Posted On: AUG-2023 | Categories : Healthcare
The healthcare industry has developed by adopting innovative operations and management technologies. Healthcare institutions like hospitals are incorporating medical robots into their daily operations, and IT firms are hastening the adoption of robotics in this sector.
In 2021, the surgical robots market was USD 5.16 billion, and by 2030 it will reach USD 20.98 billion, growing at a 16.84% CAGR during 2021-2030.
In 2020, nearly 876,000 surgical procedures were carried out using robots in the US. The number of surgical procedures using robotics will grow at a 10.5% CAGR from 2020-2030 in the US.
As of now, nearly 1 Mn minimally invasive robotic surgeries have been performed globally. Every year, there has been an average of 25% growth in robotic surgical procedures.
Several companies are working constantly in the field of robotic surgery. Stryker corporation, intuitive surgical, Zimmer Biomet Robotics, CMR Surgical, Hansen Medical, etc are some of the top companies working in the field of surgical robotics.
• Stryker Corporation
Stryker Corporation is among the leading robotic Surgery Companies with a market capital of USD 107.09 Bn and a share price of USD 283.12. It has created Mako, a robotic arm helper system that makes conducting joint replacement surgery possible. It has three main parts: data analytics, 3D CT-based planning, and AccuStop haptic technology. Over 1 million Mako worldwide procedures have been carried out to date, with Mako Systems installed in 35 countries.
Stryker has launched Mako Total Knee 2.0, a system that allows surgeons to assess knee stability during total knee arthroplasty without extra instruments. The foundation of Mako Total Knee 2.0 is Mako SmartRoboticsTM and its three essential elements, 3D CT-based planning, AccuStopTM haptic technology, and Insightful Data Analytics, which have shown improved results for total hip, total knee, and partial knee patients.
• Hansen Medical, Inc.
Hansen Medical, Inc. is a robotic Surgery Company with a revenue share of USD 16.07 Bn. It has produced two robotic systems, Magellan for peripheral vascular robotic procedures & Sensei Robotic System for interventional electrophysiology procedures.
• Zimmer Biomet Robotics
Zimmer Biomet Robotics has a market capital of 28.55 Bn and a share price of USD 137.23. It specializes in providing the best robotic healthcare services & equipment to enhance overall results. A robotic surgical assistant called ROSA has been created to aid doctors during knee and brain operations.
• Intuitive Surgical, Inc.
Intuitive Surgical Inc, has a market capital of USD 110.56 Bn and a share price of USD 315.53. It has created da Vinci surgical system that enables doctors to conduct difficult treatments with the least amount of incision & the highest level of precision, including prostatectomies, heart valve replacement, along with renal and gynecologic procedures.
• Brainlab
Brainlab has a revenue share of nearly USD 351 million. It has created Cirq robotics toprovide assistance during spinal surgical procedures and simulates a human arm. It provides stability, permits flexibility, saves time, and cuts costs.
• CMR Surgical
CMR Surgical has a revenue share of nearly USD 217.1 million. Versius is a surgical robot that helps doctors in delivering patients with the best standard of surgical care.
• Medtronic
Medtronic has a market capital of nearly USD 114.09 and a share of USD 85.79 Bn.
Medtronic was the fifth-largest player in the surgical robots market as of 2021. Medtronic was the market leader in robotic assisted spinal surgery & ranked third in robotic assisted neurosurgery. Medtronic's robotic product line-up includes Hugo RAS, StealthAutoguide, and Mazor X.
In the middle of 2021, a robotic prostatectomy was carried out in Santiago, Chile, using the Hugo system.
• Johnson & Johnson
As of August 2023, the market capital of Johnson & Johnson was 448.04 Bn.
Johnson & Johnson specializes in surgical robotics (OTTAVA), flexible robotics (MONARCH), and orthopedic robotics (VELYS).
The MONARCH Platform is capable of providing uninterrupted visual assistance throughout the process of diagnostic or therapeutic bronchoscopy treatments. It is made to better access, identify, and treat tiny, challenging-to-reach peripheral lung nodules.
The VELYS Robotic-Assisted Solution is built around how surgeons plan, carry out, and accomplish total knee replacement surgery.
OTTAVA surgical robotic platform has the ability to revolutionize surgery & deliver the best results.
• Asensus Surgical
Asensus Surgical has a market capital of nearly USD 78.49 Bn.
Asensus Surgical has addressed the financial and clinical challenges associated with laparoscopic and robotic options, transforming MI surgery. Its Senhance Surgical System digitalizes laparoscopic surgery.
In 2022, 1,900 procedures were performed, a 27% increase from 2021.
• Medrobotics Corporation
Medrobotics Corporation has a revenue of nearly USD 7 million.
Flex Robotic System is designed & developed by Medrobotics Corporation and is the first robotic surgery platform featuring a shapeable & steerable robotic scope. The system uses a flexible scope technology that allows surgeons to navigate anatomy with an integrated 3D HD vision system.
• Smith and Nephew
It has a market capital of USD 12.93 Bn and a share price of USD 29.92.
Smith & Nephew created the Navio surgical system that can perform partial and total knee replacement surgeries.
It introduced its Real Intelligence line of enabling technology solutions in 2021, along with its portable robotics system, the CORI surgical system. CORI has received 510(k) clearance from FDA and it is currently available for total and unicompartmental knee replacement applications.
• Titan Medical
Titan Medical has a market share of USD 19.748 million.
