Due to market competition, technological advancements and economies of scale have increased.
The price of orthopedic robotics systems is expected to fall 30% over the next five years, according to GlobalData.
The decline is attributed to increased market competition, technological advances and economies of scale.
“Companies like Think and South Korea’s Curexo have developed robotic systems that are compatible with implants from other manufacturers, which can further reduce the cost of robotic program by choosing affordable knee or hip implants,” said MSC, lead medical device analyst at GlobalData.
Currently, these systems cost from $554,000 to over $1 million, with annual service costs accounting for about 10% of the system’s price.
Meanwhile, bulk adoption is expected to reduce manufacturing costs, while subscription-based pricing models can replace prepaid fees.
Furthermore, simplified workflows and value-based care models are improving the economic viability of these systems.
