Remote Surgical Equipment Market: Introduction
- Remote surgery, also known as tele surgery, involves robots performing a surgical operation on a patient situated at a distant site
- Surgeon controls the movements by small handles attached to master input devices designed intentionally for remote handling
- These movements are reproduced by robots, giving the surgeon a direct control on the surgery while being distant
- This technology has the capability to facilitate advanced surgery procedures to those individuals who live in remote areas and away from large medical facilities
- Remote surgery offers certain benefits over traditional mini-invasive surgeries, such as 3D vision, and an ergonomic system with motion capabilities.
Key Drivers of Global Remote Surgical Equipment Market
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Increasing preference for minimally invasive surgery
- The global remote surgical equipment market is being driven by increasing preference toward minimally invasive surgery (MIS), which is preferred for remote procedures. This can be attributed to minimally invasive procedures being less painful due less bleeding and number of cuts unlike traditional surgeries. MIS can be performed with the help of robots from remote locations. This factor is driving the global remote surgical equipment market.
Rapid technological breakthroughs in medical robotics
- The global remote surgical equipment market is driven by rapid technological breakthroughs in medical robotics. For instance, MiroSurge is a modular tele surgical system for MIS procedures, which combines various robotic components, including three robot arms and at least two other instruments. Furthermore, Da Vinci is a computer assisted tele manipulator that allows surgeons to remotely perform minimally invasive procedures involving complex and delicate dissection or reconstruction system procedures for a variety of conditions, including cardiac, urologic, gynecologic, and pediatric surgery. Such instances are driving the global remote surgical equipment market.
Advancements in information and communication technology
- The global remote surgical equipment market is being driven by advancements in the information and communication technology (ICT). For instance, the Lindbergh operation was a completely remote surgical operation performed by a team of French surgeons from New York on a patient located in France. During this procedure, a transatlantic fiber optic service having high bandwidth and running at 10 Megabits per second restricted delays to 200 milliseconds, thus providing real time view during the procedure. Furthermore, development and adoption of 5G communication networks is expected to facilitate more number of remote surgeries. These factors are likely to fuel the expansion of the global remote surgical equipment market.
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North America to Lead Global Remote Surgical Equipment Market
- North America is expected to dominate the global remote surgical equipment market due to increase in acceptance of remote surgeries by patients, advanced health care infrastructure, and rise in investments in R&D
- Growing incidences of chronic disorders, especially orthopedic and neurological disorders, which are treated with advanced MIS surgery, are propelling the market growth in North America
- Asia Pacific is projected to be a major market for remote surgical equipment after North America due to rapid development of robotic surgical systems and increase in demand for surgical robots in countries such as China and India
- Ageing population and strong focus on health care and manufacturing expertise are anticipated to contribute to the growth of the remote surgical equipment market in Asia Pacific during the forecast period
Key Players operating in Global Market
The global remote surgical equipment market is concentrated due to the presence of a few major players in the global market. The demand for remote surgical equipment is gradually increasing in developed economies and awareness has risen in emerging countries. Key players operating in the global market are:
- Intuitive Surgical
- Auris Health, Inc.
- IRobot Corporation
- MAZOR Robotics (Medtronic)
- TransEnterix Surgical, Inc.
- SRI Intentional
- Simbionix USA Corporation
- Mimic Technologies, Inc.
- Simulated Surgical Systems, LLC
- VirtaMed AG
Global Remote Surgical Equipment Market: Research Scope
- The global remote surgical equipment market can be segmented on the basis of component, application, and region
Global Remote Surgical Equipment Market, by Component
Global Remote Surgical Equipment Market, by Application
- Gynecology Surgery
- Urology Surgery
- Orthopedic Surgery
- General Surgery
Global Remote Surgical Equipment Market, by End-user
- Specialty Clinics
Global Remote Surgical Equipment Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.