Micro-Surgical Robot Market is expected to reach US$ 2.81757 billion in 2028 from US$ 1.28081 billion in 2022; it is estimated to grow at a CAGR of 11.9% during 2022–2028.
New York, July 15, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Micro-Surgical Robot Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, End User, and Geography," the report highlights trends prevailing in the market and factors driving its growth. The global micro-surgical robot market growth is attributed to the increasing popularity of minimally invasive surgical procedures, and the advantages of robotic surgeries in terms of accuracy, repeatability, control, and efficiency. However, the high cost of micro-surgical robots and unfavorable reimbursement scenarios hinder the market growth.
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Micro-Surgical Robot Market Report Scope & Strategic Insights:
No. of Charts & Figures
Component, Application, and End User
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Global Micro-Surgical Robot Market: Competitive Landscape and Key Developments
MMI S.p.A.; Microsure B.V.; Stryker Corporation; Intuitive Surgical, Inc.; Medtronic; Galen Robotics, Inc.; Ethicon (Johnson & Johnson Services, Inc.); Asensus Surgical, Inc.; Zimmer Biomet; Titan Medical Inc.; and ForSight Robotics LTD. are the leading companies in the global micro-surgical robot market. The market is anticipated to flourish with the development of innovative products by the key market players.
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In May 2022, MMI S.p.A. announced the grand opening of its new facility in Pisa, Italy. MMI consolidated its operations at locations in Pisa into a single 3,000 m² site.
In April 2022, ForSight Robotics announced that Adani Global Limited completed the acquisition of a minority stake for $20 million.
North America is the largest market for micro-surgical robots, and the US holds the largest share of the regional market, followed by Canada. The market growth in the US is ascribed to the developments made by key players operating in the country, technological advancements in micro-surgical robots, and an increasing number of ambulatory surgery centers. In December 2020, the Ottava robotic surgical system from Johnson & Johnson competed with Intuitive Surgical's da Vinci. This latest robotic surgical system of Johnson & Johnson's has six arms to allow more control, flexibility, and patient access during surgery. The company has been working on evaluating the Ottava system since 2021, with clinical trials set to begin in 2022. According to the company, Ottava will be able to execute a variety of treatments that overlap the treatment capabilities of the da Vinci system.
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Advantages of Robotic Surgeries in Terms of Accuracy, Repeatability, Control, and Efficiency Fueling Global Micro-Surgical Robot Market Growth
The introduction of robotic surgery is the most recent advancement in liposuction. A surgeon controls the treatments from a master console, while the robotic patient cart performs the procedures more easily and precisely than laparoscopic systems. Owing to its 3D vision and accuracy, and intuitive multi-range instruments, robotic surgery has distinct advantages in liposuction procedures over traditional laparoscopic surgeries, ensuring greater patient safety. Robotic surgeries also aid in the improvement of suturing abilities, and reduction in post-operative pain and recovery time. Robotically aided liposuction is also recommended for obese individuals weighing more than 250 kg, as laparoscopic liposuction is more demanding and difficult. As per an article published in Springer Nature Limited on “the comparison between the surgical outcomes of integrated robotic surgery and conventional laparoscopic surgery for distal gastrectomy”, in 2020, the surgical success rate in the integrated robotic distal gastrectomy (IRDG) group was 98%, significantly higher than the success rate in conventional laparoscopic distal gastrectomy (CLDG) group, i.e., 89.5%. Although both groups had similar rates of in-patient and out-patient problems, the readmission rate of the IRDG group was much lower than the CLDG group. Further, robotic surgeries aid better visualization capabilities, providing surgeons a better view of the work area and allowing them to see microscopic details using high-definition cameras. These systems have more dexterity than the human hand, and their ability to rotate 360° and navigate better allows surgeons to reach hard-to-access areas.
According to an article published in PubMed Central on “Robotic-Assisted Microsurgery for an Elective Microsurgical Practice,” a team of researchers has combined a nitrogen-powered arm (as a fifth robotic arm) with an optical magnification video lens system (Point-Setter arm and VITOM lens from Karl Storz, Tuttlingen, Germany) to develop a robotic platform for extracorporeal robotic microsurgical treatments. The VITOM is an HD exoscopic video system with optical lenses used for spine surgery and pediatric surgery. The optical magnification in the system ranges from 16× to 25×. The microsurgeon can view the image from the VITOM system just below the main 3D robot camera view using the TilePro imaging software in the surgeon interface. Thus, robotic microsurgeries ensure greater accuracy, repeatability, control, and efficiency. In line with the growing desire for better and faster healthcare services, these benefits of micro-surgical robots propel the market growth.
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Global Micro-Surgical Robot Market: Segmental Overview
Based on component, the global micro-surgical robot market has been bifurcated into instruments and accessories. The instruments segment is expected to hold a larger share of the market as of 2022. Moreover, this segment is anticipated to register a higher CAGR in the market during the forecast period. The market growth for the instrument segment is attributed to their incumbent usage, high volume consumption, and product innovation.
In terms of application type, the global micro-surgical robot market is segmented into plastic surgery, ENT surgery, urology surgery, neurosurgery, ophthalmic surgery, lymphatic surgery, and others. In 2022, the urology surgery segment is expected to hold the largest share of the market. Moreover, it is expected to register the highest CAGR during the forecast period.
Based on end user, the global micro-surgical robot market is segmented into hospitals & clinics, ambulatory surgical centers, research institutes, and others. In 2022, the hospitals and clinics segment accounts for the largest share of the market. Moreover, the same segment is expected to register the highest CAGR during the forecast period.
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