Press Release

Oct, 22 2019

Intuitive Surgical, Inc., Zimmer Biomet and Medtronic are dominating the Global Surgical Robots Market in the year 2019

Global Surgical Robots Market is expected to reach USD 19,413.63 million by 2026 from USD 6,788.29 million in 2018, at a CAGR of 14.1% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.

Access Full Report at https://www.databridgemarketresearch.com/reports/global-surgical-robots-market

The surgical robots market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to rising number of chronic diseases, technological advancements and increasing research and development activities in the healthcare industry. The market has witness developments in terms of merger and acquisitions, partnerships or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in November 2017, Verb Surgical Inc. announced a new strategic partnership with Getinge (Sweden). Both the companies together are developing a next generation surgical platform. The Verb Surgical Inc. and Getinge solution of Digital Surgery or Surgery 4.0 or will include advanced visualization, robotics, advanced instrumentation, connectivity data analytics/AI and operating room integration. Thus, it helped Getinge to enter the robotic surgery field gradually bringing a world class complementary technologies and a global footprint in surgery worldwide. Intuitive Surgical, Inc. dominated the global surgical robots market and accounts for the highest market share in 2018 which is followed by Zimmer Biomet and Medtronic. The other key players existing in the market includes Accuray Incorporated, Stryker, Smith & Nephew, THINK Surgical, Inc., TransEnterix Surgical, Inc., Verb Surgical Inc., Auris Health, Inc., Virtual Incision Corporation, Restoration Robotics, Inc. and others.

Intuitive Surgical, Inc.:

Intuitive Surgical, Inc. headquartered in California, U.S. was founded in 1995. The company is focused in the invention for minimally invasive care. The company has three business segments namely, Systems, Instruments and Accessories and Services. The instrument and accessories revenue has increased from USD 1.6 billion in 2017 to USD 2.0 billion in 2018 by 20%. This increase in the instrument and accessory revenue was owing to the procedure growth of around 18% and the higher sales of the advanced instruments which were partially offset by the procedure mix. The systems revenue increased from USD 928.4 million in 2017 to USD 1,127.1 million in 2018 by 21%. This increase in the systems revenue was due to the higher system shipments that are partly offset by the higher number of the system placements under the operating lease arrangements. The R&D expenditure of the company increased from USD 328.60 million in 2017 to USD 418.10 million in 2018. Intuitive has initiated the introduction of surgical robots to the clinical practices with the Da Vinci Surgical System for the robotic-assisted, minimally invasive surgeries and the pending Ion system for the minimally invasive biopsies for the peripheral lung. In May 2018, Intuitive started its direct business in India. This would help the company to strengthen its position in India and would also help in the expansion of their business. It has its global networks through direct sales representatives and distributors in the North America, Europe, South America, Asia, Europe and Middle East & Africa. The company has various subsidiaries such as Intuitive Surgical Sarl (Switzerland), Intuitive Surgical S.A.S. (France), Intuitive Surgical, Inc. (U.S.), Intuitive Surgical Deutschland GmbH (Germany) and Intuitive Surgical AB (Sweden) amongst others.

Zimmer Biomet:

Zimmer Biomet headquartered in Indiana, U.S. was founded in 1927. The company is engaged in the designing, manufacturing and marketing of effective and innovative solutions which would support the clinicians and the orthopedic surgeons for alleviating pain and improving the quality of life for the people across the globe. The company mainly manages their operations through the three main geographical operating segments and the four product category segments. The three major geographical operating segments include Americas, EMEA and Asia-Pacific and the four product category segments include Spine, office based technologies, craniomaxillofacial and thoracic and dental. The product related to the surgical robot market falls in the knees and spine & CMF categories. The knee sales have increased in 2018 as compared to the previous year 2017 by 1.5%. This increase in the sales is due to the recent product launches and the improved supply. The spine & CMF sales have increased in 2018 as compared to the previous year 2017 by 0.8%. This growth in the sales was owing to the continuous strong sales of the thoracic products which were partially offset by the decline in the spine sales driven by the continuous U.S. distributor integration issue. The company’s R&D Expenditure increased from USD 369.90 million in 2017 to USD 391.70 million in 2018. It has its global networks through direct sales representatives and distributors in North America, South America, Europe, Asia-Pacific and Middle East & Africa. It operates through its subsidiaries such as Zimmer Knee Creations, Inc. (U.S.), Compression Therapy Concepts, Inc. (U.S.), Zimmer Germany GmbH (Germany), Zimmer (Shanghai) Medical International Trading Co., Ltd. (China), Zimmer Switzerland Holdings Ltd (Switzerland) and others.

Medtronic:

Medtronic is headquartered in Dublin, Ireland and was founded in 1949. The company is engaged in developing and manufacturing of a wide range of therapies and products with an emphasis on offering a complete continuum of the care to diagnose, monitor and prevent chronic conditions. The company operates through four business segments which include cardiac and vascular group, minimally invasive therapies group, restorative therapies group and diabetes group. The minimally invasive therapies group consists of the surgical innovations, respiratory, renal and gastrointestinal divisions. The net sales of the minimally invasive therapies group decreased from USD 9,919.00 million in 2017 to USD 8,716 million in 2018 by 12%. This decrease in sales was affected due to the divestiture of the deep vein thrombosis, nutritional insufficiency and patient care businesses on July 29, 2017. The company’s R&D Expenditure increased from USD 2,193.00 million in 2017 to USD 2,253.00 million in 2018. The company has wide geographic presence in Americas, Europe, Africa, Middle East, Asia-Pacific. It operates through its subsidiaries such as Covidien (Irish), Corventis Inc. (U.S.), TyRx Pharma Inc. (U.S.), ATS Medical (U.S.), Given Imaging (Israel), United States Surgical Corporation (U.S.) and among others.


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