hybrid
- Synthetic
By End User:
- Pharmaceutical Industry
- Healthcare Industry
- Automotive Industry
- Manufacturing Industry
- Military
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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