Robotic Endoscopy Devices Market to Reach Worth USD 4,925.6 Million in 2030 | Emergen Research
The global robotic endoscopy devices market size reached USD 1,683.1 Million in 2021 and is expected to register a revenue CAGR of 12.7% during the forecast period, according to latest analysis by Emergen Research. The rising number of geriatric population is one of the major factors expected to drive the growth of the robotic endoscopy devices market. According to the United Nations Department of Economic and Social Affairs, by 2050, around 21% of the world's population will be aged 60 or over. The increasing number of geriatric population is also anticipated to increase the demand for minimally invasive surgical procedures, which is expected to propel the growth of the robotic endoscopy devices market over the forecast period.
The increasing number of technological advancements is also expected to boost the growth of the robotic endoscopy devices market. Various companies are focused on introducing new and advanced products in the market in order to gain a competitive edge over others. For instance, in September 2018, Olympus Corporation launched an updated version of the TJF-Q180V duodenoscope, which is a balloon-occluded retrograde transvenous obliteration (BRTO) scope. This new product has a number of features that are designed to improve the user experience and increase safety during procedures.
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The increasing number of patients suffering from obesity is also anticipated to propel the growth of the robotic endoscopy devices market. Obesity is a major risk factor for various chronic diseases such as diabetes, heart disease, and cancer. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight, out of which 650 million adults were obese. Thus, the increasing number of obese population is expected to lead to an increased demand for minimally invasive surgical procedures, which is anticipated to drive the growth of the robotic endoscopy devices market.
However, the high cost associated with robotic endoscopy procedures is expected to restraint the growth of the robotic endoscopy devices market over the forecast period.
Robotic endoscopy is an emerging technology used in various surgical procedures, which helps surgeons to treat patients with minimally invasive procedures. This technology provides a three-dimensional (3D) view of the operating area, which helps surgeons to perform complicated procedures with great precision. Moreover, it also reduces surgical trauma and enhances the overall patient experience.
Some Key Highlights From the Report
- Surgical segment accounted for significantly large revenue share in 2021 due to rising number of surgical procedures performed, globally. Gastroenterology and urology are some of the most commonly performed surgeries, which is likely to fuel market demand over the forecast period.
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- According to the International Society of Urology, in 2014, there were 1.3 million new cases and 0.5 million deaths due to urological cancers globally. Moreover, increasing prevalence of gastrointestinal disorders is projected to propel market demand over the forecast period.
- According to the World Gastroenterology Organisation (WGO), in 2015, gastrointestinal disorders affected 4.4 billion people globally, which is projected to increase to 6.1 billion by 2025. Increasing number of surgical procedures is likely to fuel market demand over the forecast period.
- Laparoscopy segment accounted for largest revenue share in 2021 due to its minimally invasive nature. This surgical procedure is associated with benefits such as short hospital stay, less pain, and low risk of infection. According to the American Academy of Family Physicians (AAFP), in 2016, there were approximately 547,000 laparoscopic cholecystectomies performed in the U.S., which is projected to increase over the forecast period.
- Hospitals segment accounted for significantly large revenue share in 2021 due to increasing number of surgical procedures performed in hospitals. According to the Centers for Disease Control and Prevention (CDC), in 2016, there were approximately 51.4 million surgeries performed in U.S. hospitals, which is projected to increase over the forecast period.
- North America region accounted for significantly large revenue share in 2021 due to high prevalence of gastrointestinal disorders and increasing number of surgical procedures in the region. According to the CDC, in 2015, there were approximately 15.5 million new cases of gastrointestinal disorders diagnosed in the U.S., which is projected to increase over the forecast period.
- The Asia Pacific regional market is expected to grow at highest CAGR over the forecast period due to rising number of surgical procedures and increasing prevalence of gastrointestinal disorders in the region. According to the World Gastroenterology Organisation (WGO), in 2015, gastrointestinal disorders affected 4.4 billion people globally, which is projected to increase to 6.1 billion by 2025. Moreover, according to the International Society for Gastrointestinal Endoscopy (ISGE), in 2015, there were approximately 16 million endoscopic procedures performed in Asia Pacific, which is projected to increase over the forecast period.
- Some major companies in the global market report include Auris Health, Inc., Olympus Corporation. Intuitive Surgical, Brainlab AG, Asensus Surgical US, Inc., CMR Surgical Ltd., avateramedical GmbH, Medtronic, B. Braun Melsungen AG, Boston Scientific Corporation, and AKTORmed GmbH.
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Emergen Research has segmented global robotic endoscopy devices market on the basis of approach, application, end-use, and region:
- Approach Outlook (Revenue, USD Million; 2019-2030)
- Application Outlook (Revenue, USD Million; 2019-2030)
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Ambulatory surgical centers
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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