Tuesday, October 22, 2019
Surgical Robot Market Showing Rapid Growth
Meere Co. Seeking to Export Revo-i Robot
Surgical Robot Market Showing Rapid Growth
  • By Jung Min-hee
  • March 5, 2019, 08:28
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The global surgical robot market is growing fast with the development of robotics technology.

The global surgical robot market is growing at a rapid pace with the development of robotics technology.


Johnson & Johnson is planning to invest more than US$5 billion in this sector. Approximately 70 percent of the investment is scheduled to be spent on acquiring Auris Health, an endoscopic surgical robot manufacturer.
 

WinterGreen Research, a research arm of IBM, recently said that the global surgical robot market is expected to grow from US$4.2 billion in 2016 to US$13 billion in 2022. At present, Intuitive Surgical is leading the market with a share of 65 percent. The company developed the world’s first commercial surgical robot. The U.S. FDA recently approved its biopsy robot platform for lung cancer treatment.

In South Korea, the Ministry of Food and Drug Safety approved Meere Company’s Revo-i in August 2017. The laparoscopic surgical robot forms a hole with a diameter of less than 1 cm in a patient’s body so that the surgical instruments on the robot’s four arms can be inserted and a surgery based on three-dimensional image observation can be performed.

Meere Company is planning to export the robot, which is 40 percent less expensive than the others in the same market, to Asian, European and Latin American countries. The company’s sales and operating profits jumped from 62.4 billion won and 3.3 billion won in 2015 to 181.5 billion won and 37.2 billion won in 2017, respectively.
 

In the meantime, the ministry allowed Koh Young Technology to manufacture three-dimensional measurement-based brain surgery robots in December 2016. The robots are expected to become available in the domestic market within this year. Curexo, a bone cutting surgery robot supplier, is exporting its Robodoc Surgical System and TSolution One Surgical System to Asia-Pacific countries.