Global Robot Assisted Percutaneous Coronary Intervention (PCI) Market, By Product Type (Robotic Systems, Instruments, Accessories), End User (Hospitals, Cath Labs, Others) - Industry Trends and Forecast to 2031.
Robot Assisted Percutaneous Coronary Intervention (PCI) Market Analysis and Size
The use of robotics in PCI aims to enhance precision, control, and safety during the procedure. The robotic system is typically controlled by an interventional cardiologist from a console, allowing for more accurate navigation of guidewires and catheters through blood vessels. An upsurge in the demand for robotically assisted surgeries is one of the major factors fostering the growth of the market. The surging geriatric population base coupled with growing innovations and advancements in technologies is another market growth determinant. Rising health awareness among the individuals, growing demand for minimally invasive surgeries, unhealthy dietary patterns, and rising medical tourism are other important factors that will further generate lucrative market growth opportunities.
Data Bridge Market Research analyzes that the global robot assisted percutaneous coronary intervention (PCI) market which was USD 13.40 billion in 2023, is likely to reach USD 24.00 billion by 2031, and is expected to undergo a CAGR of 36.8% during the forecast period. “Robotic systems” dominates the product type segment of the market due to the rising prevalence of coronary artery diseases. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Robot Assisted Percutaneous Coronary Intervention (PCI) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2022)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Product Type (Robotic Systems, Instruments, Accessories), End User (Hospitals, Cath Labs, Others)
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Countries Covered
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Market Players Covered
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Market Opportunities
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Market Definition
Robot assisted percutaneous coronary intervention (PCI) is a non-surgical procedure of implanting a stent and lowering the chances of orthopedic injury and operator fatigue. Robot assisted percutaneous coronary intervention (PCI) is a medical procedure that is used to treat obstructive coronary artery disorder and open up blocked or narrowed blood vessels.
Global Robot Assisted Percutaneous Coronary Intervention (PCI) Market Dynamics
Drivers
- Increasing Prevalence of Coronary Artery Diseases
The growing prevalence of coronary artery disorders, including atherosclerosis and coronary artery stenosis, leads to a higher demand for coronary interventions. Robot-assisted PCI, with its potential for enhanced precision and control, becomes increasingly relevant in addressing the needs of patients requiring such interventions.
- Rising Clinical Evidence
Generating more robust clinical evidence through well-designed studies and trials can help establish the safety and efficacy of robot-assisted PCI. Positive clinical outcomes can drive greater acceptance among healthcare professionals and contribute to market growth.
Opportunities
- Increasing Technological Advancements
Ongoing advancements in robotic technologies, such as improved haptic feedback, increased precision, and enhanced navigation capabilities, present opportunities for the development of more sophisticated and user-friendly robotic systems for PCI procedures. Integrating AI algorithms with robotic systems could enhance procedural planning, decision-making, and post-procedure analysis. AI-driven insights may contribute to more efficient and effective interventions.
- Increasing Collaboration and Partnership by the Market Players
Collaborations between medical device manufacturers, healthcare institutions, and research organizations can drive innovation and facilitate the development of integrated solutions. Partnerships can also aid in addressing challenges related to training, education, and market access.
Restraints
- Strict Regulations and Guidelines
Meeting regulatory requirements for medical devices and ensuring standardization in the use of robotic systems across different healthcare settings can be a complex process. Achieving regulatory approval in various regions is critical for market access.
- Long Procedural Time
In the early stages of adoption, robot-assisted PCI procedures may take longer than traditional PCI procedures. This is partly due to the time required for setup, calibration, and the learning curve associated with using the robotic system. Overcoming this challenge is crucial for widespread acceptance.
Challenge
- High maintenance costs
The initial investment and ongoing maintenance costs associated with acquiring and maintaining robotic systems can be substantial. Hospitals and healthcare facilities may face financial challenges in justifying the cost of implementing this technology, especially if there is uncertainty about the long-term benefits.
This robot assisted percutaneous coronary intervention (PCI) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the robot assisted percutaneous coronary intervention (PCI) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Robot Assisted Percutaneous Coronary Intervention (PCI) Market Scope
The robot assisted percutaneous coronary intervention (PCI) market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Product Type
- Robotic systems
- Instruments
- Accessories
End User
- Hospitals
- Cath labs
- Others
Global Robot Assisted Percutaneous Coronary Intervention (PCI) market Regional Analysis/Insights
The robot assisted percutaneous coronary intervention (PCI) market is analyzed and market size information is provided by the country, product type and end user.
The countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, rest of Europe, Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, and rest of Middle East and Africa.
North America is expected to dominate the market due to the increasing funding for research and development in surgical robots.
Asia-Pacific is expected to exhibit the highest growth rate during the forecast period of 2024 to 2031 due to the growing awareness about minimally invasive surgeries, unhealthy dietary patterns and the ever-rising geriatric population.
The country section of the robot assisted percutaneous coronary intervention (PCI) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Robot Assisted Percutaneous Coronary Intervention (PCI) Market Share Analysis
The robot assisted percutaneous coronary intervention (PCI) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to robot assisted percutaneous coronary intervention (PCI) market.
Some of the major players operating in the robot assisted percutaneous coronary intervention (PCI) market are:
- Stryker (U.S.)
- Medtronic (U.S.)
- Intuitive Surgical (U.S.)
- Zimmer Biomet (U.S.)
- Smith+Nephew (U.S.)
- Asensus Surgical US, Inc. (U.S.)
- Medrobotics Corporation (U.S.)
- THINK Surgical, Inc. (U.S.)
- Auris Health, Inc. (U.S.)
- CMR Surgical Ltd (India)
- Medtech Life Pvt. Ltd (India)
- Corindus, Inc. (U.S.)
- Renishaw plc (U.K.)
- Medical Devices Business Services, Inc. (U.S.)
- meerecompany Inc. (South Korea)
- Titan Medical Inc. (Canada)
- Venus Concept (Canada)
- Accuray Incorporated (U.S.)
- Stereotaxis, Inc. (U.S.)
- KUKA AG (Germany)
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