Medical Robots Market, Robotics Technology Global

1
What Is The Scenario of Global Robotic Surgery
Market?
2
Rise in need for faster recovery, reduced pain
and discomfort has led to growth of global
robotic surgery market in the past few years.
Owing to rising adoption of minimally invasive
surgeries, the market for global robotic surgery
grew at a healthy CAGR of during 2012-2017
from USD million in 2012 to million in 2017.
During the concerned period, market grew
predominantly due to increase in sales of da
Vinci systems across the world and surgical
procedures performed by them. The number of
installed da Vinci systems grew from in 2012 to
in 2017 and the number of surgical procedures
conducted inclined from 359,000 in 2011 to
753,000 in 2016. The market growth was also
aided due to the commercial launch of several new
systems in the US and/or Europe and other
territories. Some of the surgical robots approved
and commercially launched included MAKO,
OMNIBotics, ARTAS, ROSA, NAVIO, TSoultion One,
Neuromate,
3
Mazor X and Renaissance for a variety of
indication such as spine and brain surgeries,
total/partial knee and total hip arthroplasty and
hair transplant. Over spine and brain surgeries
and more than total/partial knee and total hip
replacement procedures were performed using
surgical robots in 2017. International expansion
has been slow over the past decade due to the
fact that the majority of these companies are US
based. Most companies have been focused on
gaining regulatory approvals from the FDA and
subsequently market the product aggressively
before launching the systems elsewhere in the
world. The process of individually gaining
approval in various countries has slowed the
growth of the entire surgical robotics industry.
Additionally, all robotics companies face the
challenge of convincing hospitals to purchase
systems that are usually priced in excess of USD
1 million.
4
Which Segments are doing Well in Global Robotic
Surgery Market? North America accounted for the
highest market share ( ) in 2017, in terms of
revenue. This was primarily due to high standards
of healthcare infrastructure, high patient
awareness levels and high healthcare expenditure
by consumer and government as compared to other
regions of the world. Over of the North
American revenue was due to high adoption of
robotic surgery systems in the US. The US market
for surgical robotics has been driven by the
financial capability of hospitals to invest in
these systems, strategic collaboration with
insurance players, rising patient acceptance
owing to superior post-operative outcomes, and
general awareness about computer-assisted
surgeries. Of the 3,919 da Vinci systems
installed worldwide, 2,563 of them were installed
in the US alone. Europe, Asia-Pacific and Rest of
the World (ROW) comprised for , and
market share as of 2017, respectively.
5
Snapshot on Us Robotic Surgery Market The US
accounted for more than of the overall robotic
surgery market in 2017, in terms of revenue.
Hence, the US robotic surgery market stood at
over USD billion in 2017. High healthcare
standards, financial capability of hospitals to
invest in these systems, strategic collaboration
with insurance players, rising patient acceptance
owing to superior post-operative outcomes, and
general awareness about computer-assisted
surgeries have led to high adoption of
robot-assisted surgeries in the US. The US is at
the forefront of medical research and is more
often the first country to adopt new, innovative
surgical robots for a variety of indications.
Although robot-assisted surgeries are expensive,
insurers pay no more for surgeries that utilize
robotic systems than for other types of
minimally-invasive procedures, such as
laparoscopy. Higher treatment cost with surgical
robots has resulted in slower adoption of robotic
surgeries amongst the citizens of the US.
6
Major Companies A vast majority of the companies
developing and marketing surgical robots are
based out of the US. This includes the market
leader Intuitive Surgical, which generated about
of its entire annual revenues from the US
itself in 2016. Several other major players in
this sector such as Accuray, Stryker, Zimmer
Biomet, OMNIlife Science, Think Surgical,
Restoration Robotics, Medrobotics, TransEnterix
and Auris Surgical are based in the US. Even
those companies which are not based out of the
US, sale of robotic systems in the US contributed
for a fair portion of their overall annual
revenues. In terms of product development, US
based medical device companies clearly dominated
over others in developing surgical robots
indicated for radio surgery, hair transplant and
soft tissue surgeries involved in urology,
gynecology, cardiothoracic and general surgical
procedures.
7
Market Potential At present, the US is currently
experiencing a severe shortage of general
surgeons. The number of total active physicians
in all specialties rose less than 2 annually to
860,939 in 2015 from 799,501 in 2010, according
to the AAMCs (Association of American Medical
Colleges) 2016 Physician Specialty Data Report.
The US will face a shortage of between 61,700 and
94,700 doctors by 2025, according to AAMC. As of
2016, only of the million applicable soft
tissue surgeries were performed using robotic
surgical technology. Da Vinci system for soft
tissue surgeries were installed in about US
hospitals, with potential to be installed in over
more hospitals and ambulatory surgical
centers. The number of total hip replacement
procedures in the US was approximately each
year, and is expected to increase threefold by
2030.
8
The demand for total-knee replacements is
expected to increase more than six fold by 2030
from current each year. Within five years,
of all surgeries in the US, more than double the
current levels, are expected to be performed with
robotic systems. Sourcehttps//www.kenresearch.c
om/healthcare/medical-devices/global-robotic-surge
ry-market/142287-91.html Contact Us Ken
Research Ankur Gupta, Head Marketing
Communications sales_at_kenresearch.com 91-124423020
4