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Global Powered Surgical Instrument Market Expected to Reach $2,731 Million by 2025

 
 

quote Rising demand of non-invasive & minimally invasive surgery and growing geriatric population play a major role in the growth of the powered surgical instrument market. Furthermore, rise in medical tourism in developing countries is expected to boost the market growth in the coming years. quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

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According to a new report published by Allied Market Research, titled,"Powered Surgical Instrument Market by Product, Power Source, and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global powered surgical instrument market generated $1,943 million in 2017 and is projected to reach $2,731 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025. The handpieces segment accounted for more than three-fifth of the total market share in 2017.

Powered surgical instruments are high-powered specially designed instruments that are used for performing specific or desired actions during a surgery. There are several high-powered surgical drill systems present in the market such as reamer systems, saw systems, stapler, shavers, and other handpieces, which are used during orthopedic, neuro, cardiovascular, cardiothoracic, and various other surgeries.

The global powered surgical instrument market is expected to exhibit significant growth during the forecast period due to increasing prevalence of chronic diseases globally and growing aging population. In addition, increasing volume of surgical procedures further supplements the growth of the global market. However, pressure of reducing healthcare cost and lack of skilled personnel in the developing countries are projected to impede the market growth. On the contrary, growing medical tourism in developing countries is expected to provide lucrative opportunities for the market growth.

Based on product, the market is segmented into handpieces, power source & controls, and accessories. Handpieces segment is further divided into drill systems, reamer systems, saw systems, stapler, shavers, and others. Power source & controls segment is further divided into batteries, electric consoles, and pneumatic regulators. Accessories segment is further divided into surgical accessories and electrical accessories. The accessories segment is anticipated to exhibit the highest CAGR during forecast period due to bulk purchase, low cost, and shorter lifespan than the product.

By application, the market is classified into orthopedic surgery, neurosurgery, ENT surgery, cardiovascular surgery, plastic surgery, cardiothoracic surgery, and others. The orthopedic surgery segment was the major revenue contributor in 2017 and is projected to continue this trend during the forecast period, due to the rising demand of minimally invasive surgery in orthopedics and growing aging population which in turn increases the demand of powered surgical instruments in orthopedic surgery.

North America is expected to remain dominant throughout the forecast period due to the highly sophisticated healthcare infrastructure and high adoption rate of technologically advanced surgical tools. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to growing medical tourism in this region.

Key Findings of thePowered Surgical Instrument Market:

  • Based on power source, the battery-powered instruments segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 4.9% from 2018 to 2025.
  • Depending on application, the cardiovascular surgery segment is expected to exhibit the highest CAGR during the forecast period.
  • By product, the handpieces segment was the major revenue contributor in 2017 and is anticipated to continue this trend during the forecast period.
  • The U.S. generated the highest revenue in the global powered surgical instrument market in 2017, accounting for almost two-fifth of the global market in 2017.
  • Asia-Pacific is estimated to grow at a CAGR of 5.4% during the forecast period.

The report provides a comprehensive analysis of the key players operating in the global powered surgical instrument market, namely, AlloTech Co. Ltd., Conmed Corporation, Depuy Synthes (Johnson & Johnson), Medtronic plc, Stryker Corporation, Zimmer Biomet, adeor Medical AG, Smith & Nephew plc, B. Braun Melsungen AG, and MicroAire Surgical Instruments, LLC.
The other players in the value chain include De Soutter Medical Ltd., GEISTER Medizintechnik GmbH, Peter Brasseler Holdings, LLC, Ruijin Medical Instrument & Device Co., Ltd., Intrauma S.p.A., and others.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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quote Powered Surgical Instrument Market by Product (Handpieces, Power Source & Controls, and Accessories), Power Source (Battery-Powered Instruments, Pneumatic Instruments, and Electric Instruments), and Application (Orthopedic Surgery, Neurosurgery, ENT Surgery, Cardiovascular Surgery, Cardiothoracic Surgery, Plastic Surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 quote

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