The micro-surgical robot market is expected to grow from US$ 1,280.81 million in 2022 to US$ 2,817.57 million by 2028; it is expected to grow with a CAGR of 11.9% from 2022 to 2028.
Micro-surgical robots are used to perform microsurgeries, i.e., intracorporal and extracorporeal surgical procedures. Robots can assist in performing a complex surgical procedures more flexibly and precisely, which is possible with conventional techniques. Micro-surgical robots perform minimally invasive surgical procedures with tiny incisions. The advantages of micro-surgical robots are fewer complications, small scars, less blood loss, and quicker recovery. The increasing popularity of minimally invasive surgical procedures, and the advantages of robotic surgeries in terms of accuracy, repeatability, control, and efficiency fuel the global micro-surgical robot market growth. However, the high cost of micro-surgical robots and unfavorable reimbursement scenarios in different countries are hampering the market growth.
The report offers insights and in-depth analysis of the global micro-surgical robot market, emphasizing parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis focused on leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. Many health authorities recommended avoiding human contact due to growing transmission and strain on healthcare resources by postponing elective surgeries, suspending out-patient clinics, and triaging employees involved in urgent care. Robotic surgeries utilize artificial intelligence (AI), which benefits through three aspects: increasing accuracy and reducing the risk of failure by providing shared and complete autonomy in simple tasks; allowing physical distancing by changing the surgeon’s role from executive to supervisory and from continuous control personnel to intermittent control personnel; and increasing the average number of surgical procedures, which will be required to address the backlogged surgeries caused by the shutdown of elective surgeries over a long period. Thus, the global micro-surgical robot market experienced a positive impact post the first wave of COVID-19.
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Micro-Surgical Robot Market: Strategic Insights
Market Size Value in US$ 1,280.81 Million in 2022 Market Size Value by US$ 2,817.57 Million by 2028 Growth rate CAGR of 11.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Micro-Surgical Robot Market: Strategic Insights
| Market Size Value in | US$ 1,280.81 Million in 2022 |
| Market Size Value by | US$ 2,817.57 Million by 2028 |
| Growth rate | CAGR of 11.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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The global micro-surgical robot market is segmented on the basis of component, application, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Lucrative Regions for Global Micro-Surgical Robot Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Advantages of Robotic Surgeries in Terms of Accuracy, Repeatability, Control, and Efficiency
Advantages of Robotic Surgeries in Terms of Accuracy, Repeatability, Control, and Efficiency
The introduction of robotic surgery is the most recent advancement in liposuction. A surgeon controls the treatments from a master console, while the robotic patient cart performs the procedures more easily and precisely than laparoscopic systems. Owing to its 3D vision and accuracy, and intuitive multi-range instruments, robotic surgery has distinct advantages in liposuction procedures over traditional laparoscopic surgeries, ensuring greater patient safety. Robotic surgeries also aid in the improvement of suturing abilities, and reduction in post-operative pain and recovery time. Robotically aided liposuction is also recommended for obese individuals weighing more than 250 kg, as laparoscopic liposuction is more demanding and difficult. As per an article - “Comparison of surgical outcomes between integrated robotic and conventional laparoscopic surgery for distal gastrectomy: a propensity score matching analysis”, published in 2020, the surgical success rate in the integrated robotic distal gastrectomy (IRDG) group was 98%, significantly higher than the success rate in conventional laparoscopic distal gastrectomy (CLDG) group, i.e., 89.5%. Although both groups had similar rates of in-patient and out-patient problems, the readmission rate of the IRDG group was much lower than the CLDG group. Further, robotic surgeries aid better visualization capabilities, providing surgeons a better view of the work area and allowing them to see microscopic details using high-definition cameras. These systems have more dexterity than the human hand, and their ability to rotate 360° and navigate better allows surgeons to reach hard-to-access areas. A team of researchers has combined a nitrogen-powered arm (as a fifth robotic arm) with an optical magnification video lens system (Point-Setter arm and VITOM lens from Karl Storz, Tuttlingen, Germany) to develop a robotic platform for extracorporeal robotic microsurgical treatments. The VITOM is an HD exoscopic video system with optical lenses used for spine surgery and pediatric surgery. The optical magnification in the system ranges from 16× to 25×. The microsurgeon can view the image from the VITOM system just below the main 3D robot camera view using the TilePro imaging software in the surgeon interface. Thus, robotic microsurgeries ensure greater accuracy, repeatability, control, and efficiency. In line with the growing desire for better and faster healthcare services, these benefits of micro-surgical robots propel the market growth.
