Global Robotic Endoscopy Devices Market by Application (Laparoscopy, Bronchoscopy, Colonoscopy), by Product (Therapeutic, Diagnostic) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global robotic endoscopy device market was worth USD 1.21 billion in 2018. It is expected to grow at a 20.0% CAGR over the forecast period. The main factors behind the increase are the growing preference for Minimally Invasive Surgical procedures (MIS), recent product approvals from regulatory bodies like the U.S. Food and Drug Administration, and the high prevalence of chronic illnesses.

Market participants are focused on expanding their product lines by getting product approvals from regulatory agencies such as the U.S. FDA or the European Union's CE Mark. Auris Health, for example, announced in March 2018 that its Monarch Endoscopy platform was FDA cleared. Medrobotics' Flex Robotic System was approved for CE marking in 2014. Medineering GmbH, located in Munich, was awarded CE approval for its endoscope robotic.

Many robotic endoscopy devices, including several that are currently in development, are being launched in the coming years. K-FLEX was a flexible remote endoscopic surgery robot that was developed by KAIST. It was tested in porcine trials in September 2018. Endomaster Pte Ltd in Singapore is also developing Master and Slave Transluminal Endoscopic Robo, a flexible robotic platform for endoscopic surgery.

These devices were created to overcome limitations in standard diagnostic and therapeutic procedures. These devices are more efficient in surgical procedures, have a faster recovery time and minimize scarring, which can reduce hospital stays. Robotic endoscopy is expected to have many benefits that will encourage its adoption.

The majority of robotic endoscopy equipment is used in different surgical procedures. This will support the market for robotic endoscopy products. The Annual Minimally Invasive Surgery Symposium 2016 (MISS) reported that nearly 140,000 robotic general surgeries were performed in the United States in 2015. This number is increasing each year.

Product Insights

The market share for therapeutics was 97.0% in 2018. This is due to increasing surgical intervention using robotic endoscopy and the growing number of market players creating new robotic endoscopy products for different surgical procedures. The acceptance of robotic-assisted surgical procedures has increased dramatically since the introduction of Intuitive Surgical Inc.'s Da Vinci Robotic Surgical System.

Recognizing the importance of robotics in the medical industry has prompted prominent companies to create robotic endoscopy systems. TransEnterix Surgical, Inc., Auris Health Johnson; Medineering GmbH, Medrobotics Corporation, and others are some of the major players.

CAGR of 24.6% is expected in the diagnostic segment. This is due to the increasing use and approvals for robotic endoscopy devices that can be used to diagnose various conditions. The Monarch Platform from Auris Health (Johnson & Johnson), for bronchoscopy, is an example. Technology innovation will continue to fuel growth. Storm Lab U.K., for instance, has a robotic platform that provides a safer alternative for standard colonoscopy to patients with Inflammatory Bowel disease (IBD).

Application Insights

The largest segment was laparoscopic procedures, which were valued at USD 946 million in 2018. The growth is due to a growing number of robotic laparoscopic surgery. Market growth will be driven by factors such as a growing geriatric population, increased demand for laparoscopic diagnostic or therapeutic procedures, and unhealthy living habits.

Patients with lung cancer may benefit from a robotic endoscopic platform that can perform bronchoscopy. This platform is ideal for those who need to take a biopsy prior to surgery, immunotherapy or stereotactic radiation. The adoption of robotic platforms for bronchoscopy is expected to increase at a moderate rate with the recent launch. In the United States, UPMC Hamot used the Monarch platform to diagnose lung cancer in June 2018.

Over the forecast period, the colonoscopy market is expected to grow at a 33.5% CAGR. One factor driving growth is the large number of colonoscopy devices in their developmental stages. The growth is expected to be supported by a high incidence of inflammatory bowel disease such as Crohn's, ulcerative colitis and colorectal carcinoma.

End-Use Information

In 2018, hospitals accounted for the largest share of revenue. The largest revenue share in 2018 was held by hospitals. Hospitals are the main care option in many countries. Market growth is also being driven by the increasing adoption of robotic endoscopy technology for different types of surgeries and the availability of funding for hospitals in developed countries. Medineering GmbH, for example, announced in April 2018 that its robotic endoscopy equipment had been successfully used in clinical trials at several universities in Germany and Northern Italy.

Hospitals are seeing an increase in robotic-assisted laparoscopy procedures. In developed countries, hospitals that are well-established offer training for doctors in robotic surgery. Hospitals will also see an increase in demand due to patient awareness of the benefits of robotic surgery.

Over the forecast period, the fastest CAGR CAGR 21.5% in the ambulatory surgical center segment is anticipated. One of the main factors driving growth is the increasing adoption of robotic devices in ambulatory surgery centers, particularly in developed countries like the U.S. It is anticipated that the growth will be further boosted by the rising preference of patients for minimally invasive procedures.

Regional Insights

North America was the dominant market in 2018, accounting for 59.9% revenue share. The largest share of regional revenue was held by the United States, and it is expected to maintain its dominance in the future. There are several key factors that contributed to the growth of the region, including a strong healthcare sector, financial capacity of hospitals to invest in robotic endoscopy equipment, general awareness of robot-assisted medical procedures and a large market.

Asia Pacific will experience the fastest CAGR, at 12.9%, over the forecast period. Regional demand will be driven by factors like rising disposable income, increasing healthcare spending, and the prevalence of chronic illnesses. The demand will also be fueled by the increasing use of robotics in healthcare facilities.

Robotic Endoscopy Devices Market share Insights

Some of the market leaders include Intuitive Surgical, Inc., TransEnterix, Inc., Auris Health, Medineering GmbH, and Medrobotics Corporation. These players are able to gain a competitive edge by collaborating with industry participants and launching new products.

Scope of the Report

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2014 to 2025. Grand View Research, Inc. analyzed the global robotic endoscopy device market report by product, region, application, and end-use.

• Product Outlook (Revenue USD Million, 2014-2025)

  • Diagnostic

  • Therapeutic

• App Outlook (Revenue USD Million, 2014-2025)

  • Laparoscopy

  • Bronchoscopy

  • Colonoscopy

• End-Use Outlook (Revenue USD Million, 2014-2025)

  • Hospitals

  • Ambulatory Surgical Centers

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • Italy

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

Up Market Research published a new report titled “Robotic Endoscopy Devices Market research report which is segmented by Application (Laparoscopy, Bronchoscopy, Colonoscopy), by Product (Therapeutic, Diagnostic), By Players/Companies Therapeutic, Diagnostic, Product Outlook (Revenue USD Million 2014 - 2025)DiagnosticTherapeutic”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Robotic Endoscopy Devices Market Report Segments:

The market is segmented by Application (Laparoscopy, Bronchoscopy, Colonoscopy), by Product (Therapeutic, Diagnostic).

Robotic Endoscopy Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Robotic Endoscopy Devices Market

Overview of the regional outlook of the Robotic Endoscopy Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Robotic Endoscopy Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Robotic Endoscopy Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Laparoscopy

                2. Bronchoscopy

                3. Colonoscopy

                1. Therapeutic

                2. Diagnostic

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Robotic Endoscopy Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Robotic Endoscopy Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.