Surgical Instrument Tracking System Market: A Complete Guide for Investors and Researchers

by James Gunther

The Market Intelligence Report provides a complete overview of the Surgical Instrument Tracking System Market along with details on the competitive landscape and profiles of the key players operating in this business. Our analyst team evaluates many other important aspects of the market, including historical market trends, estimated growth rates, revenue generation, production capacity, pricing structure, and key market drivers, opportunities, challenges and constraints. Did. This report further explores key facts and figures related to current market conditions and provides an industry-validated database for companies looking to invest in the market.

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, according to latest analysis by Emergen Research. 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.

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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.

Furthermore, increasing need for federal government device identification is driving demand for surgical instrument tracking devices. For instance, on 21 June 2021, FDA approved various types of computer-assisted surgical systems, which can be used for pre-operative planning, surgical navigation, and assisting with surgical procedures. One type of computer-assisted surgical system is Robotically-Assisted Surgical (RAS) devices. RAS devices, also known as robotic surgery, allow surgeons to regulate and move surgical tools through one or more tiny incisions in the patient’s body (minimally invasive) for a variety of surgical procedures.

The researchers have considered all the factors influencing the growth of the Surgical Instrument Tracking System market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Surgical Instrument Tracking System market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Surgical Instrument Tracking System market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.

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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Surgical Instrument Tracking System market.

Furthermore, the report provides details about the new players entering the market, and entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.

The leading market contenders listed in the report are as follows:

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.

The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.

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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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.

Radical Features of the Surgical Instrument Tracking System Market Report:

The report encompasses Surgical Instrument Tracking System market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Surgical Instrument Tracking System industry

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