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June 28, 2019

Coming soon to a hospital near you: Medtronic’s new robot

Medtronic has been positioning itself to become a competitor within the robotic surgical space with its purchase of Mazor Robotics in December 2018.

By GlobalData Healthcare

Medical device company Medtronic is partnering with Germany’s Karl Storz to boost its planned surgical robotic surgery platform.

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by GlobalData
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Surgical robotics

The partnership incorporates Karl Storz’s visualisation systems, including the revolutionary 3D vision system, into Medtronic’s proposed surgical robotic platform.

Ireland-based Medtronic has been positioning itself to become a competitor within the robotic surgical space with its purchase of Mazor Robotics in December 2018.

The company launched the Mazor X Stealth robotic-assisted spinal surgical platform in the US earlier this year. The Mazor X Stealth platform combines Medtronic’s Stealth Software with Mazor’s Mazor X robotic-assisted surgical platform, creating the first product to come out of the original acquisition.

As competition heats up in the robotic surgical space, Medtronic will become a threat to US company Intuitive Surgical . However, Intuitive Surgical still has the largest installed base of surgical robotic systems globally with its da Vinci system. The new unnamed surgical robotic system is touted to rival the da Vinci in terms of surgical capabilities and will be ready for market launch in 2020. Even the currently installed base for the Mazor X increased rapidly from 2015 to 2018.

Mazor has steadily increased its installed base from 2015–2018 at a compound annual growth rate (CAGR) of 29.6%, with higher growth within the US at a CAGR of 40%. With its planned robotic surgical system and healthcare infrastructure already set, Medtronic will be able to increase its share within this market at a staggering level within the next 3 years.

Related Companies

Free Report
img

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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