Three components make up Titan Medical's ENOS robot-assisted surgery system. First, a patient cart with two articulating arms and two lighted camera systems, followed by a surgical workstation with a 3D high-definition display that offers a vital balance of surgical immersion and situational awareness. Lastly, multi articulated instruments provide flexible control for end effectors during surgical processes like suturing, grasping, cutting, and coagulation.
• ReWalk Robotics
ReWalk Robotics annual revenue in 2022 was USD 5.51 Mn.
Exoskeletons made by ReWalk are helpful for both private and public rehabilitation. The ReWalk Personal 6.0 is a compact exoskeleton with motors at the knee & hip joints, designed to be worn as a battery-operated device. It replicates the leg motion of a human through body movement.
• Globus Medical
As of August 2023. The market capital of Globus Medical was USD 5.74 billion.
In 2021, Globus Medical ranked as the sixth-largest player in the surgical robotics market. The ExcelsiusGPS robotic guidance and navigation system by Globus Medical is utilized for orthopedic and neurosurgery spine surgeries. In August 2017, the FDA cleared ExcelsiusGPS, which Globus Medical purchased in 2014 from Excelsius Surgical.
Early in 2023, Globus announced plans to purchase NuVasive for US$3 billion in an all-stock transaction to strengthen its position as a market leader in spine devices.
• Siemens Healthineers
Siemens Healthineers has revenue share of USD 22.58 billion.
The Corindus CorPath GRX from Siemens Healthineers is intended to support and safeguard interventional cardiologists during challenging percutaneous coronary procedures. It helps to select stent and assures precision in device location, enabling operators to handle difficult anatomies more consistently and predictably.
• Corindus Vascular Robotics, Inc.
Corindus Vascular Robotics is the leading provider of accurate vascular robotics. The CorPath platform is the first FDA-approved medical device with robotic precision for percutaneous coronary & vascular treatments.
• Diligent Robotics
Diligent Robotics has a revenue share of nearly USD 4.51 million.
The Moxi robot from Diligent Robotics blends social intelligence with AI-powered automation to carry out routine medical tasks. It also has the awareness to adapt to operations through repetition.
• Vicarious Surgical
Vicarious Surgical has a market capital of USD 269.01 Mn and a share price of nearly USD 2.12.
Its surgical robotics system is specifically designed to treat ventral hernias using minimally invasive procedures.
• Ekso Bionics
Ekso Bionics has a current revenue share of nearly USD 14.47 million.
Ekso Bionics creates wearable robots that help people in regaining movement and fight mobility loss. By enabling over 180 million Ekso-assisted steps, Ekso Bionics has assisted thousands of people with lower limb problems and given birth to a whole new medical device business.
• Auris Surgical Robotics
They are changing healthcare through innovative platforms that enhance physician abilities, improve MI practices, and set new benchmarks for patient care. They are combining robotics, endoscope design, micro instrumentation, sensing, and data science into a single platform.
• ZAP Surgical Systems (Radiology)
A US based startup, ZAP Surgical Systems, created radio-surgical robots for non-invasive ablation of head and neck cancers. ZAP-X has a self-shielded design that allows for point-of-care delivery in previously unsuitable locations without the need for traditional radiation vaults.
• Simulated Surgical Systems
Simulated Surgical Systems develops simulations for use in robotic surgery. It trains beginning surgeons in robot-assisted surgery in a safe, effective, and practical manner.
• Micro Sure (Microsurgery)
A robot for "superhuman precision in microsurgery" is being developed by Microsure. The device gives microsurgeons extremely high precision, control, and stability, enabling new operations that are now not viable to carry out manually. For instance, MUSA may join vessels as small as 0.3mm while maintaining the OR's workflow framework.
• Think Surgical (Pre Surgical 3D modeling)
Robotic surgical systems are produced for orthopedic surgery by THINK Surgical. The device consists of two parts: a computer-assisted instrument for precise cavity and surface preparation during hip and knee replacement procedures and a 3D pre-operative planning workstation for planning surgeries.
• Sarcos Robotics
Sarcos Robotics develops dexterous robots that protect users, save lives, and create new opportunities.
• HistoSonics
HistoSonics has developed the Histotripsy technique. It is an image-guided therapeutic ultrasound technology that removes tissue without any bodily contact. Its technology is used in Cardiovascular, cancer, neurology, and urology.
• Neocis
Neocis is using advanced robotics to transform dental implant surgery. Yomi is the first robotic dental surgery equipment that has received FDA clearance.
• Memic
Memic has developed a surgical robotic platform called Hominis. This surgical platform is appropriate for transvaginal benign surgical operations like oophorectomy, benign hysterectomy, adnexectomy, salpingectomy, and ovarian cyst removal.
• ForSight Robotics
ForSight Robotics has developed a platform for carrying out robotic eye surgery. It automates ophthalmic procedures that treat disorders that cause avoidable blindness by combining robotic imaging technologies, microsurgical technology, and cognitive computing techniques.
• Moon Surgical
Moon Surgical is creating a new surgical subspecialty that will improve on conventional laparoscopy with the Maestro System. With its cutting-edge surgical aid platform, which supports high-volume surgeons doing procedures like cholecystectomy and hernia repairs & difficult multi quadrant procedures, laparoscopic surgery may be performed with greater control and precision.
• Quantum Surgical
Quantum Surgical has healthcare through medical robotics. It has developed Epione, an innovative robotic approach to eliminate tumors in the abdomen by introducing a needle through the skin.