The surgical robot market is expected to reach $275 billion by 2025, nearly tripling in size from 2018 as new systems from some of the biggest device-makers challenge Intuitive Surgical.
As the early days of robotic surgery give way to more precise control and better patient outcomes, early pioneers like Intuitive Surgical Inc. are seeing increased pressure from large companies like Johnson & Johnson and Medtronic PLC, which have made major M&A investments to crack into the market in recent years.
Intuitive's da Vinci system was first approved by the U.S. Food and Drug Administration in 2000 for urology. Since then, the number of companies staking their future on the growing space — either in general surgery or orthopedic — has only grown.
Analytics firm GlobalData reported in November 2019 that the surgical robot market is expected to reach $275 billion by 2025, almost tripling in size compared to 2018 when the market accounted for $98 billion.
"The reason for this incredible growth rate is that robotics can revolutionize almost any type of surgery, including cardiology, oncology and neurology," GlobalData Data Scientist James Spencer said. "It is just a matter of how the technologies can be applied."
Story: Battle bots: J&J, Medtronic challenge pioneer Intuitive in surgical robot market
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