There are a handful of companies in the robotic surgical space. But that is about to change. There is ample evidence that the robotic surgical device market is going to explode in the next 3 to 5 years.
We recently spoke with Todd Pope, CEO of TransEnterix who said there is a lot of opportunity in the market: “If you look at Europe and the U.S., there are 4 million open procedures and 6 million laparoscopic procedures done each year.”
Dr. Philip Miller noted that even critics of robotic and plastic surgery agree that the technology space is growing. “I don’t think there is any analyst that doesn’t have the market growing by 300–400% over the next 5 to 7 years. “Pope said he is looking forward to others being in the market because it will drive more interest, more applications and more opportunity to find out where a robotic surgical application can make a difference and expand markets.
But the robotic surgical device market has a high barrier to entry – and the big competitors have more than a decade of experience under their belts. With that in mind, we thought it might be important to share some advice to those firms thinking about entering the fray.