[190 Pages Report] Increasing demand from developed regions has concentrated the market in one place. The U.S. is the significant large market and accounts for a high number of robotic catheterization procedures. Corindus Vascular Robotics Inc., a subsidiary of Siemens AG, has operations only in the U.S. The company generated US$ 8 Mn in 2018, with sales solely in the country. Additionally, the company holds monopoly in PCI robotic catheterization systems.
The key players in the robotic catheterization systems market offer their portfolios in developed regions, mainly attributable to growing awareness about percutaneous coronary intervention, robotic catheterization procedures, and coronary artery diseases (CADs). The market is still largely in its infancy, with a relatively small installed base. However, growing adoption of robotic catheterization system by surgeons and potential leverage to operator in reducing the radiation exposure are favoring demand from end users.
A recent clinical study radiation level research with robotic catheterization and normal cardiac intervention procedures reveals that robotic catheterization systems show reduction of ionizing radiation exposure by 95%. This factor will be prominent in pushing the preference for robotic catheterization systems as an effective procedure for catheterization. Projected to reach US$ 26 Mn by the end of 2019, robotic catheterization systems market is set to thrive at an impressive CAGR of 15% during the forecast period (2019 – 2029).
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Key Takeaways – Robotic Catheterization Systems Market Study
- Popularity of robotic catheterization systems, increasing system awareness, improving reimbursement scenarios for percutaneous coronary intervention (PCI), larger patient pool for coronary artery diseases are key factors influencing the robotic catheterization systems market in developed countries.
- High upfront cost is posing a negative impact on end users’ decision to purchase robotic catheterized systems. To rework this problem, Hansen Medical is offering sensei system at a competitive pricing depicting lower accessory cost and lower total cost per procedure.
- Robotic catheterization systems installed in Chesapeake Regional Healthcare marks as the first fully integrated catheterization laboratory installed in its all intervention operating room.
- In terms of product type, electromechanical robotic catheterization systems with comparatively higher technical advantage over magnetic-guided robotic catheterization systems is expected to generate significant revenue.
- In terms of application, increasing adoption of robotic catheterization for percutaneous coronary intervention as compared to cardiac electrophysiology procedure marks higher revenue potential.
Market Leaders on Acquisition Spree
In reference to the trend in other medical device markets, key factors impacting the robotic catheterization systems market are partnerships and mergers observed in recent years. Key manufacturers are entering the robotic catheterization systems market by strategically expanding their reach through acquisitions and mergers, considering the increasing demand for these systems.
Product bundling of robotic catheterization and accessory systems at promotional rates and research contracts are forcing a decline in ASPs. Companies are focusing on limiting operational expenses to grow profitability. In contrast to these market changes, another significant factor influencing the robotic catheterization systems market is the exit and entrance of co-participating companies.
In August 2019, Corindus Vascular Robotics Inc., a prominent developer of precision vascular robotics, declared that it has settled on acquisition by Siemens Healthineers AG., representing a collective purchase price of approximately $1.1 billion. In April 2016, Hansen Medical Inc. was acquired by Auris Surgical Robotics Inc. in an arrangement with roughly US$ 80 Mn of equity value. With Hansen portfolio, Auris attained Magellan Robotic System, employed in navigating peripheral blood vessels in endovascular procedures, and Sensei Robotic System, a robotically steerable catheter system.\
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ROBOTIC CATHETERIZATION SYSTEMS MARKET TAXONOMY
The global robotic catheterization systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product
- Electromechanical Robotic Catheterization Systems
- Magnetic-Guided Robotic Catheterization Systems
Application
- Percutaneous Coronary Intervention
- Cardiac Electrophysiology Procedures
End User
- Hospitals
- Ambulatory Surgical Centers
- Catheterization Laboratories
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Region
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East And Africa