GlobalData11.04.19
The global robotic surgery market will expand to $7.4 billion by 2028, at a robust compound annual growth rate (CAGR) of 9 percent, driven by worldwide aging populations, an increasing number of minimally invasive surgeries and expanding demand for value-based healthcare, says GlobalData, a data and analytics company.
Tina Deng, a medical devices analyst at GlobalData, commented: “Robotic surgical systems are designed to solve the limitations currently present in minimally invasive surgeries, as well as improve outcomes in open surgical procedures. Increasing adoption of robotics systems will be fueled by a growing body of clinical data, as well as an increasing number of indications. As robotic systems serve to improve surgical procedures, this will increase the patient population eligible for treatment.”
Earlier this fall, U.K.-based robotic surgery devices company CMR Surgical Limited (CMR Surgical) raised £195 million ($240 million) to finance the global commercialization of its next-generation surgical robotic system, Versius. As a cost-effective, modular and portable system, Versius may threaten the leading position of the da Vinci system from Intuitive Surgical, especially in the Europe and Asia-Pacific regions.
Deng continued: “Unlike large console-based robotic systems, the versatility and affordability of the Versius system broadens its usage in a wider range of minimally invasive surgeries. The system received a CE mark to access the European market this March. With sufficient funding, CMR Surgical has established commercial teams in India, the UK and mainland Europe. As a result, Versius is expected to gain more share in these regions over the next two to three years.”
U.S.-based Intuitive Surgical is by far the largest player in the surgical robotics market, with its flagship da Vinci system, bolstered by years of sales and exposure prior to any competitors reaching the market. Intuitive has been slowly expanding the indications for its da Vinci system, as well as expanding geographically into more countries around the world, leading to even more share.
Deng added: “The U.S. represents the largest market of surgical robotics. CMR Surgical has yet received U.S. Food and Drug Administration approval, but competition has become intense as more players, including Verb Surgical, Titan Medical and medical giant Medtronic, are expected to debut their own surgical robots in the near future.”
Four-thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
Tina Deng, a medical devices analyst at GlobalData, commented: “Robotic surgical systems are designed to solve the limitations currently present in minimally invasive surgeries, as well as improve outcomes in open surgical procedures. Increasing adoption of robotics systems will be fueled by a growing body of clinical data, as well as an increasing number of indications. As robotic systems serve to improve surgical procedures, this will increase the patient population eligible for treatment.”
Earlier this fall, U.K.-based robotic surgery devices company CMR Surgical Limited (CMR Surgical) raised £195 million ($240 million) to finance the global commercialization of its next-generation surgical robotic system, Versius. As a cost-effective, modular and portable system, Versius may threaten the leading position of the da Vinci system from Intuitive Surgical, especially in the Europe and Asia-Pacific regions.
Deng continued: “Unlike large console-based robotic systems, the versatility and affordability of the Versius system broadens its usage in a wider range of minimally invasive surgeries. The system received a CE mark to access the European market this March. With sufficient funding, CMR Surgical has established commercial teams in India, the UK and mainland Europe. As a result, Versius is expected to gain more share in these regions over the next two to three years.”
U.S.-based Intuitive Surgical is by far the largest player in the surgical robotics market, with its flagship da Vinci system, bolstered by years of sales and exposure prior to any competitors reaching the market. Intuitive has been slowly expanding the indications for its da Vinci system, as well as expanding geographically into more countries around the world, leading to even more share.
Deng added: “The U.S. represents the largest market of surgical robotics. CMR Surgical has yet received U.S. Food and Drug Administration approval, but competition has become intense as more players, including Verb Surgical, Titan Medical and medical giant Medtronic, are expected to debut their own surgical robots in the near future.”
Four-thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
