After Tianzhihang's IPO, which areas will the dark horse of surgical robots run out of?

Read: The listing of Tianzhihang has further strengthened the confidence of the domestic capital market in surgical robots. The surgical precision carried out with the assistance of the surgical robot is higher, the bleeding is less, the patient recovers faster
Dao Yu Investment
june 3, the
, the CSRC announced that it agreed to Beijing Tianzhihang Medical Technology Co., Ltd. (hereinafter referred to as "Tianzhihang") the initial public offering of shares registration.
Tianzhihang focuses on the development, production, sales and service of orthopaedic navigation and positioning robot, and is the first company to obtain a three-class medical device registration certificate for orthopaedic surgery robot issued by CFDA.
's listing of Tianzhihang has further strengthened the confidence of the domestic capital market in surgical robots. The surgical operation with the assistance of the surgical robot is more accurate, the bleeding is less, and the patient recovers faster.
in the surgical robot market, although intuitive surgery has long dominated the world, but the industrial landscape has been a new entrant. Medtron, Johnson, Stryker and other giants have entered the market, the domestic also emerged a wave of start-ups.
the future, what are the new trends in the medical robot industry, and what areas can run out of dark horses?
Arterial Network (microsignal: vcbeat) compiled and edited the study of Dao's investment in the surgical robot industry. Tao Yu investment focused on early investment in the medical and health industry, in early 2017 invested in Hangzhou, an intuitive surgical background of the surgical robot company, in a few years, the art venture has achieved a series of research and development results, completed a number of rounds of follow-up round financing, the end of 2019 won the National Pharmaceutical Singold and Zhejiang Venturecapital billion-level financing. At the same time as deep participation and accompanying the growth of surgery, Dao Also observed the growth and change of the surgical robot industry in recent years. The following is a major summary:
core view:
1.
the development of medical robot industry is an inevitable trend.
in the context of the aging of the global population and the serious shortage of medical personnel in the future, intelligent medical robots will become the most important solution to solve the imbalance between supply and demand. China's medical robot market has grown more than tenfold in the past four years.
2.
the medical robot market is the world's second largest, while the surgical robot market accounts for the largest share of the medical robot market. Surgical robots are the next generation of surgical methods, with smaller trauma and shorter postoperative healing times.
3. Surgical robot equipment and consumables and service model can be self-contained commercial closed loop, of which consumables will account for more than 50% of the surgical robot market share.
4. From a technical point of view: surgical robot has entered the natural cavity stage, including vascular intervention, bronchoscopy surgical robot, the future can also be extended to the urethra, anus and so on;
5. For surgical robot enterprises: the development of equipment is only the first step in the long march, from matching supplies, regulatory patents, training, to the accumulation of clinical cases, a good robot company also needs to constantly build up the ecology around its equipment.
aging, insufficient supply of medical resources, high-quality medical-driven medical robot development
from the industrial point of view, the development of medical robot industry is an inevitable trend, in the global aging population and the future serious shortage of medical personnel, intelligent medical robot is the most important solution to solve the imbalance between supply and demand.
at present, the demand for medical robots is driven by three factors. The first is an ageing population, with about 901 million people aged 60 and over worldwide in 2015 and 1.4 billion in 2030. In China, the population aged 60 and over will reach 248 million in 2020, accounting for 17% of the total population. Over the next 20 years, China will enter a period of rapid aging, with more than 20 per cent of the population expected to be aged 60 and over by 2040.
followed by a shortage of medical resources. According to the WHO, there will be a global shortage of about 12.9 million health care workers by 2035. According to statistics from the Chinese Nursing Association, there is a gap of at least 1 million nurses in China. According to a study by the China Institute of Social Management, by 2020, China's semi-depotage will reach 6852-75.9 million, the elderly with out of ability will reach 599-6.74 million, and the number of nursing workers should reach 657-7.31 million, compared with just over 50,000 licensed nursing workers.The third
is the growth of high-quality medical demand, medical robots in the minimally invasive technology has the advantages of small bleeding, more accurate, faster recovery; According to Trading Economics, the average disposable income of Chinese will reach $6,606 by 2020.
surgical robot is the next generation of surgical methods
with reference to the International Federation of Robotics standards (IFR), medical robots can be divided into surgical robots, rehabilitation robots, auxiliary robots, service robots four categories. According to Boston Consulting, the world's medical robots will reach $11.4 billion by 2020, making them the second-largest market for robots. China's medical robot market has grown more than 10 times in four years (2016-2020), and the overall market is now only one-tenth of the world's.
surgical robots will account for the largest market share, surgical robots in the market supplies will account for more than 50% of the surgical robot market share.
surgical robots are the next generation of surgical procedures,
relying on advances in technology, surgeons will have shorter learning curves, more standardized surgical outcomes, and patients will have smaller wounds and shorter postoperative healing times. The mode of surgical robot equipment and consumables and service can be self-contained commercial closed loops, which is why the major equipment giants are willing to pay a high price to acquire robot-related targets.
surgical robot according to the classification can be divided into: laparoscopic surgery robot (urology, gynecology, general... Orthopaedic surgery robot (spinal, joint... Neurosurgery robots, vascular interventional surgery robots, bronchoscopy surgery robots, ophthalmic surgery robots, etc. . .
. Domestic surgical robot project
surgical robot scorpion of specialty, miniaturization trend
from the domestic market, China has passed the early stage of market education, the role of clinical surgical robots has been fully recognized, the current departments are lacking is an effective and stable and cost-effective solution.
from a technical point of view: surgical robot has entered the natural cavity stage, including vascular intervention, bronchoscopy surgery robot belongs to the category of natural cavity,
the future can also be extended to the urethra, anus, etc. ;
starting a business in the field of surgical robots, putting very high demands on the founding team's technical reserves, financing capabilities, regulatory patent applications, and familiarity with the global supply chain. From research and development prototypes, clinical trials, to production and sales, any pass can not be done before a large amount of capital investment lost. For early start-ups, being able to do a good job in the global patent layout can hedge the associated risks to a certain extent.
also reminds all entrepreneurs in this field: developing equipment is only the first step in the long march, from matching supplies, regulatory patents, training, to the accumulation of clinical cases, a good robot company also needs to constantly build up the ecology around its equipment.
as the leading medical investment institution in China, Dao Wei Investment continues to be optimistic about the future of surgical robot huge growth space, Dao Yu investment also look forward to supporting more outstanding entrepreneurs in this field forward.

