The global robotic catheterization systems market is set to experience significant growth of 14.8% CAGR from 2022 to 2029, with an estimated market value of around US$ 42.9 Million as of 2022. As per Future Market Insights projections, Percutaneous Coronary Intervention applications hold a substantial share of around 73.9% in 2021 in the global robotic catheterization systems market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | US$ 36.6 Million |
| Market Value 2029 | US$ 112.5 Million |
| CAGR 2022 to 2029 | 14.8% |
| Market Share of Top 5 Countries | 83.1% |
The robotic catheterization systems market is experiencing a development in terms of the digitalization of instruments with it being a chief factor in the advancement of automated and integrated cardiovascular interventional labs. The developments in robotic technology are occurring at a rapid pace, which would assist hospitals in cutting down on catheterization lab costs, chiefly in inaccessible and isolated areas.
The commercialization of such advanced digitalized systems has resulted in the improvement of the operational efficiency of catheterization labs. The factor of high cost is still relevant for such systems, however, the deployment of robotic catheterization systems is gaining pace over the globe owing to their benefits over conventional catheterization procedures.
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| Particulars | Details |
|---|---|
| H1, 2021 | 15.60% |
| H1, 2022 Projected | 14.78% |
| H1, 2022 Outlook | 14.68% |
| BPS Change - H1, 2022 (O) – H1, 2022 (P) | (-) 10 ↓ |
| BPS Change – H1, 2022 (O) – H1, 2021 | (-) 92 ↓ |
The growth and analysis of the global robotic catheterization systems market were studied by Future Market Insights. The high cost of robotic catheterization procedures and growing awareness concerning complications associated with robotic catheterization systems are responsible for such a drastic drop in BPS in the H1-2022 period.
The comparative analysis performed by Future Market Insights states that the robotic catheterization systems market will witness a downfall of 92 Basis Point Share (BPS) when H1- 2021 and H1- 2022 (O) were compared. BPS change between the projected and outlook period was nearly 10 BPS in H1-2022.
This major downfall was due to factors such as the high cost of robot-assisted catheterization, limited reimbursement, and the COVID-19 impact. Factors such as socio-economic status, low affordability by middle-income group members, and the risks associated with the after-effects of the catheterization process will slow down the growth of the market.
Despite the above mention factors, there are some more points that will contribute to the market growth like, rapid technological advancements which would assist hospitals in cutting down on catheterization lab costs, chiefly in inaccessible and isolated areas and the commercialization of such advanced digitalized systems has resulted in the improvement of the operational efficiency of catheterization labs.
Hence, the deployment of robotic catheterization systems aims to gain pace over the globe owing to their benefits over conventional catheterization procedures in the upcoming years.
The robotic catheterization systems market holds nearly 1% of the overall US$ 5.4 Billion Robotic Surgery market in 2021.
Robotic systems for surgical and interventional procedures have now gained a considerable impression on how surgeries are executed and are being gradually implemented in the present operating rooms. Robot-assisted catheterization has demonstrated its ability to perform interventional procedures with vastly low exposure to radiation by the operator as compared to conventional catheterization procedures.
Processes, where clinicians are provided with navigational and mechanical tools which carry out a defined set of actions or a part of a procedure with high precision and control, are now achieved with a robot- catheterization systems. These systems are developed to provide physicians with precision in terms of catheter manipulation and its positioning, while keeping account of its stable control during catheter-associated procedures, vastly for cardiovascular processes.
These systems or medical robots are thus designed to promote physician ability to perform critical medical procedures with precision and control. Moreover, the implementation of robotic catheterization systems also enables the physicians to cause an impact on the target tissue as well as assist with the delivery of medicines or disinfecting agents for infection and disease prevention. Rising advancements in the deployment of robotic catheterization systems in endovascular therapy is an emerging novel approach with significant effects on the reduction in exposure to radiation.
These systems augment the applications of minimally invasive procedures and assist physicians to perform procedures in the domain of neurosurgery, vascular surgery, and interventional cardiology.
The market is expected to expand at a considerable growth rate over the next seven years at a CAGR of close to 14.8%.
Principal Consultant
The opportunistic approach to the robotic catheterization systems market is driven by the factor of reduced risk in terms of occupational hazards with reference to radiation exposure for cardiologists. During interventional cardiology procedures, it has been reported by the majority of surgeons that the occupational hazards associated with interventional cardiology procedures affected them.
Modern cath labs use ionizing radiation comprehensively in the form of X-rays, which is responsible for the practitioners to be exposure to the risk of malignancy also comprising the neck and head region. Though preventive measures, such as the utilization of lead aprons may reduce the impact of such risk-associated factors, it is to be noted that their long-term use may be associated with the development of orthopedic injuries among practitioners.
