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What is the Scenario of Global Robotic Surgery market? by Ankur Gupta





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What is the Scenario of Global Robotic Surgery market? by
Article Posted: 12/11/2017
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Articles Written: 1063
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What is the Scenario of Global Robotic Surgery market?


 
Health
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, 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. 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. 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. 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. 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 AAMC’s (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. 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. Source:https://www.kenresearch.com/healthcare/medical-devices/global-robotic-surgery-market/142287-91.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-1244230204


Related Articles - Intuitive Surgical Market Share, Korea Surgical Robot Market, Mako Sales in Us, Medical Robots Market,

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