Medical Robotics - Global Strategic Business Report

Global Industry Analysts, Inc, July 2012, Pages: 400

This report analyzes the worldwide markets for Medical Robotics in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2010 through 2018. A six-year historic analysis is also provided for these markets. The report profiles 57 companies including many key and niche players such as Accuray, Inc., Epson Robots, Freehand 2010 Ltd., Hansen Medical, Inc., Health Robotics S.r.l., Intuitive Surgical, Inc., MAKO Surgical Corp., Mazor Surgical Robotics Ltd., Robosoft, Robotic Systems and Technologies, Inc., Titan Medical, Inc., and Tmsuk, Inc. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.

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MEDICAL ROBOTICS

A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3
Applications of Robotics I-3
Patient Monitoring Robotic System: I-3
Medical and Healthcare Service Robots: I-3
Surgical Robots: I-4

II. Executive Summary

1. INDUSTRY OVERVIEW II-1
Medical Robotics - A Rudimentary Overview II-1
Recession in Retrospect II-1
Current Market Scenario II-2
Overall Robotics Market in a Nutshell II-2
Significance of Robotics in Life Science Arena II-2
Issues & Trends Affecting the Market II-3
Factors Influencing Medical Robotics' Future II-3
Aging Population - Major Factor Impacting Current and Future
Demand II-3
Demand & Technology Set to Drive the Market II-4
Efficacy - A Key Criterion II-4
Issues Dampening Growth II-4
Technical Limitations II-4
High Costs - A Major Concern II-5
Stringent Regulatory Laws Prolong Development in Medical
Robotics II-5
Assistive Robots Market Witnesses Hurdles II-5
Robot-Assisted Surgery - An Emerging Surgical Technology II-5
Robotics to Replace Surgical Nurses? II-6
Nanobots- The Next Big Thing II-6
Surgical Robots Augment Minimal Invasive Surgery II-6
Intuitive Surgical- Undisputed in MIS Market II-6

2. PRODUCT OVERVIEW II-7
Medical Robotics- An Insight II-7
Applications of Robotics II-7
Patient Monitoring Robotic System II-7
Medical Service Robots II-7
Nursebots II-7
Exoskeletons II-8
Pharmacy Robots II-8
Surgical Robots II-8
Semi-Autonomous Surgical Robot II-8
Guided Surgical Robotic System II-8
Teleoperated Surgical Robot II-9
Pros and Cons of Robotic Surgery II-9
Advantages II-9
Disadvantages II-9
Review of Select Surgical Robotic Systems II-9
The da Vinci Surgical System II-9
CyberKnife VSI System II-10
The Sensei X Robotic Catheter II-10
Renaissance II-11
MAKOplasty Systems II-11
ROBODOC System II-11
The Stereotaxis Magnetic Navigation System II-11
A Peep into the History II-12

3. PRODUCT INNOVATIONS/INTRODUCTIONS II-13
Mazor Introduces Robotic Guidance System for Spinal Surgery,
Renaissance II-13
BK Medical Introduces Advanced Robotic Ultrasound Technology II-13
Health Robotics to Unveil i.v.STATION ONCO Robot II-13
MAKO Surgical Launches Makoplasty® II-13
Restoration Robotics Introduces ARTAS Follicular Unit
Extraction Technology II-14
Hansen Medical Introduces Software Package for Sensei® X
Robotic Catheter System II-14
Hansen Medical Introduces Sensei® X Robotic Catheter System II-14
Health Robotics Announces Launch of Beta Installation for i.v
.SOFT Modules II-15
SHESAYS Installs CEREC AC Dental Robot in China II-15
Cedar Park Regional Medical Center Installs First Surgical Robot II-15
Accuray Unveils CyberKnife® VSITM System II-16
Health Robotics Introduces ‘The i.v. Room of the Future' Concept II-16
Intuitive Surgical Launches da Vinci® Si™ Surgical System II-16
MAKO Surgical Unveils RESTORIS® MCK and RIOTM II-16
EPSON Robots Launches RS3 Robot II-17

