Published Year: 2020
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Market Overview
Overview on the Global Digital Surgery Technologies Market
The global digital surgery technologies market is currently witnessing a significant change in the market landscape. There is rising investment in development of healthcare infrastructure, increasing evidences for efficient and promising results in treatment and diagnosis assistance. Thus, this is leading to potential growth opportunities for the digital surgery technologies market. Moreover, there is an extensive entry of emerging players developing AI-powered medical devices for surgical purposes, and many of the global tech giants, such as Microsoft and Google, are entering into the healthcare space. All these predominant factors have led to a significant rise in sales of digital surgery technologies across the globe.
Global Digital Surgery Technologies Market Forecast
Source: Secondary Research, Expert Views, and BIS Research Analysis
The global digital surgery technologies market was valued at $252.5 million in 2019 and is anticipated to reach $5,110.5 million by 2030, growing at a CAGR of 32.1% during the forecast period 2020-2030. The increasing complexities in clinical decision making, rising surgeon’s workload, and huge R&D investments are the major factors fueling the market growth. In addition to these factors, there are significant challenges and restraints, which are restricting market growth. These challenges include the surgeons’ reluctance toward the adoption of advanced technologies, such as AI and the privacy and security concerns related to healthcare data. Hence, it is anticipated that these trends will have a significant impact on the digital surgery technologies market in the next five years, and the market will grow multifold.
Competitive Landscape
The global digital surgery technologies market consists of numerous large-scale as well as small-scale manufacturers and vendors. Presently, with the increasing adoption of AI in healthcare, the manufacturers in the market have an ample number of opportunities to expand their offerings and to establish a strong foothold in the market.
In the past years (December 2015-August 2020), the digital surgery technologies market witnessed approximately 47 partnerships, alliances and business expansions, 43 new offerings, 15 regulatory and legal approvals, 33 funding activities, 13 mergers and acquisitions, and 11 procurement and sales.
Most of the manufacturers in the market are incorporating collaborations and partnerships with not only other companies but the hospitals, medical schools, ambulatory surgical centers, and surgeons as the key strategies to develop novel digital surgery products and attain a strong financial position in the market.
The key players contributing to the global digital surgery technologies market are Osso VR, Augmedics Ltd., Brainlab AG, Medtronic plc, Caresyntax, Inc., 3Dintegrated ApS, DASH Analytics, Novadaq Technologies, Inc., Fundamental VR, EchoPixel, Inc., Surgical Science Sweden AB, 3D Systems Inc., VirtaMed AG, Mimic Technologies, and Centerline Biomedical, among others.
Global Digital Surgery Technologies Market
Focus on Product Type, Technology, 12 Countries' Data, and Competitive Landscape - Analysis and Forecast, 2020-2030
Some Faq's
Frequently Asked Questions
Answer: The digital surgery technologies market is projected to grow at a CAGR 32.10% during the forecast period from 2020-2030.
The digital surgery technologies market was estimated at $252.5 Million in 2019 and is projected to grow at a CAGR of 32.10% during the forecast period from 2020-2030.
Answer: The pertinent factors that are driving the growth of the market include enhanced accuracy, promising recovery from pre-operative surgical planning, results based on quantifiable data, and increasing interest of technologist and start-ups.
The factors driving the growth of the market include enhanced accuracy and promising recovery from pre-operative surgical planning, results based on quantifiable data, and increasing interest of technologists and start-ups.
Answer: The technological advancements include use of AI algorithms, augmented and virtual reality, mixed reality and other technologies.
The trends influencing the growth of the market include neutral vendor platforms, experimental phase with mixed technologies (both on software and hardware), and virtual access and enhanced patient outcomes through cloud technology likely to be the future trend, among others.
Answer: The different product types included in digital surgery technologies include surgical simulation systems, surgical data science, surgical navigation and advanced visualization, and surgical planning.
Surgical simulation systems, surgical data science, surgical navigation and advanced visualization, and surgical planning are the products covered under the digital surgery market.
Answer: The top market players operating in the market include, Osso VR, Augmedics Ltd., Brainlab AG, Medtronic plc, Caresyntax, Inc., 3Dintegrated ApS, DASH Analytics, Novadaq Technologies, Inc., Fundamental VR, EchoPixel, Inc., Surgical Science Sweden AB., VirtaMed AG, Mimic Technologies, and Centerline Biomedical.
The companies operating in the market include Osso VR, Augmedics Ltd., Brainlab AG, Medtronic plc, Caresyntax, Inc., 3Dintegrated ApS, DASH Analytics, Novadaq Technologies, Inc., Fundamental VR, EchoPixel, Inc., Surgical Science Sweden AB., VirtaMed AG, Mimic Technologies, and Centerline Biomedical
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