Digital Surgery Technologies Market Report 2024 - Improved Precision and Promising Post-Operative Rehabilitation through Pre-Surgical Planning

DUBLIN, March 6, 2024 /PRNewswire/ -- The "Digital Surgery Technologies Market - A Global and Regional Analysis: Focus on Technology, Product, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.

The global digital surgery technologies market is projected to reach $12.99 Billion by 2033 from $783.2 million in 2023, growing at a CAGR of 32.43% during the forecast period 2023-2033. The key factors driving the growth of the global digital surgery technologies market include the increasing interest of technologists and start-ups in surgery-related innovation, improved precision offered by digital surgery techniques, and promising post-operative rehabilitation through pre-surgical planning.

The global digital surgery technologies market consists of products such as surgical navigation and advanced visualization, surgical simulation systems, surgical planning, and surgical data science, as well as technology that includes augmented reality and virtual reality, AI algorithms, mixed reality, and other technologies.

The digital surgery technologies market has made an impact in the following ways:

• Integration of Augmented Reality (AR) and Virtual Reality (VR) in Surgical Procedures: The integration of AR and VR in surgical procedures has the potential to enhance patient safety, improve surgical outcomes, and advance the field of medicine through innovation and education. However, challenges such as technological limitations, regulatory issues, and the need for further validation through clinical studies must be addressed to fully realize the benefits of these technologies in clinical practice.
• Increasing Investment and Funding for Digital Surgery Technologies: Digital surgery technologies, owing to their transformative potential to enhance precision, optimize workflows, and improve patient outcomes, are rapidly changing the landscape of healthcare. However, unlocking their full potential would require a significant influx of investment and funding. Investing in digital surgery technologies is not just about financial gains; it's an investment in the future of healthcare. By creating a supportive environment for innovation and attracting substantial funding, companies are unlocking the potential of these technologies to transform surgery, improve lives, and pave the way for a healthier future.

Market Segmentation:

• Based on application, the digital surgery technologies market has been led by augmented reality and virtual reality, which held a 48.40% share in 2022.
• Based on product, the digital surgery technologies market has been led by surgical navigation and advanced visualization, which held a 48.08% share in 2022.
• Japan dominated the Asia-Pacific digital surgery technologies market in 2022. The increasing business expansion by the players in the market is one of the growing factors in this region. For instance, in December 2023, Miyazaki University in Japan utilized EchoPixel's technology. The Japanese government recognizes the potential of digital surgery technologies and is actively promoting their development and manufacturing.

Demand - Drivers, Challenges, and Opportunities

Market Demand Drivers:

Increasing Interest of Technologists and Start-Ups: Recent advancements in technology, encompassing both software and hardware, have prompted active involvement from companies, investors, surgeons, and healthcare systems to expedite the digitization of surgical procedures. The goal is to enhance surgery outcomes across a spectrum of complexities and deliver personalized surgical care. As value-based care models gain traction in global health systems, both public and private entities have captured stakeholders' interest through heightened investment in digital surgery.

This increased funding is laying the groundwork for revolutionizing surgical practices, promising heightened efficiency and precision in the execution of procedures. For instance, in January 2022, Johnson & Johnson partnered with Microsoft to advance digital surgery solutions. Similarly, in January 2024, Caresyntax announced the launch of a novel Real-World Evidence (RWE) program and software portfolio of digital catalysts aimed at facilitating the commercial acceleration of its medtech partners.

Increased Adoption of AR/VR Surgical Simulators: The augmented adoption of virtual reality and augmented reality surgical simulation represents a transformative shift in surgical education and training, offering numerous benefits such as enhanced immersion, precise skill development, safe learning environments, personalized training, collaborative learning experiences, continuous education and assessment, and opportunities for research and innovation. As these technologies continue to evolve, they are poised to play an increasingly integral role in shaping the future of surgical practice and education.

Improved Precision and Promising Post-Operative Rehabilitation through Pre-Surgical Planning: Personalized pre-surgical planning using 3D-printed patient models and AI simulations enables surgeons to perform highly precise procedures, leading to faster healing, reduced complications, and a more effective post-operative rehabilitation experience for patients.

By investing in thorough pre-surgical planning, surgeons can achieve pinpoint accuracy during surgery, resulting in shorter hospital stays, less pain for patients, and a smoother path to recovery through targeted rehabilitation programs.

