Rise in the prevalence of chronic health issues among global population is anticipated to boost business prospects in the global microsurgery robot market, according to researchers at Transparency Market Research (TMR). The study by TMR provides complete analysis of prominent factors such as growth opportunities, challenges, R&D activities, regional analysis, and competition landscape of the market for microsurgery robot.
Robotic microsurgery refers to surgery type that helps in easy penetration of surgical equipment with minimum incisions. Rise in the adoption of this technology across numerous healthcare organizations globally is resulting into sales growth in the microsurgery robot market.
Microsurgery robots are being increasingly used to perform complicated surgeries needed for numerous health issues including gynecological and urological disorders. Hence, rise in the prevalence of urological and gynecological among people from around the world is leading to ample sales opportunities in the global microsurgery robot market.
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Increase in Patient Inclination toward Non-invasive Surgeries Drives Market Sales
In the recent years, patient population from across the globe is inclining toward minimally invasive or non-invasive surgical procedures. This factor is fueling the demand for microsurgery robots. This, in turn, is creating lucrative avenues for players in the global microsurgery robot market.
Over the period of recent few years, there is rise in awareness about microsurgery robots and their advantages among healthcare professionals as well as patient population globally. This factor is favoring the overall growth of the global microsurgery robot market.
Surgical procedures performed with microsurgery robots are increasingly being adopted globally owing to less possibilities of post-operative complications. Moreover, the recovery time needed for such surgeries seems to be less in comparison to the traditional techniques. As a result, the hospital stay of patients is decreased. On the back of these advantages, the microsurgery robot market is prognosticated to attract sizable revenue gains in the near future.
Miniaturization of medical robots is considered as one of the leading technological advancements in the healthcare devices manufacturing. Such innovations are bolstering the growth curve of the global microsurgery robot market.
Microsurgery robots are being increasingly adopted for performing different delicate and complicated surgeries owing the ability of these robots to offer high level of precision. Hence, surge in number of complicated surgeries is estimated to drive the demand prospects in the microsurgery robot market in the upcoming years, according to a report by TMR.
Players Focus on Regional Expansions and Technological Advancements
Companies operating in the global microsurgery robot market are focusing on expansion of their regional presence. Hence, they are seen entering into collaboration agreements with regional distributors. Several players in the market for microsurgery robot are incorporating technological advancements such as artificial intelligence in order to improve the efficiency of their products.
Many microsurgery robot manufacturers are allotting considerable amount of investments in R&D activities. These efforts are helping them in advancing the quality of products they offer. Some of the important players operating in the global microsurgery robot market include Mazor Robotics, Intuitive Surgical, Zimmer Biomet, Smith & Nephew, Stryker, Corindus, and Medtronic Plc.
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North America Gains Leading Position in Market for Microsurgery Robot
North America accounts for major share in the microsurgery robot market with the U.S. as a key growth contributor in the region. This market growth is ascribed to factors such as improved spending power of consumers that allows them to opt for advanced robotic surgeries.
The microsurgery robot market in Asia Pacific is projected to expand due to rise in R&D projects pertaining to microsurgery robots. Furthermore, India is anticipated to offer sizable business prospects owing to increasing prevalence of different chronic health disorders and improving healthcare infrastructure in the nation.