North America microsurgery robot market to reach USD 1.2 billion mark by 2027
The research report on ‘North America microsurgery robot market’ entails all the important factors such as the growth stimulants, opportunities, as well as challenges that are governing the industry dynamics over the period of 2021-2027. It contains data regarding economic status of the top regions and their respective contribution to the overall market valuation. Moreover, it also provides the COVID-19 impact analysis, along with advanced recommendations for business continuity.
According to credible estimates, North America microsurgery robot market is expected to exceed a valuation of USD 1.2 billion by 2027. The growth can be credited to rising investments towards developing advanced microsurgery robots, growing cases of chronic conditions, technological advancements, and soaring demand for minimally invasive surgical procedures.
As per the report, North America microsurgery robot market is evaluated based on end user scope, application spectrum, and its geographical reach. In addition, the document discusses competitive landscape, elaborating on the various business-centric strategies adopted by firms to gain an edge in this business sphere.
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Robust technological breakthroughs in this business domain have resulted in the development of microsurgery robots with high and accurate performance. This has helped to obtain high throughput capability, further allowing to produce significant epidemiological data from individuals, thereby stimulating the overall industry outlook.
Additionally, automation of surgical procedures has led to advanced patient management, which in turn is adding traction to microsurgery robot market size in North America. In order to develop advanced microsurgery robots, medical device companies are collaborating, leading to improved accessibility for advanced robots and reducing the cost of the product.
Citing an instance, Johnson and Johnson, announced cooperation with the subsidiary of Google Life Sciences, called Verily Life Sciences, and developed advanced robotics, instrumentation, and visualization in their products.
Thus, focus among leading companies towards innovative product launches is favoring the business outlook. Coming to the drawbacks, strict regulatory scenario and hefty cost associated with robotic systems are likely to hamper North America microsurgery robot industry remuneration over the forecast timespan.
Analyzing the market segmentations
Based on application spectrum, the obstetrics and gynecology surgery segment of North America microsurgery robot market had amassed revenues worth USD 70 million in 2020, creditable to widespread adoption of robot-assistance in gynecological surgeries such as sacrocolpopexies, lymph node dissections, radical hysterectomy, abdominal myomectomy, and hysterectomy.
Moreover, shifting patient preference towards robotic approach to address the limitations of traditional suture-intensive gynecological surgeries is boosting the growth of North America microsurgery robot industry from obstetrics and gynecology surgery segment.
With respect to end use scope, estimates cite that ambulatory surgical centers segment accounted for 32% of North America microsurgery robot market share in 2020, as they provides cost effective, better treatment options in supervision of skilled specialist. Growing microsurgery robot adoption rates in ambulatory surgery centers to provide minimal invasive surgery and improved patient care and comfort would boost segmental growth.
Expounding the regional landscape
As per credible estimates, U.S. microsurgery robot industry size is poised to record 13.6% CAGR 2027, attributable to increasing number of chronic diseases and availability of advanced healthcare facilities in hospitals and clinics for enhanced diagnosis of diseases. Furthermore, rising acceptance of surgical robot for various surgeries and availability of funding in microsurgery robot is anticipated to add to the regional market outlook.
To access a sample pages of this report titled “North America Microsurgery Robot Market Size By End-use, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents, please click the link below:
North America Microsurgery Robot Market by Application Reach (Revenue, USD Million, 2016-2027)
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