Medical Robots Market Size, Share, Growth Analysis, By Product & Services(Instrument & Accessories, Robotic Systems), By Applications(Laparoscopy, Orthopaedic Surgery), By End Use(On-premise solutions, Cloud-based solutions), By End user(Hospitals, Ambulatory Surgery Centres) - Industry Forecast 2024-2031

Medical Robots Market Drivers

• Benefits of robotic-assisted surgery and robotic-assisted rehabilitation therapy. The demand for minimally invasive surgeries (MIS) is increasing globally, owing to the benefits associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, shorter recovery periods, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by ensuring greater accuracy and repeatability, as well as greater control and efficiency. According to a 2018 article on a gynaecological study of laparoscopy hysterectomy, the straight-stick laparoscopy to open surgery conversion rate was 25%. Procedures using a robotic platform, on the other hand, had a conversion rate of less than 5%, resulting in less morbidity and blood loss.

Medical Robots Market Restraint

• Robot-assisted surgeries are significantly more expensive than minimally invasive procedures. Robotic hysterectomy is only recommended by the American Congress of Obstetricians and Gynaecologists for unusual and complex clinical conditions. According to the association, implementing robotic surgery for all hysterectomies would add an estimated USD 960 million to the annual cost of hysterectomy surgeries in the United States. The da Vinci system, one of the most commonly used robotic systems, costs between USD 1.5 million and USD 2.5 million per unit, whereas the CyberKnife radiosurgery robotic system costs between USD 4 and 7 million per unit. A Lokomat rehabilitation robot costs around USD 380,000 on average. Furthermore, the annual maintenance cost of a robot is close to USD 125,000, adding to the already exorbitant cost of robotic surgery. In August 2018, a research letter published in the Journal of the American Medical Association (JAMA) estimated the cost of each robotic surgical procedure to be USD 3,568. As a result of the rising cost of surgeries due to the use of robotic systems, the medical robots market is expected to slow.