The surgical robot market was valued at $2.4 billion in 2011, and is expected to grow into an $8.5 billion industry by 2018.
Surgical robot market growth is set to be driven by the introduction of next generation devices, systems, and instruments which are being introduced to manage surgery through small ports in the body instead of large open wounds.
The automated process revolution in surgery and communications is being implemented via robots. Robots are automating systems, while providing significant improvement in the accuracy of surgery.
Buoyed by strong demand and sales, surgical market profit margins have increased considerably during the past five years. In 2011, industry participants are expected to bring in profit margins of 11.8% on average, up from just 8.1% in 2006.
Rising profitability has also led to a wave of new entrants over the same period. Since 2006, the number of total enterprises is expected to increase at an average annual rate of 6.6% to 33 companies.
Apart from the dominant market player, Intuitive Surgical, the industry is highly fragmented. Intuitive's robotic surgical system (da Vinci) was the first to go to market, and it is also one of the only products that can be used in most surgical fields. Other companies include Accuray Inc. (CyberKnife, TomoTherapy), Hansen Medical, Otto Bock and Prosurgics Ltd.
Mako, which makes robotic devices that help surgeons conduct less invasive operations, saw its shares fall 40% earlier this week, meaning it now expects to sell 42 to 48 RIO systems in 2012, down from its earlier forecast of 52 to 58 RIO systems.
For more information on the surgical robot market, see the latest research: Surgical Robot Market Report
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