While robotic surgical devices have penetrated much of the US and Europe, future growth is expected to be strongest in Asia. It is estimated that Asian surgical robotic sales will hit $10 billion in 5 years. Asia’s quickly aging population and the fact that more Asian governments are now focusing on providing better healthcare will be two of the growth engines. Equally important will be increased reimbursement for surgical procedures as the advantages are recognized. Japan, China, and Korea lead the way for reimbursement for robotic surgical procedures with other Asian medical markets set to follow soon.
Industry leader Intuitive Surgical has seen excellent growth in the Asian region over the last ten years. However, as Asia becomes more accepting of robotic surgery, so has the growth of local Asian device robotic competitors. Chinese companies like the Weigao group, Beijing Tinavi Medical Technologies, and Medical Healthcare Robot BU are developing their own local competitive robotic products. Korean companies (CUREXO, Meere) and Japanese companies (Medicaroid corporation) are also getting into the robotic game.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with business development and regulatory issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.
Source used in the article: https://www.fool.com/investing/2021/04/03/in-asia-intuitive-surgicals-growth-story-is-just-b/#:~:text=It%20is%20estimated%20that%20the,in%20the%20past%20few%20years.