(PharmaNewsWire.Com, February 10, 2021 ) According to the new market research report "Medical Robots Transforming Healthcare: Pricing & Cost-Benefit Assessment (Price Variation (by Product (Surgical Robots, Rehabilitation Robotics, Stereotactic Radiosurgery), by Application, by Geography), Reimbursement, Selection Criteria, Buying Cycle" published by MarketsandMarkets™.
Medical robots are devices that are used to improve the quality of care for patients. The major types of medical robots are surgical robots, hospital and pharmacy robots, rehabilitation robots, and non-invasive radiosurgery robots. Each type of robots vary widely in prices, offer varied benefits & cost-saving advantages, and are subject to different reimbursement structures, buying cycle, price wars, and other factors.
The price variation is largely dependent on technology and application of the robot. Varied applications of surgical robots include laparoscopy, orthopedic, cardiology, and gynecology, among other. The non-invasive radiosurgery systems are used in oncology/radiology. On the other hand hospital & pharmacy robots cater to administrative tasks of the hospitals & pharmacies. As the name suggest, rehabilitation robots are used in rehabilitation of patients with disabilities due to strokes, accidents, paralysis, and other such conditions. Thus, different applications require different technologies in the final products resulting price variation across products. Moreover, the pioneers in particular type of robotic technology secure Intellectual property (IP) rights that further creates price variations in robots for similar applications.
The other factors that influence the robot prices include discounts offered, supply chain mark-ups, reimbursements, and price war. The study elaborates on each of these factors and their association with price variation of different robot types.
The research findings cited in the report encapsulates the buying cycle and the key decision makers for purchase of a robot. Selection criteria considered by end-user for embracing medical robots is also included in the scope of the study. Additionally, the marketing & promotional strategies focused by the vendors and financing options offered throws light on activities focused by vendors to increase customer access to the highly sophisticated technology. Marketing and promotion was the dominant strategy adopted by players in the medical robotics market during 2012 to 2015. This strategy was employed by players to increase the awareness of their products and educate potential clientele on the use and benefits of their products.
Furthermore, a separate section on cost-benefit assessment covering cost benefit studies and industry opinion is a value-add for the report. The section provides a guideline to the stakeholders in understanding the investment structure and the cost-savings achieved through the use of each type of robot.
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