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According to the new research report published by The Insight Partners, titled “Surgical Smart Glasses Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market is expected to reach US$ US$ 303,934.14 thousand by 2028 from US$ 145,287.76 thousand in 2020; it is estimated to grow at a CAGR of 9.9% from 2020 to 2028. The report highlights the trends prevailing in the market along with the market drivers and deterrents. The factors such as growing emphasis on superior surgical procedural outcomes and increasing number of surgical procedures fuel the market growth.
The increasing emphasis on achieving improved treatment outcomes is actively contributing to the growth of the surgical smart glasses market. There is high possibility of the occurrence of adverse effects of many surgical procedures, which might as well lead to mortality. Therefore, in crucial cases, it becomes very essential to utilize advanced equipment to avoid possible ill-effects. According to a study published by the World Health Organization (WHO) in 2019, unsafe medical care causes ~2.6 million deaths each year in the low- and middle-income countries. Such significant extent of lethality is anticipated to boost the adoption of advanced computing devices, which will eventually bolster the growth of surgical smart glasses market during the forecast period.
Based on type, the global surgical smart glasses market is bifurcated into wireless type and wire type. In 2020, the wireless type segment held a larger share in the market. Moreover, the market for the same segment is expected to hold a higher market share by 2028. The wireless surgical smart glasses allow real-time streaming video of surgery to multiple locations, by reducing travel time and enabling access of healthcare to remote locations. This factor, in turn, is likely to boost the demand for surgical smart glasses across the world in the forecast period.
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The COVID-19 pandemic is having the significant positive impact on the surgical smart glasses market. COVID-19 vaccine has been developed by several pharmaceutical companies and is vaccination has been started. Thus, the surgical smart glasses market is growing due to the increasing awareness about remote clinical support as an option for surgeons, which is also anticipated to have a positive impact on the other segments of the market in the coming months. On the other side, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.
A few prominent players operating in the surgical smart glasses market are MEDITHINQ CO., LTD; Taiwan Main Orthopaedic Biotechnology; IRISTICK; DTU Srl.; Vuzix Corporation; Pixee Medical; RODS AND CONES.; AMA XpertEye; ImmersiveTouch, Inc.; and Microsoft Corporation.
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