Global digital surgery market was valued at US$ 201.82 million in 2019 and is expected to reach US$ 4817.61 million by 2">

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Global Digital Surgery Market by Current Industry Status, Growth Opportunities, Top Key Players, and Forecast till 2028- A Report by Absolute Markets Insights

Published On 05 Jan 2021 01:50 PM


Global digital surgery market was valued at US$ 201.82 million in 2019 and is expected to reach US$ 4817.61 million by 2028, growing at a CAGR of 34.1% over the forecast period. The integration of real time data, intelligence and advanced technology in systems is known as digital surgery. The surgical procedures are undergoing transformation, the digital paradigm in surgery is bringing unprecedented changes in this field. Continuous advances in surgical instruments have permitted adoption of technically improved procedures minimizing patient healing times, improved access and 3D visualization. The power of connected data and Artificial Intelligence developments are starting to have a real effect on the way surgeries are conducted, eliminating uncertainties in the method and results of surgery. In order to significantly enhance patient outcomes and minimize costs and inefficiencies, businesses, investors, surgeons and health systems are rushing to speed up the digitization of surgery. The digitization is surgery is aiding in improving patient access, eliminating differences between populations, improve quality, and provide more personalized surgical treatment.

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With increased budget pressures across global health systems and the implementation of value-based medicine in some markets, digital surgery is seen as the next apex of surgery by stakeholders in the public and private sectors. In order to better promote outpatient surgery, minimally invasive procedures hospitals are replacing obsolete surgical spaces with new operating suites. It is forecasted that robotic surgical systems and imaging technology such as surgical navigation systems will become common in the coming years. Growing rates of chronic diseases among the population will drive the Digital Surgery Market over the years. The growing need for operational efficiency and the need for precision and innovation in technology have led to the implementation of automated and sophisticated technologies especially in the operating rooms. Modern hybrid operating rooms are now characterized by surgical robots, high-resolution screens, specialized operating tables and well-integrated network infrastructure.

The growing complexities in clinical decision-making, increasing workload of the surgeon, and enormous investments in R&D are the key factors driving the market for digital surgery. In addition to these factors, there are many challenges that could hinder the growth of the Digital Surgery Market. These obstacles include the unwillingness of surgeons to implement new technology, such as AI, and health data due to privacy and security issues. It is therefore expected that these developments will have a major effect on the demand for digital surgery technology over the years. The global demand for digital surgery technology is currently undergoing a big shift in the Digital Surgery Market. Investment in healthcare infrastructure growth is growing, and adoption of advanced technologies for treatment and diagnostic assistance is increasing. This provides growth opportunities for the demand of digital surgery over the period. In addition, AI-powered medical devices are being built for surgical purposes by emerging players, and many of the global tech giants such as Microsoft and Google are joining the healthcare sector. All these key players have contributed to a large increase in digital surgery technology revenues.

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There are various large-scale as well as small-scale manufacturers and distributors in the global Digital Surgery Market technologies. Currently, with the growing acceptance of AI in healthcare there are sufficient opportunities for manufacturers in the industry to broaden their offerings and to create a strong Digital Surgery Market foothold. Surgeons continue to have better options for obtaining outstanding digital surgery results with continuing developments in technology and techniques.

Digital surgery seeks to bring a new level of scientific precision and clarity to the field of surgery by offering resources that enhance the understanding and judgement of the surgeon and staff in order to improve patient’s performance and results. Digital surgery can make surgical treatment available to a greater number of patients worldwide by providing care more effectively. It will decrease the variability of results and will recognize the main factors responsible in order to achieve effectiveness during surgical procedures, optimizing best practices and mentoring surgeons on how to reliably provide quality care.

During the pandemic, the budgets of hospitals for capital equipment were strained but they will continue to invest in digital surgery and robotics because the innovations provide patients with value. In the COVID-19 the increasing use of surgical robotics will perform minimally invasive procedures on patients while providing greater protection to the surgical team as compared to manual minimally invasive surgery. With 313 million individuals performing surgery every year around the world, it is very important to take additional steps to protect the surgical team and the patient. It is complex to perform minimally invasive procedures and presents a higher risk to the surgical team during COVID-19, thus adoption of digital surgery will boost amidst the Covid-19 pandemic.The detailed research study provides qualitative and quantitative analysis of digital surgery market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

  • In the technology segment AI and data analytics will lead the Digital Surgery Market over the forecast period, in order to reduce risk and make surgery safer the companies are integrating AI systems designed for the operating rooms. Currently more than 5 billion people in the world don’t have access to safer surgical procedures, in order to address these challenges AI is aiding in solving the complex issues that surgical team faces.
  • North America accounts for the highest share for the digital surgery market, the presence of key players in this region and increasing government spending in healthcare sector is boosting the growth of this market.
  • The major players operating in the market include 3D Systems, Inc., 3dintegrated ApS, Augmedics, Brainlab, Caresyntax, Centerline Biomedical, Corindus, Inc., EchoPixel, Fundamental Surgery, Intuitive Surgical, Johnson & Johnson, Medical Device Business Services, Inc., Medtronic, Mimic Technologies, Inc, Osso VR, Stryker, Surgical Science, Touch Surgery, Verb Surgical Inc., VirtaMed AG, and Other Market Participants.

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Digital Surgery Market:

  • By Component
    • Hardware
    • Software
    • Services
  • By Type
    • Surgical Simulation Systems
    • Surgical Analytics
    • Surgical Visualization and  Assistance
    • Surgical Planning and Forecasting
    • Others
  • By Technology
    • AI and Big Data
    • IoT and Robotics
    • Augmented Reality and Virtual Reality
    • Others
  • By Organization Size
    • Small and Medium Enterprises
    • Large Enterprises
  • By Disease Indication
    • Neurological
    • Cardiovascular
    • Orthopedics
    • Urology
    • Gynaecological
    • Ophthalmological
    • Others
  • By End User
    • Insurance Companies
    • Medical Device Vendors
    • Hospitals and Ambulatory Surgical Centers
    • Education and Research Institutes
    • Others
  • By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights