Surgical Instrument Tracking System Market to grow by USD 157.17 million from 2022 to 2027
The increasing elderly population with chronic diseases, as well as an increase in surgical volume, is a major factor contributing to the growth of the regional market. The growth of the North American Surgical Instrument Monitoring Market is expected to be driven by an increasing incidence of Colorectal cancer, ulcerative colitis, and orthopedic and gynecological surgery. Moreover, as they design and develop high-precision disposable and reusable surgical scalpels, the presence of established regional players meets the specific needs of end users. Favorable reimbursement policies in the US controlled by the Centers for Medicare and Medicaid Services (CMMS), which have structured systems and frameworks for such devices, are also driving the market growth in this region.
An increase in the volume of surgeries coupled with chronic diseases in the older population is a key factor driving market growth. Surgical care is essential to manage various conditions such as orthopedic, ENT, thoracic, and many other chronic conditions. The increase in the number of surgical procedures to treat these chronic diseases is driving the demand for surgical instruments. Complex surgeries involving the spine, nerves, and skull require sophisticated and advanced surgical instruments with high precision and reliability. In addition, surgical instruments are used for heart surgery, cesarean section, and weight loss surgery. Therefore, the increasing number of target groups with chronic diseases requiring surgery as the best treatment option will increase the demand for surgical instruments. Hence, these factors are expected to drive market growth during the forecast period.
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