Major players in therobotic surgery services market are Intuitive Surgical Inc, Stryker Corporation, Medrobotics Corporation, Johnson & Johnson, Globus medicals, NuVasive, Smith & Nephew plc, Titan Medical Inc, TransEnterix Inc, and University of Pittsburgh Medical Center.
The robotic surgery services market
consists of the sale of services provided Robotic surgical technology, the
highly advanced technological form of non-invasive surgery that utilizes robots
and computer systems to conduct surgeries with lesser incision and more
precision. The commonly used robotic surgical system consists of a mechanical
arm and camera arm attached to surgical instruments with a controlled by a
surgeon being seated at a computer console which is usually in the same room as
the surgical table, or can be around the world.
North America was the largest
region in the robotic surgery services market in 2019. Asia-Pacific is expected
to be the fastest growing regions in the forecast period.
On October 2019 Corindus Vascular
Robotics Inc., a leading developer of precision vascular robotics was acquired
by Siemens Healthineers AG, a German conglomerate of medical technology offering
wide range of products in the fields of diagnostic and therapeutic imaging,
laboratory and point of care diagnostics, and molecular medicine for an amount
of USD 1.1 billion the main aim of this acquisition is to optimize the
procedures and to increase the clinical outcomes by collaborating each other's
technologies, it also opens a new market for Siemens.
The robotic surgery services market
covered in this report is segmented by application into general surgery;
urological surgery; gynecological surgery; orthopedic surgery; neurosurgery;
other applications and by end-users: hospitals; ambulatory surgery centers
(ASCS).
Safety concerns regarding the use
of robotic surgery services are likely to cause a hindrance to the robotic
surgery services market. The FDA Safety communication raised a concern in
February 2019 about using robotic surgery for mastectomy procedures or for the
prevention or treatment of cancer as the effectiveness and safety of these
devices is not established. According to the survey of New England journal of
medicine published in November 2018, the survival rate of patients having
minimally invasive surgery compared to patients having open surgery is lower.
Over the past two decades more than 8,061 device malfunctions, 1,391 injuries,
and 144 deaths occurred in robotic surgery service. Due to such concerns more
products have been recalled from the market. On September 2019 Zimmer Biomet
has recalled its ROSA brain 3.0 robotic surgery system because of a software
problem which can drive the robotic arm to an incorrect position which can risk
patient's life. This was identified as a class 1 recall which is the most
serious kind of classification by the FDA. These safety concerns lead to more
stringent regulations by the regulatory agencies like the FDA, which would in
turn increase the cost and time period for the research and development
activities. Therefore the safety issues pertaining to robotic surgeries leading
to product recalls is expected to hinder the growth of the robotic surgery
services market.
Image guide navigation system
combined with the robotic surgery system offers more possibility to visualize
and perform the minimally invasive surgery in areas which were earlier
difficult, especially the orthopedic surgeries and neurosurgeries. The Mazor X
Stealth system by Medtronic, and the NuVasive's Pulse and Excelsius GPS by
Globus Medical, among others use image guided navigation system to perform
spine surgeries, and orthopedic implant surgeries such as total, partial knee
and hip replacements as they provide the surgeon with 3D experience. The
image-guided navigation reduces the radiation effects and patients do not
require to take an X ray after the procedure. These factors state that the
image guided navigation system is expected to be a trend in robotic surgery
services.
Increase in purchasing power of
hospitals and ambulatory care services has helped in the growth of the robotic
surgery service market. Hospitals and ambulatory care services are interested
in buying latest technologies to provide advanced care to the patients as well
as to achieve an edge over their competitors. According to the fourth quarter
financial results 2019 of intuitive Surgicals, the robotic surgical giant, the
company has shipped around 336 DA Vinci systems during the quarter when
compared to 290 during the fourth quarter of 2018. It has almost 5,582 DA Vinci
systems installed, with a 12% year-over-year increase. More than 1 million
procedures were performed around the world with the DA Vinci In 2018 from
136,000 in 2008. The need for more minimally invasive surgery by growing
geriatric population coupled with the prevalence of chronic disease such as
diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the
demand for robotic surgery services. According to the World Health Organization
(who) report, there will be a 57 % increase in chronic illness. Therefore, the
purchasing power of hospital and ambulatory care services coupled with the
increase in the geriatric population and prevalence of chronic illness have
contributed to the growth of robotic surgery services market.
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Global
Robotic Surgery Services Market
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