Occams Business Research & Consultancy

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1 Occams Business Research & Consultancy Business Research Consultancy v4040/ Publisher Sample Phone: (US) or or (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST customerservice@marketresearch.com MarketResearch.com

2 Healthcare Occams Business Research and Consulting GLOBAL MEDICAL ROBOTICS MARKET BY APPLICATION (ORTHOPEDIC, NEUROLOGY, LAPAROSCOPY) TYPE (SURGICAL ROBOT, REHABILITATION ROBOTICS, TELEMEDICINE, ASSISTIVE ROBOTS, ORTHOTICS,PROSTHETICS, RADIO SURGERY, EXOSKELETON) - SEGMENTATION AND FORECAST

3 ealthcare robotics is a nascent but growing market with huge scope in the future. The complex and critical surgeries are being performed through robotic technologies such as minimally invasive surgeries. Such technique enables surgeons to perform various Hcritical surgeries such as the prostate cancer, brain tumor, artery bypass, valve repair and replacement, arterial fibrillation amongst others. The surgeries are performed with minimal incision to avoid scars and blood loss. The recovery of patients is faster with less amount of pain compared to open surgeries. Robots were used in nearly half a million surgeries in the US in 2013 a rise of 15% over The global robotics market is estimated to be $6500 million by the year Global Healthcare Robotics Market by Segments (In $Million), Healthcare Robotics Surgical Pharmacy and Hospital Automation Total CAGR% ( ) XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX Besides the fact that robotic surgery is a minimal invasive surgery and can save the patient a great deal of in-patient time, there are some other important drivers to the robotic healthcare market. Overcome Driving Force that Accelerates the Market: The driver acts as a catalyst and accelerates the market. The drivers are the key factors when it comes to healthcare robotics. The market is very specific and could be revolutionary in the coming future. Minimally invasive Surgeries: These surgeries have been revolutionary and are adopted all over the world. The minimally invasive surgeries were approved in the year 2001 by the U.S. FDA (Food and drug administration), however, it was widely used after the year The surgery of hysterectomy was first performed in the U.S. in There are various surgeries that could be done through Occams Business Research and Consulting 2

4 minimally invasive surgery method. By this technique the prostate cancer, brain tumor, artery bypass, valve repair and replacement, arterial fibrillation, implantation of epicardial pacing wires to boost the pumping action of heart in stroke cases, treatment of arterial septal defect in congenital heart conditions and so on could be treated effectively. There are minimal incisions in these surgeries to avoid pain and scars on the patient's body. Both the actual surgery time and the recovery time is shorter than conventional surgery. Most recoveries take 2-3 days in the hospital and the patient is allowed to go home. In less than a week a patient could start living his normal life even in major surgeries such as brain tumor, hysterectomy surgeries and so on. The patient awakes in less than a minute just after the surgeries without much pain and difficulty. The robotic surgeries are FDA approved and due to minimal exposure, there is little chance of bacterial infection. FDA had put in many procedural checks and balances in place to ensure patient safety. The surgeons keep all the safety measures during the surgery before starting any operations. The robots are swift, agile and acts according to the surgeons hand movements. The surgical knife and other arms of the robotic machines are operated by the surgeons for better operations. The robot is controlled by the highly skilled surgeon and every minute cut is done at surgeons will. The magnified 3D view enables the doctors to cut tissues and perform other operations effortlessly. The surgeons perform the surgery in quick succession of time and without any large ungainly scars in the body. The robotic machineries enable the surgeons a streamline operations, the 3D visualization enables the surgeon to visualize tissues in critical anatomy. Minimally invasion surgeries enable a patient for quick recovery; tiny incisions are generally preferred which leaves no big scars on patient's body. It is expected that in the coming future kidney transplant through tiny insertions would be possible. Moreover, the conventional methods in open surgeries leave large scars behind which exist throughout the patient's life. It gives painful experience to the patient during surgeries unlike the minimally invasive surgeries. The conventional human hand operated surgeries generally results into long lasting problems such as hints of pain and scars on the body. It normally takes 6 months to recover for a patient treated with conventional method unlike minimally invasive surgeries. The U.S. and Germany has been exploring in the healthcare robotics. The robots have been widely used by urologists, cardiothoracic, gynecologists, pediatrics and general surgeons. Cholecystectomy, Adrenalectomy, rectopexy, cardiomyotomy and hernia surgeries are being performed through robotic technology. The surgeries such as cystectomy, partial nephrectomy, gastric bypass, and gastrectomy have been improved with the robotic technology. It has been found that the minimal invasive surgeries have higher recovery rate compared to Occams Business Research and Consulting 3

