Surgical Robots Industry Analyst Reports Forecasting Market Players Like Intuitive Surgical, Accuray Inc., MAZOR Robots, Restoration Robots, Inc., Medtech Global, Hansen Medical, Verb Surgical Inc., TransEnterix, Stryker
Major Players: Global Surgical Robots Market
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Segmentation: Global Surgical Robots Market
Global Surgical Robots Market, By Product (Robotic Systems, Instruments and Accessories, Service), By Brands (da Vinci Surgical System, CyberKnife, Renaissance, Artas, ROSA and Others), By Application (General Surgery, Urological, Gynaecological, Gastrointestinal, Radical Prostatectomy, Cardiothoracic Surgery, Colorectal Surgery, Radiotherapy and Others), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Drivers: Global Surgical Robots Market
The rising aging population, rising cases of acute and chronic diseases and better benefits to patients and surgeons are the key driving factors in the global surgical robots market.
RISING AGEING POPULATION
With increasing age, the patient pool for chronic disease is rising. Older populations are more prone to diseases such as diabetes, allergies, arthritis, cardiovascular diseases, infections, gastrointestinal and other problems. For instance, according to U.S. census the number of people age 65 and older in the United States on July 1, 2015 were 47.8 million as well as according to Administration for Community Living (U.S. Department of Health and Human Services), the elderly population- with age 65 years or older were around 46.2 million in 2014, they represented 14.5% of the U.S. population and it is expected that this will grow to 98 million by 2060, more than twice their number in 2014.
With the increasing ageing there are several health issues that affects the senior citizens like osteoarthritis, osteoporosis, cardiovascular diseases, Alzheimer’s disease, diabetes among others which leads to a surge in the demand for surgeries. As there are limited number of doctors whereas the demand for surgery is more, in such a situation surgical robots are very helpful, they help to reduce the time span of each surgery and makes sure that everyone gets treated. Hence, ageing population is expected to drive the market for the surgical robots
RISING CASE OF ACUTE AND CHRONIC DISEASES
The prevalence of diseases and conditions such as cardiovascular diseases, diabetes, Alzheimer’s disease, Parkinson’s disease, cancer and many others over the period of time.
Mention below is some of the statistics related to the chronic disease
According to Chronic Disease Prevention and Health Promotion as of 2012, about half of all adults—117 million people—had one or more chronic health conditions. One in four adults had two or more chronic health conditions
According to European commission, in 2012, chronic diseases in Europe accounted for 86% of all deaths.
According to Centers for Disease Control And Prevention (CDC) also states that in America, each year 7 of 10 deaths are caused due to chronic diseases.
According to the Australian Institute of Health and Welfare, in 2011, chronic diseases were the leading cause of illness, disability and death in Australia and it accounted for 90% of all deaths
Mention below is healthcare cost spend on acute and chronic diseases:
In the European Union, an estimated USD 778.06 billion is spent per year on treating chronic diseases. Many of these chronic diseases require frequent medical aid.According to Centers for Diseases Control and Prevention(CDC) around 86% of the healthcare costs in the U.S. for treating people with chronic disease
With the increasing prevalence of chronic diseases the demand for development and innovation of drugs and devices is increasing. This growing demand has provided an opportunity for the pharmaceutical companies to focus on introducing various products in the market in order to meet the rising demand for targeted drug delivery systems. Due to this rising demand the pharmaceutical companies are focusing on developing surgical devices like robots systems, instruments and, accessories and services, which are compatible and easy to use by the doctor, reduces the time taken for the surgery and many others, this has contributed to the demand for the surgical robots. For instance, in 2016, Intuitive Surgical and Fosun Pharma agreed to establish a joint venture to research, develop, manufacture and sell robotic assisted catheter-based medical devices. This joint venture will initially produce products targeting early diagnosis and cost-effective treatment of lung cancer, one of the most commonly diagnosed forms of cancer in the world
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The global surgical robots market highly concentrated to a few big players and rest to local players who cater to domestic markets only. Intuitive Surgical is going to dominate the global surgical robots market followed by Accuray Inc., MAZOR Robots, Restoration Robots, Inc., Medtech Global, Hansen Medical, Verb Surgical Inc., TransEnterix, Stryker, and some of the upcoming players are Auris Surgical Robots, MedRobots Corporation, Virtual Incision Corporation, Think Surgical, Inc., Preceyes B.V., Medtronic, among other.
INTUITIVE SURGICAL, INC:
Founded in 1995 and headquartered in Sunnyvale, California, U.S., Intuitive Surgical, Inc. is one of the leading companies in robotic- assisted minimally invasive surgery. Intuitive Surgical designs, manufactures, develops and markets robotic technologies and other related instruments and accessories. The company’s operations span across U.S., Europe, and Asia-Pacific.
Intuitive surgical operates through three business segments: systems, instruments and accessories, and services and training. Intuitive Surgical’s Da Vinci Surgical System is comprised of following components; surgeon console, patient side cart, 3-D vision system, 3-arm Da Vinci Surgical System. Its instruments and accessories segments include EndoWrist instruments and intuitive accessories.
Mazor robotics was founded in 2001 and headquartered in Caesarea, Israel. Mazor robotics is engaged in the development, production, and marketing of medical devices used for surgical procedures in the fields of neurosurgery and orthopaedics. Mazor robotics operates in the field of image guided surgery and computer assisted surgery. Mazor robotics introduced its product renaissance for brain surgery. The company’s operations span across Australia, China, Germany, Hong Kong, Italy, Japan, Korea, Russia, Taiwan, Thailand, Vietnam, U.S. and Israel.
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