Component-Based Insights
Based on component, the global micro-surgical robot market is bifurcated into instruments and accessories. In 2022, the instruments segment is expected to have a larger market share. The market for this segment is estimated to grow at a faster CAGR during the forecast period.
Global Micro-Surgical Robot Market, by Component – during 2022-2028
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-Based Insights
Based on application, the micro-surgical robot market is segmented into plastic reconstructive surgery, ENT surgery, urology surgery, neurosurgery, ophthalmic surgery, lymphatic surgery, and others. In 2022, the urology surgery segment is estimated to account for the largest share of the market. The same segment is expected to register the highest CAGR from 2022 to 2028.
End User-Based Insights
Based on end user, the micro-surgical robot market is segmented into hospitals & clinics,ambulatory surgical centers, research institutes, and others. In 2022, the hospitals and clinics segment is expected to hold the largest share of the market. The same segment is expected to register the highest CAGR from 2022 to 2028. The growth of the micro-surgical robots market for the hospitals & clinics segment is attributed to the rise in number of surgical procedures and the adoption of advanced equipment in these facilities.
The micro-surgical robot market players adopt organic strategies such as product launch and expansion to expand their global footprint and product portfolio, and meet the growing demand. For example, in May 2022, MMI S.p.A. announced the launch of its Symani Surgical System Simulator, developed by VirtaMed.
Geography-Based Insights
By geography, the global micro-surgical robot market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The micro-surgical robot market in Europe is sub-segmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The APAC micro-surgical robot market is sub-segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The micro-surgical robot market in South & Central America is sub-segmented into Brazil, Argentina, and the Rest of SAM
Major Companies
MMI S.p.A.; Microsure B.V.; Stryker Corporation; Intuitive Surgical, Inc.; Medtronic; Galen Robotics, Inc.; Ethicon (Johnson & Johnson Services, Inc.); Asensus Surgical, Inc.; Zimmer Biomet; Titan Medical Inc.; and ForSight Robotics LTD are among the leading companies operating in the global micro-surgical robot market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Micro-Surgical robot are used to perform microsurgeries i.e. intracorporal and extracorporeal Surgical procedures. Robots can assist in performing complex surgical procedure in more flexible and precise manner which cannot be possible with conventional techniques. Micro- surgical robot perform minimally invasive surgical procedures with tiny incisions. The advantages of micro-surgical robot are, fewer complications, small scars, less blood loss and quicker recovery.
Key factors that are driving the growth of this market are the increasing popularity of minimally invasive surgical procedures and advantages of robotic surgeries in terms of accuracy, repeatability, control, and efficiency boost the microsurgical robot market growth.
The CAGR value of the microsurgical robot market during the forecasted period of 2022–2028 is 11.9%.
The instruments segment is likely to be hold a larger market share in 2022 and is expected to continue its dominance during the forecast period. Moreover, the same segment is expected to register a higher CAGR during the forecast period. Major factors driving the market growth for the instruments segment are continuous evolution in the instruments.
In 2022, the urology surgery is likely to be hold the largest share of the market, by application. It is expected to report a higher CAGR of 14.3% during 2022–2028.
The microsurgical robot market majorly consists of players such as MMI S.p.A.; Microsure B.V.; Stryker Corporation; Intuitive Surgical, Inc.; Medtronic; Galen Robotics, Inc.; Ethicon (Johnson & Johnson Services, Inc.); Asensus Surgical, Inc.; Zimmer Biomet; Titan Medical Inc.; ForSight Robotics LTD.
The List of Companies - Micro-Surgical Robot Market
- MMI S.p.A.
- Microsure B.V.
- Stryker Corporation
- Intuitive Surgical, Inc.
- Medtronic
- Galen Robotics, Inc.
- Ethicon (Johnson & Johnson Services, Inc.)
- Asensus Surgical, Inc.
- Zimmer Biomet
- Titan Medical Inc.
- ForSight Robotics LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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