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Asia-Pacific Countries Offer Sizeable Growth Opportunities for Image-guided and Robot-assisted Surgery Finds Frost & Sullivan - Proven efficiency of IGS and RAS drives volume adoption in cardiac, orthopedic and neurological procedures - Medtech.Frost.com
Asia-Pacific Countries Offer Sizeable Growth Opportunities for Image-guided and Robot-assisted Surgery Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Kuala Lumpur, Malaysia, 2014/02/11 - Proven efficiency of IGS and RAS drives volume adoption in cardiac, orthopedic and neurological procedures - Medtech.Frost.com.

   
 
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Asia-Pacific is a hotbed of investment activity owing to the booming economic growth in its emerging countries. The market’s vibrancy has particularly aided the healthcare industry, where private hospitals are looking to make the most of these trends by investing in assistive technologies. Higher disposable incomes, deeper penetration of health insurance, and improvement in the overall quality of life have created a huge demand for quality healthcare services. Therefore, there is rising interest in efficient and patient-safety treatment protocols that can be achieved using image-guided surgery (IGS) and robot-assisted surgery (RAS).

New analysis from Frost & Sullivan (medtech.frost.com), Image-guided and Robot-assisted Surgery Market in Asia-Pacific, finds that the market earned revenues of US$217.4 million in 2013 and estimates this to grow at a compound annual growth rate of 22.1 percent to reach US$590.4 million in 2018.

"In Asia-Pacific, there has been a steady inflow of medical tourists requiring surgical interventions for non-communicable diseases," said Frost & Sullivan Healthcare Consultant Poornima Srinivasan. "Faster recovery, accuracy and precision are vital for early discharge, and these create a strong case for IGS and RAS products."

IGS and RAS have found higher acceptance in recent years due to their application in surgeries for multi-anatomical diseases. IGS systems, which were initially designed for neuro applications, are currently used in orthopedics, cardiac, ENT, dental and spinal surgeries. Similarly, RAS applications have extended from prostate surgeries to cardiac, orthopedic and spinal, among others.

Of the two, IGS has proved more popular, finding substantial deployment across most Asia-Pacific countries over the last five years. RAS is likely to remain the reserve of top-tier hospitals, mostly in Japan, Taiwan and South Korea; Australia’s adoption rates have been moderate while Southeast Asia is still in the initial stages of adoption.

However, the hefty price tags peg the market back to some extent. Healthcare stakeholders in Asia-Pacific tend to be conservative investors and are reluctant to spend on expensive equipment and manufacturer-specific consumables. With IGS systems priced at US$250,000 and RAS systems between US$1.0 million and US$3.0 million, product promoters will have their task cut out.

Reimbursement is another issue. While developing countries such as Malaysia, Thailand, Vietnam and the Philippines do not even offer reimbursement for IGS and RAS products, the amounts reimbursed in countries such as Australia, Taiwan, Japan and South Korea are often negligible.

"Nevertheless, considering the product benefits and the technologies’ acceptance, finding a cost-competitive and efficient distribution strategy will increase penetration and generate good adoption," noted Srinivasan. "Manufacturers can also overcome customer apprehensions about the high upfront costs by addressing their safety concerns through research and trial reports."

If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Image-guided and Robot-assisted Surgery Market in Asia-Pacific is part of the Advanced Medical Technologies Growth Partnership Service program. Frost & Sullivan’s related research services include: Image-Guided and Robot-Assisted Surgery Market in Western Europe. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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Image-guided and Robot-assisted Surgery Market in Asia-Pacific / P78D-54

Contact:
Melissa Tan - Corporate Communications Asia Pacific
P: +65 6890 0926 / F: +65 6890 0999 - E: melissa.tan[.]frost.com.

 
 
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Asia-Pacific Countries Offer Sizeable Growth Opportunities for Image-guided and Robot-assisted Surgery Finds Frost & Sullivan

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