Robot-assisted Endoscope Market to Grow with a CAGR of 7.78% through 2028
The rising prevalence of chronic diseases and patient
demand for minimally invasive procedures is expected to drive the Global Robot-assisted
Endoscope Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Robot-assisted
Endoscope Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Robot-assisted Endoscope Market
stood at USD 1.19 billion in 2022 and is anticipated to grow with a CAGR of 7.78%
in the forecast period, 2024-2028. This can be attributed to the rising
prevalence of chronic diseases. The global increase in the prevalence of
chronic diseases, such as cancer and gastrointestinal disorders, has been a
significant driver of growth in the robot-assisted endoscope market. These
conditions often require regular and precise monitoring, early diagnosis, and
minimally invasive treatments. Robot-assisted endoscopy offers a highly
effective means of managing and treating such diseases, which has led to an
upsurge in demand for these systems.
Moreover, as the benefits of robot-assisted endoscopy
become increasingly recognized, we can anticipate its expansion into regions
that have historically lacked access to advanced medical technologies. The
globalization of this market will bridge healthcare disparities and offer
patients around the world access to state-of-the-art medical procedures.
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The market is experiencing significant growth due to
the rising prevalence of chronic illnesses such as pancreatic cancer,
inflammatory bowel disease, and gastroesophageal reflux disease (GERD) across
various age groups, largely stemming from unhealthy lifestyles. For example, in
February 2021, the International Foundation for Gastrointestinal Disorders
(IFFGD) reported that between 10% and 15% of the global population was affected
by irritable bowel syndrome (IBS) at that time. According to reports published
by the Centers for Disease Control and Prevention in April 2022, 3.1 million
elderly individuals in the United States were dealing with IBS. Robotic
endoscopy has proven to be a safe and effective tool, enhancing clinical and
surgical outcomes for patients with inflammatory bowel disease (IBD). The
benefits of robotic endoscopy in diagnosing conditions like irritable bowel
syndrome and inflammatory bowel syndrome are expected to drive demand and
accelerate market growth.
Furthermore, increased investments in the
technological advancement of endoscopic visualization systems by various market
participants are anticipated to fuel market expansion over the projected
period. For instance, in September 2022, Virtuoso Surgical committed twenty
million dollars in funding for the development of endoscopic surgery robots,
covering a range of surgeries including endoscopic neurosurgery, uterine
fibroids, enlarged prostates, bladder cancer, and central airway blockage
removal.
However, it's important to note that the market's
growth may face constraints in the projected timeframe due to the relatively
high cost of surgical endoscopic procedures, challenging payment structures,
and stringent regulatory reforms. The market for robotic endoscopic devices
experienced significant setbacks during the COVID-19 pandemic. Global lockdowns
severely impacted the diagnostics and imaging sector, leading to reduced public
mobility. Non-urgent diagnostic procedures and screening programs were postponed,
alleviating pressure on the healthcare system. For example, by January 2021,
the COVID-19 pandemic had caused a backlog of approximately half a million
endoscopic procedures necessary for the detection of gastrointestinal tumors
and disorders, as reported by University College London in March 2021. In the
UK, more than 90% fewer endoscopies were performed during the lockdown. The
severe lockdown measures resulted in a substantial reduction in endoscopic
procedures, significantly affecting market expansion.
Nevertheless, as lockdowns eased in most countries,
both robotic and traditional endoscopic procedures gained momentum.
Furthermore, regulatory approvals for various robotic endoscopic platforms are
driving market growth. In May 2022, the U.S. FDA granted 510(k) clearance to
Auris Health, Inc., an affiliate of Johnson & Johnson MedTech company
Ethicon, Inc., for use in endourological treatments. This clearance allowed
MONARCH to become the first and only multispecialty, adaptable robotic device
suitable for bronchoscopy and urology procedures. Its purpose is to facilitate
urologists' precise and safe access to specific regions of the kidney.
The Global Robot-assisted Endoscope Market is
segmented into end-use, regional distribution, and company.
Based on its end-use, the outpatient facilities sector
held a dominant position in the market during 2022. This sector comprises day
surgery clinics and ambulatory surgery centers (ASCs), which have increasingly
incorporated robot-assisted endoscopes into their medical procedures.
Outpatient facilities are committed to providing patients with convenient and
efficient healthcare. They prioritize minimally invasive procedures whenever
feasible in order to align with the overarching objective of achieving less
invasive diagnostic and treatment alternatives through the use of
robot-assisted endoscopes.
Robot-assisted endoscopes are particularly attractive
for outpatient environments because they frequently result in shorter recovery
and surgery times. Moreover, this segment is projected to experience the
highest CAGR from 2023 to 2030. Robot-assisted endoscopes can help reduce the
need for more complex surgical procedures and shorten hospital stays, thereby
offering a cost-effective solution for outpatient facilities. Given the
increasing prevalence of gastrointestinal disorders and other conditions requiring
endoscopic procedures, outpatient facilities are likely to experience growing
demand for such treatments. Robotic endoscopes are well-suited to effectively
meet this rising demand.
Based on region, the North American region asserted
its dominance in the global market. This was facilitated by several key
factors: the well-established healthcare industry, the financial capacity of
hospitals to invest in robotic endoscopy equipment, heightened public awareness
of robot-assisted medical procedures, and the substantial presence of major
market players in the region. Additionally, the market experienced growth due
to the increasing number of clinical trials related to robot-assisted endoscopes.
For example, in December 2022, the first patient was enrolled in the Extend URO
clinical study for the Hugo robotic surgical assistance in the United States,
as reported by Medtronic plc, a prominent global healthcare technology company.
Looking ahead, the Asia Pacific region
is anticipated to register the highest CAGR during the forecast period. This
regional demand is expected to be driven by factors such as increased
disposable income, rising healthcare expenditures, and the prevalence of
chronic illnesses. Furthermore, the growing adoption of robotic systems in
healthcare facilities is projected to fuel the demand. Additionally, increased
investment in cutting-edge medical technologies and procedures, including
robotic-assisted endoscopies, has been spurred by the escalating healthcare
spending in countries like China and India.
Major companies operating in Global Robot-assisted
Endoscope Market are:
- Asensus Surgical Inc
- Intuitive Surgical Inc
- Auris Health Inc
- Johnson & Johnson
- Brainlab AG
- Medtronic PLC
- Boston Scientific Corp
- Stryker Corp
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“The global robot-assisted endoscope market is on the
cusp of transformative change. The upcoming trends in telemedicine, AI
integration, miniaturization, single-port and multi-arm systems, AR and VR
technologies, global expansion, and patient-centric customization promise to
redefine the landscape of robot-assisted endoscopy. These trends are set to not
only enhance the capabilities of the technology but also improve patient
outcomes, increase accessibility, and offer a higher degree of customization and
precision in medical procedures. The future of robot-assisted endoscopy is both
promising and dynamic, with exciting possibilities for the advancement of
healthcare on a global scale,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Global Robot-assisted Endoscope Market By End-use
(Hospitals, Outpatient Facilities, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Robot-assisted Endoscope Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Robot-assisted Endoscope Market.
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