Augmented Reality in Spine Surgery Market Growth and Forecast: Key Players and Trends.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Augmented Reality in Spine Surgery Market - (By Spine Condition (Degenerative Spine Conditions and Traumatic Spine Injuries), By Application (Minimally Invasive Spine Surgery, Postoperative Spine Rehabilitation, Preoperative Planning, and Educational & Training Purpose), By Component (Hardware and Software), By End Users (Hospitals, Ambulatory Surgical Centers (ASCs), and Research Institutes)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Augmented Reality in Spine Surgery Market is expected to grow with a CAGR of 22.6% during the forecast period of 2024-2031.

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The Spine Surgery Market refers to the market for spine surgical operations. It comprises a variety of operations designed to address spine-related illnesses or accidents, such as spinal deformities, herniated discs, spinal stenosis, and spinal fractures. A unique blend of precision, coordination, and anatomical knowledge distinguishes spinal surgery. The learning curve is steep, and the likelihood of error is significant. However, as technology advances, techniques such as augmented reality (AR) and mixed reality (MR) emerge that not only assist in overcoming these problems but also open up new possibilities in minimally invasive and sophisticated operations. These technologies, frequently linked with gaming and science fiction, are now becoming an essential component of spinal surgical applications, both in training and practice. Augmented reality incorporates a number of virtual and real-world aspects to give the user the impression that they are in a virtual world. Mixed reality (MR) combines actual and virtual surroundings, as well as artificial interactions between the two.

As a result, many top medical and technology companies are looking for novel ways to integrate surgical and computer imaging technologies to achieve key discoveries, necessitating a relevant examination of how AR and MR technologies are employed in surgical research. Few such articles have been published thus far, emphasizing the importance of examining present and future advancements in this study area to understand and guide the research path in this interesting and innovative field.

List of Significant Players in the Augmented Reality in Spine Surgery Market:
• Augmedics
• OnPoint Surgical
• Taiwan Main Orthopaedic Biotechnology Co., Ltd.
• Surgalign Holdings
• EchoPixel
• Philips
• Vuzix Corporation,
• others.

Market Dynamics:
Drivers-
The Augmented Reality (AR) in Spine Surgery Market is rising, and three major drivers are driving it. AR technology improves surgical precision by providing surgeons with real-time guidance and imagery, allowing them to perform treatments more accurately. Furthermore, it enhances surgical training and education by letting surgeons perform complex surgeries in a virtual environment, resulting in improved abilities and knowledge. Finally, AR in spine surgery promotes a more patient-centred approach, allowing for tailored treatment regimens and better communication between surgeons and patients.

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Challenges:
There is also the financial aspect, as sophisticated technology and equipment can be rather costly, making it difficult for some healthcare facilities to implement them. In addition, introducing new technologies into surgical operations comes with a learning curve that requires surgeons and medical staff to receive training and adjust to new workflows. Furthermore, ensuring patient acceptance and trust in this new technology might be difficult, since some may be hesitant to adopt novel techniques for spine surgery. Overcoming these issues is critical to the continued expansion and success of the spine surgery sector.

Regional Trends:
North America is predicted to lead the worldwide augmented reality in the spine surgery market during the forecast period. The augmented reality in spine surgery market in North America is expanding due to increased acceptance, investment in research & development (R&D) activities, and favourable government policies. Furthermore, Asia Pacific is expected to grow the fastest throughout the projected period, thanks to increased public awareness and improvements in healthcare facilities in emerging countries. Asia Pacific is also expected to be a promising outsourcing market for the development and deployment of augmented reality technology in spine surgery.

Recent Developments:
• In February 2023, FYR Medical announced a $2.6 million Series A financing round. FYR Medical, a pioneer in spinal technology innovation, said today that it has raised $2.6 Mn in a Series-A fundraising round led by NuVasive, Inc., a premier spine technology company aiming to transform spine surgery with minimally disruptive, fully integrated solutions.
• In December 2019, Augmedics unveiled its Xvision spinal AR-guided system for spinal surgery for the first time in the United States. This method enables the surgeon to monitor the patient's 3D spinal anatomy throughout the process. The FDA cleared the Xvision system in December 2019.

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Segmentation of Augmented Reality in Spine Surgery Market-
By Spine Condition -
• Degenerative Spine Conditions
• Traumatic Spine Injuries
By Component -
• Hardware
• Software.
By Application -
• Minimally Invasive Spine Surgery
• Postoperative Spine Rehabilitation
• Preoperative Planning,
• Educational & Training Purpose
By End-User -
• Hospitals,
• Ambulatory Surgical Centers (ASCs),
• Research Institutes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.