4. RECENT INDUSTRY ACTIVITY II-18
Health Robotics Enters Into Distribution Agreement with Gamida
MedEquip II-18
TOSHO Purchases Minority Stake in Health Robotics II-18
Luna Innovations Extends Agreement with Hansen Medical II-18
IMRIS Signs Agreement with MDA for Completing Robotics Program II-18
Hyundai Heavy Industries Localizes ROBODOC Surgical Robot II-19
Tmsuk Opens New R&D Company in Denmark II-19
Health Robotics Inks Distribution Agreement with Nutricare II-19
Titan Medical Enters Into Development and Licensing Agreement
with LiveData II-19
Fortis Healthcare and ICRS to Establish Fortis ICRS Centres in
India II-20
Precision Optics and Intuitive Surgical Operations Sign Agreement II-20
Health Robotics and i.v.SOFT Form Joint Venture II-20
North Suburban Medical Center Installs da Vinci Surgical Robot II-20
Covenant Health System Purchases da Vinci Surgical Robotic System II-21
Health Robotics and Macrotech Farmaceutica Ink Agreement II-21
Luna Innovations and Intuitive Surgical Sign Agreement II-21
BioRobotics Selects Health Robotics for Expansion in Korea II-21
Hansen Medical Establishes New London Headquarters II-22
UH-MRL and TMHRI Partner to Develop Advanced Robotics for
Heart Surgery II-22
Health Robotics Signs Exclusive Cooperation Agreement with
Grifols International II-22
Hansen Medical and St. Jude Medical Enter into Partnership II-23
Health Robotics SEA Signs Two Government Contracts II-23
McKesson Enters Into an Agreement with Health Robotics II-23
Titan Medical Opts for System Integration with KUKA Robotics
for Amadeus II-24
Adventist Medical Center Installs da Vinci Surgical Robotic
System II-24
Baxa Takes Over ForHealth Technologies II-24
Health Robotics and Device Technologies Sign Licensing Agreement II-24
Health Robotics Signs Definitive Agreement with Charite-
Universitatsmedizin II-25
iRobot Establishes New Healthcare Robotics Division II-25
Philips and Hansen Medical Ink Cooperation and Development
Agreements II-25
Health Robotics Inks Distribution Agreement with Can-Med II-26
Innomed/BioRobotics and Health Robotics Sign Distribution
Agreement II-26
TOSHO Extends Development and Supply Agreement with Health
Robotics II-26
China National Pharmaceutical Groups Subsidiary Inks Contract
with Health Robotics II-27
Health Robotics Launches Health Robotics Canada II-27

5. FOCUS ON SELECT GLOBAL PLAYERS II-28
Accuray, Inc. (US) II-28
Epson Robots (US) II-28
Freehand 2010 Ltd. (UK) II-28
Hansen Medical, Inc. (US) II-29
Health Robotics S.r.l. (Italy) II-29
Intuitive Surgical, Inc. (US) II-29
MAKO Surgical Corp. (US) II-29
Mazor Surgical Robotics Ltd. (Israel) II-30
Robosoft (France) II-30
Robotic Systems and Technologies, Inc. (US) II-30
Titan Medical, Inc. (Canada) II-30
Tmsuk, Inc. (Japan) II-31

6. GLOBAL MARKET PERSPECTIVE II-32
Table 1: World Recent Past, Current & Future Analysis for
Medical Robotics by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific, and Rest of World Markets Independently
Analyzed with Annual Revenue Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) II-32

Table 2: World Historic Review for Medical Robotics by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific,
and Rest of World Markets Independently Analyzed with Annual
Revenue Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) II-33

Table 3: World 15-Year Perspective for Medical Robotics by
Geographic Region - Percentage Breakdown of Dollar Revenues
for US, Canada, Japan, Europe, Asia-Pacific, and Rest of World
Markets for Years 2004, 2011 & 2018 (includes corresponding
Graph/Chart) II-34

III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Current & Future Analysis III-1
Robotic Surgery Equipment Market to Continue Growth Spree III-1
Key Statistics III-1
Table 4: Robotic Surgery in the US (2011): Percentage
Breakdown by Surgical Application-General Surgery, GYN,
Cardiac, Urology, ENT, Thoracic, and Colon & Rectal
(includes corresponding Graph/Chart) III-1
Strategic Corporate Developments III-2
Product Launches III-5
Select Key Players III-8
B.Market Analytics III-10
Table 5: The US Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-10

Table 6: The US Historic Review for Medical Robotics Market
Analyzed with Annual Revenue Figures in US$ Million for
Years 2004 through 2009 (includes corresponding Graph/Chart) III-11

2. CANADA III-12
A.Market Analysis III-12
Current & Future Analysis III-12
Product Launch III-12
Strategic Corporate Developments III-12
Titan Medical, Inc - A Key Canadian Player III-13
B.Market Analytics III-14
Table 7: Canadian Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-14

Table 8: Canadian Historic Review for Medical Robotics
Market Analyzed with Annual Revenue Figures in US$ Million
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-15

