The Future of Surgical Instrument Tracking System: A Market Analysis
The new report titled ‘Global Surgical Instrument Tracking System Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Surgical Instrument Tracking System Market outlook over the forecast duration (2022-2030).
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The global Surgical Instrument Tracking System market size was USD 186.7 Million in 2021 and is expected to register a revenue CAGR of 12.1% during the forecast period. Increasing preference for robotic surgeries owing to the benefits offered such as minimal risk of errors and others, technological advancements in medical devices, increasing need for federal government device identifications are some of the key factors driving market revenue growth.
Robotic-assisted orthopedic surgery is gaining popularity in various countries across the globe, and it is expected to gain traction at a significantly high rate over the next few years as surgeons and patients seek better and more predictable outcomes. According to research, with approximately 200,000 joint replacement procedures performed each year, the need exists, and the opportunity to introduce a game-changing new technology is well-timed. Various major companies are launching surgical devices, which are increasing the demand for this market. For instance, on 13 July 2021, Smith and Nephew, a global medical technology company, announced the launch of its Real Intellectual ability suite of enabling technology solutions in India, which includes its next-generation robotics platform, the CORI Surgical System.
The report studies the impact of the COVID-19 pandemic on the Surgical Instrument Tracking System market and its crucial segments. The supply chain disruptions and economic instability have negatively impacted the growth of the market in several key regions. The report offers an in-depth analysis of the market size, market share, and market growth and its estimation through the forecast years on the basis of the COVID-19 crisis. The report examines the recent COVID-19 crisis and its impact on the global market. The report explores the present and future impact of the pandemic and provides an insight into the post-pandemic market scenario.
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Emergen Research has segmented the global Surgical Instrument Tracking System market on the basis of product, technology, end-use, and region:
Product Outlook (Revenue, USD Million; 2019-2030)
Hardware
Software
Others
Technology Outlook (Revenue, USD Million; 2019-2030)
RFID
Barcodes
End-Use Outlook (Revenue, USD Million; 2019-2030)
Hospitals
Ambulatory surgical centers
Others
Competitive Outlook:
The global Surgical Instrument Tracking System market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Surgical Instrument Tracking System market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.
Key Companies Profiled in the Report are:
BD, Xerafy Singapore Pte Ltd., FingerPrint Medical Limited, Getinge AB, B. Braun SE, Haldor Advanced Technologies, Microsystems, Inc., Ternio Group LLC, Keir Surgical, and Paragon Group Limited.
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Key regions in the market include:
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
Additional information offered by the report:
Along with a complete overview of the global Surgical Instrument Tracking System market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Surgical Instrument Tracking System market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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