Stryker, Smith & Nephew, Zimmer Biomet Market Share in Microsurgery Robot Market| Key Players: Medtronic, Auris Health, Inc, Titan Medical Inc, TransEnterix, Inc, Mazor Robotics, Medrobotics Corporation
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2.Smith & Nephew
5.Auris Health, Inc
6.Titan Medical Inc
Increasing number of chronic diseases will spur the need for microsurgical robot in upcoming years. Chronic conditions such as cardiovascular disease, cancer, neurological disorders and high blood pressure escalate the need for surgical procedures. As robotic-assisted surgery offers wide array of benefits compared to non-robotic surgeries, its demand will increase. Microsurgery robots have huge applicability, including cardiovascular surgeries, neurological surgeries, and oncological surgeries. Use of advanced surgical robot for surgeries in hospitals and ambulatory surgical centers will in turn increase number of robotic-assisted surgical procedures, in foreseeable future. This will positively impact adoption of microsurgical robot, thereby driving industry growth during the forecast period.
Urology surgery segment held largest revenue, contributing to USD 140.9 million in 2017. Segmental growth is attributable to rise in number of prostatectomies worldwide, owing to rising incidence of prostate cancer. According to British Association of Urological Surgeons (BAUS), in 2014, 77% of patients suffering from prostate cancer underwent prostatectomies as primary treatment. Of these prostatectomies, around 50% procedures were performed with robotic assistance. Increasing incidences of prostate cancer and high adoption of microsurgical robots in oncology application will favor segmental growth over forecast timeframe.
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Hospitals segment was the largest segment in 2017 with revenue size of USD 346.4 million. Increasing number of surgical procedures owing to rise in number of chronic conditions will lead to segmental growth. Various reimbursement policies in developed economies for treatment purposes and growing healthcare expenditure in developing economies will favor segmental growth during the forecast period.
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