| Status : Published | Published On : Mar, 2023 | Report Code : VRHC1212 | Industry : Healthcare | Available Format :
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Page : 150 |
Global Robotic Catheter Systems Market - Analysis and Forecast (2023-2030)
Industry Insights by Type (Multi-Specialty Systems, Single-Specialty Systems), by Technology (Electromechanical, Magnetic), by Application (Interventional Electrophysiology Procedures [Ablation Procedures, Coronary Procedures], Peripheral Vascular Procedures), by Component (Systems, Accessories), by End User (Hospitals, ASCs), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The global robotic catheter systems market is anticipated to generate revenue of USD 0.71 billion by 2030 and is expected to witness a CAGR of 5.8% during the forecast period (2023-2030) owing to increasing pervasiveness of chronic diseases such as cardiovascular disorders and inclination towards minimally invasive processes across the globe. Additionally, robotic catheterization system enables selective catheterization of the targeted nerve and is considered to be a cost effective treatment and provides extensive opportunities for global robotic catheter systems market to flourish at rampant pace. The robotic catheter systems market refers to the industry involved in the development, production, and sales of robotic-assisted catheterization systems. These systems are used in minimally invasive procedures to navigate and manipulate catheters within the body with greater precision and control.Robotic catheter systems are designed to enhance the capabilities of healthcare professionals during procedures such as cardiac ablation, electrophysiology studies, vascular interventions, and other interventional procedures. These systems typically consist of robotic arms, imaging technology, control consoles, and specialized catheters.
Robotic catheter system is used by a physician and is developed to derive precise manipulation, positioning and stable control of catheter that involves use of catheter based technique during cardiovascular processes. It is thus a medical robot that is developed to enhance ability of the physician to implement complex operations using small flexible tube referred as catheter. Furthermore, robotic catheter enables physicians to impact target tissue along with delivering various medicines and disinfecting agents to treat infection and diseases. These uses of catheter are thus contributing towards bolstering the growth of global robotic catheter systems market.
Market Segmentation
Insight by Type
On the basis of type, the global robotic catheter systems market is segmented into single-specialty systems and multi-specialty systems. Amongst these segments, a multi-specialty system held the larger share in the market in 2022. The growth of this segment is attributed towards multiple usages of multi-specialty robotic catheter systems such as multiple ablations.
Insight by End User
Based on end user, the global robotic catheter systems market is segmented into ASCs and hospitals. Amongst these segments, hospitals is expected to generate largest revenue throughout the estimated period as the global cardiac surgeries are being implemented in hospitals that are one of the most significant factors that is pertaining towards the growth of this segment and thereby contributing towards the growth of global robotic catheter systems market.
Insight by Component
Based on component, the global robotic catheter systems market is categorized into systems and accessories. Among the two categories, the system category held larger share in the market in 2022.
Global Robotic Catheter Systems Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018–2022 |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023 - 2030 |
|
Market Size in 2022 |
$x.xx Billion |
|
Revenue Forecast in 2030 |
$0.71 Billion |
|
Growth Rate |
CAGR 5.8% |
|
Segments Covered in the Report |
By Type, By End User, By Component |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Growth Drivers
Extensive pervasiveness of cardiovascular diseases along with reduced risk of occupational hazards for cardiologists is the key factors that are driving the growth of global robotic catheter systems market. Robotic technology is witnessing several advancements at rapid pace and is thus enabling hospitals to deduct the cost of catheterization labs specifically in remote arenas. Furthermore, extensive pervasiveness of chronic cardiovascular diseases such as coronary artery disease and arrhythmia pertaining to sedentary lifestyle and age-related factors is thereby escalating the growth of global robotic catheter systems market. The market for robotic catheter systems has been experiencing significant growth in recent years due to several factors. These include the increasing prevalence of cardiovascular diseases, the growing demand for minimally invasive procedures, and advancements in robotic technologies. Robotic catheter systems offer benefits such as reduced radiation exposure for healthcare professionals, improved accuracy, shorter procedure times, and enhanced patient outcomes.
Moreover, extravagant precision of robotic catheter systems in medical procedures is thereby stimulating the rapid adoption of these systems globally.
Restraints
High initial investment costs along with high system costs are the factors that are anticipated to hamper the growth of global robotic catheter market in the near future.
- High cost
- Complex training requirements
- Need for specialized infrastructure
Overall, the robotic catheter systems market is a promising market with a lot of potential for growth. The market is expected to grow at a significant pace during the forecast period, due to the increasing demand for minimally invasive procedures, the rising prevalence of cardiovascular diseases, and the technological advancements in robotic catheter systems.
Geography Insight
Robotic catheter systems market in North America is anticipated to generate largest revenue throughout the estimated period owing to increasing amalgamation of patients that are suffering from cardiac catheterization and cardiovascular diseases that are further accentuating the growth of robotic catheter systems market in this region. Moreover, Asia-Pacific is expected to witness highest CAGR during the forecast period due to increasing adoption of robotic catheter systems in Japan and increasing usage of robotic assisted catheter for treatments and diagnostic procedures in this region.
Competitive Insight
The eminent key players in the global robotic catheter systems market are undertaking considerable investment decisions in order to gain competitive advantage. Moreover, entering into partnership agreements and performing mergers & acquisitions are the key development strategies being implemented by the crucial players of robotic catheter systems market.
Some of the key players operating in the global robotic catheter systems market include Abbott Laboratories, Corindus Vascular Robotics Inc., Hansen Medical Inc., Stereotaxis Inc., Magnetecs Corporation, Catheter Precision Inc., Biosense Webster Inc., Intuitive Surgical Inc., and Boston Scientific Corporation.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Robotic Catheter Systems Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.
Segments Covered in the Report
- By Type
- Multi-Specialty Systems
- Single-Specialty Systems
- By Technology
- Electromechanical
- Magnetic
- By Application
- Interventional Electrophysiology Procedures
- Ablation procedures
- Coronary procedures
- Peripheral Vascular Procedures
- Interventional Electrophysiology Procedures
- By Component
- Systems
- Accessories
- By End-User
- Hospitals
- Ambulatory Surgical Centers (ASCs)
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
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Robotic Catheter Systems Market