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North America Microsurgery Robot Market Size By End-use (Hospitals And Clinics, Ambulatory Surgical Centers, Research Institutes), By Application (Ophthalmology Surgery, Cardiovascular Surgery, Neurovascular Surgery, Gastrointestinal Surgery, Obstetrics And Gynecology Surgery, Urology Surgery, Oncology Surgery, ENT Surgery, Reconstructive Surgery, Micro Anastomosis, Ureterorenoscopy), Industry Analysis Report, Regional Outlook (U.S., Canada), Application Potential, Competitive Market Share & Forecast, 2021 - 2027

Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1622 | Delivery : PDF

Industry Trends

North America Microsurgery Robot Market was valued at USD 552.6 million in 2020 and is expected to witness 13.3% CAGR from 2021 to 2027.
 

North America Microsurgery Robot Market

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Rising demand for minimally invasive surgeries will propel the overall microsurgery robot market progression. Minimally invasive surgeries are gaining popularity due to its several advantages such as faster recovery, reduced hospital stays and smaller incisions that will secure the market demand. Additionally, microsurgery robot aids in improving patient outcomes owing to its advanced features. For instance, surgical robot are well equipped with 3D imaging cameras that enable improved magnification as well as imaging. Also, robotic arms allow improved dexterity and remove hand tremors, increasing its adoption rate.

North America Market, By Application

Based on application, the market is fragmented into cardiovascular surgery, ophthalmology surgery, gastrointestinal surgery, obstetrics and gynecology surgery, micro anastomosis, ureterorenoscopy, neurovascular surgery, oncology surgery, ENT surgery, urology surgery, and reconstructive surgery among others. The urology surgery segment witnessed around 20% market share in 2020 and is projected to grow with robust CAGR over the forecast period. Rising number of urological procedures will favour the market growth. Increasing usage of microsurgery robot in urology surgery owing to several advantages will spur the market demand. Advantages include reduced blood loss, less post-operative pain, smaller incisions, faster recovery and shorter hospital stays.

North America Market, By End-use

North America Microsurgery Robot Market

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The microsurgery robot market, based on end-use, is classified into hospitals and clinics, research institutes, ambulatory surgical centers among others. The hospitals and clinics segment accounted for around USD 250 million market value in 2020. Availability of advanced infrastructure and intense medical care for the treatment of several chronic disorders will drive the market growth. Also, public hospitals provide better reimbursement policies for surgical procedures that will foster the segmental progression. This is estimated to prove beneficial for the segment growth over the analysis period.

North America Market, By Country

The U.S. microsurgery robot market accounted for around 13.6% CAGR over the analysis timeframe. Increasing R&D funding for microsurgery robot coupled with increasing adoption of surgical robot has stimulated the market demand over the forecast period. Rising number of chronic disorders such as cancer, cardiovascular disease, diabetes and others in the U.S. will further accelerate the country progression. Additionally, presence of leading market players in the U.S. offering microsurgery robot for enhanced patient outcome will bolster the overall regional growth.  

Competitive Market Share

Some of the prominent market players operating in the microsurgery robot industry include Stryker, Zimmer Biomet, Auris Health (Johnson & Johnson), Meerecompany, Smith & Nephew, Medrobotics corporation, Intuitive Surgical, Medtronic, TransEnterix Surgical, Titan Medical, and Corindus Inc (Siemens Healthineers). These business players are undertaking several inorganic and organic market growth strategies to capture larger market share in Microsurgery robot industry. For instance, in July 2019, Intuitive Surgical acquired Scholly Fiberotic’s endoscope business. This acquisition has integrated two Scholly’s sites and robotic manufacturing line into Intuitive operations, strengthening their product portfolio and manufacturing capability.

Industry Background

The first application of robotic technology in surgery took place in 1985 when robot was used to define the path for stereotactic brain biopsy. Robot are integrated into daily life over the last half century. Nowadays, everyone in the developed economies benefits from the advances in robotics in day to day life. The successful application of Microsurgery robot namely Da Vinci robot, one of the most extensively used surgical robot in variety of surgical operations, currently, made its introduction in otorhinolaryngology and neck as well as head surgery in 2005 when the first trans oral robotic surgery (TORS) resections of tongue base of tongue neoplasms were informed.
 

Frequently Asked Question(FAQ) :

The U.S. microsurgery robot market accounted for around 13.6% CAGR over the analysis timeframe. Increasing R&D funding for microsurgery robot coupled with increasing adoption of surgical robot has stimulated the market demand over the forecast period.
The market size of North America Microsurgery Robot surpassed USD 552.6 million in 2020.
The industry share of North America Microsurgery Robot is anticipated to grow at 13.3% CAGR between 2021 and 2027.

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North America Microsurgery Robot Market Share - Industry Report 2027


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