SURGICAL ROBOTS MARKET ANALYSIS

Surgical Robots Market, By Product Type (Instruments & Accessories and Robotic Systems (Da Vinci Surgical System, Rosa, Mako Rio, Robodoc, and Others)), By Surgery (Gynecology Surgery, General Surgery, Urology Surgery, Cardiovascular Surgery, Neurosurgery Surgery, Orthopedic Surgery, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024
Code : CMI496
Pages :172
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – The High Cost of Robot-Assisted Surgery Limits its Adoption

The high cost of robot-assisted surgery limits its adoption, as robotic systems are much more expensive than traditional equipment. Robotic surgical systems are expensive to purchase with the price of a single robotic system ranging from US$ 1 million to US$ 2.5 million. Additionally, there are substantial costs involved with maintaining these robotic systems during the lifespan with annual service and maintenance contracts. The high capital expenditure required to purchase and maintain these robotic surgical devices is a major restraint for many hospitals and healthcare facilities, especially those in developing regions with budgetary constraints.

Market Opportunities – Increasing Investments by Key Market Players for the Development of Surgical Robots

Increasing adoption of inorganic growth strategies such as investments by key market players for the development of surgical robot offers lucrative opportunities in the global surgical robots market. For instance, in September 2023, CMR Surgical, UK-based surgical robotics company, announced that they had raised over US$ 165 mn in funding to continue the development of its Versius surgical robot. This latest investment brings their total raised to over $ 1 bn.