Surgical Robotics Systems Market Analysis | Global | 2017-2023 | MedCore
Surgical robotics has tremendous potential to increase the effectiveness of existing procedures and to facilitate novel procedure types. The surgical robotics industry is, in many ways, still in its infancy, with more products in development than currently commercially available on the market. Most new surgical robotic systems are designed for highly specialized medical applications, which is a major draw-back for most facilities. The types of surgical robotic assisted systems covered in this section are: minimally invasive surgery robotic systems, orthopedic robotic systems, spinal robotic systems, neurosurgery robotic systems, robotic catheters and radiosurgery robotic systems.
The spinal robotic assisted surgery market is dominated by one player; however, FDA approval was granted to a new system at the beginning of 2016. This growth in Mazors installed base also increased revenues from services and maintenance. Capital revenues are expected to grow over the short-term as a proportion of revenues due to capital outlays from increasing adoption. However, service and maintenance revenues are expected to increase in growth over the second half of the forecast period, ultimately making up a majority proportion of revenues. System sales are expected to increase annually, although this growth rate may vary depending on several factors. As robotic technology is relatively new, many spinal surgeons choose to take a conservative approach to adoption. This means that robotics companies looking at the spinal market will need to show significant benefits to procedure and patient recovery times in order to convince institutions to pay the cost of a robotic system. If this can be done, then demand may increase over the forecast period as an inflection point is hit. However, failure to do so may lead to lower growth rates toward the end of the forecast period.
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