Market Challenges: High costs associated with medical robotic systems

The high costs associated with medical robotic systems can hamper the global medical robotic systems market growth. Robotic surgical systems are quite expensive due to the high-end computer systems, miniaturized surgical tools, motion sensors and other precision technologies incorporated in these robots. Regular maintenance and upgrade of these sophisticated machines also involves recurring costs over the lifespan. Due to substantial capital requirement, not every hospital, especially those in developing nations, can afford to invest in such expensive equipment. Training and education of operating room staff, surgeons and other clinical personnel in the functions, set-up and operation of these robotic systems adds to the overall costs. Extensive practice is required on simulator platforms before performing on actual patients. The time and monetary resources invested are not recoverable in the short term. This discourages many healthcare facilities from installing robotic platforms despite the proven medical benefits, thus, hampering the market growth. Lack of definite financial benefits recognized from robot-assisted procedures has slowed adoption rates in cost-sensitive markets.

Market Opportunities: Applications of medical robotics in non-invasive surgeries

Medical robotics has immense potential in revolutionizing the field of minimally invasive surgeries. As robotics and computer technologies become more sophisticated, medical robots are increasingly being used in complex non-invasive surgical procedures with great accuracy and consistency. Robotic surgical systems have enabled doctors to perform several complex surgical procedures like organ transplants, colon cancer surgeries and repairs of brain aneurysms through small incisions instead of conventional open surgery. This significantly reduces recovery time for patients, preserves tissue integrity and minimizes surgical trauma and blood loss compared to traditional open surgeries. For example, robotic systems for colon cancer surgery have led to comparatively shorter hospital stays and fewer complications for patients, according to research studies published by leading hospitals.