Single Port Surgical Platform Market to Receive Overwhelming Hike in Revenues by 2024
Albany, NY -- (SBWire) -- 06/22/2018 --Single port surgical platform (SPSP) is a minimal invasive laparoscopy technique in which, a single incision is made on the body through single trocar which have multiple ports or single skin incision site with multiple facial incisions that have an individual trocar, are used to conduct the surgery. Single port surgical platforms are also called Single Port Access Surgery (SPA), Single-Incision Laparoscopic Surgery (SILS), and Laparo-endoscopic Single-Site Surgery (LESS). Normally, in abdominal surgeries, large incisions are made to conduct the surgery. Although, they are effective but they usually cause postoperative pain, wound infections, and prolonged hospitalization. Current rate of incisional hernia is 4-18% and wound infections are 2-25% in the U.S whereas, in case of conventional laparoscopic surgeries, multiple incisions are made on the body to conduct the surgery. To overcome the above challenges, companies are focusing on developing the novel single-port surgical platform, which creates single incision on the body. This surgical platform also helps in speedy recovery, small incisions, and are less prone to infections and pain conditions. In addition to these, it does not leave any scars on the body after the surgery.
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The market is driven mainly by factors such as technological innovations, increase in adoption of SPSP, growing preference towards minimally invasive surgery process, and exploration of their utility in other applications Ex: General Surgery, Gastroenterology, Urology, Gynecology and Bariatric Surgery. Increasing preference towards scar-less slimming surgeries is a major factor responsible for boosting the market growth. This platform allows surgeons to conduct surgeries in the abdominal cavity by accessing through small holes. Furthermore, SPSP reduces treatment costs by reducing hospital stay of the patients. Hence, patients and surgeons are prefer SPSP as compared to others. The major constraints of this market are high cost, lack of skilled professionals, and triangulation problems. The single port surgical platform (SPSP) is segmented based on its application and technology.
New products are being launched into the market to alleviate the disadvantages of the current SPSP platforms. SPSP is a lucrative segment in the laparoscopic surgeries, due to its technical aspects and patient benefits. On the basis of application, SPSP is mainly used in Bariatric surgeries. However, they are gaining traction of the other application areas such as gynecology, urology, gastroenterology, and general surgery due to its advantages.
On the basis of its technology, the manual assisted SPSP holds major market share as compared to robot-assisted. In future, robot/ remote controlled technology is expected to dominate the market because surgeons can perform the complex surgeries in a more accurate and flexible way than the conventional surgery process by using the robot/ remote controlled technology.
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Recently, Intuitive surgical, a U.S.-based company, received FDA approval for its da Vinci Sp single port robot-assisted surgical system.
SPSP is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is holds a major market share on the basis of application of the SPSP owing to factors such as spending power of the people and introduction of new technologies into the market. Asia-Pacific markets are growing relatively fast due to cost effective surgeries and advancements in healthcare infrastructure.
Key players in this market are Covidien, Applied Medical, Ethicon, Olympus Gyrus-ACMI, Novare Surgical, Cambridge Endo, Karl Storz, Intutive surgical, Fortmedix Surgical, and Trans Enterix. The market is relatively dominated by major players however, new players are trying to hold a major part of the market share by developing innovative products.
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