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U.S. Image Guided and Robot Assisted Surgery Markets
Frost & Sullivan, March 2008, Pages: 97
This Frost & Sullivan research service titled U.S. Image Guided and Robot Assisted Surgery Markets provides an overview of the trends and technologies that have shaped the market revenue, market share, and implantation rates in the individual segments of the market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: Image Guided Surgery Systems, Robot Assisted Surgery Systems, Navigation Systems, and Robot Assisted Radio Surgery.
Market Overview
Ability to Improve Efficiency and Accuracy of Complex Surgical Procedures Spurring Adoption
Precise motion control integrated with high-resolution imaging systems dramatically improves the accuracy of complex surgical procedures, expanding robotic surgical applications. With these systems, clinicians are currently able to address procedures that were once considered too risky or complicated. Another significant advantage provided by these systems over traditional approaches is that through ’key-hole’ approaches the amount of blood loss during procedures is drastically limited. These and many more advantages over traditional open cavity scalpel and scissor approaches are likely to drive the adoption of image guided and robot assisted surgery (RAS) tools.
However, hospital costs are spiraling out of control, and efforts to control these costs are likely to be a major restraint on the purchase of new expensive equipment. RAS systems can be priced above $1.5 million for the capital equipment alone and navigation systems such as Stereotaxis’ Niobe system and cardiac catheter system are sold at an approximate price of $700,000. 'Moreover, medicare and edicaid services hold flat rates for certain procedures,' notes the analyst of this research service. 'If a hospital converts to robotic-assisted procedures, its internal costs would increase, while the reimbursement level will remain the same.'
Application in Multiple Anatomical Disease States Expanding Appeal
The seemingly expanding applicability of robotic systems in addressing various disease states facilitates the approval of large healthcare facilities. Robotic systems such as the Da Vinci system are being investigated and tested for multiple surgical applications, ranging from hysterectomies and oncology to cardiac by-pass surgery. Due to the constrained budget, specialist’s at large healthcare institutions must often go through a petition and approval process from their executive board to allow for the purchase of high-cost capital equipment. When evaluating their annual budget, the board must understand the needs of their practitioners and address their requests in a manner that provides maximum patient benefit, without sacrificing long-term financial viability. Robotic systems have an appeal to various specialists, and therefore, could be pooled from the budget of various clinical areas of focus.
Overall, the total revenue for the U.S. robotic assist and image guided surgery market was $813.0 million in 2007. Among the market segments, the robotics assisted surgery market was worth $420.4 million in 2007, with an estimated market potential of $2,134.4 million in 2014. 'The U.S. image guided surgery market was worth $247.5 million in 2007 and is expected to grow at a compound annual growth rate (CAGR) of 19.1 percent from 2007 to 2014,' says the analyst. 'Image guided surgery of the brain and spine have gained the highest market penetration and usage.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Cardiovascular procedures
- Radio surgery
- Image guided surgery
- Orthopedic robotics
Technologies
The following technologies are covered in this research:
- Robotics
- Artificial Intelligence
- Micromachines
- Magnetic Guidance
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