Increased demand for minimally invasive cancer procedures is expected to drive significant growth in the global surgical robotics market, according to a recent report. Here are eight things to know:
1. The market for surgical systems by value is expected to have a compound annual growth rate of 12.3 percent from 2017 to 2025. The global surgical robotics market is expected to reach $12.6 billion by the end of that time period.
2. Intuitive Surgical's da Vinci surgical system is expected to reach 1,123 installation units in 2025 and had the highest installation volume of all surgical systems in 2016, but the Sensei Robotic System manufactured by Hansen Medical has the highest anticipated compound annual growth rate at 22 percent.
3. In 2016, the gynecology segment captured the largest market value and the largest market share by robotic surgical procedural volume.
4. The gynecology segment’s market value has an anticipated compound annual growth rate of 8.8 percent for the forecast period, which is attributed to increasing gynecological complications among women and advancements in robotic systems.
5. Researchers expect the general surgery segment to generate $4.2 billion in revenue and dominate market share with a robotic surgical procedural volume of 717,550 by 2025.
6. Although hospitals had the highest market value in the end-user segment, ASCs are expected to generate revenue at a compound annual growth rate of 18.9 percent and experience a compound annual growth rate of 15.6 percent for robotic surgical system installation volume from 2017 to 2025.
7. Key players in the market include MedRobotics, Stryker Corp. and Mazor Robotics.
8. The market is under-penetrated, with more than 3,000 hospitals and 5,000 clinics in the U.S. lacking robotic surgery programs.