The global endoscopic robotics market size is expected to reach USD 4.91 Billion in 2030 and register a steady revenue CAGR of 12.5% over the forecast period, according to the latest report by Reports and Data. Increasing geriatric population, rising prevalence of obesity and diabetes, new product launches with advanced technologies and preference for minimally invasive procedures, high demand for endoscopy for diagnosis and treatment of target disease, and availability of new products and devices equipped with advanced technologies are major factors driving market revenue growth.
Prevalence of Non-Communicable Diseases (NCDs) and chronic illnesses (such as Gastroesophageal Reflux Disease (GERD), pancreatic cancer, and others) is on rise across all age groups owing to poor dietary and physical activities. According to IFFGD study for 2021, around 10%–15% of overall population is affected by irritable bowel syndrome worldwide, which includes 25–45 million individuals who are affected by this disease in the U.S. As a result, there is a greater need for high-end technology in endoscopy for effective treatment, which is expected to drive market revenue growth during the forecast period.
Endoscopes can be used in novel ways with the help of robotics to minimize damage to digestive tract. Endoscopy of upper gastrointestinal tract is commonly used to treat various illnesses. Annual number of gastrointestinal procedures performed in the U.S. is greater than 57.43 million. In addition, gastrointestinal endoscopy represents the largest market sector, making for roughly 56% of overall volume of procedures. Improved interventional skills for surgeons and freedom from limitations of minimally invasive surgery are the primary goals of computer and robot-assisted operations. Numerous robotic endoscopic devices are now being developed or have already been created and majority of these devices are intended for therapeutic use. While, as reported by Annual Minimally Invasive Surgery Symposium (MISS), over 650,000 cases of robotic general surgery are performed in the U.S. annually.
Moreover, market revenue growth is also driven by increasing prevalence of chronic diseases and number of older people who require treatment for various disorders. According to the World Health Organization (WHO), Non-Communicable Diseases (NCDs) account for around 71% of all fatalities worldwide. Fifteen million people die every year from noncommunicable diseases, most of them between ages of 30 and 69, and roughly 85% of these fatalities occur in low- and moderate-income countries. Furthermore, increasing number of acquisitions and mergers in the healthcare industry, as well as high investments for its enhancement, are also driving market revenue growth.
However, decrease in number of endoscopic procedures during COVID-19 pandemic is a major factor restraining market revenue growth. Several endoscopic facilities have canceled or postponed elective and semi-urgent procedures, due to the risk of cross-contamination and chance of SARS-CoV-2 transmission, which is also restraining market revenue growth.
Companies profiled in the global market report include Olympus Corporation., Intuitive Surgical, Brainlab AG, Asensus Surgical US, Inc., CMR Surgical Ltd., Avateramedical GmbH, Medtronic, B. Braun SE, Boston Scientific Corporation, and AKTORmed GmbH.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2022-2030. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Endoscopic Robotics Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Endoscopic Robotics Market.
Further key findings from the report suggest,
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For the purpose of this report, Reports and Data has segmented the global endoscopic robotics market based on approach, application, end-use, and region:
Approach Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2032)
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Conclusively, all aspects of the Endoscopic Robotics Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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