Industry Overview
The global robotic catheter systems market is anticipated to generate revenue of USD 670.5 million by 2024 and is expected to witness CAGR of 5.3% during the forecast period owing to increasing pervasiveness of chronic diseases such as cardiovascular disorders and inclination towards minimally invasive processes across the globe. Additionally, robotic catheterization system enables selective catheterization of the targeted nerve and is considered to be a cost effective treatment and provides extensive opportunities for global robotic catheter systems market to flourish at rampant pace.
Growth Drivers
Extensive pervasiveness of cardiovascular diseases along with reduced risk of occupational hazards for cardiologists is the key factors that are driving the growth of global robotic catheter systems market. Robotic technology is witnessing several advancements at rapid pace and is thus enabling hospitals to deduct the cost of catheterization labs specifically in remote arenas. Furthermore, extensive pervasiveness of chronic cardiovascular diseases such as coronary artery disease and arrhythmia pertaining to sedentary lifestyle and age-related factors is thereby escalating the growth of global robotic catheter systems market.
Geography Insight
Robotic catheter systems market in North America is anticipated to generate largest revenue throughout the estimated period owing to increasing amalgamation of patients that are suffering from cardiac catheterization and cardiovascular diseases that are further accentuating the growth of robotic catheter systems market in this region. Moreover, Asia-Pacific is expected to witness highest CAGR during the forecast period due to increasing adoption of robotic catheter systems in Japan and increasing usage of robotic assisted catheter for treatments and diagnostic procedures in this region.
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Competitive Insight
The eminent key players in the global robotic catheter systems market are undertaking considerable investment decisions in order to gain competitive advantage. Moreover, entering into partnership agreements and performing mergers & acquisitions are the key development strategies being implemented by the crucial players of robotic catheter systems market.
Some of the key players operating in the global robotic catheter systems market include Abbott Laboratories, Corindus Vascular Robotics Inc., Hansen Medical Inc., Stereotaxis Inc., Magnetecs Corporation, Catheter Precision Inc., Biosense Webster Inc., Intuitive Surgical Inc., and Boston Scientific Corporation.
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