LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global gynecology robotic surgery market is expected to grow at a CAGR of more than 10% during the forecast period.
This research report titled ‘Global Gynecology Robotic Surgery Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Srinivas Sashidhar, a lead analyst at Technavio for medical devices research, “Surgeons often use robotic platforms to perform complicated surgeries because they allow precise movement of instruments and give a better view of the targeted area compared with other conventional techniques. Thus, minimally invasive robotic surgeries are preferred over traditional surgeries, especially for gynecological applications.
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The report categorizes the global gynecology robotic surgery market into three major product segments. They are:
- Robotic platform
- Instruments and accessories
- Robotic platform services
“The incidence of ovarian cancer and cyst in the uterus is higher in the older population, which is increasing the need for robotic platforms for surgery. As robotic surgery is an MI technique, it reduces the loss of blood during surgery and ensures faster recovery. This will lead to an increase in the adoption of robotic-assisted surgeries in the market,” says Srinivas.
Imaging modality incorporated with controller helps the surgeons to perform surgical procedures without causing any errors. It helps the surgeons to identify the tissue or mass that needs to be surgically removed. Hence, the companies are developing 3D imaging modalities to increase surgical precision by providing clear imaging techniques.
For instance, Intuitive Surgical has developed the da Vinci surgical platform, which is an MI robotic surgery platform used in various applications. Its patient-side cart includes a single and multiple site robotic arm, and firefly fluorescence imaging in 3D vision. The integration of the imaging modality with the robotic platform helps to improve the surgical outcome.
Instruments and accessories
Robotic arms are integrated into the patient cart. Sometimes, accessories like graspers, bipolar forceps, and needle drivers can be installed in the robotic arm separately. Accessories can be considered as an add-on advantage while performing complicated surgeries. The use of such accessories is based on the need of surgeons.
There are companies such as NovaTract Surgical and OmniGuide Holdings which develop accessories which can be used in the robotic arm. These companies will further add to the intense competition in the market as the demand for robotic arms market grows.
Robotic platform services
To ensure optimal performance, maintain proficiency, and reduce morbidity, robotic surgical systems require annual servicing. Robotic surgical devices require regular maintenance for better performance. Some of the services provided by Intuitive Surgical include support, installation, repair, and maintenance. Intuitive Surgical offers such services during the sale of systems at an annual rate of USD100,000-USD170,000 for maintenance. In 2014, the company generated USD 429 million in revenue.
Also, a high number of installations leads to an increase in the recurring revenue from the services segment. The service contracts are generally renewed after the initial contractual service period. During the servicing of instruments, vendors report any corrections made to the instruments to enhance the product quality in future.
The top vendors highlighted by Technavio’s healthcare and life sciences research analysts in this report are:
- Intuitive Surgical
- Titan Medical
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