industry leader
:
IntuitiveSurgical
: Intuition Surgical's Da Vinci Surgical RoboticSis System has a near monopoly in laparoscopic robotics, with a market capitalization of $60 billion. Intuition Surgery's business revenue reached $4.4 billion in 2019, up 22 percent from 2018, with 72 percent of its recurring revenue including accessories and supplies, services, and leasing, with the remaining $1.3 billion in equipment revenue.
the number of operations using Da Vinci robots worldwide reached 1.229 million in 2019, an increase of 18% over 2018, and the cumulative number of operations has reached 7.2 million. In 2019, 1,119 Da Vinci surgical robot systems were sold, up 21% from 2018. As of December 31, 2019, 5,582 Da Vinci systems have been installed worldwide.
2018 China data: 84 hospitals installed 102 Da Vinci surgical robot systems, a total of 120,000 surgical procedures. Da Vinci surgical robot system belongs to class B large-scale equipment, hospitals need to obtain provincial health and care commission configuration permit. According to the "Notice on the Planning of Large-scale Medical Equipment for 2018-2020" issued by the National Health and Care Commission, 197 surgical robots will be planned for the national allocation by the end of 2020.

laparoscopic surgery robot
:
Cambridge Medical Robotics
: The new laparoscopic robot representative start-up, established in 2014, CE certified in March 2019, completed the first 30 surgical procedures in May of the same year, is currently in the FDA phase of the declaration. In September 2019, the C-round financing, with a capital amount of US$240 million, was the largest private placement of medical technology in Europe to date.
Hangzhou Art Robot Co., Ltd.
: Established in November 2016, headquartered in Hangzhou, China, has a 40,000-square-foot production and assembly plant in Vizag Andhra Pradesh, India, with special tariff incentives from the Government of India, and a 4,300-square-foot research and development center in San Jose, USA. At present, the clinical exploratory experiments of cadavers are being carried out in India, followed by the global multi-center clinical trials. The founder participated in the early clinical trials of Da Vinci's surgical robots as a heart surgeon, and used Da Vinci to operate more than 1,400 cases of exocardine surgery and trained more than 350 robotic teams, setting a global precedent for many extra-cardiac surgery. Since its establishment, the company has been a number of rounds of financing, the end of 2019, access to the National Pharmaceutical China Gold and Zhejiang Venture capital of the Billion B round of financing.

