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Robotic Catheter Systems Market Size, Applications and Share Insights
Witnessing a CAGR of 5.2% during the forecast period (2019–2024), the global robotic catheter systems market is predicted to grow to $656.8 million by 2024, witnessing a significant jump in its revenue from $493.5 million in 2018.
By: P&S Intelligence
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The robotic catheter systems market is categorized into Middle East & Africa, Latin America, Asia-Pacific, Europe, and North America based on region. In 2018, the highest revenue generator in the market was North America, and in the forecast period as well, it would continue to dominate the market, in terms of revenue.
The major driving factors of the regional market are the high adoption of these systems for cardiovascular diagnostic and therapeutic procedures in hospitals and clinics and the large presence of key manufacturers.
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One of the major factors driving the growth of the robotic catheter systems market are the reduced risk of occupational hazards for cardiologists. Many surgeons have reported suffering from occupational hazards while performing interventional cardiology procedures.
The modem catheterization laboratories extensively use ionizing radiation in the form of X-rays, which put the practitioners at a risk of malignancy, including in the head and neck region.
Even though they wear lead aprons, their long-term use may result in orthopedic injuries. To make conducting procedures safer for surgeons, robotic catheter systems are being deployed.
With the technological advancements, the robotic catheter systems market would witness remarkable growth due to the extensive testing of these systems in the clinical trials. Catheterized cardiovascular procedures, such as catheter ablation, are popularly used in modern medicine, but robot-assisted catheterized procedures have not become as popular as their conventional counterparts due to the scarcity of skilled professionals.
Companies, such as CorPath, Amigo, Sensei, and Niobe are commercializing robot catheterization systems, which may contribute in the demand for training people for operating the technology, thereby making them popular among patients and surgeons.
Hence, the market for robotic catheter systems is set to advance in the forecast period as the requirement for safer technologies for carrying out cardiovascular procedures is rising.