5 The South Korean government announced to invest $500 million in robotics industry which would boost the robotic market. The European Union will invest $125 million a year, for advancement in healthcare robotics domain open surgeries. The patients recover faster and spend shorter periods in the hospitals. Through minimal invasions, smaller incisions enable to avoid big scars on the patient's body. The patients experience very less pain in such surgeries compared to the open surgeries. The surgery has negligible or no harm to tissues and muscles through the surgeries. The surgery with minimal invasion also enables to avoid blood loss. Da Vinci surgical system: Introduced by intuitive surgical inc. for prostatectomy cardiac valve repair and gynecologic surgical. The device has four arms, three carry tools while one carry camera with two lenses for better vision to the doctor. The device was approved by FDA and it is first used in the U.S., it costs around $0.1 million. The critical surgeries such as hip replacement, hysterectomy, Cholecystectomy, gastric bypass, brain tumor surgeries and so on are effectively done by Da Vinci robots. The programmed and the sensors enable them to work according to the surgeon. Pouring investment globally in healthcare robotics: Healthcare robotics is considered to be very promising, due to which various nations have been investing in this domain. Nations such as Germany, Korea, China and the U.S have been consistently investing in this domain. Japan invested $138 million in robotics however, due to regulations has lagged behind, however, the trends indicate that in the coming future Japan would also aggressively enter this area. The South Korean government announced an investment of $500 million in robotics industry which would boost the robotic market. The European Union will invest $125 million a year, for advancement in healthcare robotics domain. The healthcare domain will be technologically sound and effective in the coming future. The companies such as Intuitive, Hitachi medical system, Kawasaki, Panasonic have been pouring in money into R&D to constantly improve the products on offer. In September 2014, Corindus Vascular, a developer of precision vascular robotics had raised $26.6 million for healthcare robotics through security purchase agreement pursuant. Similarly the other robotic companies have raised millions of dollars through equity market. The companies would effectively use the capital in innovation and enhancement of the robots in healthcare. Houston Medical Robotics Inc has been contributing in medical robotics and other therapeutic applications. The company raised $2.2 million from Citare Tx investment partners. Occams Business Research and Consulting 4

6 Besides life saving surgeries, companies have made an investment foray in cosmetic surgery too. There are lots of hair implantation treatments being done through robots and the enhancement is done through various research projects. The ARTAS robotic hair transplant company raised $45 million in series C extension in the robotic hair transplant systems. The investments would enable the companies to cut cost of the treatment and reduce the time which is high in the present time. The time consuming process and cost becomes hurdle for the adoptability of this robotic technique. However, in the coming future there would be reduction in both time and cost for hair implant and related treatments. Government Support for healthcare robotics: In the coming years the government of various nations would be more inclined towards deregulation for healthcare robotics. The governments of various nations such as Japan and Korea have realized the importance of robots in various domains such as healthcare. Various initiatives have been taken to enhance healthcare robotics such as recently Japan had declared to deregulate healthcare robotics and ease the norms so that treatment could be done through robotic technology. Additionally, The U.S., Korea, China and Germany have shown flexibility towards healthcare robotics and achieved great heights. The first robotic surgery was done in the U.S.; the success triggered the other nations to heed towards the utility of healthcare robotics. Similarly, the other nations such as Japan and China have been striving hard to contribute in the healthcare robotics. Healthcare robotics would be key pillar of growth in the future, when robots would be highly commercialized in various domains. The funding from government and private sector is expected to increase more on various announcements by the governments. The investment of Google in Schaft triggered the inflows of funds in healthcare robotics. Moreover, NEDO (New Energy and Industrial Technology Development Organization) of Japan recruited Kawasaki and Panasonic to improve the healthcare division of robotics. It would trigger advancement in the healthcare robotics. The rival Da Vinci would get tough competition from the new recruiters. The healthy competition would enable the surgeons to get innovative technologies. Japan would soon perform critical brain surgery with robotic technology. The present scenario indicates that in the coming future the other clinical trials through healthcare robotics would be possible in China has been performing well in the healthcare robotics, it is estimated that one third of its own robots would be manufactured within the country for commercialization. The safety standards are being taken care and the robotic devices offered by the companies fulfill the U.S. FDA guidelines. The Korean government introduced robotic language as second language in various schools to get used to robots. The nation also has a beautiful robot theme park. Occams Business Research and Consulting 5