IDTechEx Research Dissects the Robotic Surgery Market
BOSTON, March 24, 2020 /PRNewswire/ -- In its recently published report "Innovations in Robotic Surgery 2020-2030," IDTechEx forecasts that the robotic surgery market will reach over $12 billion by 2030. The report breaks down the market landscape and emerging technologies in the field of robotic surgery.
Intuitive Surgical, manufacturer of the da Vinci Surgical System, has been the uncontested market leader in robotic general surgery for the last two decades. With 5,582 systems installed worldwide and over seven million surgeries performed with da Vinci to date, the company is so firmly established that it has practically become synonymous with the term robotic surgery.
Within the last five years, interest in the field of robotic surgery has soared. Investments in companies operating in this space have skyrocketed since 2016, recording an increase of over 300% in three years, and total investment to date has reached $1.36 billion.
Although Intuitive Surgical has long been the only company with a surgical robot cleared for general surgery, the situation could be about to change. Today, the market pioneer is faced with competition from more than a dozen newcomers that are exploring various configurations and approaches to robotic surgery.
Some companies aim to directly compete with Intuitive Surgical (i.e.: operate in the same field, perform the same types of procedures). For instance, a number of companies are developing robotic platforms that follow the same concept as da Vinci. Others strive to distinguish themselves through an alternative design, form factor or approach to conduct surgery. Some companies, for example, are developing surgical robots with flexible arms to enable entry into the patient's body through natural orifices - thereby circumventing the need for incisions. There is also a focus on reducing the size of surgical robots in order to make them less cumbersome and more portable.
The robotic general surgery space is in a rapid state of expansion as numerous companies are entering the ring in the hope of seizing a portion of the market share. This is only the beginning as many of the companies' robotic systems have only been launched in the last two years and others have yet to reach the market. Will these companies succeed in upsetting Intuitive Surgical's reign as market leader within the next decade?
To obtain market forecasts and information on the latest trends and technologies in the field of robotic surgery, please refer to IDTechEx's report "Innovations in Robotic Surgery 2020-2030" by visiting www.IDTechEx.com/RoSurgery.
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