Medical Robotics and Computer-Assisted Surgery

Report Highlights

• The U.S. market for medical robotics and computer-assisted surgical equipment was worth an estimated $564 million in 2005. The market is projected to reach $704 million in 2006 and $2.8 billion by 2011, an average annual growth rate (AAGR) of 31.4%.
• Surgical navigation systems were the largest product segment (53%) of the U.S. MRCAS market in 2005. However, surgical robots are the fastest growing U.S. market segment, with a projected AAGR of over 43% between 2006 and 2011.
• In terms of surgical applications, neurosurgical applications accounted for the bulk of the U.S. MRCAS market-approximately 40%-in 2005. Endoscopic surgical applications are the fastest-growing application segment, and are expected account for a market-leading 45% of the U.S. market by 2011.
• The total worldwide market for MRCAS devices and equipment is expected to be $1.3 billion in 2006 and $5.7 billion by 2011, an AAGR of 34.7%.

INTRODUCTION

Information technology plays a key role in an ever-widening range of human activities, including surgery. Computers, working in tandem with a variety of microprocessor-enabled equipment and instruments, support and facilitate the work of the surgeon and have brought a level of safety and precision to surgery that would have been inconceivable just a few years ago.

These computers, electronic equipment, and instruments are referred to collectively as medical robotics and computer assisted surgery (MRCAS) or, more dramatically, "the Operating Room of the Future." Their intended function is not to replace the surgeon, but to support the surgeon with enhanced dexterity, visual feedback, and information integration.

SCOPE OF STUDY

This report:

• Identifies and segments the main types of MRCAS devices commercialized to date.
• Analyzes the historical and current volume and value of these product segment shipments in specified applications and geographical markets.
• Identifies and evaluates the impact of demographic, economic and other factors that will drive future demand for MRCAS devices.
• Forecasts the U.S. volume and value of shipments of the product segments for the period 2006 through 2011
• Identifies promising new surgical procedures and products still in the development and testing stage, and assesses and forecasts their potential market size.
• Identifies leading manufacturers of the devices and analyzes the structure of the MRCAS industry (e.g., market shares, concentration, recent M&A activity).
• Assesses the long-term outlook for MRCAS equipment, taking into account market opportunities as well as technological, financial, and economic factors.

METHODOLOGY AND INFORMATION SOURCES

The findings and conclusions of this report are based on information gathered from manufacturers and users of MRCAS and other informed sources. Interview data was combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and on-line databases to produce the baseline market estimates contained in this report.

The base-year for analysis and projection is 2005. At the time this report was prepared (i.e., early 2006), year-end data for 2005 were not yet universally available. Where necessary, market estimates for 2005 were developed using interim (partial) data for 2005, combined with historical data for the years 2002-2004.

With 2005 as a baseline, market projections were developed for 2006-2011. The market projections are "consensus" projections, obtained by averaging market scenarios obtained from industry and other sources or developed independently by BCC. The analytical methodologies BCC used to generate the market estimates are described in detail in the section on Detailed Market Projections.

All dollar projections presented in this report are in 2005 constant dollars.

ANALYST CREDENTIALS

The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC, is the author of several other Business Communications Company studies of the surgical and related medical devices markets, including: B-186R Patient Monitoring Devices; B-127R Microelectronic Medical Implants: Products, Technologies, and Opportunities; B-207 Radiation-based Therapy and Therapeutic Imaging; and C-140X Trends in the Noninvasive and Minimally Invasive Medical Device Market.