Quantum (QUAN) is set to change the global robotics industry by sharpening its focus on new initiatives in medicine – a flourishing business.
The global robotics industry was valued by BCC Research at an estimated $2.1 billion in 2011, and is expected to reach $3.6 billion by 2016.
In order to achieve its goal, the emerging robotics innovation company seeks targets developing the next generation of computer-generated surgical tools and robots for the global market.
QUAN notes robotic surgery delivers better precision, smaller incisions and decreased blood loss compared to traditional medical operations, which are much more taxing on a hospital’s human and financial resources.
The surgery also yields less pain, shorter healing time and articulation beyond normal manipulation.
Despite several benefits, however, only 1,752 robotic surgical systems have been installed globally as of 2010. QUAN recognizes a need in this area and is working toward more affordable ways to perform complex medical procedures.
According to BCC Research, the U.S. accounted for more than two-thirds of the global medical robot and computer-assisted surgery market in 2010, and will remain nearly steady through 2016.
Europe reportedly holds the second-largest market for Medical Robotics and Computer-Assisted Surgery (MRCAS) and captures a little less than one-quarter of the medical robotics market.
Quantum was in the news earlier this month for appointing Robert Federowicz as new CEO. Federowicz will help cultivate a new, ambitious business strategy as the company takes on the global robotics industry.
Edited by Braden Becker