Microsurgery Robot Market Outlook Development Factors, Latest Opportunities and Forecast by 2034

The global microsurgical robots market size is expected to reach USD 1,171.4 million in 2024. Microsurgical robot’s sales revenue CAGR expected to be 7.3% during 2024-2034. By 2034, the demand for microsurgical robots is expected to reach USD 2,373.8 million.

The expansion of the microsurgical robot market is driven by the growing demand for less invasive surgical treatments and the advantages of robotic surgery in terms of precision, consistency, control, and efficiency. The growth of the microsurgical robot’s market is hindered by the high cost of microsurgical robots and unfavourable reimbursement terms.

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Extensive research and development in robotics and mechatronics pays out financially for robotic systems. They have cleared the path for the creation of such complex medicines, motivating producers of microsurgery robots to devote funds to R&D and use robotics to further medical science.

The necessity for less invasive surgical procedures and growing awareness of the benefits among healthcare professionals encourage the microsurgery robot industry to grow in North America. The market for microsurgery robots is growing significantly in Europe, mostly due to a well-established healthcare system and a strong focus on medical technology research and development. The Asia Pacific market for microsurgery robots is enhanced by the region's huge patient population and growing emphasis on precision medicine.

Key Takeaways 

• The urology segment of the product category will have a share of 26.0% by 2034.
• In the end-user category, the hospital segment will have a share of 65.8% by 2034.
• The oncology segment of the product category will have a CAGR. of 8.9% from 2024 to 2034.
• In the end-user category, the hospital segment will have a CAGR of 2034. 65.8% for the year. It will grow by 7.6% from 2024 to 2034.
• In the components category, the equipment segment will account for 83.8% by 2034.
• The accessories segment of the parts category will accelerate at a CAGR of 8.1 percent from 2024 to 2034.
• The US microsurgical robot market to grow from 2024 to 2034. expected to grow by 4.3 percent by 2034.
• Canadian microsurgical robot sales to grow by 3.7% CAGR by 2034.
• Mexico microsurgical robot CAGR to grow by 2.7% from 2024 to 2034.
• The microsurgical robot China's robot CAGR will grow by 9.9% in Korea 2034.
• The surgical robotics industry is expected to grow at a CAGR of 8.4% from 2024 to 2034.
• The CAGR of microsurgical robot sales in Japan is expected to be 7.7% by 2034.

"The increasing need for less invasive surgeries and improvement in surgical technology is expected to drive the expansion of the microsurgical robot market. Increasing applications, less invasiveness and better accuracy are the main growth drivers of the microsurgical robot market," commented the analyst.

Key Companies Profiled in This Report

• Intuitive Surgical
• Stryker
• Medtronic Plc.
• Zimmer Biomet
• Globus Medical, Inc.
• Smith & Nephew plc
• Corindus, Inc.
• Renishaw plc
• TransEnterix Surgical, Inc.

Competitive Landscape

The worldwide market is fragmented as a result of the large market shares held by several manufacturers of microsurgery robots. Prominent providers of microsurgery robots are closely monitoring the state of the industry to increase their growth opportunities.

Newest Advancements

• The goal of SS Innovations' November 2022 acquisition of American company Avra Medical Robotics was to expand the market for its surgical robot equipment worldwide.
• A private medical technology business called Accelus is committed to elevating minimally invasive surgery (MIS) to the status of the gold standard for treating various ailments. An update to the Remi Robotic Navigation System software was authorized by the FDA in November 2022 in the United States. This version enables surgeons undergoing lumbar spine fixation to put pedicle screws using robotic assistance.

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Country-wise Insights

The North American market for microsurgery robots is anticipated to expand at a 4.3% annual growth rate until 2034. The primary reason for the rise is the industrialized world's, especially the US and Canada, increasing need for microsurgery robots. The United States will lead the globe in microsurgery robot sales by 2034 with a 90.7% market share.

Market for microsurgery robots in East Asia is anticipated to expand at a CAGR of 8.7% through 2034. China is expected to become the dominant player in the East Asian microsurgery robot’s industry by 2034, with a 44.1% market share.

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