segment spartaunys represents the company's orthopaedic and neurosurgery robotics
:
MedtechROSA
: Founded in France in 2002, ROSA RoboticSa's Neurosurgery Navigation System was approved by the FDA in 2009 and the Spine Surgical Navigation System was approved by the FDA in 2016. Rosa Systems was purchased by more than 20 hospitals in Europe and the United States in 2016 and acquired a 59 percent stake in Zimmer Biomet, the global orthopaedic implant giant with sales of $7.09 billion in 2018, for $132 million in cash. The ROSA system, which will be available to the U.S. 510 (k) in March 2019 and can be used simultaneously on the brain, knees, and spine, is the world's only surgical robot navigation and positioning system that can be applied to all three locations simultaneously.
MazorRobotics
: Founded in Israel in 2000, it is used in spinal surgery and neurosurgery. Its first device was approved by the FDA in 2011 and by December 2019, 200 units had been sold worldwide, with more than 40,000 surgical operations. It was bought by Medtronix in 2019 for $1.64 billion in cash after it held an 11 per cent stake in the company.
MakoRio
: Founded in the United States in 2004, it is used in orthopaedics, including joints, hipbones, etc. It was acquired in 2013 by global orthopaedic giant Stryker for $1.68 billion. Mako has 642 global installations as of 2018, including 523 in the United States.
Beijing Tianzhihang Medical Technology Co., Ltd.
: "Tirobot Tianyi" in November 2016 to obtain the CFDA issued the third category of medical device registration certificate, the first industrial orthopaedic robot company in China. By the end of 2019, the company's products have been implemented a total of 5371 operations, covering more than 20 provinces /municipalities/autonomous regions, applied to 74 in the home three-tier hospital, orthopaedic hospital and other medical institutions.
Huazhi Micro-Invention Medical Technology (Beijing) Co., Ltd.
: its holding subsidiary Tianjin Huazhi Computer Applicationco Co., Ltd. was approved in 2008 "frameless stereoorientation instrument", by TianshiLi, Tongyi, Guoinvestment Co., Ltd., Lenovo Venture Investment.
Beijing BaiHui Weikang Technology Co., Ltd.
: April 2018 approved the "neurosurgery navigation and positioning system", by Yari Capital, Jinge, Price and other investments.
Huake Precision (Beijing) Medical Technology Co., Ltd.
: December 2018 approved the "Neurosurgery Navigation and Positioning System", derived from Tsinghua University and several Sanjia Hospital neurosurgery for more than 10 years of cooperative research and development projects. By Kaifeng, Huacheng and other investments.

Segment strucital subdivision s part of the company - Bronchostothescopy Robotics
:
Auris Monarch: Established in 2007, approved by the FDA in March 2018, and in February 2019 Johnson and Johnson's wholly owned subsidiary announced the acquisition of Auris for $3.4 billion in cash, with an additional $2.35 billion to be paid at a certain milestone. Meanwhile, Auris founder Fred Moll will take over as head of the Ethicon Surgical Robotics section. Auris also owns the Mallegan Peripheral Vascular Robot, developed by Hansen Medical.
IntuitiveSurgicalLon
: Intuition Surgery's $15 million strategic investment in 2018, the two companies officially become strategic partners, intuitive surgery has been granted the worldwide exclusive use of Broncus full lung navigation technology for the development of its lung disease diagnosis robot robot. Broncus is a company focused on the development and production of lung disease diagnosis and treatment technology, the main research and marketing based on the augmented reality of all-lung navigation technology platform of lung cancer, slow-blocking lung and other lung disease precision minimally invasive interventional treatment products, global model.