Robotic Endoscopy Devices Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Robotic Endoscopy Devices Market


The global robotic endoscopy devices market size was valued at USD 1.21 billion in 2018 and is anticipated to expand at a CAGR of 20.0% over the forecast period. Growing preference for Minimally Invasive Surgical (MIS) procedures, recent product approvals by regulatory bodies such as the U.S. Food and Drug Administration (FDA), and high prevalence of chronic diseases are the major factors driving the growth.

Majority of market participants focus on expanding their product line by getting product approvals from the respective regulatory agencies, such as the U.S. FDA and European Unions CE marking. For instance, in March 2018, Auris Health announced the FDA clearance of its Monarch Endoscopy platform. In 2014, Flex Robotic System developed by Medrobotics received CE mark approval. Medineering GmbH, a Munich-based company, received the CE approval in February 2018, for its endoscope robot.

Several robotic endoscopy devices are in the developmental stage and are expected to be launched in the forthcoming years. For instance, K-FLEX, a flexible, remote endoscopic surgery robot developed by KAIST was undergoing porcine trials in September 2018. Additionally,Master and Slave Transluminal Endoscopic Robot, a flexible robotic endoscopic platform is under development by Endomaster Pte Ltd, Singapore.

These devices are developed to overcome the limitations of standard diagnostic and therapeutic procedures. Benefits of such devices in surgical procedures include less complications post-surgery, faster recovery time, and minimal scars, thereby reduction in the duration of hospital stays.These benefits associated with robotic endoscopy devices are anticipated to be a prominent factor for its adoption.

As majority of the robotic endoscopy devices are used in various surgical procedures, thus the growing number of robotic surgery procedures is expected to support the growth of the robotic endoscopy devices market.During the Annual Minimally Invasive Surgery Symposium (MISS) 2016, the surgeons reported that the number of robotic general surgery procedures in U.S. was nearly 140,000 in 2015 and is constantly witness significant growth with each passing year.

Product Insights of Robotic Endoscopy Devices Market

In 2018, therapeutic segment held the largest market share of 97.0%, attributed to the rising adoption of robotic endoscopy devices for surgical intervention and growing number of market players developing novel robotic endoscopy devices for various surgical procedures. Following the introduction of Da Vinci Robotic Surgical System by Intuitive Surgical Inc., the acceptance of robotic assisted surgery has increased significantly.

Rising adoption of robotic platform in medical sector has encouraged prominent players to develop robotic endoscopy devices. Some of the key companies include TransEnterix Surgical, Inc.; Auris Health (Johnson & Johnson); Medineering GmbH; Medrobotics Corporation; and others.

Diagnostic segment is expected to witness the most lucrative CAGR of 24.6% over the forecast period, attributed to increasing development and approvals of robotic endoscopy devices for various diagnostic procedures. For instance, Monarch Platform by Auris Health (Johnson & Johnson) is indicated for bronchoscopy. Technological innovation is anticipated to further fuel the growth. For instance, Storm Lab U.K. has a robotic platform for providing a safer alternative to standard colonoscopy for patients with Inflammatory Bowel Disease (IBD).

Application Insights of Robotic Endoscopy Devices Market

Laparoscopic procedures emerged as the largest segment and was valued at USD 946.0 million in 2018. Growing number of robotic laparoscopic surgeries is one of the major factors contributing to the growth. Factors such as rising geriatric population, demand for laparoscopic diagnostic and therapeutic procedures, and unhealthy lifestyle are expected to further propel the market.

Robotic endoscopic platform with bronchoscopy applications can be beneficial for patients with lung lesions that may require biopsy prior to surgical resection, immunotherapy, or stereotactic radiation. With recent launch of robotic platforms for bronchoscopy, the adoption is anticipated to witness a moderate pace. For instance, in June 2018, UPMC Hamot, a hospital in U.S. started utilizing Monarch platform for lung cancer diagnosis.

Colonoscopy segment is anticipated to expand at the fastest CAGR of 33.5% over the forecast period. The large number developmental stage devices for colonoscopy applications is one of the factors driving the growth. Additionally, high prevalence of inflammatory bowel diseases, such as Crohns disease, ulcerative colitis, and colorectal cancer is anticipated to support the growth.

End Use Insights

Hospitals accounted for the largest revenue share in 2018. Hospitals are the primary care options in a lot of countries, which is one of the significant factors driving the growth of the segment. Furthermore, availability of funds for the hospitals in the developed regions coupled with growing adoption of robotic endoscopy devices for various types of surgical procedures are contributing to the market growth. For instance, in April 2018, Medineering GmbH announced the successful clinical use of its robotic endoscopy devices across various university hospitals in Germany and Northern Italy.

The number of robotic-assisted laparoscopy procedures is witnessing growth in the hospital settings. Moreover, well-established hospitals in developed countries provide training to the physicians on robotic surgery. Additionally, rising patient awareness about the benefits of robotic systems is also anticipated to propel the demand in the hospital settings.

Ambulatory surgical centers segment is expected to expand at the fastest CAGR CAGR 21.5% over the forecast period. Growing adoption of robotic devices in ambulatory surgical centers, especially in the developed countries such as U.S. is anticipated to be one of the key factors boosting the growth. Rising patient inclination toward minimally invasive procedures is expected to further boost the growth.

Regional Insights of Robotic Endoscopy Devices Market

In 2018, North America dominated the global market, accounting for 59.9% of the revenue share. U.S. accounted for the largest regional revenue share and is expected to continue its dominance over the forecast period. The key factors boosting the growth include presence of well-established healthcare sector, financial capability of the hospitals to invest in robotic endoscopy devices, general awareness about robot assisted medical procedures, and presence of a large number of market participants in the region.

Asia Pacific is expected to register the fastest CAGR of 12.9% over the forecast period. The factors such as rising disposable income, healthcare expenditure, and prevalence of chronic diseases are expected to drive the regional demand. Additionally, growing adoption of robotic systems in the healthcare facilities is expected to fuel the demand.

Market Share Insights of Robotic Endoscopy Devices Market

Intuitive Surgical, Inc.; TransEnterix, Inc.; Auris Health; Medineering GmbH; and Medrobotics Corporation are some of the major market players. R&D investments, collaborations with other industry participants, and new product launches are among the key strategies adopted by these players for gaining competitive edge.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Robotic Endoscopy Devices Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented global robotic endoscopy devices market report on the basis of product, application, end use, and region:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Diagnostic
  
Therapeutic

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Laparoscopy
  
Bronchoscopy
  
Colonoscopy

End Use Outlook (Revenue, USD Million, 2019 - 2030)

  
Hospitals
  
Ambulatory Surgical Centers
  
Others