VANCOUVER, British Columbia, April 21, 2017 /PRNewswire/ -- According to a new series of reports on the China surgical navigation and robotics systems market by iData Research (www.idataresearch.com), the market in China is currently dominated by Intuitive Surgical, but has seen the entrance of companies such as Medtech and Accuray, predominantly in neurosurgery and radiosurgery applications. The market as a whole is expected to increase considerably as system sales increase and revenue from procedures, maintenance and services increases as a result of the growing installed base.
"The MIS robotic device market in China is the most mature and sees Intuitive Surgical as the market leader, but several companies are developing systems which will compete with Intuitive's system," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "As the installed base grows, the number of procedures will increase yearly, yielding a higher percentage of revenue from procedures."
The Chinese robotic assisted surgery system market is expected to grow at a compound annual growth rate (CAGR) of over 14% through 2023 as a result of increasing adoption of robotic technologies in the neurosurgery, minimally invasive surgery (MIS), radiosurgery and spinal markets. Currently, the MIS, neurosurgery, and radiosurgery application segments are firmly established in China. Very small installed bases exist for systems with spinal applications and these are also expected to exhibit growth.
Overall, the surgical robotics market in China is still in its infancy. In addition to imported systems, several domestic companies are developing systems in a variety of procedural segments. Hong Kong has been a leading region for early system placements, with the first system, a da Vinci®, installed in Hong Kong's Prince of Wales Hospital in 2005. As many robotics companies begin to expand partnerships with established medical device companies, sales of robotic surgery systems are expected to increase significantly. Gynecological procedures are the largest specialty of the da Vinci® system in China, followed by general surgery.
Additional competitors in the China robotic assisted surgery market include Accuray with their CyberKnife® system and Medtech who currently sells ROSA®, the only robotic surgery system approved for neurosurgical procedures by the China Food and Drug Administration (CFDA). Neurosurgical procedure applications include stereoelectroencephalography (SEEG) treatment for epilepsy, as well as hydrocephalus shunt, electrode placement, endoscopy and deep brain stimulation. It is expected that other companies will enter the Chinese market in the near future.
For Further Information
More on the surgical robotics market in China can be found in a series of reports published by iData Research entitled the China Market Report Suite for Surgical Navigation and Robotics Systems. The segmentation for surgical navigation includes systems with neurosurgery applications, spinal surgery applications, ear, nose and throat (ENT) applications, and orthopedic hip and knee applications. The segmentation for surgical robotics systems includes robotically assisted neurosurgery systems, minimally invasive surgery (MIS), robotically assisted radiosurgery systems and an appendix with qualitative data regarding robotically assisted spinal surgery systems.
The iData report series on robotic surgery systems covers the U.S., China, Australia, Japan, India and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about robotic surgery systems market data, register online or email us at firstname.lastname@example.org for a China Market Report Suite for Surgical Navigation and Robotics Systems brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Endoscopy, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ophthalmics, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics and more.
We have built a reputation and earned our clients' trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.
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SOURCE iData Research