The robotic catheterization systems market is thus set to witness lucrative growth with the advancement in technology as well as the extensive testing of these systems in clinical trials for their efficacy.
Training skilled professionals to perform conventional cardiovascular procedures will further boost the growth of robot-assisted catheterization procedures, such as catheter ablation.
Thus, the reduced impact of risk associated with radiation, the precision of robot-assisted catheterization procedures, and the rising demand for skilled professionals to perform robotic catheterization procedures will drive the growth of the robotic catheterization systems market over the forecast period.
The restricted mechanical capacity of balloon angioplasty in peripheral vascular interventions to recover calcified lesions has given rise to the development of novel technologies using robot-assisted catheterization procedures. Conventionally, a large number of robot-assisted catheterization technologies have been established to assist with the physicians’ ability to operate with percutaneous coronary intervention procedures. However, their a lack of data comparing the endovascular options, and thus, there is large parity with regard to establishing which robot-assisted catheterization procedure would benefit the patient, depending upon the disease and procedural impact on surgical outcomes. Additionally, the high upfront cost of robotic catheterization systems depicts a negative impact on the end user’s decision to purchase them.
Setting robot-assisted endovascular procedures as the standard of care may take time since special reimbursement for robotic-assisted catheterization is not available.
The lack of studies demonstrating cost-effectiveness and outcome data from manufacturers might make it challenging for care centers to justify investing in the robotic platform. By extending the spectrum of indications for robotic catheterized procedures, manufacturers may improve their applicability and potentially gain market share in the long term.
Other major complications include infection at the insertion site of the robotic catheterization systems guiding wire and catheter, contamination of the burr catheter, and seeding of the catheter.
Growing awareness concerning complications associated with robotic catheterization systems procedures and increasing reluctance concerning the risk of infection, results in low inclination and reluctance towards robotic catheterization system procedures in peripheral vascular intervention by patients.
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The USA dominates the North American region with a total market share of around 64.9% in 2021 and is projected to continue experiencing high growth throughout the forecast period. The growth of this market is driven by the high number of people with disabilities combined with a large geriatric population. Additionally, the growth in the country is also associated with the establishment of key manufacturers and research institutes with dedicated programs relevant to the field of automation and robotics in medicine and healthcare.
United Kingdom is set to exhibit a CAGR of over 14.8% in the European robotic catheterization systems market during the forecast period. The rising burden of disease in the region, along with the wide adoption of clinically approved, mechanical, and automated systems for emergency surgeries has resulted in the lucrative growth that the country of United Kingdom is set to display over the forecast period.
China holds a 40.3% share of the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.3% during the forecast period. The growth of the robotic catheterization systems market in the country is attributed to the rising wave of automation and robotic assistive devices in the region of East Asia, with China as the prime contributor in the development of the industry for robotic devices for various intended uses, including catheterization procedures for patients with specific indications.
In 2021, Japan held a 36.3% share in the East Asia robotic catheterization systems market and is projected to expand at a CAGR of 14.1% from 2022 to 2029. Japan projects significant growth in the global robotic catheterization systems market owing to the recent advancements in the field of interventional procedures being performed by robotic assistance. In 2018, a novel robot-assisted catheter operating system was studied as a means to decrease physical stress and X-ray exposure time to physicians during endovascular procedures in Japan. The study outcomes led to suggestive procedures with robotic integrated services to it within the country.
Electromechanical Robotic Catheterization Systems project a lucrative growth at a CAGR of 14.8% till the end of the forecast period, with a market share of over 99% in 2021. The growth is associated with the higher efficiency of the electromechanical robotic catheterization systems over the standard magnetic-guided robotic catheterization systems.
Percutaneous Coronary Intervention holds a revenue share of 73.9% in 2021 and is expected to grow with a CAGR of nearly 15.2% during the forecast period. The segment holds the maximum revenue share due to the defined clinical efficacy of robotic catheterization systems in cardiovascular procedures with reduced time and selective area of procedural interventions.
Catheterization Laboratories hold a revenue share of 42.9% in 2021. The development of structured robotic navigations and clinical dexterity of robot-assisted catheterization procedures have improved the time of recovery and high precision of surgical procedures in modern catheterization laboratories. This segment is expected to have a significant growth rate of around 18.3% CAGR during the forecast period.
Strategic collaborations, acquisitions, expansion, product launches, agreements, and research sponsorship are the key strategies adopted by manufacturers to increase product sales in different geographies.
