Status : Published Published On : May, 2021 Report Code : VRHC1243 Industry : Healthcare Available Format : Page : 135

Global Digital Surgery Technologies Market – Analysis and Forecast (2021-2030)

Industry Insights by Technology (AI and Big Data, IoT and Robotics, Augmented Reality and Virtual Reality), by Product (Surgical Simulation, Surgical Navigation, Advanced Visualization Products, Surgical Data Science, Surgical Planning)

Industry Overview

The global digital surgery technologies market was at $312.5 million in 2020 & is expected to reach $5,110.5 million by 2030, increasing at a CAGR of 32.1% during the forecast period 2021-2030. The increasing complexities in the clinic, rising surgeon's workload, and huge R&D investments are the main factors expanding the market growth. Surgical practises are changing, and the digital surgical paradigm is bringing about unprecedented changes in this area. Continuous advancements in surgical instruments have enabled the use of technically superior procedures that reduce patient recovery times, increase access, and include 3D visualisation.

Digital Surgery Technologies Market Highlights

Market Segmentation

Based on Technology

•    AI and Big Data
•    IoT and Robotics
•    Augmented Reality and Virtual Reality

AI and Big Data are expected to lead the Digital Surgery Market. Over the forecast period, businesses will integrate AI systems designed for operating rooms in order to minimize risk and make surgery safer. To overcome these obstacles, AI is assisting surgical teams in addressing the challenging problems they face. Currently, more than 5 billion people around the world do not have access to safer surgical procedures.

Based on Product

•    Surgical Simulation
•    Surgical Navigation
•    Advanced Visualization Products
•    Surgical Data Science
•    Surgical Planning

Based on product, Surgical Data Science is expected to expand strongly over the forecast era, since it seeks to evaluate data in order to provide disease-related and specific assistance functions.

Based on Geographies

•    North America
•    Europe
•    Asia-Pacific (APAC)
•    Rest of World

In terms of geographies, North America holds the largest share of the digital surgery industry, owing to the involvement of major players in the region as well as increased government spending in the healthcare sector.

Trends

With increased expenditure constraints across global health systems and the introduction of value-based medicine in some markets, stakeholders in the public and private sectors see digital surgery as the next apex of surgery. Hospitals are replacing outdated surgical spaces with modern operating suites in order to help support outpatient surgery and minimally invasive procedures. Robotic surgical systems and imaging technology, such as surgical navigation systems, are expected to become more popular in the coming years. The Digital Surgery Market will be driven by the rising prevalence of chronic diseases among the population in the coming years.

Market Drivers

The Digital Surgery Market is currently experiencing a significant change in global demand for digital surgery technology. Investment in healthcare facilities is increasing, and new technologies for treatment and diagnostic assistance are becoming more widely used. Over time, this will provide opportunities for the market for digital surgery to rise. Furthermore, emerging players are developing AI-powered medical devices for surgical applications, and global tech giants such as Microsoft and Google are entering the healthcare field. Both of these main actors have contributed to a significant rise in sales for digital surgery technology.

Opportunity

The digital surgery market offers good growth opportunities for remote care and telepresence. Secondly, the consolidation of large healthcare players and establishing synergies between them is estimated to benefit the global market in the forecast period.

Investment in healthcare facilities is increasing, and new technologies for treatment and diagnostic assistance are becoming more widely used. Over time, this will provide opportunities for the market for digital surgery to rise.

Challenges

The main challenges faced by this market mainly consist of the huge cost of surgical equipment which actually leads to limitations in the procurement of the instruments. Apart from this, there are also risks that are associated with digital surgeries which include a lack of willingness of patients to be operated upon using this new technology. Other challenges include less budgetary allocation to this sector, additional training requirements, etc.

COVID-19 Impact on the Digital Surgery Market

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 people conducting surgery each year around the world, it's critical to take extra precautions to safeguard the surgical team and the patient. Minimally invasive procedures are difficult to conduct and pose a higher risk to the surgical team during COVID-19, so the use of digital surgery will increase during the pandemic.

Key Players

•    TransEnterix, Inc.
•    Medtech SA 
•    Smith & Nephew 
•    Renishaw PLC 
•    Mazor Robotics 
•    Hansen Medical
•    Merck Co. & Inc 
•    Verb Surgical Inc.
•    Medrobotics Corporation
•    Intuitive Surgical, Inc. 
•    Stryker Corporation 

Recent News

•    In Dec 2020, a robot surgeon had separated a tumour that weighed 5kg from a woman's ovaries in the UAE. The complex surgery, organized at Al Qassimi Hospital for Women and Children in Sharjah, exploited the Da Vinci Robotic surgical system that achieves minimally invasive surgery with the advanced set of instruments and 3D high-definition understanding of the surgical area.

•    In Aug 2020 Harvard and Sony, produced surgical robots by making a new, origami-inspired miniature manipulator mainly for precision and proper and careful handling. The robotic systems used by surgeons in laparoscopic surgery can take up an entire room, their tools are bigger than the fragile tissues and the structures on which they operate.

•    In Nov 2020, Virtual Incision, launched the miniaturized in vivo robotic assistant (MIRA) platform to perform minimally invasive abdominal surgeries, such as colon resections. MIRA is small enough to be transported and it requires fewer incisions as compared to bigger and multifaceted surgical robots.

Digital Surgery Technologies Market Size

Source: VynZ Research

Digital Surgery Technologies Market Analyis

Source: VynZ Research

Frequently Asked Questions

The global digital surgery technologies market is predicted to grow to $5,110.5 million by 2030.
The global digital surgery technologies market is registering a CAGR of 32.1% during the forecast period 2020–2030.
Based on product, Surgical Data Science is expected to expand strongly over the forecast era.
The increasing complexities in the clinic, rising surgeon's workload, and huge R&D investments are the main factors expanding the global digital surgery technologies market growth.
Around the globe, North America holds the largest share of the digital surgery industry.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Digital Surgery Technologies Market