Digital Surgery Technologies Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Digital Surgery Technologies Market by region.
The global digital surgery technologies market was US$ 312.2 million in 2020. The global digital surgery technologies market is forecast to reach US$ 5,112 million by 2030 by growing at a Compound Annual Growth Rate (CAGR) of 32% during the forecast period from 2021-2030.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Digital Surgery Technologies Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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Factors Influencing
The growing healthcare expenditure is the prominent factor driving the market growth. Hospitals are replacing antiquated surgical facilities with new operating suites. In the coming years, robotic surgical systems and imaging technology, such as surgical navigation systems, are projected to gain huge demand. Moreover, as Microsoft and Google are making advancements in the healthcare sector, the global digital surgery technology market would grow at a rapid pace.
The growing pervasiveness of chronic diseases would create promising opportunities for the market players thriving in the digital surgery technologies market.
The risk and high cost associated with digital surgical technologies may decline the market growth during the analysis period.
Enhanced accuracy of digital surgical technologies may become another reason for the growth of the global digital surgery technologies market during the forecast period. In the UAE, a robot surgeon successfully removed a 5kg tumor from a woman’s ovaries. Thus, such successful results would propel market growth.
The advancements in Artificial Intelligence would create ample opportunities for the market players to generate high revenue during the analysis period. In 2020, Virtual Incision introduced the miniaturized in vivo robotic assistant (MIRA) platform. The device can efficiently perform minimally invasive abdominal surgeries, including colon resections. Thus, such advancements would contribute to market growth.
COVID-19 Impact Analysis
The digital surgery technologies market witnessed a slight decline during the initial phase of the pandemic. However, the market is forecast to witness rising investments in digital surgery and robotics to benefit patients. It has become vital to perform extra steps to protect both the surgical team and the patient. The growth of the minimally invasive treatments during COVID-19 surged the demand for digital surgery technologies. As a result, the COVID-19 pandemic had a positive influence on the global digital surgery technologies market.
Geographical Analysis
Regionally, North America dominates the global digital surgery technologies industry and is expected to contribute with the same share. The growth of the region in the global digital surgery technologies market is attributed to the increasing pervasiveness of diseases. Apart from that, the growing population and demand for better healthcare facilities are driving the growth of the global digital surgery technologies market.
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Competitors in the Market
TransEnterix, Inc.
Medtech SA
Smith & Nephew
Renishaw PLC
Mazor Robotics
Hansen Medical
Merck Co. & Inc
Verb Surgical Inc.
Medrobotics Corporation
Intuitive Surgical, Inc.
Stryker Corporation
Other prominent players
Market Segmentation
Based on Technology
AI and Big Data
IoT and Robotics
Augmented Reality and Virtual Reality
Based on Product
Surgical Simulation
Surgical Navigation
Advanced Visualization Products
Surgical Data Science
Surgical Planning
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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