“Robotics is something that is going to be a big part of the company going forward,” said Martha, who is scheduled to take the helm on April 27, 2020. Given Medtronic’s resources, “this is something that we can do, and this is something that we will win at,” he boasted.
Milestone Projections:
*apply for CE mark certification in Europe in the first quarter of fiscal 2021
*file with FDA for an investigational device exemption in the first half of fiscal 2021
The IDE will allow for U.S. system placements, training and clinical data gathering. Studies in chapel hill North Carolina will begin in the second half of the current fiscal year.
I believe that Titan’s robot might be better for a certain category of procedures than Intuitive Surgical's platform which could result in a form of segmentation among hospitals
i believe that the market is not a zero-sum game and that TMDI/MDT entry should help to significantly expand the market.
As everyone on this board all ready knows Titan is aiming to bring robot-assisted procedure costs into line with laparoscopic surgery
the current robotic surgery market as vastly under-penetrated, at just 2% of all surgeries performed worldwide. Low adoption and utilization rates are due to a high cost per procedure, the average installed system is being used only once per day.
While the company expects robotic surgery to be a significant contributor to growth in the coming years, it projected a minor financial impact in fiscal 2021, followed by a “more meaningful” contribution in 2022 and 2023.
Jefferies analyst Raj Denhoy calculated Medtronic’s robotics revenue at a modest $200 million to $250 million, or 1% to 2% of an expected $20 billion market, by fiscal 2023. “Despite subdued messaging, robotics still has the potential to bend the overall growth curve over time,” he wrote.
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