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
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