Robotic Endoscopy Devices Market Analysis

Robotic Endoscopy Devices Market Analysis

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Based on product type, the market is segmented into diagnostic and therapeutic. The therapeutic segment held dominating revenue share in 2023 and is anticipated to reach USD 5.9 billion by 2032.
 

• The therapeutic segment growth is primarily driven by the surging demand for minimally invasive procedures worldwide. Robotic endoscopic interventions, characterized by their minimally invasive nature, offer numerous advantages to patients over traditional surgeries, including reduced pain, shorter hospital stays, faster recovery times, and lower risk of complications.
   
• Additionally, the utilization of robotic endoscopy devices to conduct diverse interventions aimed at treating or managing range of medical conditions. These interventions encompass a spectrum of procedures such as polyp removal, hemostasis, stricture dilation, tumor treatment, targeted therapy delivery, among others. Consequently, these devices play a crucial role in addressing an extensive array of gastrointestinal and other medical issues, resulting in the segment growth.
   

Based on applications, the robotic endoscopy devices market is segmented into colonoscopy, bronchoscopy, laparoscopy, gastroscopy, and other applications. The laparoscopy segment held leading revenue share and was valued at over USD 1.6 billion in 2023.
 

• The high procedural volume of laparoscopy segment is primarily attributed to the minimally invasive nature of laparoscopic procedures. These techniques entail small incisions instead of larger ones as necessitated by traditional open surgeries.
   
• Additionally, the advantages offered by laparoscopic procedures contribute to their cost-effectiveness. Despite the initial higher investment in robotic systems compared to traditional laparoscopic equipment, studies have demonstrated that robotic-assisted laparoscopic surgeries can result in long-term cost savings. This is attributed to factors such as reduced hospital stays, fewer complications, and quicker patient recovery times.
   

The robotic endoscopy devices market by end-use is categorized into hospitals, ambulatory surgical centers, and other end users. The hospital segment dominates the market accounting for around USD 1.5 billion in 2023.
 

• Hospitals, with their robust infrastructure and resources, are equipped to offer comprehensive training and support to surgeons and staff for the proficient operation of robotic endoscopy devices. This commitment ensures that healthcare professionals can utilize the equipment effectively, ultimately leading to increased utilization of the endoscopy devices in the hospital settings.
   
• Moreover, hospitals typically have a large volume of patients including aging population requiring surgical interventions and other complex procedures. Robotic endoscopy devices can help hospitals meet the demand for complex surgical procedures while maintaining high standards of patient care and safety, propelling the segment landscape.
   

North America robotic endoscopy devices market accounted for around USD 1.5 billion revenue in 2023 and is predicted to witness substantial market growth.
 

• The prevalence of obesity and diabetes has been on the rise in North America, particularly in the U.S., where obesity has a significant target population. This increasing trend is closely associated with elevated risk factors including poor dietary habits, sedentary lifestyles, and other factors. These factors contributes to the increasing prevalence of gastrointestinal and urology disorders in turn fueling the demand for robotic endoscopy devices in the region.
   
• Furthermore, the increase in aging population is substantially propelling the market progress. As individuals age, they become more susceptible to age-related diseases such as colorectal cancer, gastrointestinal bleeding, and diverticulosis. Robotic endoscopy devices offer advanced diagnostic and therapeutic capabilities, allowing for more accurate detection and treatment of these conditions in elderly patients, resulting in increased number of patients seeking the treatment.