Similarly, recent developments related to companies manufacturing robotic catheterization systems products have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Germany, United Kingdom, France, Italy, Spain, China, Japan, South Korea, India, Australia, New Zealand, and GCC Countries |
| Key Market Segments Covered | Product, Application, End User, and Region |
| Key Companies Profiled |
|
| Pricing | Available upon Request |
The global robotic catheterization systems market is worth US$ 36.6 Million in 2021 and is set to expand 2.6X over the next seven years.
The robotic catheterization systems market is expected to reach US$ 112.5 Million by the end of 2029, with sales revenue expected to register 14.8% CAGR.
Portfolio expansion through acquisition and mergers, new product development, and customer-centric approach developments are some of the key trends being witnessed in this marketplace.
The USA, Canada, United Kingdom, Germany, and France are expected to drive demand for robotic catheterization systems products.
North America is one of the key markets for robotic catheterization systems, with the USA expected to account for over 90.4% of the North American market during the forecast period.
Demand for robotic catheterization systems in Europe is expected to register a growth of 14.2% over the next seven years.
The USA, Canada, and Germany are key producers of robotic catheterization systems products.
Siemens, Stereotaxis, Inc, and Hansen Medical, Inc. (Johnson & Johnson) are the key exporters of the robotic catheterization systems market.
1. Executive Summary | Robotic Catheterization Systems Market 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 2.3. Inclusions and Exclusions 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Development Trends 4. Market Context 4.1. Install Base Scenario 4.2. Reimbursement Scenario 4.3. Regulatory Scenario 4.4. Prevalence of Cardiac Disorders, By Country 5. Global Market Demand Analysis 2014 to 2021 and Forecast, 2022 to 2029 5.1. Historical Market Volume (Units) Analysis, 2014 to 2021 5.2. Current and Future Market Volume (Units) Projections, 2022 to 2029 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis by Product Type 6.2. Pricing Break-up 6.2.1. Manufacturer-Level Pricing 6.2.2. Distributor Level Pricing 6.3. Global Average Pricing Analysis Benchmark 7. Global Market Demand (in Value or Size in US$ Million) Analysis 2014 to 2021 and Forecast, 2022 to 2029 7.1. Historical Market Value (US$ Million) Analysis, 2014 to 2021 7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2029 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.1.1. Global GDP Growth Outlook 8.1.2. Global Healthcare Outlook 8.1.3. Per Capita Healthcare Expenditure Outlook 8.2. Forecast Factors - Relevance & Impact 8.2.1. New Product Launches 8.2.2. Growing Demand for Robotic-Assisted Surgery Devices 8.2.3. Increasing Prevalence of Cardiac Disorders 8.2.4. Growing Number of Surgeries 8.2.5. Increasing Healthcare Expenditure 8.3. Market Dynamics 8.3.1. Drivers 8.3.2. Restraints 8.3.3. Opportunity Analysis 9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Product Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Product Type, 2014 to 2021 9.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Product Type, 2022 to 2029 9.3.1. Electromechanical Robotic Catheterization Systems 9.3.2. Magnetic-Guided Robotic Catheterization Systems 9.4. Market Attractiveness Analysis by Product Type 10. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Application 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) Analysis by Application, 2014 to 2021 10.3. Current and Future Market Size (US$ Million) Analysis and Forecast by Application, 2022 to 2029 10.3.1. Percutaneous Coronary Intervention 10.3.2. Cardiac Electrophysiology Procedures 10.4. Market Attractiveness Analysis by Application 11. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by End User 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Million) Analysis by End User, 2014 to 2021 11.3. Current and Future Market Size (US$ Million) Analysis and Forecast by End User, 2022 to 2029 11.3.1. Hospitals 11.3.2. Ambulatory Surgical Centers 11.3.3. Catheterization Laboratories 11.4. Market Attractiveness Analysis by End User 12. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Region 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ Million) Analysis by Region, 2014 to 2021 12.3. Current and Future Market Size (US$ Million) Analysis and Forecast by Region, 2022 to 2029 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia 12.3.6. Oceania 12.3.7. Middle East and Africa (MEA) 12.4. Market Attractiveness Analysis by Region 13. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 13.1. Introduction 13.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 13.