Michael Barbella, Managing Editor05.24.22
The future looks bright for China's robotic surgical systems market.
GlobalData statistics indicate the country's installed base of robotic surgical systems will grow 23 percent annually through 2030.
Expanding the Marketing Authorization Holder (MAH) Pilot Program—first released in 2019—attracted extensive investments in the country's robotic surgical systems. With the new five-year development plan for robotics industry, growing burden of aging population and COVID-19 pandemic, the trend is likely to continue in the near future, according to GlobalData.
“The MAH program, which was introduced to increase the speed of expansion of medical devices in China, has resulted in incremental funding from the Chinese government and large investment funds in the field of robotic surgeries," said Vinita Sippy, a medical devices analyst at GlobalData. "With the new five-year development program in robotics industry introduced in December 2021, these investments are only expected to boost further resulting in more players and reduced cost of robotic systems.”
The market is currently dominated by international players like Intuitive Surgical and Stryker Corp., but the high cost of systems and government incentives pulled local players like Tinavi Medical, MicroPort, and Jointech, which have built in home grown surgical robots.
“The initiatives will provide an opportunity for both international players with innovative technologies and local players to provide these solutions at affordable prices. The reduction in the price of these systems is likely to invite government reimbursement for surgeries using robotic systems,” said Sippy.
GlobalData statistics indicate the country's installed base of robotic surgical systems will grow 23 percent annually through 2030.
Expanding the Marketing Authorization Holder (MAH) Pilot Program—first released in 2019—attracted extensive investments in the country's robotic surgical systems. With the new five-year development plan for robotics industry, growing burden of aging population and COVID-19 pandemic, the trend is likely to continue in the near future, according to GlobalData.
“The MAH program, which was introduced to increase the speed of expansion of medical devices in China, has resulted in incremental funding from the Chinese government and large investment funds in the field of robotic surgeries," said Vinita Sippy, a medical devices analyst at GlobalData. "With the new five-year development program in robotics industry introduced in December 2021, these investments are only expected to boost further resulting in more players and reduced cost of robotic systems.”
The market is currently dominated by international players like Intuitive Surgical and Stryker Corp., but the high cost of systems and government incentives pulled local players like Tinavi Medical, MicroPort, and Jointech, which have built in home grown surgical robots.
“The initiatives will provide an opportunity for both international players with innovative technologies and local players to provide these solutions at affordable prices. The reduction in the price of these systems is likely to invite government reimbursement for surgeries using robotic systems,” said Sippy.