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September 24, 2019

CMR Surgical joins surgical robots battle with next generation Versius

Robotic surgical systems are designed to solve the limitations currently present in minimally invasive surgeries, as well as improve outcomes in open surgical procedures.

By GlobalData Healthcare

On 17 September, CMR Surgical Limited (CMR Surgical), a UK-based robotic surgery devices company, announced that it has raised £195m ($240m) to entirely finance the global commercialisation of its next-generation surgical robotic system, Versius.

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by GlobalData
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As a modular and portable system with a competitive price, Versius may threaten the leading position of the da Vinci system from Intuitive Surgical, especially in the Europe and Asia-Pacific regions.

Robotic surgical systems are designed to solve the limitations currently present in minimally invasive surgeries, as well as improve outcomes in open surgical procedures. Usage of robotic surgical systems varies widely by therapy area and geography. While some procedures, such as prostatectomy, exhibit heavy robotic system use, other areas such as cardiovascular and neurosurgery have not yet experienced wide adoption. Additionally, the high cost of the surgical system and maintenance fees largely affect the device penetration in developing countries and regions. Unlike large console-based robotic systems, the versatility and affordability of the Versius system broadens its usage in a wider range of minimally invasive surgeries. The system received the CE mark to access the European market this March. With sufficient funding, CMR Surgical has established commercial teams in India, the UK, and mainland Europe. As a result, Versius is expected to gain more share in these regions over the next two to three years.

Driven by ageing populations, an increasing number of minimally invasive surgeries, and expanding demand for value-based healthcare, the global robotic surgery market will expand to $7.4bn by 2028, at a robust compound annual growth rate (CAGR) of 9%. Increasing adoption of robotics systems will be fueled by a growing body of clinical data, as well as a growing number of indications. As robotic systems serve to improve surgical procedures, this will, in turn, increase the patient population eligible for treatment.

The US-based Intuitive Surgical is by far the largest player in the surgical robotics market, with its flagship da Vinci system, bolstered by years of sales and exposure prior to any competitors reaching the market. Intuitive has been slowly expanding the indications for its da Vinci system, as well as expanding geographically into more countries around the world, leading to even more share. The US represents the largest market of surgical robotics. CMR Surgical has yet received FDA approval, but competition has become intense as more players, including Verb Surgical, Titan Medical, and medical giant Medtronic, are expected to debut their own surgical robots in the near future.

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Find the right pricing strategy for your medical device

How do your competitors set prices in different markets? Will reducing your prices win market share from your main competitors? Do you need to position products differently for different markets? To find out, use our Global Brand Pricing tool to achieve optimal pricing for your devices. Detect price changes, understand competitor market positioning, and plan new product launches, by accessing this tool today. It features:
  • A proprietary algorithm that leverages numerous pricing sources, with an emphasis on real-world data
  • Estimates of the likely spread of selling prices per brand and manufacturer, as well as 3-year forecasts for prices
  • Medical device pricing data that can be tracked by market, company, and brand
  • Additional categories that can be built on a custom basis
Use our tool to access competitor pricing strategies across multiple geographies, and various dynamic case studies from the likes of Germany and China, to benchmark yourself against your competitors and future proof your pricing strategies.
by GlobalData
Enter your details here to receive your free Report.

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