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 13.3.1. By Country 13.3.1.1. USA 13.3.1.2. Canada 13.3.2. By Product Type 13.3.3. By Application 13.3.4. By End User 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Product Type 13.4.3. By Application 13.4.4. By End User 13.5. Market Trends 13.6. Key Market Participants - Intensity Mapping 13.7. Drivers and Restraints - Impact Analysis 14. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 14.1. Introduction 14.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 14.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 14.3.1. By Country 14.3.1.1. Brazil 14.3.1.2. Rest of Latin America 14.3.2. By Product Type 14.3.3. By Application 14.3.4. By End User 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Product Type 14.4.3. By Application 14.4.4. By End User 14.5. Market Trends 14.6. Key Market Participants - Intensity Mapping 14.7. Drivers and Restraints - Impact Analysis 15. Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029 15.1. Introduction 15.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 15.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 15.3.1. By Country 15.3.1.1. Germany 15.3.1.2. Italy 15.3.1.3. France 15.3.1.4. United Kingdom 15.3.1.5. Spain 15.3.1.6. Rest of Europe 15.3.2. By Product Type 15.3.3. By Application 15.3.4. By End User 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Product Type 15.4.3. By Application 15.4.4. By End User 15.5. Market Trends 15.6. Key Market Participants - Intensity Mapping 15.7. Drivers and Restraints - Impact Analysis 16. South Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029 16.1. Introduction 16.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 16.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 16.3.1. By Country 16.3.1.1. India 16.3.1.2. Rest of South Asia 16.3.2. By Product Type 16.3.3. By Application 16.3.4. By End User 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Product Type 16.4.3. By Application 16.4.4. By End User 16.5. Market Trends 16.6. Key Market Participants - Intensity Mapping 16.7. Drivers and Restraints - Impact Analysis 17. East Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029 17.1. Introduction 17.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 17.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 17.3.1. By Country 17.3.1.1. China 17.3.1.2. Japan 17.3.1.3. South Korea 17.3.2. By Product Type 17.3.3. By Application 17.3.4. By End User 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Product Type 17.4.3. By Application 17.4.4. By End User 17.5. Market Trends 17.6. Key Market Participants - Intensity Mapping 17.7. Drivers and Restraints - Impact Analysis 18. Oceania Market Analysis 2014 to 2021 and Forecast 2022 to 2029 18.1. Introduction 18.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 18.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 18.3.1. By Country 18.3.1.1. Australia 18.3.1.2. New Zealand 18.3.2. By Product Type 18.3.3. By Application 18.3.4. By End User 18.4. Market Attractiveness Analysis 18.4.1. By Country 18.4.2. By Product Type 18.4.3. By Application 18.4.4. By End User 18.5. Market Trends 18.6. Key Market Participants - Intensity Mapping 18.7. Drivers and Restraints - Impact Analysis 19. Middle East and Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029 19.1. Introduction 19.2. Historical Market Size (US$ Million) and Volume (Units) Analysis by Market Taxonomy, 2014 to 2021 19.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast by Market Taxonomy, 2022 to 2029 19.3.1. By Country 19.3.1.1. GCC Countries 19.3.1.2. Rest of Middle East and Africa 19.3.2. By Product Type 19.3.3. By Application 19.3.4. By End User 19.4. Market Attractiveness Analysis 19.4.1. By Country 19.4.2. By Product Type 19.4.3. By Application 19.4.4. By End User 19.5. Market Trends 19.6. Key Market Participants - Intensity Mapping 19.7. Drivers and Restraints - Impact Analysis 20. Market Structure Analysis 20.1. Market Share Analysis 20.2. Market Concentration 20.3. Market Presence Analysis 20.3.1. By Regional Footprint of Players 20.3.2. Product foot print by Players 20.3.3. Channel Foot Print by Players 21. Competition Analysis 21.1. Competition Dashboard 21.2. Competition Benchmarking 21.3. Competition Deep Dive (Tentative List) 21.3.1. Hansen Medical, Inc. (Johnson & Johnson) 21.3.1.1. Overview 21.3.1.2. Product Portfolio 21.3.1.3. Profitability by Market Segments (Product/Channel/Region) 21.3.1.4. Sales Footprint 21.3.1.5. Strategy Overview 21.3.1.5.1. Marketing Strategy 21.3.1.5.2. Product Strategy 21.3.1.5.3. Channel Strategy 21.3.2. Corindus Vascular Robotics Inc. (Siemens AG) 21.3.2.1. Overview 21.3.2.2. Product Portfolio 21.3.2.3. Profitability by Market Segments (Product/Channel/Region) 21.3.2.4. Sales Footprint 21.3.2.5. Strategy Overview 21.3.2.5.1. Marketing Strategy 21.3.2.5.2. Product Strategy 21.3.2.5.3. Channel Strategy 22. Assumptions and Acronyms Used 23. Research Methodology
Healthcare
January 2018
REP-GB-1307
September 2023
278 pages
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Robotic Catheterization Systems Market
