Robotic Endoscopy Devices Market Size Worth $4.5 Billion By 2025

The global robotic endoscopy devices market size is expected to reach USD 4.5 billion by 2025, registering a CAGR 20.0% over a forecast period, according to a new report by Grand View Research, Inc. Rising preference for Minimally Invasive Surgical (MIS) procedures, recent product approvals by the regulatory bodies such as the U.S. Food and Drug Administration (FDA), and prevalence of chronic diseases are the key factors driving the growth.

Robotic endoscopy devices are developed to overcome the limitations of standard diagnostic and therapeutic procedures. The benefits of robotic endoscopy devices in surgical procedures include fast recovery time, reduced post-surgery complications, and minimized scars, thus reduced the duration of hospital stays. Such benefits are anticipated to drive the robotic endoscopy devices market in the forthcoming years.

Factors such as new product developments, approvals, and technological advancements are projected to further fuel the market growth. For instance, in March 2018, Auris Health (Johnson & Johnson) announced the FDA clearance for its Monarch Endoscopy platform. The robotic endoscopy system developed by Medineering GmbH received CE mark approval in the European Union in 2016. Medineering also received the CE approval for its endoscope robot in February 2018.

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www.grandviewresearch.com/industry-analysis/robotic-endoscopy-devices-market

Further key findings from the report suggest:

• In 2018, therapeutic segment held the largest revenue share owing to the rising adoption of robotic endoscopy devices for surgical intervention coupled with increasing number of market players developing new products for various surgical procedures
• Hospitals held the largest revenue share in 2018 owing to the availability of large funds with the hospitals in the developed regions coupled with rising adoption of the devices for performing various types of surgical procedures
• North America held the largest revenue share in 2018, owing to the financial capability of the hospitals to make investments in these devices and general awareness about robot assisted medical procedures
• Asia Pacific expected to expand at the fastest CAGR over the forecast period owing to the factors, such as rising disposable income, healthcare expenditure, and prevalence of chronic diseases
• Key players operating in the robotic endoscopy devices market include Intuitive Surgical, Inc.; TransEnterix, Inc.; Auris Health (Johnson & Johnson); Medineering GmbH; and Medrobotics Corporation