Market Challenges:

• Substantial Expenses Associated with Installation and Maintenance: The substantial expenses associated with the installation and maintenance of digital surgery technology products underscore the importance of careful financial planning and resource allocation by healthcare organizations. Despite the initial investment and ongoing costs, the benefits of digital surgery technology in terms of improved patient outcomes, enhanced surgical precision, and operational efficiency justify the expenditure for many healthcare providers.
• Requirement of Additional Surgical Training for the Use of Digital Surgery Products: The requirement for additional surgical training for the use of digital surgery products presents challenges related to the complexity of new technology, the steep learning curve, limited training resources, integration into surgical workflow, costs of training and implementation, patient safety considerations, and credentialing requirements. Overcoming these challenges requires a coordinated effort from healthcare institutions, manufacturers, professional organizations, and individual surgeons to ensure that adequate training and support are provided to facilitate the safe and effective use of digital surgery products in clinical practice.

Market Opportunities:

• Ensuring Data Security and Privacy in Digital Surgery: Healthcare organizations can ensure data security and privacy in digital surgery, thereby safeguarding patient information and maintaining trust in healthcare systems. The revolution in digital surgery brings immense benefits, but with it comes a critical responsibility, i.e., safeguarding patient data security and privacy. As sensitive information flows through complex systems, robust measures are essential to build trust and ensure ethical implementation.
• Growing Use of Digital Surgery Technologies Potentially Offsetting the Initial Investment over Time in Hospitals: The growing use of digital surgery technologies in hospitals has the potential to offset the initial investment over time by reducing operating costs, minimizing complications and revisions, enhancing patient outcomes, optimizing resource utilization, providing a competitive advantage, and delivering long-term ROI. As these technologies continue to evolve and become more widespread, their value proposition for hospitals in terms of cost savings and operational efficiencies is expected to further increase.

Some prominent names in the global digital surgery technologies market include:

• Activ Surgical
• Augmedics
• Brainlab
• Caresyntax
• Centerline Biomedical
• EchoPixel, Inc.
• FundamentalVR
• Medical Realities
• Medtronic
• Osso VR
• PrecisionOS
• Stryker Corporation
• Surgical Science Sweden
• VirtaMed

Key Topics Covered:

1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Integration of Augmented Reality (AR) and Virtual Reality (VR) in Surgical Procedures
1.1.2 Increasing Investment and Funding for Digital Surgery Technologies
1.1.3 Increasing Partnerships among Players
1.2 R&D Review
1.3 Database of the FDA-Approved AI/ML-Based Medical Devices and Algorithms, 2023
1.4 Regulatory Landscape
1.4.1 Regulatory Framework for Artificial Intelligence-Based FDA-Approved Medical Devices and Algorithms
1.4.1.1 Restraints in the Current Regulatory Process for AI/ML-Based Medical Device/Algorithm
1.4.3.1 Changes in Rule
1.4.3.2 New Rules in the Annexure VIII
1.4.3.3 Major Changes in the EU due to the Implementation of MDR
1.4.3.3.1 Expanded Device Definitions Requiring Re-Examination of the Current Classification of All Devices
1.4.3.3.2 Quality Management System
1.4.3.3.3 Technical File
1.4.3.3.4 Need to Comply with New Identification and Traceability (UDI) Requirements
1.4.3.3.5 More Emphasis on Post-Market Surveillance
1.4.3.3.6 Role of Internal Audits and Requirement of Audits to be Strengthened
1.4.3.3.7 Dedicated Personnel for MDR Compliance
1.4.4 Regulatory Framework
1.5 Consumer Analysis
1.6 Case Studies

• Training for Orthopedic Surgery
• Enhancing Surgical Performance and Teamwork through Video-Based Analytics
• Surgical Navigation, and Advanced Visualization Systems, Augmented Reality (AR)
• Enhancing Surgical Skill

1.7 Impact Analysis for Key Global Events - COVID-19
1.8 Market Dynamics: Overview

2 Global Digital Surgery Technologies Market (by Application)

3 Global Digital Surgery Technologies Market (by Product)

4 Regions

5 Markets -Competitive Benchmarking & Company Profiles
5.1 Next Frontiers
5.2 Geographic Assessment
5.3 Market Share Analysis
5.4 Product Benchmarking
5.5 Company Profile

For more information about this report visit https://www.researchandmarkets.com/r/m28e82

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