Market Research Future (MRFR) has published a cooked research report on the “global Micro Robots market” that contains information from 2023 to 2030.
The micro robots market is estimated to register a CAGR of 16.79% during the forecast period and is estimated to reach USD 104.53 billion by 2030.
Microrobots are incredibly tiny robots with a wide range of applications in many end-user sectors. Their size ranges from a fraction of a millimeter to one millimeter. Micro-robots are capable of managing micrometer-sized components and can complete several production procedures on their own. According to the American Journal of Engineering Research (AJER), In recent years, the Institute of Robotics and Intelligent Systems researchers have developed micron-sized micro-robots that can be powered wirelessly and controlled by magnetic fields. These microrobots are mainly used for robotic exploration within biological domains such as in the investigation of molecular structures, cellular systems, and complex organism behavior.
The Increasing applications of micro-robots in various end-user industries and Increasing demand for minimally invasive surgical procedures are propelling the market growth. However, the high cost associated with robotic systems and Stringent regulatory scenarios is expected to hamper the growth of the global market. Nevertheless, technological advancements in micro-robotics are projected to create lucrative opportunities for market players.
MRFR recognizes the following companies as the key players in the global micro robots market— Thermo Fisher Scientific (US), Seiko Epson Corporation (Japan), QinetiQ (UK), Medtronic (Ireland), Northrop Grumman (US), Clearpath Robotics (Canada), ReconRobotics (US), Techject (US), Rockwell Automation (US), and Thales (France).
The global micro robots market has been segmented based on the mode of operation, material type, and end user.
On the basis of mode of operation, the market is segmented into autonomous, semi-autonomous, and tele operated. The semi-autonomous segment was attributed to holding the largest market share in 2022.
Based on material type, the global micro robots market has been segmented into bio-hybrid and synthetic. The bio-hybrid segment was expected to hold the largest market share in 2022.
On the basis of the end user, the market is segmented into hospitals and clinics, ambulatory surgical centers (ASCs), and others. The hospitals and clinics segment is projected to have the largest market share during the forecast period.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Micro Robots Market Research Report
The global micro robots market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of US and Canada. The Europe micro robots market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The micro robots market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the world micro robots market comprises of Middle East, Africa, and Latin America.
The growing financial capacity to invest in robotic systems, anticipated collaborations with other companies, rising acceptance of surgical robot use in clinical settings, and growing public awareness of computer-assisted procedures, are boosting the growth of the North America region. Additionally, it is anticipated that the incidence of cardiovascular disease would raise demand for minimally invasive operations, increasing the need for robotic surgical equipment in the region.
Moreover, the Europe market has been persistently growing owing to the presence of well-established industrial clusters and R&D centers that focus on developing advanced products for various applications such as healthcare, military & defense, automotive, etc., across different verticals in the region.
Additionally, market factors, such as increased chronic disease prevalence, an aging population, the rising healthcare expenditure, and an increase in the number of international players operating in the region offers lucrative opportunities for players in the micro robots market in the Asia-Pacific region are driving the region’s growth.
Furthermore, the rest of the world's micro robots market is divided into the Middle East, Africa, and Latin America. The main factors influencing the growth of micro robots in the Middle East and Africa are the increase in the geriatric population, recent advancements in robot manufacturing system technology, and the increase in the use of these robotic applications. In addition, governments in this region are also investing heavily in R&D activities to develop new and innovative applications for micro-robots in the region.
Key Findings of the Study