North America Microsurgery Robot Market Share Current and Future Industry Trends, 2021-2027

Market Study Report presents latest report on North America Microsurgery Robot Market, which evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2021-2027.

North America Microsurgery Robot Market to exceed USD 1.2 Billion By 2027. Technological advancements in microsurgery robot will escalate the market expansion. Developments in this industry have enabled microsurgery robots to deliver accurate and fast results. High throughput capacity assists in substantial epidemiological data generation from individuals. This has significantly advanced patient management owing to automation of surgical procedures, boosting the market growth. Medical device companies are collaborating to develop innovative microsurgery robots. This lead to increased accessibility of advanced robots and also minimized the product costs. For instance, Johnson and Johnson announced collaboration with Google Life Sciences’ subsidiary, named Verily Life Sciences and developed advanced robotics, instrumentation and visualization in their products. Such factors will enhance the market growth over the analysis period.

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Based on application, the North America microsurgery robot market is segmented into ureterorenoscopy, neurovascular surgery, ENT surgery, neurovascular surgery, reconstructive surgery, obstetrics and gynecology surgery, urology surgery, ophthalmology surgery, micro anastomosis, gastrointestinal surgery, oncology surgery, and others. Amongst them, the obstetrics and gynecology segment held more than USD 70 million in 2020. Introduction of robot-assistance in the field of gynecological surgeries including hysterectomy, abdominal myomectomy, radical hysterectomy, lymph node dissections, and sacrocolpopexies will augment the segment growth. In February 2018, Medrobotics Corp., announced the U.S. FDA regulatory clearance for Flex Robotic System. This system is useful in gynecological and thoracic procedures across the U.S. Also, surging patient preference towards robotic approach to overcome limitations of conventional suture-intensive gynecological surgeries fostering the microsurgery robot market progression.

Based on end-use, the North America microsurgery robot market is divided into hospitals and clinics, research institutes, ambulatory surgical centers, and others. The ambulatory surgical centers segment captured over 32% market share in 2020. Ambulatory surgical centers offer cost effective treatment options, surging its preference. Increasing adoption rate of microsurgery robot in ambulatory surgical centers for providing minimal invasive surgery and enhanced patient care and comfort will boost the segmental growth. Various advantages such as improved and better treatment options in supervision of highly trained specialists in ambulatory surgical center will escalate the segmental progression.

U.S. microsurgery robot market is projected to experience around 13.6% CAGR during the analysis period. Availability of advanced healthcare facilities in hospitals and clinics will lead to rising adoption of microsurgery robot for improved diagnosis of diseases that will be beneficial for market growth. Escalating number of chronic disorders across the U.S. is one of the major factor in microsurgery robot market. Availability of R&D funding in microsurgery robot and increasing adoption of surgical robot for several surgeries across the U.S. will spur the market demand.

Some of the well-known business players functioning in the North America microsurgery robot market are Zimmer Biomet, Stryker, Corindus Inc (Siemens Healthineers), Auris Health (Johnson & Johnson), Meerecompany, Medtronic, TransEnterix Surgical, Smith & Nephew, Titan Medical, Intuitive Surgical, and Medrobotics Corporation. These well-known industry players have undertaken growth strategies for maintaining strong foothold in microsurgery robot market. For instance, in July 2020, Smith & Nephew launched hand-held robotic platform for surgery of knee replacement. This strategy assists the company in enhancing its overall market share.

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