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 period 2020-2030. 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.
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.
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 Hospitals are replacing outdated surgical spaces with modern operating suites in order to help support outpatient surgery and minimally invasive procedures.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.
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.
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.
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.
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.
Some of the major Market Key Players are:
• 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
Global Digital Surgery Market Coverage
Technology Insight and Forecast 2015-2030
Product Insight and Forecast 2015-2030
Global Digital Surgery Market by Region
Rest of the World (RoW)