The global gynecology robotic surgery market was valued at more than $1 billion in 2015 and is expected to surpass $2 billion by 2020, says Technavio.
Technavio has announced its latest market research report on gynecology robotic surgery for the forecast period, 2016-2020. This market analysis, under the orthopedics and general medical devices vertical, discusses the major drivers and key emerging trends that will influence the growth of the global gynecology robotic surgery market during the forecast period. Some of the top vendors listed in this industry analysis include Intuitive Surgical, Titan Medical, and TransEnterix.
In terms of geographical analysis, the Americas is likely to account for the largest share of the global market and is expected to surpass $1,400 million by 2020. The US, Brazil, and Canada will emerge as the key revenue-generators.
“Companies in the global market for gynecology robotic surgeries are quoting competitive prices to increase their market adoption. Saving, with respect to hospital expenses, is one of the key factors that almost all individuals look for. As a result, the companies in the market are trying to reduce the cost of the robotic platform which in turn decreases the cost of treatment,” says Abhay Sinha, a lead analyst at Technavio for orthopedics and general medical devices.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increasing number of shipped products under lease
The cost and maintenance of a robotic platform is high. As a result, companies in the market provide these platforms on lease to hospitals in oder to bring down the costs. For instance, Intuitive Surgical provides da Vinci surgical platform on lease, which is a sales type that is offered to those end-users (hospitals and ASCs) who have trained surgeons for using da Vinci surgical platform. In 2013, the company provided six systems under a lease agreement which increased in December 2015 by 63. Its 65%-70% of revenue in the US is generated by leasing the robotic platforms. Robotic platforms on lease is essentially a business strategy used by companies to penetrate in the emerging markets.
Limitations involved in traditional/conventional surgeries
Open abdomen surgery for gynecology and laparoscopic surgeries require large incisions and longer recovery times, which affect the individual’s outcome. These procedures are also associated with increased rates of infection and blood transfusion rates. Surgeons across the globe are increasingly adopting surgical robots owing to its benefits over open surgeries. Some of the advantages of surgical robots include reduction of incision size, fewer blood transfusions, and improved recovery times. Furthermore, robotic surgeries enhance the surgeon’s skills, reduces variability, and provides opportunities for simulation.
Paradigm shift toward MI surgery
Minimally invasive surgeries enhance the overall surgical outcome by reducing the recovery time, hospital stay, and postoperative pain. Surgeons often use robotic platforms to perform complicated surgeries as they allow precise movement of instruments and provide a better view of the target area as opposed to conventional techniques. As a result, there is an increased preference for robotic surgeries over traditional surgeries (open and laparoscopic surgeries), especially for gynecological applications among both, patients and surgeons.
Some of the other prominent vendors identified in this report are AVRA Surgical Robotics, NovaTract Surgical, and OmniGuide Holdings.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Gynecology Robotic Surgery Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Urology Robotic Surgery Market 2016-2020
- Global Surgical Power Tools Market 2016-2020
- Global Thoracic Surgery Market 2016-2020
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