About Urology Robotic Surgery
Robotic or computer-assisted surgery was primarily developed to help doctors perform minimally invasive surgery - operations carried out through a small incision in the skin and requiring little to no stitches or staples to close. In robotic surgery, doctors precisely manipulate miniature tools attached to a robotic arm using a console and video monitor, instead of directly operating on a patient.
Technavio’s analysts forecast the global urology robotic surgery market to grow at a CAGR of 11.34% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global urology robotic surgery market for 2016-2020. To calculate the market size, the report considers the revenue generated from robotic surgical systems, instruments, accessories, and service support to key end-users such as hospitals and ambulatory surgical centers (ASC's).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Urology Robotic Surgery Market 2016-2020
Technavio recognizes the following companies as the key players in the global urology robotic surgery market: Intuitive Surgical, Titan Medical, and TransEnterix.
Commenting on the report, an analyst from Technavio’s team said: “The market has been witnessing a development in the use of low-cost robotic surgical systems, which is expected to change the market dynamics in the future. One of the reasons for low penetration rates in the market is the high cost of robotic surgical systems. Therefore, emerging competitors are currently focusing on developing cost-effective robotic systems and are likely to challenge the dominance of established vendors by providing greater affordability and technological innovation.”
According to the report, the robotic platform in lease is a business strategy used by the company to penetrate in the emerging markets. There is an increase in adoption of robotic platform under lease programs in APAC. In North Americas and Europe, the number of leasing agreements are increasing as many end users are purchasing the equipment. Leasing robotic platform is cost effective for end users which is boosting the market growth.
Further, the report states that the market has been witnessing low penetration rates, owing to less awareness among end-users, lack of skilled surgeons, and regulatory bodies concerns related to the safety of robotic surgical procedures. For instance, the penetration rate of urology robotic surgeries stood at only 25-28% in Western Europe, and 32-35% in other developed countries (includes Japan, Australia, South Korea, and Canada).
Intuitive Surgical, Titan Medical, TransEnterix.