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Robotic Surgery Market
 The current global robotic surgical market size is approximately $1 billion and is estimated to grow to $5 billion by 2015 with potential for placement of 6,000 robotic surgical systems. As of end-2010, only 1,752 robotic surgical systems have been installed globally. The advantages of robotic surgery are precision, miniaturization, smaller incisions, decreased blood loss, less pain, shorter healing time and articulation beyond normal manipulation. The opportunity for Ttitan Medical is impressive in this large and fast, growing market. Indeed, several hospitals are installing more than one robotic surgical unit and evidence has shown that the impact of robotic platform change should be minimal in an established program (Source: MOHAMED A, RASMUSSEN, J. Switching Robotic Surgical Systems Does Not Impact Surgical Performance. JOURNAL OF LAPAROENDOSCOPIC & ADVANCED SURGICAL TECHNIQUES. Volume 18, Number 1, 2008; 32-36).
Low Penetration and High Potential for Robotic Surgery
There is a potential 2,000,000 surgeries annually worldwide for robotic surgery, however only 278,000 surgeries in 2010 were performed by robotics. Based on its relatively low penetration rate, robotic surgery is still in its infancy and offers a lucrative opportunity for next generation robotic surgical technologies to fill the gap and penetrate the market aggressively. The Company is focused and poised to take advantage of this opportunity by advancing its next generation robotic surgery platform, Amadeus, in order to quickly penetrate surgeries that are either currently not served or underserved by today's robotic surgery technologies. We believe that with our next generation robotic surgical system platform we can penetrate and grow the number of surgeries using robotics.
Market Acceptance for Surgical Robotics
To date, leading robotic surgical technologies have successfully incorporated robotics technology in the surgical field for use in complex surgery concentrated mainly in urology and gynaecology with limited penetration in cardiothoracic surgery and catheter-based interventional cardiology and radiology. However, the success of robotic technologies in these applications has led to the growing adoption and commercialization of these technologies in the medical world.
Importance of a Robotic Surgery Program
The demand for surgeons to implement a robotic surgery program in their hospital is growing and potential patients are researching and seeking out experienced surgeons who can perform superior outcomes using less-invasive surgical procedures. As a result, an established robotic surgery program represents a critical marketing tool for hospitals to attract patients. Hospitals also benefit from a cost-savings point of view. It has been shown that surgery using robots decreases the length of time a patient stays in the hospital after surgery; lessens the risks of complications typically associated with traditional surgery; improves post operative pain management; decreases staff to patient ratio; and increases the hospitals operations. Overall, hospitals want short length of stay and improved outcomes. This makes outcome based compensation more profitable. More importantly, government and insurance companies will recommend patients to hospitals that have a robotic surgery program. |