3. JAPAN III-16
A.Market Analysis III-16
Current & Future Analysis III-16
Government Intervention Bodes Well for the Japanese Market III-16
Strategic Corporate Development III-16
Tmsuk, Inc - A Leading Japanese Player III-17
B.Market Analytics III-17
Table 9: Japanese Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-17

Table 10: Japanese Historic Review for Medical Robotics
Market Analyzed with Annual Revenue Figures in US$ Million
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-18

4. EUROPE III-19
A.Market Analysis III-19
Current & Future Analysis III-19
B.Market Analytics III-20
Table 11: European Recent Past, Current & Future Analysis
for Medical Robotics by Geographic Region - France, Germany,
Italy, UK, and Rest of Europe Markets Independently Analyzed
with Annual Revenue Figures in US$ Million for Years 2010
through 2018 (includes corresponding Graph/Chart) III-20

Table 12: European Historic Review for Medical Robotics by
Geographic Region - France, Germany, Italy, UK, and Rest of
Europe Markets Independently Analyzed with Annual Revenue
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-21

Table 13: European 15-Year Perspective for Medical Robotics
by Geographic Region - Percentage Breakdown of Dollar
Revenues for France, Germany, Italy, UK, and Rest of Europe
Markets for Years 2004, 2011 & 2018 (includes corresponding
Graph/Chart) III-22

4a. FRANCE III-23
A.Market Analysis III-23
Current & Future Analysis III-23
Robosoft - A Leading Player III-23
B.Market Analytics III-24
Table 14: French Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-24

Table 15: French Historic Review for Medical Robotics Market
Analyzed with Annual Revenue Figures in US$ Million for
Years 2004 through 2009 (includes corresponding Graph/Chart) III-25

4b. GERMANY III-26
A.Market Analysis III-26
Current & Future Analysis III-26
Strategic Corporate Development III-26
B.Market Analytics III-27
Table 16: German Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-27

Table 17: German Historic Review for Medical Robotics Market
Analyzed with Annual Revenue Figures in US$ Million for
Years 2004 through 2009 (includes corresponding Graph/Chart) III-28

4c. ITALY III-29
A.Market Analysis III-29
Current & Future Analysis III-29
Strategic Corporate Developments III-29
Product Launches III-30
Health Robotics S.r.l - A Leading Italian Player III-31
B.Market Analytics III-32
Table 18: Italian Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-32

Table 19: Italian Historic Review for Medical Robotics
Market Analyzed with Annual Revenue Figures in US$ Million
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-33

4d. THE UNITED KINGDOM III-34
A.Market Analysis III-34
Current & Future Analysis III-34
Product Launch III-34
Strategic Corporate Development III-34
Freehand 2010, Ltd - A Key Player III-35
B.Market Analytics III-35
Table 20: UK Recent Past, Current & Future Analysis for
Medical Robotics Market Analyzed with Annual Revenue Figures
in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-35

Table 21: UK Historic Review for Medical Robotics Market
Analyzed with Annual Revenue Figures in US$ Million for
Years 2004 through 2009 (includes corresponding Graph/Chart) III-36

4e. REST OF EUROPE III-37
A.Market Analysis III-37
Current & Future Analysis III-37
Strategic Corporate Development III-37
B.Market Analytics III-38
Table 22: Rest of Europe Recent Past, Current & Future
Analysis for Medical Robotics Market Analyzed with Annual
Revenue Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) III-38

Table 23: Rest of Europe Historic Review for Medical
Robotics Market Analyzed with Annual Revenue Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-39

5. ASIA-PACIFIC III-40
A.Market Analysis III-40
Current & Future Analysis III-40
Indian Medical Robotics Market Gains Impetus III-40
Strategic Corporate Developments III-40
Product Launch III-43
B.Market Analytics III-44
Table 24: Asia-Pacific Recent Past, Current & Future
Analysis for Medical Robotics Market Analyzed with Annual
Revenue Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) III-44

Table 25: Asia-Pacific Historic Review for Medical Robotics
Market Analyzed with Annual Revenue Figures in US$ Million
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-45

6. REST OF WORLD III-46
A.Market Analysis III-46
Current & Future Analysis III-46
Strategic Corporate Developments III-46
Mazor Surgical Robotics Ltd- A Key Israeli Player III-46
B.Market Analytics III-47
Table 26: Rest of World Recent Past, Current & Future
Analysis for Medical Robotics Analyzed with Annual Revenue
Figures in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-47

Table 27: Rest of World Historic Review for Medical Robotics
Analyzed with Annual Revenue Figures in US$ Million for
Years 2004 through 2009 (includes corresponding Graph/Chart) III-48

