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For many manufacturers, surgical robotics is uncharted territory, and the technology has only gained traction in the past decade. While a number of companies in this space, such as Intuitive Surgical, have been around for a while, many of their robotics systems have only recently gained regulatory approval and are quite new to the market. As a result, almost every surgical robotics company is focused on gaining FDA approval in order to capture significant market share in the United States.
Therefore, international expansion has been slow over the past decade. Another reason for the slow international expansion of surgical robotics is the fact that the majority of these companies are U.S.-based. However, most robotics companies have expressed interest in global expansion, and having the first-mover advantage in this new and developing market is critical for success.
Searching For Global Acceptance
The process of individually gaining approval in various countries has slowed the growth of the entire surgical robotics industry. Additionally, all robotics companies face the challenge of convincing hospitals to purchase systems that commonly retail for upwards of $1 million. It is difficult enough to convince a hospital to purchase any form of equipment costing six or seven figures, even though these purchases typically are made when old equipment needs to be replaced, as is standard when dealing with capital equipment.
For Further Information
More on the surgical navigation and robotics systems market in the U.S. can be found in a series of reports published by iData Research entitled the U.S. Market Report Suite for Surgical Navigation and Robotic Systems. The suite covers reports on the following markets: surgical navigation systems for neurosurgery, spinal surgery, ENT (ear/nose/throat), and orthopedic hip and knee applications. The segmentation for surgical robotics systems includes spinal, neurosurgery, minimally invasive surgery (MIS), radiosurgery, catheter and orthopedic robotically assisted systems.
The iData report series on robotics and surgical navigation covers the U.S., Japan, China, India, Australia, and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about robotics and surgical navigation market data or procedure data, register online or email us at [email protected] for a U.S. Market Report Suite for Surgical Navigation and Robotic Systems brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Dental Operatory Equipment, X-Ray Imaging, Vascular Access, Peripheral Vascular, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Diagnostic Imaging, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Oncology, Ultrasound, Laparoscopy, Urology, Gynecology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large and Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics and more.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by state, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
About Reimbursement Tracker
iData Research’s Reimbursement Policy Tracker enables medical device, dental, pharmaceutical and healthcare professionals to receive real-time policy updates from hundreds of insurance companies and 60,000+ policies across all therapeutic areas in the United States.
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