Single Port Surgical Platforms Market Size, Share, Growth, and Industry Analysis, By Type (Segment Single Arm Single Port Platforms, Multi Arm Single Port Platforms, Type II), By Application (Segment Hospital, Medical Training Institutions, Application 2), Regional Insights, and Forecast from 2023 to 2031

Updated On: 15 April 2024

Single Port Surgical Platforms Market REPORT OVERVIEW

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global single port surgical platforms market size was USD  17 million in 2022  and market is projected to touch 160.68 million by 2031, exhibiting a CAGR of 24.9% during the forecast period.

A single-entry point is made on the body through a single trocar that has multiple ports, or a single skin cut site with multiple facial cuts that have a single trocar, are used to conduct the medical procedure in the single port careful stage (SPSP), a significant intrusive laparoscopy procedure. Single-Incision Laparoscopic Surgery (SILS), Single Port Access Surgery (SPA), and Laparo-Endoscopic Single-Site Surgery (LESS) are alternate names for single port cautious phases. In order to conduct stomach surgical procedures, large entrance sites are typically created.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

Although they are effective, they typically result in postoperative pain, wound infections, and delayed hospitalization. Incisional hernias occur at a rate of 4–18% and wound infections at a rate of 2–25% currently in the United States, although several entry points are established on the body during routine laparoscopic surgeries to guide the surgery. Players are focusing on promoting innovative products to increase a position in the worldwide single port surgical platform market. In order to create opportunities in the global single port surgical platform market, which are then needed to lure new participants, late research and enhancements intended to develop a wide range of antiviral medications are also relied upon.

Single Port Surgical Platforms Market SEGMENTATION

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• By Type

Based on type the global single port surgical platforms market is classified as segment single arm single port platforms, multi arm single port platforms, type II.

• By Application

Based on application the global single port surgical platforms market is classified as segment hospital, medical training institutions, application 2.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth "

The market for single port surgical platforms is primarily driven by factors such as mechanical developments, an increase in the number of SPSPs available, a growing preference for minimally intrusive medical procedures, and research into the platforms' potential applications. Growing consumer preference for medical procedures that leave no scars is a key factor driving the market's expansion. Specialists can now do treatments in the stomach pit by slipping through tiny cracks at this point.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

Additionally, SPSP lowers treatment expenses by reducing patient clinic stays. As a result, SPSP is preferred by patients and medical professionals when compared to alternatives. Significant cost, a lack of competent experts, and triangulation problems are the key requirements of this sector. The SPSP, or single port careful stage, is divided according to its use and invention. This is another important aspect fueling the expansion of the global single port surgical platform market between 2016 and 2024.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

A number of factors, including rising end-user demand from individuals and enterprises as well as government support for the technology, have contributed to the market's expansion. Additionally, with an increase in the number of applications for the technology in fields like data management, security, and communication, the rise of digitalization has opened up new possibilities for single port surgical platforms. The demand for related goods and services has increased, and this has resulted in a large increase in the market for single port surgical platforms. Due to a variety of causes, including technological development, rising consumer awareness, and a growth in the number of applications for the technology, the market has been developing.

Single Port Surgical Platforms Market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

From 2016 to 2024, North America is anticipated to account for the highest proportion of the worldwide single port surgical platform market. The quick use of technology by numerous healthcare firms is another factor contributing to the region's dominance. North America is anticipated to dominate the regional market for single port surgical platforms globally from 2016 to 2024 as a result of these improvements. Da Vinci SP Surgical System, MicroPort Scientific, SHURUI, and others are some of the major international manufacturers of single port surgical platforms. With a share of almost 90%, the top three competitors. The largest market is America, with a share of roughly 33%. China and South Korea are the next-largest markets, with shares of 30% and 26%, respectively. The greatest manufacturer is America, with a market share of roughly 62%, followed by China with 38%.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• da Vinci SP Surgical System (US)
• MicroPort Scientific Corporation (China)
• SHURUI (China)
• Shenzhen Jingfeng MEDICAL Technology (China)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.