The global precision surgery device market was valued at USD 5.14 billion in 2021, likely to reach USD 18.99 billion by 2030 is growing at a CAGR of 15.63% from 2022 to 2030. North America is expected to grow the fastest during the forecast period.
The manual use of medical devices, instruments, tools & procedures to operate pathological conditions such as cardiovascular diseases or accident/trauma injuries is surgery. Surgeries are undertaken to repair injured or malfunctioning organs, improve the functions of organ systems, or enhance one's appearance. Cardiothoracic, ophthalmic, orthopedic, neurological & general surgeries are some of the standard surgical procedures performed worldwide. When an instrument, machine, appliance, or apparatus is used for medical purposes in combination with software or on a standalone basis, it is termed a medical device. Globally, they are classified into three categories: class I devices, Class II devices & class III devices, with class I being the low-risk devices, class II as intermediate risk, and class III as high-risk devices. A precision surgery device is a medical device used in surgical procedures. It can help avoid the significant risks & other concerns associated with open surgical procedures. Precision surgery devices are minimally invasive and leave no large scars. New technological advancements in precision surgery devices will propel the market's growth in the forecast period with its growing applications in various surgical procedures.
Precision surgery device market growth would be driven by the increasing incidence of accidents, sports injuries, and other diseases that require surgical intervention. The growing research and development of innovative wound closure devices are gaining traction in the medical industry. The minimally invasive nature of precision surgery devices with enhanced healing post-op contributes to the growing adoption of these devices in the healthcare industry. The growing geriatric population will lead to the demand for precision surgery devices as they are less painful compared to open surgeries. It also causes less discomfort and allows the patient to minimize scarring. The risks associated with open surgeries, like causing damage to healthy organs, are minimized. Precision surgery devices also enable healthcare professionals to treat minute abnormalities that were previously impossible with other means. The technological advancements in artificial intelligence and machine learning have created state-of-the-art medical devices, thereby offering lucrative opportunities in the precision surgery device market. Integrating robotics and the internet of things (IoT) in medicine has improved hospital success or survival rates, thereby contributing to the increasing adoption of precision surgery devices.
On May 13, 2022, Medtronic plc, a medical technology, solution, and service company, announced plans to acquire Intersect ENT, Inc., a California-based business. The acquisition will expand the company's extensive ENT portfolio with cutting-edge products used in sinus procedures to enhance postoperative outcomes and treat nasal polyps.
Get an overview of this study by requesting a free sample
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Application
4.3.2. Market Attractiveness Analysis by Type
4.3.3. Market Attractiveness Analysis by End User
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increase in incidence of acute and chronic diseases
5.3. Restraints
5.3.1. Precision surgery devices are expensive
5.4. Opportunities
5.4.1. Technological advancements
5.5. Challenges
5.5.1. Regulatory guidelines
5.5.2. Lack of skilled professionals
6. Global Precision Surgery Device Market Analysis and Forecast, By Application
6.1. Segment Overview
6.2. Orthopedic
6.3. Neurosurgery
6.4. Cardiovascular
6.5. Wound Closure
6.6. Others
7. Global Precision Surgery Device Market Analysis and Forecast, By Type
7.1. Segment Overview
7.2. Handheld Surgical Devices
7.3. Electrosurgical Devices
7.4. Others
8. Global Precision Surgery Device Market Analysis and Forecast, By End User
8.1. Segment Overview
8.2. Hospitals
8.3. Specialty Clinics
8.4. Ambulatory Settings
8.5. Long-Term Care Centers
8.6. Others
9. Global Precision Surgery Device Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Precision Surgery Device Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Precision Surgery Device Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Alcon
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Aspen Surgical
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. B. Braun SE
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Baxter
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Boston Scientific
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Johnson & Johnson
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Medtronic PLC
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Siemens Healthcare GmbH
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Stryker Corporation
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Zimmer Biomet
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
2. Global Orthopaedic Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
3. Global Neurosurgery Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
4. Global Cardiovascular Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
5. Global Wound Closure Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
6. Global Others Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
7. Global Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
8. Global Handheld Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
9. Global Electrosurgical Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
10. Global Others Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
11. Global Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
12. Global Hospitals Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
13. Global Specialty Clinics Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
14. Global Ambulatory Settings Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
15. Global Long-Term Care Centers Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
16. Global Others Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
17. Global Precision Surgery Device Market, By Region, 2019-2030 (USD Billion)
18. North America Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
19. North America Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
20. North America Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
21. U.S. Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
22. U.S. Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
23. U.S. Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
24. Canada Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
25. Canada Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
26. Canada Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
27. Mexico Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
28. Mexico Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
29. Mexico Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
30. Europe Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
31. Europe Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
32. Europe Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
33. Germany Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
34. Germany Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
35. Germany Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
36. France Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
37. France Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
38. France Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
39. U.K. Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
40. U.K. Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
41. U.K. Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
42. Italy Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
43. Italy Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
44. Italy Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
45. Spain Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
46. Spain Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
47. Spain Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
48. Asia Pacific Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
49. Asia Pacific Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
50. Asia Pacific Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
51. Japan Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
52. Japan Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
53. Japan Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
54. China Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
55. China Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
56. China Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
57. India Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
58. India Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
59. India Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
60. South America Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
61. South America Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
62. South America Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
63. Brazil Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
64. Brazil Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
65. Brazil Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
66. Middle East and Africa Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
67. Middle East and Africa Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
68. Middle East and Africa Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
69. UAE Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
70. UAE Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
71. UAE Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
72. South Africa Precision Surgery Device Market, By Application, 2019-2030 (USD Billion)
73. South Africa Precision Surgery Device Market, By Type, 2019-2030 (USD Billion)
74. South Africa Precision Surgery Device Market, By End User, 2019-2030 (USD Billion)
List of Figures
1. Global Precision Surgery Device Market Segmentation
2. Precision Surgery Device Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Precision Surgery Device Market Attractiveness Analysis by Application
9. Global Precision Surgery Device Market Attractiveness Analysis by Type
10. Global Precision Surgery Device Market Attractiveness Analysis by End User
11. Global Precision Surgery Device Market Attractiveness Analysis by Region
12. Global Precision Surgery Device Market: Dynamics
13. Global Precision Surgery Device Market Share by Application (2022 & 2030)
14. Global Precision Surgery Device Market Share by Type (2022 & 2030)
15. Global Precision Surgery Device Market Share by End User (2022 & 2030)
16. Global Precision Surgery Device Market Share by Regions (2022 & 2030)
17. Global Precision Surgery Device Market Share by Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global precision surgery device market based on below mentioned segments:
Global Precision Surgery Device Market by Application:
Global Precision Surgery Device Market by Type:
Global Precision Surgery Device Market by End User:
Global Precision Surgery Device Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date