Report : Asia Pacific Micro-Surgical Robot Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Instruments and Accessories), Application (Urology Surgery, Plastic Reconstructive Surgery, Ophthalmic Surgery, Neurosurgery, Lymphatic Surgery, ENT Surgery, and Other), and End User (Hospitals and Clinics, Ambulatory Surgical Centers, Research Institutes, and Others)
At 13.1% CAGR, the Asia Pacific Micro-Surgical Robot Market is speculated to be worth US$ 581.11 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific micro-surgical robot market was valued at US$ 245.19 million in 2022 and is expected to reach US$ 581.11 million by 2028, registering an annual growth rate of 13.1% from 2022 to 2028. Growing popularity of minimally invasive surgical procedures and uses of robotic surgeries in terms of accuracy, repeatability, control, and efficiency.
Minimally invasive surgeries are associated with less pain, lower complications, shorter hospital stays, and quicker recovery. The minimally invasive procedures can be incorporated into cardiothoracic, heart, and pediatric surgeries; gastroesophageal reflux treatments; gastroenterology procedures; gynecological surgery; urogynecology and pelvic reconstructive surgeries; urological surgeries; and so on. According to the World Health Organization (WHO), ~235 million major surgeries were performed Asia Pacific in 2019. Further, figures from the Australian Institute of Health and Welfare (AIHW) state that the total knee replacement rate for osteoarthritis surged by ~38% from 2005–2006 to 2017–2018. As per a report published Jan 2020 in JAMA Network Open, robot-assisted treatments accounted for 15.1 percent of all general surgeries in 2018, up from 1.8 percent in 2012. Researchers examined clinical registry data from 169,404 patients who had robotic, open, or laparoscopic surgeries at 73 hospitals across Michigan between January 2012 and June 2018. The information comes from the Michigan Surgical Quality Collaborative, a collaboration between hospitals and Blue Cross/Blue Shield of Michigan that focuses on surgical care quality improvement. The increasing number of surgical procedures creates a demand for microsurgical robots. An increase in demand for laparoscopic surgeries is likely to encourage developments in the microsurgical robot market. For example, Genesis MedTech, a medical equipment business, announced the launch of revolutionary laparoscopic technologies in Singapore and China in April 2021. This technique enables doctors to adopt minimally invasive procedures instead of open surgical procedures in complex operations, reducing risk to patients and improving recovery time. A rise in the geriatric population is another factor adding to the demand for minimally invasive surgeries. Elderly individuals are more susceptible to chronic diseases, and their bodies are not strong enough to survive complicated open surgeries. Therefore, the rising demand for minimally invasive surgeries due to the staggering prevalence of chronic medical conditions and the rising number of surgical procedures drives the growth of micro-surgical robot market. This is expected to drive the market during the forecast period.
On the contrary, increased cost of micro-surgical robots hurdles the growth of Asia Pacific micro-surgical robot market.
Based on component type, the Asia Pacific micro-surgical robot market is divided into instruments and accessories. The instruments micro-surgical robot segment held 63.8% market share in 2022, amassing US$ 156.36 million. It is projected to garner US$ 376.04 million by 2028 to expand at 13.4% CAGR during 2022–2028.
Based on application type, the Asia Pacific micro-surgical robot market is categorized into urology surgery, plastic reconstructive surgery, ophthalmic surgery, neurosurgery, lymphatic surgery, ENT surgery, and other. The urology surgery segment held 26.9% market share in 2022, amassing US$ 65.97 million. It is projected to garner US$ 182.14 million by 2028 to expand at 15.6% CAGR during 2022–2028.
Based on end user, the Asia Pacific micro-surgical robot market is categorized into hospitals and clinics, ambulatory surgical centers, research institutes, and others. The hospitals and clinics segment held 51.2% market share in 2022, amassing US$ 125.66 million. It is projected to garner US$ 308.44 million by 2028 to expand at 13.7% CAGR during 2022–2028.
Based on country, the Asia Pacific micro-surgical robot market has been categorized into the China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Our regional analysis states that China captured 36.2% market share in 2022. It was assessed at US$ 88.68 million in 2022 and is likely to hit US$ 220.30 million by 2028, exhibiting a CAGR of 13.9% during the forecast period.
Key players dominating the Asia Pacific micro-surgical robot market are Microsure B.V; Stryker Corporation; Intuitive Surgical; Medtronic; Ethicon (Johnson & Johnson Services, Inc.); Asensus Surgical, Inc.; and Zimmer Biomet among others.
- In May 2022, Ethicon’s MONARCH Endoscopic Robotic Platform Receives FDA 510(k) Clearance for Urology Procedures.
- In May 2021, Asensus Surgical Wins Best Medical Device Product at MedTech Breakthrough Awards.
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