PUBLISHER: Grand View Research | PRODUCT CODE: 1363292
PUBLISHER: Grand View Research | PRODUCT CODE: 1363292
The global robot-assisted endoscope market size is expected to reach USD 2.36 billion by 2030, registering a CAGR of 8.2% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Age-related medical disorders requiring endoscopic operations are more prevalent as a result of the world's aging population. Endoscopes with robotic assistance assist in overcoming the difficulties of complex procedures on elderly people. Due to their advantages, such as less trauma, shorter hospital stays, and quicker recovery times, minimally invasive surgical methods have become increasingly popular. Surgeons can carry out intricate treatments with more precision and through smaller incisions with the help of robot-assisted endoscopes.
Factors, such as the demand for minimally invasive surgical (MIS) treatments, new product approvals by regulatory bodies like the U.S. FDA, and the prevalence of chronic illnesses are boosting the market growth. Moreover, the increasing collaboration activities among key players for the development of laparoscopy instruments drive market growth. For instance, in February 2021, Asensus Surgical Inc. and the Amsterdam Skills Centre, Netherlands partnered to create a second European Surgical Training Site for Senhance Digital Laparoscopy. The use of this robotic system in general surgery, including endoscopic operations, is recommended. Thus, it is anticipated that the market in this region will rise at a faster rate during the projected period as a result of the rising prevalence of bowel disorders, the growing elderly population, and the presence of major players with ongoing product advancements.
To prioritize COVID-19 patients and lower the danger of transmission during the pandemic, several healthcare facilities put off elective operations. The lack of urgent endoscopic treatments temporarily decreased the demand for robot-assisted endoscopes. To shorten hospital stays and lower the danger of infection, there was a growing emphasis on adopting minimally invasive surgical methods. As robot-assisted endoscopes provide advantages in terms of smaller incisions and quicker recovery times, this shift in desire may have had a favorable impact on their uptake. The COVID-19 pandemic raised attention to the value of cutting-edge medical technologies and sped up research and development initiatives within the healthcare sector. System improvements for robot-assisted endoscopy may have resulted from this greater emphasis on innovation and technology.
In addition, the market growth is driven by an increase in the number of mergers & acquisitions in the healthcare sector as well as significant investments for its improvement. In May 2022, Creo Medical Group, a significant manufacturer of medical devices, signed a long-term partnership agreement with Intuitive, a leader in robotic surgery and a global pioneer in less-invasive care, to promote compatibility among Creo surgery technology and therapeutic robotic systems. Patients will have more state-of-the-art treatment options due to the combination of Creo's Kamaptive technology and Intuitive's robotic platform. On the other hand, the market growth is likely to be hampered by the high cost of endoscopic treatments and a shortage of qualified personnel. The market will be challenged by a scarcity of qualified workers and a lack of healthcare facilities in developing nations.