Santa Clara, CA, November 23, 2016 --(PR.com
)-- Funding and investment create tremendous growth opportunities for robotic assisted technology, finds Frost & Sullivan’s Transformational Health Team.
Today, only 5 percent of U.S. surgery procedures are performed with a robotic assisted surgical device (RASD). New market entrants are expanding the genre of surgical procedures currently available. Further, bundled payments could make robot-assisted surgical procedures more cost effective than conventional surgical techniques. Success, however, will not be achieved by simply selling base systems, but by creating sustainable business models.
Analysis of the Robotic Assisted Surgery Market (http://bit.ly/2fD4zjo) is part of Frost & Sullivan’s Advanced Medical Technologies Growth Partnership Service program, which includes topics such as diagnostics and monitoring technologies, high-impact interventional and therapeutic technologies care, and healthcare business services transformation. Please visit: http://frost.ly/153
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Intuitive Surgical, Inc.’s sustainable business model and market performance over the past decade have enabled it to dominate the market. Myriad surgical robotic companies are hoping to emulate the success of the da Vinci Surgical System.
“CEOs must understand the obstacles Intuitive Surgical has faced and the successes it has achieved in the past 10 years. Clearly, growth strategies focused on sustainable business models combined with supply chain and service agreement revenue streams will be crucial to capture market share,” said Transformational Health Senior Industry Analyst Patrick Riley. “As such, third-generation RASDs should come at a lower acquisition cost or be available to lease, demonstrate ROI in a bundled payment algorithm and be designed for specific surgical procedures or MS-DRG.”
Investors and Wall Street have responded favorably to robotic assisted technology, making funds available for new market entrants to drive innovation. At the same time, high demand from surgeons is fueling industry growth. Specific surgical procedures such as prostatectomy, hysterectomy and inguinal hernia, in particular, offer an opportunity to acquire market share. As a result, RASD design is expected to evolve to meet the demand for one surgical procedure.
Auris Medical, MedTech Global, Titan Medical, Inc., Smith & Nephew, TransEnterix, Medrobotics, Verb Surgical, Restoration Robotics, Virtual Incision Corporation, and Think Surgical, Inc. are new players in this dynamic market. OMNIBotics and STRYKER-MAKO are competing in the total hip and knee replacement sector.
“Robot-assisted surgery is on the precipice of becoming the standard of care in the U.S. for all surgical procedures or to be used exclusively for a few conventional surgical and low-risk operations that show the greatest potential for ROI and better outcomes. The future is today. Reimbursement changes as a result of the Affordable Care Act will weigh heavily in deciding the direction the (RASD) industry will take in the next three to five years. Whatever evolutionary step is involved, we will witness a paradigm shift in the medical practice of surgery of the same, if not greater, magnitude than witnessed with the development of anesthesia to ease the pain of surgery and antibiotics to treat post-surgical infections,” states Riley.
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Analysis of the Robotic Assisted Surgery Market
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