Steerable Robotic Catheters Market: Introduction

  • Steerable robotic catheters are minimally invasive medical devices that have wide application in cardiac surgery, vascular surgery, neurosurgery, orthopedic surgery, gastrointestinal surgery, and uterine surgery. Steerable robotic catheters are manipulated by a mechanism, which may be driven by operators or actuators.
  • Steerable catheter is characterized by a small thin and flexible tube placed into vascular system, gastrointestinal tract, and airway system for both, diagnosis as well as treatment
  • Steerable robotic catheters offer several advantages over conventional catheters. Steerable robotic catheter allows high levels of control over distal tip, improved access to complex anatomical structures, better catheter stability, and decreased radiation exposure to both physicians as well as patients.

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Global Steerable Robotic Catheters Market: Key Drivers

  • The global steerable robotic catheters market is primarily driven by high prevalence of cardiovascular disorders, neurovascular disorders, cancer, and orthopedic disorders across the globe  
  • According to the World Health Organization (WHO), cardiovascular disorder is the main cause of deaths across the globe.  According to WHO, in 2016, more than 17.9 million people died globally due to cardiovascular disorders.
  • Rise in adoption of minimally invasive surgeries, owing to their several advantages, such as, shorter hospital stays, lesser cuts on body, shorter wound healing time, and less traumatic etc., as compared to open surgeries, is likely to fuel the growth of steerable robotic catheters market during the forecast period
  • Technological advancements in steerable robotic catheters, including the development of magnetic navigation catheters, is anticipated to drive the steerable robotic catheters during the forecast period

Tendon Driven Catheters Segment to Witness Attractive Opportunities

  • In terms of product type, the global steerable robotic catheters market can be divided into tendon driven catheters, magnetic navigation catheters, soft material driven catheters, and hybrid actuation catheters. Tendon driven catheter is likely to be the leading segment of the market during the forecast period.
  • Tendon driven catheters are used to manipulate distal tip of steerable catheters.  These catheters consist of single flexible backbone that supports the tendons. Backbones are made of a variety of materials, such as springs, elastic tubes, braided polymers, and Nitinol alloys.
  • Soft material driven catheters are made of the Nitinol family materials and possess high plasticity, high steerability and torque ability, biocompatibility, and are kink-resistant
  • Magnetic navigation catheters are navigated by placing large magnets on either side of the patient’s body and generates a magnetic field around the patient.  Physicians then manipulate the magnetic field for deflecting the distal tip of catheter inside the patient’s body to the desired location. 

Cardiac Surgery Segment to Dominate Global Market

  • In terms of application, the global steerable robotic catheters market can be segmented into cardiac surgery, neurosurgery, vascular surgery, orthopedic surgery, uterine surgery, and others. The cardiac surgery segment is estimated to dominate the global market during the forecast period.
  • High prevalence and rise in incidences of cardiovascular disorders across the globe, increase in adoption of minimally invasive surgeries in cardiovascular discipline, and wide applications of steerable catheters in cardiology are estimated to fuel the growth of the cardiac surgery segment during the forecast period.
  • The neurosurgery segment is projected to grow rapidly during the forecast period, owing to new product launches, increase in adoption of steerable catheters in neurosurgery, and favorable reimbursement policies in developed countries

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North America to Dominate Global Steerable Robotic Catheters Market

  • In terms of geography, the global steerable robotic catheters market can be segmented into: North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is likely to dominate the global market during the forecast period and is estimated to gain market share marginally by 2027.
  • High prevalence of cardiovascular, neurological, and orthopedic disorders among adults in the U.S., prevalence of lifestyle-related disorders, and favorable medical reimbursement policies are estimated to drive the North America steerable robotic catheters market during the forecast period. Moreover, significant rise in the adoption of minimally invasive surgeries in various medical indications, large base of medical device companies in the region, and high per capita health care expenditure are likely to contribute to the growth of the steerable robotic catheters market in North America during the forecast period.  
  • The steerable robotic catheters market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period. The growth of the market in the region can be attributed to rapid development of health care infrastructure, rise in access to health care, and high prevalence of cardiovascular and neurological disorders in densely populated countries such as India, China, and Hong Kong.

Key Players Operating in Global Market

The global steerable robotic catheters market is highly consolidated with few international players holding a key share of the global market. Some of the key players operating in the global steerable robotic catheters market are:

  • Boston Scientific Corporation.
  • Johnson and Johnson
  • Stryker Corporation
  • Hansen Medical Inc.
  • Accuray Inc.
  • Corindus Vascular Robotics Inc.
  • Mimic Technologies, Inc.
  • TransEnterix Inc.
  • Other Prominent Players

Global Steerable Robotic Catheters Market: Research Scope

Global Steerable Robotic Catheters Market, by Product Type

  • Tendon Driven Catheters
  • Magnetic Navigation Catheters
  • Soft Material Driven Catheters
  • Hybrid Actuation Catheters

Global Steerable Robotic Catheters Market, by Application

  • Cardiac Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • Vascular Surgery
  • Uterine Surgery
  • Others

Global Steerable Robotic Catheters Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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