Endoscopic Robotics Market SWOT Analysis, Trends and Growth Forecast by 2030
The global Endoscopic Robotics Market was valued at USD 1.69 billion in 2021 and is expected to grow at a CAGR of 12.5% during the forecast period. Several factors are driving market growth, including the increasing prevalence of chronic diseases, rising geriatric population, preference for minimally invasive surgeries, high demand for endoscopy, availability of new products and devices equipped with advanced technologies, and rising investments in healthcare infrastructure improvement.
In addition, the increasing number of acquisitions and mergers in the healthcare industry is also driving market growth. However, the high cost of surgical endoscopic procedures and stringent regulatory reforms for patient safety are expected to restrain market growth.
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Based on approach, the global endoscopic robotics market has been segmented into surgical and diagnostic, with the surgical segment expected to account for the largest revenue share over the forecast period. This is due to increasing demand for endoscopic minimally invasive techniques, which have fewer complications and quicker recovery times than open surgeries.
Furthermore, several robotic endoscope manipulators are combined with autonomous control techniques to enhance the traditional framework of manual camera control by optimizing surgical workflow.
Based on application, the global endoscopy robotics market has been segmented into laparoscopy, colonoscopy, bronchoscopy, and others, with the laparoscopy segment expected to account for a significantly large revenue share over the forecast period. This is due to the increasing healthcare expenditures and innovations, product licensing, device regulations, as well as macroeconomic and industrial factors.
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In addition, laparoscopic surgery is preferred over conventional procedures due to numerous advantages, including a shorter hospital stay, reduced blood loss, lower patient morbidity, quick recovery time, rapid and successful results, low risk of infection, small or no incision, and less pain.
The global geriatric population is expected to increase to over 1.5 billion by 2050, accounting for 16.0% of the world's total population. As a result, the demand for endoscopic surgical equipment used in diagnostic and therapeutic procedures is expected to rise.
In conclusion, the global endoscopic robotics market is expected to grow significantly during the forecast period due to various factors such as increasing demand for minimally invasive surgeries, rising prevalence of chronic diseases, and availability of new products and devices equipped with advanced technologies. However, the high cost of surgical endoscopic procedures and stringent regulatory reforms for patient safety remain major challenges for the market's growth.
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