Global Surgical Instrument Tracking System Market research report offers a panoramic view of the Surgical Instrument Tracking System Market, regulatory framework, and macro- and micro-economic factors that influence the growth of the industry. The report strives to offer authentic information about the Surgical Instrument Tracking System Market size, share, product portfolio, revenue estimations, and growth rate. The report has been formulated through extensive primary and secondary research along with verified and reliable data obtained from industry experts and professionals.
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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.
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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.
Leading manufacturers profiled in the report:
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.
Market Overview:
The report bifurcates the Surgical Instrument Tracking System market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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
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Unfolding the prime factors prompting global market growth:
The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Surgical Instrument Tracking System market into a broad product spectrum.
The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
Global Surgical Instrument Tracking System Market Geographical Landscape - Synopsis:
The report closely studies the growth trajectory of the global Surgical Instrument Tracking System market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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