PUBLISHER: The Business Research Company | PRODUCT CODE: 1428411
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428411
Robotic endoscopy devices refer to advanced medical instruments that integrate robotics technology with the capabilities of flexible endoscopy procedures to enhance precision and automation. These devices are utilized for examining the interior of organs or body cavities, primarily for diagnostic purposes.
The primary types of robotic endoscopy device products include diagnostic and therapeutic devices. Diagnostic endoscopy devices are employed in procedures where an endoscope is inserted into the body through natural openings or small incisions, enabling doctors to directly visualize and assess the affected area. Various applications of these devices include colonoscopy, bronchoscopy, laparoscopy, gastrointestinal endoscopy, and others. They are typically used in settings such as hospitals, ambulatory surgical centers, and other medical facilities.
The robotic endoscopy devices market research report is one of a series of new reports from The Business Research Company that provides robotic endoscopy devices market statistics, including robotic endoscopy devices industry global market size, regional shares, competitors with a robotic endoscopy devices market share, detailed robotic endoscopy devices market segments, market trends and opportunities, and any further data you may need to thrive in the robotic endoscopy devices industry. This robotic endoscopy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The robotic endoscopy devices market size has grown rapidly in recent years. It will grow from $2.14 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The expansion during the historical period can be attributed to the aging population, an increasing demand for minimally invasive procedures, rising awareness of early disease detection, regulatory approvals, and the growing prevalence of gastrointestinal disorders.
The robotic endoscopy devices market size is expected to see rapid growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth in the forecast period can be attributed to the expansion of robotic surgery applications, the rising demand for remote surgery capabilities, increasing healthcare expenditure, growing adoption of endoscopic procedures, and a surge in the global patient base for endoscopy. Key trends expected in the forecast period include the development of flexible robotic endoscopy devices, the integration of machine learning in endoscopic diagnostics, the emergence of capsule endoscopy technology, a focus on disposable endoscopy devices, and an increasing use of robotics in therapeutic endoscopy.
The projected increase in robotic surgery procedures is poised to drive the growth of the robotic endoscopy device market. Robotic surgery, an advanced technique utilizing robotic systems to assist surgeons during procedures, finds extensive application in endoscopy. These robotic devices enhance maneuverability and efficiency, simplifying intricate processes by improving visualization, exposure, and tissue manipulation. Notably, in January 2022, Intuitive, a US-based robotic surgery company, reported a 28% increase in the total number of surgical procedures performed using its Da Vinci robotic surgery systems, reaching 1,594,000 procedures in 2021 compared to 1,243,000 procedures in 2020. This surge in robotic surgery procedures is a key driver propelling the robotic endoscopy device market.
The rising prevalence of chronic diseases, particularly inflammatory bowel disease (IBD), is anticipated to fuel the growth of the robotic endoscopy devices market. IBD, characterized by chronic inflammation affecting the gastrointestinal tract, necessitates endoscopic procedures for evaluation, therapy planning, and ongoing monitoring. As of January 2022, Crohn's & Colitis Australia estimated that approximately 100,000 to 160,000 people in Australia are expected to be living with ulcerative colitis and Crohn's disease. The increasing incidence of chronic diseases, such as IBD, is a significant factor contributing to the expansion of the robotic endoscopy devices market.
Innovations in products stand out as a prominent trend in the robotic endoscopy device market, with major companies introducing advanced technologies to maintain their market positions. A notable example is Virtuoso Surgical, a US-based manufacturer, launching a new robotic surgery system in May 2023. This revolutionary technology enables surgeons to make dexterous movements at the end of an endoscope using two hands. The system features a rigid endoscope tip with two robotically operated, needle-sized manipulators, significantly reducing the diameter compared to conventional robotic endoscopes.
Major players in the robotic endoscopy device market are adopting a strategic partnership approach to enhance their Revo-i surgical robot. Strategic partnerships involve leveraging strengths and resources for mutual benefits and success. In November 2022, meerecompany, a South Korea-based surgical robot manufacturing company, announced a partnership with the Robot Endoscopy Surgery Center at Severance Hospital in South Korea. The collaboration aims to allow medical professionals to experience the Revo-i systematic training and education program physically. This partnership includes the founding and operation of the Revo-i surgical robot learning and support center, the development and supervision of the Revo-i surgical robot training and education program, and product assessment and education for enhancing medical device functionality.
In April 2023, Boston Scientific, a US-based biomedical engineering company, acquired Apollo Endosurgery for $615 million. This strategic acquisition aligns with Boston Scientific's objectives to enhance its product offerings in endoluminal surgery procedures and endo-bariatric solutions. Apollo Endosurgery, a US-based manufacturer of endoscopy devices and solutions, complements Boston Scientific's expansion plans in the endoscopy market.
Major companies operating in the robotic endoscopy devices market report are Johnson & Johnson Services Inc., Medtronic PLC, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Carl Zeiss AG, Olympus Corporation, HOYA Corporation, Intuitive Surgical Inc., Smith + Nephew GmbH, Arthrex Inc., ENDO Robotics Co Ltd., Karl Storz SE & Co. KG, Auris Health Inc., Cantel Medical Corp., ConMed Corporation, Ambu A/S, Richard Wolf GmbH, Brainlab AG, Renishaw plc., Fortimedix Surgical B.V., CapsoVision Inc., Asensus Surgical Inc., Medrobotics Corporation, EndoMaster Pte Ltd., Ovesco Endoscopy AG, Medineering GmbH, Virtuoso Surgical Inc., Gray Optics Co
North America was the largest region in the robotic endoscopy devices market in 2023. The regions covered in the robotic endoscopy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the robotic endoscopy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The robotic endoscopy devices market consists of sales of continuum endoscopes, capsule endoscopes, and add-on endoscopic devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Robotic Endoscopy Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on robotic endoscopy devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for robotic endoscopy devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The robotic endoscopy devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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