The robotic catheterization systems market is expected to grow at a 14.8% CAGR through 2029, reaching US$ 42.9 million in 2022. According to Future Market Insights, percutaneous coronary intervention applications will account for roughly 73.9% of the robotic catheterization systems market worldwide in 2021.
Interventional and surgical robotic systems have already made a significant impact on how surgeries are performed and are being increasingly adopted in modern operating rooms. Robotic catheterization systems have proved their abilities to perform interventional procedures with immensely low operator radiation exposure in comparison to the tradition catheterization procedures.
Procedures where clinicians are given navigational and mechanical tools that permit definite actions or part of the procedure to be executed autonomously with a level of precession and control are possible only with robot-assisted catheterization.
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Key Takeaways – Robotic Catheterization Systems Market Study
- Popularity of robotic catheterization systems, increasing system awareness, improving reimbursement scenarios for percutaneous coronary intervention (PCI), larger patient pool for coronary artery diseases are key factors influencing the robotic catheterization systems market in developed countries.
- High upfront cost is posing a negative impact on end users’ decision to purchase robotic catheterized systems. To rework this problem, Hansen Medical is offering sensei system at a competitive pricing depicting lower accessory cost and lower total cost per procedure.
- Robotic catheterization systems installed in Chesapeake Regional Healthcare marks as the first fully integrated catheterization laboratory installed in its all intervention operating room.
- In terms of product type, electromechanical robotic catheterization systems with comparatively higher technical advantage over magnetic-guided robotic catheterization systems is expected to generate significant revenue.
- In terms of application, increasing adoption of robotic catheterization for percutaneous coronary intervention as compared to cardiac electrophysiology procedure marks higher revenue potential.
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Market Leaders on Acquisition Spree
In reference to the trend in other medical device markets, key factors impacting the robotic catheterization systems market are partnerships and mergers observed in recent years. Key manufacturers are entering the robotic catheterization systems market by strategically expanding their reach through acquisitions and mergers, considering the increasing demand for these systems.
Product bundling of robotic catheterization and accessory systems at promotional rates and research contracts are forcing a decline in ASPs. Companies are focusing on limiting operational expenses to grow profitability. In contrast to these market changes, another significant factor influencing the robotic catheterization systems market is the exit and entrance of co-participating companies.
In August 2022, Corindus Vascular Robotics Inc., a prominent developer of precision vascular robotics, declared that it has settled on acquisition by Siemens Healthineers AG., representing a collective purchase price of approximately $1.1 billion.
In April 2016, Hansen Medical Inc. was acquired by Auris Surgical Robotics Inc. in an arrangement with roughly US$ 80 Mn of equity value. With Hansen portfolio, Auris attained Magellan Robotic System, employed in navigating peripheral blood vessels in endovascular procedures, and Sensei Robotic System, a robotically steerable catheter system.
Key Segments:
By Product:
- Electromechanical Robotic Catheterization Systems
- Magnetic-Guided Robotic Catheterization Systems
By Application:
- Percutaneous Coronary Intervention
- Cardiac Electrophysiology Procedures
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Catheterization Laboratories
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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