At 13.9% CAGR, Microsurgery Robot Market to Reach 1.7 billion USD by 2024 - Reuters

 

At 13.9% CAGR, Microsurgery Robot Market to Reach 1.7 billion USD by 2024

At 13.9% CAGR, Microsurgery Robot Market to Reach 1.7 billion USD by 2024

Mon Dec 24, 2018 - 09:30am UTC

The 2018-2024 report on Global Microsurgery Robot market explores the essential factors of Microsurgery Robot industry covering current scenario, market demand information, coverage of active companies and segmentation forecasts.

Selbyville, Delaware – December 24, 2018

Market Study Report adds 2018-2024 Global Microsurgery Robot market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

Germany microsurgery robot market will witness momentous growth rate of 15.3% during the projected timeframe. High growth rate is credited to initiatives taken by the European Union for promoting usage of advanced technologies including robot-assisted microsurgery for healthcare purposes. For instance, European Association of Urology launched Robotic Urology Section. This will lead to high adoption rate of microsurgery robots in urology, thereby favoring business growth throughout the forecast timeline.

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The key players of the global microsurgery robot market include Auris Health Inc, Intuitive Surgical, Mazor Robotics, Medrobotics Corporation, Medtronic, Meerecompany, Smith & Nephew PLC, Stryker, Titan Medical Inc, TransEnterix Surgical inc, Zimmer Biomet. These industry giants are using tactics like new product launches, acquisitions, and mergers to expand their share in the microsurgery robot market.

The oncology surgery segment is anticipated to show significant growth over 2018-2024 owing to the high prevalence of cancer. As per WHO, in the year 2015, over 24 million individuals suffered from cancer across the globe. Robotic surgery can aid the treatment of a range of cancers including colorectal cancer, prostate cancer, head & neck cancer. Lucrative advantages like reduced recovery time and less post-operative complexities are predicted to add impetus to market growth.

Urology products dominated the market in 2017, accruing substantial returns in the year attributed to the high implementation of robot-assisted surgeries in various urological disorders. Indeed, the congenital abnormalities of the reproduction system can be cured proficiently by the means of microsurgical robots. Application of microsurgery robot aids in decreasing recovery time besides blood loss prevention. These advantages are expected to foster microsurgery robot market share from urology.

The ambulatory surgical centers end-use segment would ascend at a momentous growth rate during 2018-2024. The massive growth is ascribed to affordable treatment choices offered by the ambulatory surgical centers.

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Microsurgery robot adoption rate has depicted rapid growth in recent years making it an extensively lucrative segment of the surgical robot market. Although, the market in developed countries is surging at an unmatched pace, developing economies are still employing traditional non-robotic surgical procedures. Nevertheless, the developing economies are poised to witness outstanding growth in the imminent years based on rise in the prevalence of chronic diseases and intensifying healthcare expenditure. Countless escalations in robotic technologies, like the introduction of unconventional & innovative options, cost-effectiveness, and increase in patient benefits will surge the adoption of microsurgery robot across the globe, thereby promoting a pool of opportunities for the microsurgery robot market growth in the ensuing years.

U.S. microsurgery robot market held the largest share of revenue in the year 2017. This is attributed to high per-capita and excessive disposable income which encourages patients to go in for robotic surgical procedures. Furthermore, the surging demand for minimally invasive surgeries has amplified the use of microsurgical robots in the U.S., thereby augmenting the regional industry growth.

Table of Content:

Chapter 1. Methodology

Chapter 2. Executive Summary

Chapter 3. Microsurgery Robot Industry Insights

Chapter 4. Microsurgery Robot Market, By Application

Chapter 5. Microsurgery Robot Market, By End-Use

Chapter 6. Microsurgery Robot Market, By Region

Chapter 7. Company Profiles

For More Details on this Report: https://www.marketstudyreport.com/reports/microsurgery-robot-market

Related Report:

2018-2023 Global Microsurgery Market Report (Status and Outlook)

This report presents a comprehensive overview, market shares and growth opportunities of Microsurgery market by product type, application, key companies and key regions. Microsurgery is a general term for surgery requiring an operating microscope. The most obvious developments have been procedures developed to allow anastomosis of successively smaller blood vessels and nerves (typically 1 mm in diameter) which have allowed transfer of tissue from one part of the body to another and re-attachment of severed parts. Microsurgical techniques are utilized by several specialties today, such as: general surgery, ophthalmology, orthopedic surgery, gynecological surgery, otolaryngology, neurosurgery, oral and maxillofacial surgery, plastic surgery, podiatric surgery and pediatric surgery.

https://www.marketstudyreport.com/reports/2018-2023-global-microsurgery-market-report-status-and-outlook/?utm_source=RR-AN

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