Global Robot Assisted Laproscopic Devices Market, By Type (Robotic-assisted Radical Prostatectomy (the golden standard), Robotic-assisted Partial nephrectomy, Robotic-assisted Nephrectomy, Others), Application (Hospitals, Ambulatory Surgical Center, Others) – Industry Trends and Forecast to 2029.
Robot Assisted Laproscopic Devices Market Analysis and Size
The robot assisted laproscopic devices market is expected to witness significant growth during the forecast period. The rising prevalence of chronic lifestyle diseases like diabetes, pancreatic cancer, and gastrointestinal problems among the general population is the main factor driving the global market. The widespread adoption of laparoscopic equipment has been boosted by the excellent success rates connected to laparoscopy. In addition, MI operations are becoming more popular among both patients and medical professionals due to the increased efficacy, accelerated recovery time, and improved patient outcomes compared to traditional surgeries.
Data Bridge Market Research analyses that the robot assisted laproscopic devices market which was USD 3.6 billion in 2021, would rocket up to USD 6.76 billion by 2029, and is expected to undergo a CAGR of 8.20% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Robot Assisted Laproscopic Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Robot assisted laproscopic devices Analysers, POC Test Kits, Robot assisted laproscopic devices Analyser Kits and Reagents), Application (Basic Metabolite Panel, Liver Function Test, Electrolyte Panel, Kidney Function Test, Lipid Profile, Specialty Chemical Test, Thyroid Profile, Other Biochemical Tests), End User (Hospitals, Pathology Laboratories, Maternity Centres, Outpatient Centres, Clinics)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Intuitive Surgical Inc (U.S.), Stryker (U.S.), Medrobotics Corporation (U.S), Johnson & Johnson Private Limited (U.S.), Globus medical (U.S.), NuVasive Inc. (U.S.), Smith + Nephew (U.K.), Titan Medical Inc (Canada), TransEnterix Inc (U.S.), University of Pittsburgh Medical Center (U.S.), Mazor Robotics (Israel), Auris Health Inc. (U.S.), Corindus Inc. (U.S.), Renishaw plc (U.K.), Medineering GmbH (Germany)
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Market Opportunities
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Market Definition
A laparoscopy is a surgical diagnostic procedure used to identify the organs. Different devices, including a laparoscope, are used to inspect the abdominal organs during a laparoscopy surgery. It is a lengthy, thin tube with a front-facing high-resolution camera and a bright light. Long instruments shaped like pencils are used in laparoscopic surgery. These devices are made of solid materials with premium stainless steel and can fit through tiny cuts in the abdominal wall. Various tools are utilised during laparoscopic surgeries, including the trocar, bowel grasper, laparoscope, and needle driver for suturing.
Robot Assisted Laproscopic Devices Market Dynamics
Drivers
- Increase use of minimally invasive procedures
Increased use of minimally invasive procedures over open procedures is anticipated to drive market expansion throughout the forecast period. Since laparoscopic operations are less intrusive, less expensive, and enable quicker recovery than conventional procedures, insurance is available worldwide and covers practically all minimally invasive surgeries. The market for robot-assisted laparoscopic devices is anticipated to grow as a result of these causes.
- Growing acceptance of minimally invasive procedures
Around 15 million laparoscopic surgeries are performed annually, which is expected to rise in the future. Due to the rise in chronic diseases including colorectal cancer, increasing bariatric operations, and other factors, the market growth in the near future would be impacted by the growing acceptance of minimally invasive procedures. Additionally, industry technological development is projected to fuel market expansion globally.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of robot assisted laproscopic devices market is the rising healthcare expenditure for improving its infrastructure. Also, various government organizations aim to improve the healthcare infrastructure by increasing funding, which will further influence the market dynamics.
Opportunities
The robot assisted laproscopic devices market's growth is fuelled by rising healthcare spending, insurance coverage, availability of advanced minimally-invasive surgeries, and adoption of minimally-invasive options due to fewer post-operative complications and faster recovery. This will provide beneficial opportunities for the robot assisted laproscopic devices market growth.
Restraints/Challenges
On the other hand, the high cost of laproscopic devices will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the robot assisted laproscopic devices market.
This robot assisted laproscopic devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the robot assisted laproscopic devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Robot Assisted Laproscopic Devices Market
The covid-19 had a positive impact on robot assisted laproscopic devices market. Manufacturers of laparoscopy equipment with operations in china and india have a significant potential to expand and maximise revenue during the COVID-19 epidemic as these governments are now removing the lockdown to begin industrial manufacturing.
Recent Development
- In December 2020, Olympus has revealed that their VISERA ELITE II surgical imaging platform for minimally invasive surgery will get 3D and infrared capabilities. The inclusion of such an imaging platform could aid medical facilities in increasing productivity and reducing costs.
- In February 2020, A medical device firm and pioneer in surgical Artificial Intelligence (AI), digital education, training, and data analytics, Digital Surgery was acquired by Medtronic. With this acquisition, its platform for robotic-assisted surgery will be improved, and laparoscopic procedures will have access to AI and data analytics.
Global Robot Assisted Laproscopic Devices Market Scope
The robot assisted laproscopic devices market is segmented on the basis of type, application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Robotic-assisted Radical Prostatectomy (the golden standard)
- Robotic-assisted Partial nephrectomy
- Robotic-assisted Nephrectomy
- Others
Application
- Hospitals
- Ambulatory Surgical Center
- Others
Robot Assisted Laproscopic Devices Market Regional Analysis/Insights
The robot assisted laproscopic devices market is analysed and market size insights and trends are provided by country, type, application as referenced above.
The countries covered in the robot assisted laproscopic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the robot assisted laproscopic devices market due to the presence of a well-established healthcare sector, the financial capability of the hospitals to invest in robotic endoscopy devices.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising disposable income, healthcare expenditure, and prevalence of chronic diseases are expected to drive the regional demand.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The robot assisted laproscopic devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for robot assisted laproscopic devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the robot assisted laproscopic devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Robot Assisted Laproscopic Devices Market Share Analysis
The robot assisted laproscopic devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to robot assisted laproscopic devices market.
Some of the major players operating in the robot assisted laproscopic devices market are:
- Intuitive Surgical Inc (U.S.)
- Stryker (U.S.)
- Medrobotics Corporation (U.S)
- Johnson & Johnson Private Limited (U.S.)
- Globus medical (U.S.)
- NuVasive Inc. (U.S.)
- Smith + Nephew (U.K.)
- Titan Medical Inc (Canada)
- TransEnterix Inc (U.S.)
- University of Pittsburgh Medical Center (U.S.)
- Mazor Robotics (Israel)
- Auris Health Inc. (U.S.)
- Corindus Inc. (U.S.)
- Renishaw plc (U.K.)
- Medineering GmbH (Germany)
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