Precision Surgery Device Market Size to Hit USD 18.99

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,…