Monday, July 15, 2024

Clinical Trial Snapshot: Robots in Surgery

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Clinical advancements are rapidly expanding the competitive landscape of surgical robotics, as numerous companies enter the market driven by increasing market value. The robotics industry, encompassing various sectors, is growing at an impressive pace. This growth is particularly evident in healthcare, where robotics plays a significant role in enhancing surgical procedures.

Globally, the robotics industry is experiencing a compound annual growth rate (CAGR) of 29% and is projected to reach a market value of $568 billion by 2030, according to GlobalData. Surgical robotics, a crucial segment of this industry, was valued at $8.6 billion in 2022 and is expected to grow to $10 billion by the end of this year.

Clinical Innovation Drives Market Growth: Surgical Robotics to Reach $15.8 Billion by 2030

The market is anticipated to continue its upward trajectory, growing at a CAGR of 8% to reach $15.8 billion by 2030. This growth is fueled by a shift towards less invasive surgical options, which offer numerous benefits including reduced recovery times and lower risk of complications.

Kiran Raj, the practice head of disruptive tech at GlobalData, notes that companies are investing heavily in proprietary robotic technologies, integrating advanced artificial intelligence (AI) systems to reduce reliance on external platforms and improve operational efficiencies. The da Vinci system by Intuitive Surgical is one of the most renowned surgical robots, dominating the market. As AI becomes more seamlessly integrated into robotics, numerous companies are emerging with innovative solutions.

Several companies have made notable advancements in surgical robotics through clinical trials and technological developments:

Microbot Medical has been actively securing sites for a human clinical trial of its Liberty robotic system. This single-use endovascular system, which received clearance from the U.S. Food and Drug Administration (FDA) last month, aims to enhance procedural efficiency. In 2023, the company secured $440,000 in funding from the Israel Innovation Authority to advance manufacturing processes for the system.

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Clinical Success: Vitestro’s Autonomous Blood-Drawing Device Shows Positive Trial Results

Vitestro, based in the Netherlands, reported positive results from a trial evaluating its autonomous blood-drawing device in May 2024. The pivotal phase of the Autonomous Blood Drawing Optimization and Performance Testing (ADOPT) study met its primary endpoint, demonstrating the efficacy of the AI-augmented system in reducing the need for manual blood draws and easing workloads.

Johnson & Johnson MedTech is preparing for a clinical trial of its OTTAVA robotic surgical system. The company plans to submit an investigational device exemption (IDE) application to the FDA in the second half of 2024. Approval of this application would allow the OTTAVA system, which can be integrated into any operating room, to be used in clinical trials later this year.

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Ronovo surgical secured $44 million in a Series B funding round in June 2024. Emerging from stealth in February last year with over $50 million in funding, Ronovo completed its first-in-human trial in September 2023. The company recently launched the Ronovo Institute of Surgical Excellence in Florida, aiming to deepen clinical collaboration with international surgical experts and medical societies.

Despite the promising advancements and market growth, several challenges remain for the long-term implementation of robotic systems across industries. Saurabh Daga, project manager for disruptive tech at GlobalData, highlights obstacles such as cybersecurity concerns, interoperability issues, and high implementation costs. These factors currently hinder the full integration of robotics in various sectors.

However, the potential benefits of surgical robotics continue to drive innovation and investment. As companies overcome these challenges, the integration of advanced AI and robotic technologies in healthcare is expected to transform surgical procedures, offering more precise, efficient, and less invasive options for patients worldwide. The ongoing clinical trials and developments in surgical robotics signify a promising future for this dynamic and rapidly evolving field.

 

Resource: Medical Device Network, July 05, 2024

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