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Precision Surgery Device Market Size to Hit USD 18.99 Billion by 2030 | Rising Demand in Neurological Surgical Procedures & High Investment by Top Companies to Bolster Growth: The Brainy Insights

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Newark, Sept. 30, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global precision surgery device market is expected to grow from USD 5.14 billion in 2021 to USD 18.99 billion by 2030, at a CAGR of 15.63% during the forecast period 2022-2030.

A sedentary lifestyle, lack of exercise, bad eating habits, and a rise in the number of hours spent in front of laptops and smartphone displays have all contributed to an increase in the number of people with acute and chronic diseases. Cardiovascular, respiratory, and orthopedic diseases are becoming more common among the aging population. Precision surgery devices are increasingly used in surgical procedures due to their minimally invasive nature and quicker healing times. The global market is driven during the forecast period by the rising usage of precision surgery equipment and the rising prevalence of disorders.

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Accidents are also among the leading causes of death worldwide, which will drive the market’s growth. Major players have invested capital into research and system development to meet the growing need for precision surgery technologies. Robust technological advancements and developments in precision surgery equipment will boost industry efficiency and competitiveness, fostering the sector’s expansion and creating profitable prospects for market participants. However, the high cost of precision surgery devices can hamper the market’s growth. Stringent government guidelines and regulations will also challenge the market forecast period. The lack of skilled professionals to operate these devices will also limit the market’s growth. Innovations and comprehensive approval mechanisms can help overcome these challenges and provide an impetus to the global precision surgery device market.

Competitive Strategy

To enhance their market position in the global precision surgery device market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In August 2022, Edwards Lifesciences’ Pascal Precision system, its newest treatment for mitral and tricuspid regurgitation patients, received a CE mark. With the regulatory nod, Edwards will be able to launch the surgical device in the European market. According to a statement offered by the company’s CEO, the firm is scheduled to receive approval from the FDA before year-end.

Market Growth & Trends

The rise in accidents, sports injuries, and other conditions requiring surgical intervention will fuel the market for precision surgery devices. The medical sector is witnessing an increase in the study, research, and development of novel wound closure devices, which is anticipated to drive product innovations in the market. Precision surgery devices are becoming more widely used in healthcare due to their minimally invasive design and improved post-operative healing. Precision surgery gadgets are less painful than open operations, so the aging population will drive the market for them. Additionally, it lessens discomfort and enables the patient to reduce scarring. The dangers of open surgery, such as harm to internal organs, are minimized. Medical experts can also use precision surgery tools to repair the little anomalies that were previously impossible to fix. Advances in artificial intelligence and machine learning are creating lucrative opportunities in the market. Precision surgery equipment is becoming more widely used due to the use of robotics and the internet of things (IoT) in medicine to increase hospital success or survival rates.

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Key Findings

• In 2021, the cardiovascular segment dominated the market with the largest market share of 45% and market revenue of 2.31 billion.

The application segment is divided into orthopedic, neurosurgery, cardiovascular, wound closure, and others. In 2021, the cardiovascular segment dominated the market with the largest market share of 45% and market revenue of 2.31 billion.

• The handheld surgical devices segment is expected to grow at the fastest CAGR of 17.15% over the forecast period.

The type segment is divided into handheld surgical devices, electrosurgical devices, and others. Over the forecast period, the handheld surgical devices segment is expected to grow at the fastest CAGR of 17.15%.

• In 2021, the hospitals’ segment accounted for the largest share of the market, with 53% and a market revenue of 2.72 billion.

The end-user segment is divided into hospitals, specialty clinics, ambulatory settings, long-term care centers, and others. In 2021, the hospitals’ segment accounted for the largest share of the market, with 53% and a market revenue of 2.72 billion.

Regional Segment Analysis of the Precision Surgery Device Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the North American region emerged as the largest market for the global precision surgery device market, with a market share of around 37.66% and 1.93 billion of the market revenue in 2021. Healthcare is more readily available and more reasonably priced for the populace due to the high per capita income and the established insurance market with favorable reimbursement policies in the region. The growing elderly population also fuels the growing need for surgery. The market for precision surgery devices has benefited from the growing need for reconstructive, plastic, and other procedures to enhance body aesthetics. Furthermore, the rising government spending on healthcare infrastructure will influence the market’s growth in the upcoming years.

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Key players operating in the global precision surgery device market are:

• Alcon
• Aspen Surgical
• B. Braun SE
• Baxter
• Boston Scientific
• Johnson & Johnson
• Medtronic PLC
• Siemens Healthcare GmbH
• Stryker Corporation
• Zimmer Biomet

This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global precision surgery device market based on the below-mentioned segments:

Global Precision Surgery Device Market by Application:

• Orthopedic
• Neurosurgery
• Cardiovascular
• Wound Closure
• Others

Global Precision Surgery Device Market by Type:

• Handheld Surgical Devices
• Electrosurgical Devices
• Others

Global Precision Surgery Device Market by End User:

• Hospitals
• Specialty Clinics
• Ambulatory Settings
• Long-Term Care Centers
• Others

About the report:

The global precision surgery device market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

Contact Us

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected] 
Web: http://www.thebrainyinsights.com

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Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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May 10, 2024

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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