Global Digital Surgery Technologies Market: Focus on Product Type, Technology, 12 Countries' Data, and Competitive Landscape - Analysis and Forecast, 2020-2030
Global Digital Surgery Technologies Market to Reach $5.11 Billion by 2030
Market Report Coverage - Digital Surgery Technologies
- Product Type – Surgical Simulation, Surgical Navigation, Advanced Visualization Products, Surgical Data Science, and Surgical Planning
- Technology Type- AI algorithms, Augmented Reality (AR)/ Virtual Reality (VR), Mixed Reality (MR), and Other Technologies
- North America- U.S. and Canada
- Europe- Germany, U.K, Italy, Spain, France, and Rest-of-Europe
- Asia-Pacific- Japan, China, South Korea, Australia, India and Rest-of-Asia-Pacific
- Enhanced Accuracy, Promising Recovery from Pre-operative Surgical Planning
- Results Based on Quantifiable Data
- Increasing Interest of Technologist and Start-Ups
- Minimal Healthcare Budget Allocation for Digital Surgery Technologies
- Impact of the Backlog in Elective Surgery Posing as a Major Challenge
- Requirement of Additional Surgical Training
- Requirement of Transparent Regulatory Guidelines, and Reimbursement Policies for AI/ML based medical device/Algorithm
- Promising growth opportunities for remote care, and telepresence
Key Companies Profiled
- 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
Key Questions Answered in this Report:
- What are the various products related to digital surgery technologies available in the market?
- What is the current market size and future potential of these technologies?
- What are the major market drivers, challenges, and opportunities in the global digital surgery technologies market?
- How is COVID-19 pandemic pushing companies into developing advanced technologies utilized for digital surgeries?
- What are the key technological developments on which the current industry leaders are spending a major share of their research and development (R&D) investments?
- Who are the leading players holding dominating shares in the global digital surgery technologies market currently?
- What are the key strategies incorporated by the players of the global digital surgery technologies market to sustain the competition and retain their supremacy?
- How are various regulatory authorities acting toward strengthening and supporting various digital surgery technologies for various applications?
- How is the trend of consumer behavior changing in adopting these digital technologies for surgeries?
- What are the various digital surgery products and solutions currently under development or in the pipeline, and how is it going to affect the growth of the market during the forecast period?
- How does the use of digital surgery technologies impact overall hospital expenditure?
- What is the current revenue contribution of different application types, and how would it evolve in the forecast period?
- What is the current revenue contribution of different product types, and how would it evolve in the forecast period?
- What is the current revenue contribution of different technology types, and how would it evolve in the forecast period?
- Which countries contribute to the major share of current demand and which countries hold significant scope for expansion for business activities, by players of the global digital surgery technologies market?
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, 2020-2030
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.
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.
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