Market Overview
Digital surgery is the convergence of surgical technology, real-time data, and intelligence, i.e., the next frontier of surgery.
According to the MarkNtel Advisors' research report, "Global Digital Surgery Technologies Market Analysis, 2021," the market is likely to grow at a CAGR of around 22% during (2021-26). The use of digital technology for surgery helps in reducing patients' recovery time and provides better access to deep & angles space within the body. It brings unprecedented changes to the traditional surgery method.
Digital technology-based surgeries offer more personalized surgical care. Thus, the Digital Surgery Technology Market will grow significantly in the forthcoming period. Most market players and health systems are putting massive amounts to accelerate the digitization of surgery, thereby dramatically enhancing patient outcomes while reducing cost and inefficiencies.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 22% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain, Others | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Others | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: Saudi Arabia, South Africa, Others | |
| Key Companies Profiled | 3Dintegrated ApS, Augmedics Ltd., Brainlab AG, Caresyntax Inc, Centerline Biomedical, DASH Analytics, EchoPixel Inc., FundamentalVR, Medtronic plc, Mimic Technologies, Inc., Novadaq Technologies Inc., Osso VR Inc., Surgical Science Sweden AB, VirtaMed AG |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The lockdown imposed by the government in the wake of the COVID-19 pandemic has negatively affected the Global Digital Surgery Technologies market due to the cancellation and postponement of surgeries, which had to happen during this time.
Further, sales of surgical tools were affected, resulting in massive disruption of supply chains due to the imposition of lockdown. Many industry leaders witnessed a decline in their revenues due to the reduced volume of elective digital surgeries.
Market Segmentation
Cardiovascular Accounted for the Largest Market Share
Based on the surgery area, the market segments into Neurological, Cardiovascular, Orthopedics, Urology, Gynecological, and Ophthalmological. Among these segments, Cardiovascular Disease acquired the largest share in the Global Digital Surgery Technologies Market in 2019. The demand for cardiovascular surgeries with the help of digitally assisted technologies offers high accuracy and precision. The use of digital technologies reduces the risk of harm to the interventionist. Thus, the segment contributes to the overall growth of the market, reveals MarkNtel Advisors in their research report, "Global Digital Surgery Technologies Market Analysis, 2021."
Hospital and Ambulatory Surgical Centers Dominates the Market
Within the End-User segment, the market bifurcated into Insurance Companies, Medical Device Vendors, Hospitals and Ambulatory Surgical Centers, and Education and Research Institutes. In 2019, Hospitals and Ambulatory Surgical Centers attained the highest share in the Global Digital Surgery Technologies Market due to the rising patient footfall in hospitals and higher adoption of surgeries based on digitally assisted technologies owing to significant trust associated with hospitals. Further, the surge in the number of digital surgeries in hospitals boosts the market growth globally.
Regional Landscape
North America held for the Largest Market Share
Geographically, North America dominated the largest share in the Global Digital Surgery Technologies Market in 2019. The dominance is due to the higher occurrence rate of chronic diseases among the people of North America. Additionally, the mounting adoption of advanced technologies and supportive reimbursement policies for digital surgical procedures propel the Digital Surgery Technologies market growth in the region.
Market Driver
Rising Prevalence of Chronic Diseases Boost the Market Growth
The surging prevalence of chronic diseases, including cardiovascular diseases, cancer, and orthopedic disorders, results in an increased number of patients undergoing surgical procedures globally. Further, the rising geriatric population bolsters the chance of chronic diseases, and the rapid adoption of a sedentary lifestyle by them are the primary factors driving the market growth.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Digital Surgery Technologies market are 3Dintegrated ApS, Augmedics Ltd., Brainlab AG, Caresyntax Inc, Centerline Biomedical, DASH Analytics, EchoPixel Inc., FundamentalVR, Medtronic plc, Mimic Technologies, Inc., Novadaq Technologies Inc., Osso VR Inc., Surgical Science Sweden AB, VirtaMed AG.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The market size/industry size or the market value is in terms of USD Million.
A. The Global Digital Surgery Technologies Market is forecast to grow at a CAGR of 22% during 2021-26.
A. 3Dintegrated ApS, Augmedics Ltd., Brainlab AG, Caresyntax Inc, Centerline Biomedical, DASH Analytics, EchoPixel Inc., FundamentalVR, Medtronic plc, Mimic Technologies, Inc., Novadaq Technologies Inc., Osso VR Inc., Surgical Science Sweden AB, VirtaMed AG are a few of the leading players in the Global Digital Surgery Technologies Market.
A. Cardiovascular Disease is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, presenting immense opportunities for market leaders of the Global Digital Surgery Technologies Market.
