Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Digital Surgery is next frontier of surgery, as surgical technology which allows the access to powerful analytical to improve the surgeries as well as surgical training The digital surgery is majorly based on different hardware and software based on technology used for performing surgeries on different disease associated patients. Different products are widely used for digital surgeries specifically to reduce human error and conduct safe successful surgeries. The market is further expected to experience ample of opportunity due to rapid adoption of technologically advanced products, enhanced accuracy, and promising recovery from pre-operative surgical planning. The growing development of market across the globe is expected to drive the market growth.
The major factor driving the digital surgery market are enhanced accuracy, promising recovery from pre-operative surgical planning. The market provide opportunity for surgeon to precisely manage and conduct the surgeries with different digital surgery products. The market helps significantly helps to conduct the procedure with improved outcomes and patient safety reducing the risk associated to surgery. Also, results based on quantifiable data is majorly driving the market growth. Likewise, increasing interest of technologist and start-ups across the globe for manufacturing and new digital surgery product in market is propelling the market growth. The market is expected to witness the growth at highest pace during the forecast period.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the digital surgery market. In addition, complete analysis of changes on the digital surgery market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The digital surgery market comprises of different market segment like component, product, technology, end user, disease indication and geography.
By component, the digital surgery includes key segment of hardware, software, services. Hardware is likely to dominate the market due to increasing demand for hardware to integrate with software for digital surgeries is expected to boost the market demand. Also, growing number of manufacturer and demand for hardware is majorly to cost, availability of different hardware component which is anticipated to accelerate the market growth. In addition, software has increasingly demand in the digital surgeries for developing new software platform based on different technology is expected to drive the market growth.
The digital surgery market is significantly studied for key products like surgical simulation, surgical navigation, advanced visualization products, surgical data science, surgical planning. Surgical simulation is expected to witness increasing demand in the market attributing to increasing modern surgical training for professional doctor and students to set their skilled before performing on the actual patient. It helps to reduce human error, set skill and helps in improving the procedures before performing in operating rooms. Additionally, surgical navigation product type is anticipated to witness increasing demand during the estimated period significantly due to providing accuracy and accurately navigate instrument while performing digital surgeries.
The digital surgery by technology is available in market including AI and Big Data, IoT and robotics, augmented reality and virtual reality. AI and Big Data has register major market share in the digital surgery market owing to analyzing data, providing high accuracy for surgeries with data management which specifically helps for reducing the error in digital surgeries. Also, IoT and robotics, augmented reality and virtual reality are contributing healthy growth in the market.
The digital surgery market finds its end use in insurance companies, medical device vendors, hospitals and ambulatory surgical centers, education and research institutes. Hospitals and ambulatory surgical centers is anticipated to lead in the digital surgery market attributing to increasing surgeries in hospital for different diseases. Besides, growing adoption for different digital surgery products like surgical navigation, robotics in hospital is the key factor driving the growth of segment thereby propelling the market growth during the forecast period. Furthermore, education and research institutes are increasingly having demand for digital surgery products precisely for new trainees, education which is fuelling the market growth.
The digital surgery market according to disease indication includes segment of neurological, cardiovascular, orthopedics, urology, gynaecological, ophthalmological and others. Cardiovascular is expected to dominate the global digital surgery market during the forecast period. The growth of the segment is due to increasing number of cardiovascular patient across the globe majorly due to heart disorders, rising population getting coronary artery disease had led emerging demand for the market. For instance according WHO, it was estimated that 17.9 million people died from CVD in 2019 representing 32% of the global deaths where 85% were due to stroke and heart attack. Thereby market is anticipated to witness increasing demand for cardiovascular disease indication. Also, neurological, orthopedics are likely to get increasing demand for global digital surgery market
The global digital surgery market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is anticipated to gain major market in global digital surgery market owing to increasing ongoing development for new innovative digital products for surgeries in the regions. Besides, rising adoption for the digital surgeries in hospitals and ambulatory surgical centers, education and research institutes is accelerating the market growth to huge extend. Furthermore, increasing burden of disease, rising geriatric population is likely to contribute healthy growth in the market. Likewise, Europe is expected to grow at significant pace due to developing healthcare facilites and rising adoption for new digital surgery products across the region.
The key players in digital surgery are Augmedics Ltd., Brainlab AG, Caresyntax Inc , Centerline Biomedical, EchoPixel Inc.,Eschmann Equipment, FundamentalVR , GE Healthcare, Getinge AB, HoloSurgical Inc., OsteoMed, ClaroNav, Medivis, SentiAR , Smith and Nephew, IntegriTech, Johnson and Johnson, Koninklijke Philips N.V., Medtronic plc, Mimic Technologies, Inc. , Mindray ,CMR Surgical , Olympus Corporation, Zimmer Biomet, Stryker Corporation, Surgical Science Sweden AB ,True Digital Surgery , VirtaMed AG and Varian Health Systems among others.
March 2021: Royal Philips and Orbita Inc., an innovative provider of conversational artificial intelligence (AI) solutions for healthcare announced a partnership agreement to co-create next-generation conversational virtual assistants for Philips’ consumer health and patient support applications.
February 2020: Medtronic plc, the global leader in medical technology acquired the Digital Surgery which is a privately-held pioneer in surgical artificial intelligence (AI), data and analytics, and digital education and training. The acquisition of Digital Surgery will strengthen the Medtronic robotic assisted surgery platform and has applicability for the Medtronic broader portfolio.
December 2019: GE Healthcare announced that its in and collaborations with Formlabs, CMR Surgical Ltd. and Decisico Health, companies specializing in 3D printing, surgical robotics and virtual care monitoring respectively.
March 2019: Smith & Nephew had announced the product launches and investment that establish the multi asset digital surgery and robotic ecosystem. Adding to that NAVIO Surgical System is currently in development, NAVIO 7.0 is the next version of company’s handheld robotic surgical system. NAVIO 7.0 is being designed to improve the surgeon experience through intuitive interface expanded surgical preference and streamlined workflow which may help to reduce surgery time over the previous version.
The report analyses the digital surgery market based on by component, product, technology, end user, disease indication and geography. By component, the digital surgery includes key segment of hardware, software, services. Hardware is likely to dominate the market due to increasing demand for hardware to integrate with software for digital surgeries is expected to boost the market demand. The market is significantly studied for key products like surgical simulation, surgical navigation, advanced visualization products, surgical data science, surgical planning. Surgical simulation is expected to witness increasing demand in the market attributing to increasing modern surgical training for professional doctor and students. The digital surgery by technology is available in market including AI and Big Data, IoT and robotics, augmented reality and virtual reality. AI and Big Data has register major market share in the digital surgery market. The market finds its end use in insurance companies, medical device vendors, hospitals and ambulatory surgical centers, education and research institutes. Hospitals and ambulatory surgical centers is anticipated to lead in the digital surgery market. The digital surgery market according to disease indication includes segment of neurological, cardiovascular, orthopedics, urology, gynaecological, ophthalmological and others. Cardiovascular is expected to dominate the global digital surgery market during the forecast period. The global digital surgery market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
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