Global Robotic Surgery Market Report
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1 Global Robotic Surgery Market Report
2 Executive Summary One of the many revolutionary developments in the field of medical science has been the development of next generation robot assisted surgical devices and other related technologically advanced equipment that have made significant contribution to the very existence of human race. A surgical robot is a computer-controlled device that can be programmed to aid the positioning and manipulation of surgical instruments. The medical fraternity world over has witnessed a completely rejuvenated phase of healthcare as a result of the automation of surgeries which offers unprecedented accuracy, precision and enhanced dexterity for surgeons, faster recovery period, coupled with reduced pain and discomfort for patients. The worldwide market for surgical robots holds significant promise and is poised to gradually replace traditionally adopted methods of surgeries. The integration of technology with the medical field has increased the use and demand of robot assisted surgical systems in both developing as well as developed economies. The US claims the maximum amount of robotic procedures, while penetration rates are quite low globally, thus highlighting the evident pool of opportunities for the growth of the robotic surgery market. The growth in robotic surgery market is attributed mainly to the increasing incidences of various diseases such as arthritis, cancer and cardiovascular diseases that usually require surgical treatment of the condition. Growth drivers such as aging of the global population, especially in the developed countries, will also trigger the growth of this market since elderly people carry a high risk in terms of success of the surgery and MIS would ensure minimal trauma to the already compromised health of the patient. Similarly, in the constantly increasing patient pool, aging population and rising healthcare expenditures will also augment the growth of the market. Moreover, a very critical role is also played by favorable clinical data that has been observed over the years that has caused shift from traditional methods of minimally invasive surgeries to robot assisted techniques. The global robotic surgery market is dominated by Intuitive Surgical s da Vinci Surgical System. Over the period da Vinci hospital robot placements and procedures have skyrocketed and it is been embraced by top surgeons around the world. The da Vinci System features a magnified 3D highdefinition vision system and tiny wristed instruments that bend and rotate far greater than the human wrist which enables the surgeon to operate with enhanced vision, precision, dexterity and control. da Vinci is widely used in procedures like hysterectomies and prostatectomies. The report, Global Robotic Surgery Market analyzes the development of the global robotic surgery market, with a focus on application of da Vinci system worldwide. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The three major players in the industry, Intuitive Surgical, Inc., Hansen Medical, Inc., and Accuray, Inc. are being profiled, along with their key financials and strategies for growth. By combining SPSS Inc. s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
3 US$ Billion US$ Billion US$ Billion The integration of technology with the medical field has increased the use and demand of robot assisted surgical systems in both developing as well as developed economies.. Global Medical Robotics and Computer Assisted Surgery Market Size ( ) The global market for medical robotics and computer assisted surgery (MRCAS) was valued at US$.. billion in 2013 as compared to US$... billion in 2012, displaying a staggering rate growth of %. The US market for medical robotics and computer-assisted surgical equipment was noted to be US$... billion and US$... billion in 2013 and 2012 respectively, accounting for nearly % of the global market share. For 2013, revenue of global minimally invasive market was US$ billion and the same is expected to reach US$... billion by 2019, growing at a CAGR of about % during the cited period. The US Medical Robotics and Computer Assisted Surgery ( E) Global Minimally Invasive Device Market ( E) E E
4 Annual da Vinci Procedure Annual da Vinci Procedure Annual da Vinci Procedures The global robotic surgery market is dominated by Intuitive Surgical s da Vinci Surgical System. Annual da Vinci Procedures ( ) In 2013, Intuitive Surgical had a da Vinci install base of approximately. systems in over 50 countries as compared to the installed base of in 2012, thereby marking a growth of %. In 2013, approximately surgical procedures were performed with the da Vinci Surgical System, compared to approximately.. and. procedures performed in 2012 and 2011, respectively. Of total da Vinci procedures performed in 2013, approximately..were dvh procedures and approximately were dvp procedures. da Vinci Prostatectomy Procedure Growth ( ) da Vinci Hysterectomy Procedure Growth ( )
5 US$ Billion Growing global GDP, rising ageing population and ameliorating healthcare expenditures are chief factors that will drive the market Global Medical Robotics and Computer Assisted Surgery Market Forecast ( E) E 2015E 2016E 2017E The global MRCAS market is forecasted to reach US$... billion by 2017 compared to value of US$... billion in 2013, at the compound annual growth rate of around % between 2013 and The GDP is directly related to global medical robotics and computer assisted surgery market as the income levels determine living standard and healthcare expenditure of people. Thus, increasing income will increase the demand for robotic surgeries. The global ageing population is directly related to the global medical robotics and computer assisted surgery market due to the fact that minimally invasive surgery is most preferred in age related diseases, thus driving increased use of robotic devices and systems. Healthcare expenditure growth directly corresponds to the increasing hospital spending, which will in turn, leads to the augmentation of robotic surgery systems and other related technological developments.
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