The global precision surgery market size was USD 5.21 Billion in 2021 and is expected to register a revenue CAGR of 14.1% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of technologies, such as Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML), among others, is a major factor driving market revenue growth. In addition, market companies and researchers are developing smart instruments that incorporate a variety of sensors and simplify the operation process. In addition, increasing demand for innovative products that aid in wound closure is another factor driving revenue growth of the market.
Moreover, increasing penetration of robots in the medical industry and increasing sports injuries and road accidents around the world are also driving market revenue growth. Healthcare professionals are realizing various benefits of robotic surgery, for instance, Da Vinci system is the most widely used robotic system, which consists of a surgeon’s console, patient cart, and vision cart.
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As well as new entrants in the Precision Surgery Device market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies in the global market report include Siemens Healthcare GmbH, Zimmer Biomet, B. Braun SE, Medtronic, Stryker, Alcon, Aspen Surgical, Johnson & Johnson, Baxter, and Boston Scientific.
One of the report’s central components is the broad Precision Surgery Device market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
The cardiovascular segment accounted for a significant revenue share in 2021. Increasing importance of big data in the medical industry is a key factor driving market revenue growth in this segment. In addition, ease of access to high-throughput next-generation genomic, metabolomic, transcriptomic, and proteomic arrays, as well as widespread adoption of electronic health record, are driving market revenue growth in this segment.
The North America market accounted for largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth in this region. In addition, presence of key market companies, such as Johnson & Johnson, Abbott, and others, are contributing to market revenue growth.
These companies are significantly investing in research & development activities, expanding their product portfolio, and getting into mergers and acquisitions to improve product services and improve patient care. For instance, on 2 September 2021, Abbott, which is a leading medical device manufacturer, announced to acquire Walk Vascular LLC.
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The global Precision Surgery Device market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Precision Surgery Device sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global precision surgery device market based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Handheld Surgical Devices
Application Outlook (Revenue, USD Billion; 2019-2030)
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Regional Bifurcation of the Precision Surgery Device Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Radical Features of the Precision Surgery Device Market Report:
The report encompasses Precision Surgery Device market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
Supply chain analysis along with technological advancements offered in the report
The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Precision Surgery Device industry
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