David McNally, CEO of Titan Medical, gives insight on the company’s robotic surgical system.
Multiple market research reports project that the robotic surgery market will exceed 20 billion dollars globally in the year 2021. We believe that Titan Medical has an opportunity to capture a significant portion of that market opportunity. Titan Medical is the designer and developer of a versatile, advanced robotic surgical system that accesses the human body in particular the abdominal area through a single incision. Moving from multi-port systems that is accessing the human body through multiple incisions to a single incision what this means for a surgeon is improved dexterity with snake-like arms in the robot that have the ability to maneuver within the body with remarkable precision yet flexibility to access deep to reach accesses in the abdominal cavity of the body. The fact that we have replaceable end effectors, these are the graspers and the cutting devices and needle drivers that are used for suturing and tying knots, provides the opportunity for forward compatibility we are inspired by experienced robotic surgeons who tell us that our offering may be the next revolution and robotic surgery.
Titan Medical Inc. is a Canadian public company, headquartered in Toronto, Ontario, and listed on the Toronto Stock Exchange (TMD) and the OTCQX in the United States (TITXF).
Titan is focused on the design, development and commercialization of new robotic surgical technologies. The Company is advancing the development of a robust product portfolio with the objective to meet current needs in surgical procedures which would benefit all stakeholders, including patients, surgeons, and hospitals. The Company currently has under development the SPORT™ Surgical System. Robotic surgery has developed over the past several years into a proven and growing method of treatment. Titan is planning to first commercialize the SPORT Surgical System in Europe followed by the United States, the world’s two largest markets for robotic surgery.
Titan is developing the SPORT Surgical System to address the current clinical, operational and financial limitations of the robotic platforms in the high growth robotic surgery market. The current robotic technology is cost prohibitive for secondary and tertiary hospitals, as well as for ambulatory surgery centers, and is confined to a limited number of surgical procedures, such as hysterectomies and prostatectomies. Titan’s well-differentiated SPORT Surgical System will expand robotic surgery into areas that are currently undeserved, including general abdominal, gynecologic, urologic and colorectal procedures, in a cost-effective manner.
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