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. High demand for endoscopy for diagnosis and treatment of target diseases, in addition to rising investments, grants, and funds by governments and global organizations for healthcare infrastructure improvement, and availability of new products and devices equipped with advanced technologies are some of the key factors driving market revenue growth.
The research report provides an in-depth evaluation of the Global Robotic Endoscopy Devices market drivers and restraints Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
Moreover, flexible movement of robotic arm coupled with better 3D visualization for imaging are other key factors driving demand for robotic endoscopy devices. Growing preference for minimal invasive surgeries, owing to various benefits such as less scaring, less painful, reduced blood loss, and shorter hospital stays, are contributing to revenue growth of the market. Implementation of Artificial Intelligence (AI) and deep learning technologies offer standardization of endoscopic examination, easy detection, and characterization of Gastrointestinal (GI) pathology.
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For instance, Cerebro, which is a standardized AI-driven protocol for endoscopic examination, is designed to provide enhanced surveillance and screening as per standard protocols. Furthermore, Cerebro is expected to ensure highest sensitivity and specificity for highest quality of endoscopic procedure. ENDOANGEL and EndoBRAIN are examples for increased application of AI detection, which is increasing demand for therapeutic endoscopy as well. For instance, as per an analysis done by Brain and Spine from September 2019 to September 2020, around 4,176 patients were observed and their daily surgical adverse events were recorded. It was observed that 25% of patients had at least one adverse effect daily and major adverse events were associated with HPD (Human Performance Deficiencies) mostly due to execution, planning, and casual errors like usage of unsterilized surgical equipment causing infection by surgeons. To reduce human errors, hospitals and health organizations are adopting surgical robots as these help in improving the efficiency of surgery and decreases the rate of unintentional damage caused by surgeons.
However, bulky size of equipment requires caution when handling and performing procedure. High cost of technology, and lack of skilled medical professionals to operate such devices are factors expected to restrain growth of the market.
Some Key Highlights From the Report
- Surgical segment accounted for significantly large revenue share in 2021. Increasing demand for minimally invasive endoscopic surgeries owing to faster recovery time and shorter hospital stays is one of the major factors driving growth of this segment. Major companies investing in development of advanced technologies for surgical devices as well as emergence of medtech startups are key factors contributing to revenue growth of this segment. On 22 April 2022, Agile Robots, which is an intelligent robotics developer, secured a financing round of USD 30 million led by Foxconn Industrial Internet. Core products of Agile Robot includes 7-DOF lightweight robotic arm, a robot vision system, and robot controllers, among others.
- Laparoscopy segment accounted for largest revenue share in 2021. Increasing demand for minimally invasive surgery is a key factor driving growth of this segment. Rising prevalence of chronic diseases coupled with increasing number of elderly individuals and large patient pool, especially in highly populated countries such as China and India, are driving demand for laparoscopic procedures. Robotic surgery offers monitors which provide a 3-D high resolution and magnified image of the inside of the body. Better visualization enables surgeons to have better control over the surgical instruments during procedures. Various technological advancements in laparoscopy is another factor expected to drive revenue growth of this segment.
- Hospitals segment accounted for significantly large revenue share in 2021. Hospitals are equipped with well-resourced surgical and operating rooms, have skilled healthcare professions, and availability of various healthcare coverage and benefits and services are some of the key factors driving growth of this segment. Furthermore, high investments for healthcare infrastructure, especially in developed countries, in addition to rapid adoption of robotic endoscopy devices for surgical procedures are contributing significantly to growth of the hospitals segment.
- Robotic endoscopy devices market in North America accounted for largest revenue share in 2021. Rapid adoption of advanced technologies in medical sector and high value investments for research and development are some of the key factors driving market growth in region. Presence of various major companies such as Johnson Johnson, Abbott, Medtronic, and Strkyer, among others, is contributing significantly to revenue growth of the market. High financial capability of hospitals for investments in robotic endoscopic devices and rising awareness about robot-assisted surgeries are some of the major factors contributing to the growth of the market in the region.
- 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.
- On 17 May 2022, Labcorp launched an at-home collection kit from Weavr Health which measures HbA1c from a small blood sample. Diagnostic device is offered through Labcorp OnDemand platform. Test utilizes dried blood technology to offer snapshot of average blood sugar levels. Samples collected with the Weavr Velvet device demonstrated 97% accuracy compared to traditional procedures. The device is designed to enable safe and efficient testing with easy access and better control of health.
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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)
- Surgical
- Diagnostic
- Application Outlook (Revenue, USD Million; 2019-2030)
- Laparoscopy
- Colonoscopy
- Bronchoscopy
- Others
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Ambulatory surgical centers
- Hospitals
- Others
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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