US Robotic-assisted Surgery Market, 2016
US Robotic-assisted Surgery Market, 2016
As a Third Generation of Technology Emerges, Where is the Market Headed?
09-Nov-2016
North America
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Description
This research traces the history of the first clinical applications for robotic devices and all associated technology required to create a true robotic-assisted surgical device (RASD). The study examines the people (leaders) and entities that became pioneers and founders of the RASD industry vertical. With fundamental original equipment manufacturers (OEM) in place, Frost & Sullivan investigated which companies profited and how they profited. This research service concludes with a presentation of 3 possible scenarios for the development and proliferation of a third generation of RASDs.
This study will assist healthcare providers, hospitals, and health systems in assessing how to increase strategically and economically the number of robot-assisted surgeries as a percentage of total facility surgeries.
Analysis of the subject matter results in presentation-feasible robot-assisted technology research and development (R&D) over the immediate future, where capitalization is centered, and how RASD OEMs hope to capture market share.
Moreover, this study extrapolates the current industry vertical for robot-assisted surgery applications to a broadened value-based reimbursement surgical continuum by examining how robot-assisted surgery fits or does not fit in current Centers for Medicare & Medicaid Services (CMS) pilot studies (Comprehensive Care for Joint Replacement). Lastly, this study positions readers to adapt their current relationship with robot-assisted surgery by better understanding the sustainable business model created by Intuitive Surgical, Inc. (da Vinci®) and how this company has achieved 100% market share for over a decade.
Table of Contents
Research Methodology
Research Methodology (continued)
Executive Summary
Mapping the Accelerated Evolution of Robotic Surgery
SRI System Begins to be Noticed
Scientists, Entrepreneurs, and the Human Desire to Perform Surgery Faster and with More Accuracy
The Move to MIS
The Beginnings of a Concept for Robotic Surgery
Invasive Surgery Evolves Slowly
Solving the Paradox of Poor Resolution
The Tipping Point—Surgeons Lose Both Tactile and Direct Visualization to Technology
CAS in the Digital Age
Academic Impetus for Ongoing Change
Laparoscopy—Adapting the Hands of Surgeons
A Historic Convergence of Science and Technology
What Exactly is Robotic Surgery?
Autonomous Surgical Robots—First Generation
Autonomy Gives Way to Assisted and Collaborative Efforts
A Timeline of First and Second-generation Products
Master/Slave System—A Second Generation Takes Shape
Assessing the Early Vendor Landscape
Assessing the Initial Vendor Landscape
Assessing the Initial Vendor Landscape (continued)
Emergence of an Industry Giant—Intuitive Surgical
Intuitive Surgical Stretches FDA Clearance Criteria
Competition Heats Up (2002 to 2003)
And Then There Was One—2003
Three System Components Common for all da Vinci Surgical Robots—US Market
da Vinci Surgical System Sells Itself as a Brand
Intuitive Surgical’s Si-e, Si, and Xi General Purpose Surgical Robots
Key Differences for All US Market da Vinci Surgical Systems
da Vinci Surgical System Models and Attributes for the US Market
Intuitive Surgical Launches a 2-pronged Medical Advertising and Sales Shock and Awe Campaign
Intuitive Surgical Understands Early on that Robotic Surgical Procedure Volume Is the Key to Success
Sales Force Focuses on Driving Robotic Surgical Procedure Volume—Salesmen in the Surgical Suite
The US Market Responds—da Vinci Surgical System Enjoys Double-digit Growth from 2003 to 2008
With the US Market in Hand, the da Vinci Surgical System Sets out to Capture Global Market Share (2008–2016)
Growth Strategy Scrutinized—2012 to 2013
ISRG—Roller Coaster Ride on Wall Street for Investors
Despite the 2013 Challenges, Intuitive Surgical Captures 100% US Market Share (General Purpose Surgical Robots)
da Vinci Surgical System General Purpose Surgical Robots—Percent Sales by Model
da Vinci Surgical System List and Quoted Price
da Vinci Surgical System Service and Support Costs
Intuitive Surgical Global Performance (Q2 2016)
Intuitive Surgical—Recurring Revenue Model
Q2 2016—Highlights
Mixed Claims on the Need for Third-generation Surgical Robotics
Defining a Cost Containment and Quality Outcome-driven Healthcare Ecosystem
Defining a Nexus of Science, MIS, and Improved Quality Outcomes that Reduce Costs
Empowering the Surgeon’s Hands through Scientific Advances in Surgical Techniques and Robotic Assistance
RASD Market Responding to an Accelerated Demand for Specialized Surgical Capabilities
Intuitive Surgical—Strategic Intent Moving Forward
Intuitive Surgical—2016 Priorities and Corporate Assets
Intuitive Surgical Creating New RASD Companies
FDA Clearance—Make-or-break Proposition for RASD
Step 1—Understanding FDA’s Definition of an RASD
Step 2—Understanding the US FDA Medical Devices Classification System
Step 3—Becoming Aware of Key Factors That the FDA Believes
Demonstrating Substantial Equivalence to a Predicate
Moving Beyond Class II Medical Device Classification for RASDs
Types of Value-based Payments (VBP)
Bundled Payments
RASDs in CMS’s Hip and Knee Bundled Payments Program
Impetus for Third-generation RASDs
Surgeries Where da Vinci Challengers May Specialize
Can Anyone Challenge da Vinci?
How Will Intuitive Surgical Competitors Enter the Market?
TransEnterix
TransEnterix (continued)
TransEnterix (continued)
Stryker—Orthopedics (Total Knee and Hip Replacement)
Medtronic
Smith & Nephew
Titan Medical
Medtech
Intuitive Surgical
Verb Surgical
The Way Forward
Three Possible Scenarios for RASD Market Growth
Surgical Robots as the Next Standard of Care—2020
Scientific Evidence (Statistical Significance)—Prostatectomy RASD versus Open Surgery Technique Costs
ROI for da Vinci—To Be Determined
Scenario 1—The General Concept RASD
Scenario 2—Specialized RASDs
Scenario 3—Comprehensive Surgical Solutions Platform (Surgery 4.0)
Key Takeaways
Key Takeaways (continued)
Key Takeaways (continued)
Key Takeaways (continued)
Legal Disclaimer
Market Engineering Methodology
Popular Topics
No Index | No |
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Podcast | No |
Author | Patrick Riley |
Industries | Healthcare |
WIP Number | K07B-01-00-00-00 |
Is Prebook | No |