Global demand for robotic endoscopy devices market was valued at approximately USD 1.3 billion in 2018, and is expected to generate revenue of around USD 4.0 billion by end of 2025, growing at a CAGR of around 17.8% between 2019 and 2025.
The report covers forecast and analysis for the robotic endoscopy devices market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the robotic endoscopy devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the robotic endoscopy devices market on a global as well as regional level.
According to the report, global demand for robotic endoscopy devices market was valued at approximately USD 1.3 billion in 2018, and is expected to generate revenue of around USD 4.0 billion by end of 2025, growing at a CAGR of around 17.8% between 2019 and 2025.
In order to give the users of this report a comprehensive view on the robotic endoscopy devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the robotic endoscopy devices market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the robotic endoscopy devices market on global and regional basis.
The study provides a crucial view on the robotic endoscopy devices by segmenting the market based on product, application, end user and region. All the segments of robotic endoscopy devices market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Robotics allows a range of unconventional actuation tactics to be used for endoscopes, to reduce trauma to the GI tract. Computer and robot assisted and surgeries focus to enhance surgeons’ interventional capabilities and overcome the restrictions of minimally invasive surgical procedures. A large number of robotic endoscopy devices are under development or have been developed. These devices are mainly developed for therapeutic applications. Technological innovations are expected to bring innovation and overcome existing challenges faced while using robotic endoscopy devices such as instrument control, robotic locomotion, clinical application etc.
The demand for robotic endoscopy devices market is driven by increasing number of robot assisted surgeries and growing preference for minimally invasive surgeries. Increasing investments for robotic system development, focus of key players on product expansion, and increasing prevalence of chronic diseases are other factors that boost the market growth. However high cost of robotic endoscopy devices may pose challenges to robotic endoscopy devices market. Technological advancements are expected to bring new growth opportunities for major market players operating in the global robotic endoscopy devices.
Based on product, global robotic endoscopy devices market is bifurcated into therapeutic and diagnostic. Therapeutic product segment accounted for largest market share in 2018. Increasing number of surgeries, increasing preference for automation using robotic system to minimize errors and avoid complications are factors attributing the dominating share of therapeutic product segment. Diagnostic product segment is projected to witness highest growth over the forecast period due to focus of major players on development of diagnostic robotic endoscopic devices.
Based on application market is segmented into colonoscopy, bronchoscopy, laparoscopy and other applications. In 2018, laparoscopy was the largest application segment with revenue share of almost 80%. This large share is attributed to growing number of robotic laparoscopic surgeries. Increasing chronic disease burden, increasing elderly population, growing demand for diagnostic and therapeutic laparoscopies are factors that promote the growth. Colonoscopy application segment is projected to register highest growth over the forecast period owing to increasing prevalence of gastrointestinal disorders.
The end user segment is divided into ambulatory surgical centers, hospitals and other end users. Hospital end user segment accounted for largest market share due to increasing investments on infrastructure development to offer best in class services to patients, for better patient outcome and to meet with regulatory compliance. Ambulatory surgical centers are expected to witness highest growth in the coming years due to increasing number of ambulatory surgical centers.
North America dominated the global robotic endoscopy devices market in 2018. Increasing investments for infrastructure development by major healthcare providers, increasing chronic diseases, favorable reimbursement policies, presence of major market players and increasing awareness are factors that are expected to drive the market in this region. Europe was second largest regional market. Availability of funds for high cost advanced device installations, increasing endoscopic procedures, and increasing aging population are some of factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region will exhibit highest growth for robotic endoscopy devices market in the coming years. Increasing chronic disease burden, increasing geriatric population, increasing disposable income and increasing health awareness are factors promoting robotic endoscopy devices market growth in Asia Pacific. Middle East and Africa will see considerable growth in coming years.
Major players included in the report are Medrobotics Corporation, Medineering GmbH, Auris Health, TransEnterix, Inc., and Intuitive Surgical, Inc.among others.
The report segment of global robotic endoscopy devices market as follows:
Global Robotic Endoscopy Devices Market: By Product
Global Robotic Endoscopy Devices Market: By Application
Global Robotic Endoscopy Devices Market: By End User
Global Robotic Endoscopy Devices Market: By Region