By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America micro robots market accounted for the largest market share in 2022. This is attributed to the growing financial capacity to invest in robotic systems, anticipated collaborations with among companies, rising acceptance of surgical robot use in clinical settings, and growing public awareness of computer-assisted procedures. In addition, numerous manufacturers in North America are striving to develop innovative and creative microrobots, which is anticipated to increase sales of microrobots.
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.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: MICRO ROBOTS MARKET BY REGION 2022 & 2030 (USD Bn)
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Europe micro robots market is expected to account for the second-largest market share due 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. Further, the Germany market of micro robots was attributed to holding the largest market share, and the UK market of micro robots is expected to fastest-growing market in the European region.
The Asia-Pacific micro robots market is expected to grow at the fastest rate from 2023 to 2030. This is due to the increased chronic disease prevalence, an aging population, the creation of new products, and an increase in the number of international players operating in the region. Moreover, China market of micro robots is expected to hold the largest market share, and India market of micro robots is expected fastest-growing market in the Asia-Pacific region.
Furthermore, India is rapidly expanding in terms of healthcare research and development, whereas Japan has a robust research infrastructure and is home to significant pharmaceutical companies. In addition, China presently outpaces the US in terms of robot density and is expected to have significant growth potential in the microrobot industry due to its large expenditures in industrial automation, in the market for the micro robots.
The Rest of the World includes 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.
Leave a Comment