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Europe Microsurgery Robot Market to Exceed $540 Mn By 2027
Published Date: 2021-01-19
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According to the Graphical Research new growth forecast report titled “Europe Microsurgery Robot Market Size 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), By End-use (Hospitals and Clinics, Ambulatory Surgical Centers, Research Institutes), Industry Analysis Report, Regional Outlook (Germany, France, UK, Italy, Spain, Russia, The Netherlands, Poland, Sweden)”, Estimated To Exceed USD 540 Million By 2027.
Rising demand for robotic-assisted laparo-endoscopic surgeries will boost the overall industry progression. Surgical robots are extensively used in laparoscopic surgeries, as opposed to open procedures because of several advantages offered by the product in this aspect. Technological advancements have brought forth rapid evolution in the surgical field, particularly in minimally invasive surgeries (MIS). MIS has several advantages over traditional surgery such as reduced incision size, reduced hospital stay, and faster recovery. These advantages have fostered demand for MIS procedures. Surgical robots further improve patient outcomes by enabling 3D-visualization of operating site and improve the magnification. This allows a surgeon to improve their precision of operation. Therefore, various above-mentioned aspects prove beneficial for the business expansion.
Based on application, the Europe microsurgery robot market is fragmented into ophthalmology surgery, urology surgery, neurovascular surgery, reconstructive surgery, oncology surgery, ureterorenoscopy, cardiovascular surgery, gastrointestinal surgery, ENT surgery, micro anastomosis, and others. The urology surgery segment held substantial revenue share in 2020 and is projected to witness around 14.5% CAGR owing to rising number of prostatectomies. Moreover, surging number of prostate cancers in this region will result in high number for prostatectomies, thus favoring urology surgery segmental growth over the analysis period.
Based on end-use, the Europe microsurgery robot market is segmented into hospitals and clinics, ambulatory surgical centers and research institutes among others. The hospitals and clinics segment captured more than 45% market share in 2020. Availability of advanced robotics in hospital settings will majorly drive the segmental progression. Rising number of patient’s visit due to surging chronic disorders and growing number of surgical procedures that occurs mostly in hospitals will boost the hospitals business growth over forthcoming years. Similarly, mounting healthcare expenditure along with government funding for better and advanced infrastructure at hospitals will augment the segmental expansion.
The Germany microsurgery robot market is projected to experience over 15.5% CAGR during the analysis period. Availability of sophisticated healthcare amenities in hospitals and ambulatory surgical centers has enhanced precise diagnosis of diseases that will prove beneficial for the overall country growth. Aging population prone to different chronic ailments are expected to surge the demand for various microsurgery robot devices. Moreover, high rate of technology adoption coupled with presence of well-established players in this country will foster the market progression.
Some of the well-known business players operating in the Europe microsurgery robot market are Johnson & Johnson, Intuitive Surgical, Siemens, Smith & Nephew, Medrobotics, Medtronic, Stryker, Trans Enterix, and Zimmer Biomet among others. These prominent business players have undertaken different growth strategies for maintaining resilient foothold in microsurgery robot market. For instance, in December 2018, Medtronic acquired Mazor Robotics. Mazor robotic is medical device company that manufactures and designs guidance system for robotic surgeries. This acquisition has enabled the company to strengthen its position in microsurgery robot market.
Europe microsurgery robot market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Microsurgery Robot Market, By Application, 2016 - 2027 (USD Million)
- Ophthalmology Surgery
- Cardiovascular Surgery
- Neurovascular Surgery
- Gastrointestinal Surgery
- Obstetrics and gynecology surgery
- Urology Surgery
- Oncology Surgery
- ENT Surgery
- Reconstructive Surgery
- Micro Anastomosis
Europe Microsurgery Robot Market, By End-use, 2016 - 2027 (USD Million)
- Hospitals and clinics
- Ambulatory surgical centers
- Research institutes
The above information is provided for the following region and countries:
- The Netherlands