PROCEPT BioRobotics
- Industry
- Surgical Robotics
- Founded Year
- 2009
- Headquarters
- Redwood Shores, California, USA
- Employee Count
- 828
Key People
- Larry L. Wood - President & CEO
- Matt Bacso - VP, Investor Relations and Business Operations
- Kevin Waters - CFO
- Sham Shiblaq - SVP Global Commercialization
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful backgrounds in the MedTech industry.
The presence of multiple successful MedTech entrepreneurs in the leadership team enhances the company's strategic direction and operational execution.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's focus on treating benign prostatic hyperplasia (BPH) addresses a significant and growing clinical need.
BPH affects approximately 40 million men in the United States, indicating a strong demand for effective treatments.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for BPH treatments includes several established players, making it moderately competitive.
While the market is not saturated, existing treatments and competitors necessitate strategic differentiation.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing and commercializing surgical robotic systems involves moderate technical challenges.
The integration of robotics and medical devices requires careful engineering and regulatory compliance.
- Patent
-
Aspect: Strong
Summary: The company holds strong patents protecting its proprietary technologies.
Strong patents safeguard the company's innovations, preventing unauthorized replication.
- Financing
-
Aspect: Well-funded
Summary: The company has secured substantial funding from reputable investors.
Total funding of $349M from investors like Novo Holdings and Fidelity indicates strong financial backing.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company's products have obtained necessary regulatory approvals.
Achieving 510(k) clearance or PMA approval demonstrates compliance with regulatory standards.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 4.6
- Segment CAGR
- 5.9%
- Market Segment
- Nephrology and Urology Devices
- Market Sub Segment
- BPH Treatment Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.69 |
| 3 | 1.61 |
| 4 | 3.22 |
| 5 | 4.60 |
Key Takeaway
PROCEPT BioRobotics, with its innovative AQUABEAM Robotic System, is well-positioned to address the significant clinical need in BPH treatment, supported by strong leadership and substantial funding.