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 57 (including Divisions/Subsidiaries - 58)

The United States (25)
Canada (5)
Japan (5)
Europe (19)
- France (2)
- Germany (5)
- The United Kingdom (3)
- Italy (1)
- Spain (1)
- Rest of Europe (7)
Asia-Pacific (Excluding Japan) (3)
Middle-East (1)

Over the recent years, robotics technology has evolved from providing limited medical care to offering a broad range of functions including patient rehabilitation and surgical procedures with more efficacy and competence. The services offered by medical robots range from training future medical professionals to providing care and comfort to elderly patients diagnosed. The introduction of robotics in medical arena facilitated smaller incisions, reduced hospital stay, and high precision. Moreover academic institutions are involving robots to mimic patient's feelings, giving future-doctors a real-life experience. While robotics holds promise in the field of medical science, the prohibitive cost of setting up systems turns out to be a dampener for many small sized medical organizations. Moreover regulatory approvals take up more time and cost, before a technology is certified for commercial use thereby increasing product cost and launch periods. Despite all the hurdles, the medical benefits related to robotic assisted surgery is fuelling the use of robotic technology and robots in medical field.

Though the emergence of robotics in the medical sector is a relatively more recent event when compared to other industries, they form an integral component of modern medicine. Robotic technology plays a vital role in delivering neuro-rehabilitation therapy to patients suffering from stroke, performing health related tasks, assisting people with disabilities and even carrying out delicate surgical procedures. In the recent years robots were used purely to assist surgeons during surgeries, but the increasing desire of surgeons as well as patients to maximize effectiveness and efficacy led to the debut of additional telemedicine and assistive technologies based automation tools. The industry is characterized by ongoing technological advancements and varied adoption levels across different nations. National differences exist with respect to adoption of robotic technologies although the robotics has been widely accepted in principle. With rising level of acceptance for medical robotic technologies, developers are further integrating devices with artificial intelligence to improve the quality of healthcare provided.

Currently, aging population in the US and other international markets is emerging as one of the most important factors driving the demand for medical robots. Demographic trends indicate that the demand for medical services and medical products is rising throughout the Western World and in the Far East. Rising demand, mainly coming from aging baby boomers and tremendous technological advancement in robotics are set to propel the medical robotics markets in the coming years. Robotic technology is witnessing tremendous development, thus ensuring high precision, better efficacy and improved healthcare. Nursing care is expected to emerge as potential market for robotics. Though the medical robotics market is poised to grow over the coming years, high costs prevailing in the market are expected to hinder market growth. In addition to the cost factor, stringent regulations deter medical robotic system trials, and subsequently prolong the approval process for marketing.

While the global economic downturn took its toll on the overall robotics market, medical robotics sector almost remained undeterred during the period. The growth in the sector is attributed to the increase in technology advancements, and growing elderly population needing healthcare. The use of robotics not only minimized incisions and enhanced precision of surgical procedures, but also resulted in reduced hospital stays which further led to cost savings. However, bottlenecks such as high installation and development costs plagued the arena during the period, having a ruinous effect on companies engaged in the development of robotics. The fading impact of recession is, however, promoting larger manufacturers to make higher investments in developing products that ensure high precession and safety. Growing popularity and widespread use of endoscopic surgical techniques in almost all surgical procedures is further paving an easy road to recovery.

Assistive robotics in medical field entails collaborative working of machines and humans. However, in the current scenario the human-robot interaction process involves different communications techniques leading to disruption of interaction between the two entities. Nevertheless, academic institutions are focusing on developing assistive robots that can communicate effectively and are in line with the patient requirements. Moreover governmental regulations, and consistency and safety concerns, are also restricting the growth of assistive robotics market. Despite the hurdles prevailing in the market, the assistive robotics segment is expected to surge ahead in the wake of increasing aging population.

The US represents the largest regional market worldwide, as stated by the new market research report on Medical Robotics. The growth in the market is driven by the growing demand for minimally invasive surgery. Besides, product innovation is expected to drive growth in the years ahead. However, Asia-Pacific represents the fastest growing regional market for medical robotics worldwide, representing a CAGR of close to 12% during the analysis period.

Major players profiled in the report include Accuray, Inc., Epson Robots, Hansen Medical, Inc., Health Robotics S.r.l., Intuitive Surgical, Inc., MAKO Surgical Corp., Mazor Surgical Robotics Ltd., Robosoft, Robotic Systems and Technologies, Inc., Titan Medical, Inc., Tmsuk, Inc., among others.

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