The global powered surgical instrument market is expected to grow at a CAGR of around 4.0% from 2019 to 2026 and reach the market value of over US$2,900 Mn by 2026.
Powered surgical instrument is a market of technological instruments used to assist at the time of performing neurological and orthopedic surgery. This surgical powered instrument is categorized by product which includes high speed equipment, large bone battery/electric equipment, small bone pneumatic equipment, large bone pneumatic equipment, and small bone electrical equipment. In surgery and RF electro surgery systems, surgeons often use saws, clip appliers, surgical drills, and surgical staplers to cauterize tissue and cut in almost all types of surgical procedures.
The major factors that drive the powered surgical instrument market include dominance of chronic disease and growing geriatric population due to rising awareness regarding healthcare among population. Other factor that attributed the growth of the powered surgical instrument market is increasing demand of surgical procedures and minimally invasive as well as non-invasive surgeries. Some factors that limit market growth are continuous pressure on healthcare suppliers to decrease expenses, insufficient quality assurance and insufficient sterilization practices for machinery.
The market is segmented into product, power source, application and region. The product segment is bifurcated into hand piece, power source & controls, and accessories. The hand pieces segment held the highest revenue in 2018 and is anticipated to maintain the growth through the forecast period with fastest growing CAGR from 2019-2026. The hand piece comprises 65% of the global market due to increasing approval for innovative technologically powered surgical instruments and also rising demand for minimal invasive surgery. Furthermore, the demand for hand piece segment is significantly growing due to its precise features such as high efficiency, high power, and lightweight.
The market research study on “Powered Surgical Instrument Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global powered surgical instrument market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global powered surgical instrument market, its product, power source, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. The flavored veterinary medication market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, Middle East & Africa followed by major countries. For each region, the market size for different segments has been covered under the scope of report. North America is likely to dominate the powered surgical instrument market in terms of revenue, followed by Europe due to increasing in number of geriatric population, high disposable income, favorable government rules and regulations, and adoption of innovative technologies. The Asia-Pacific region depicts the fastest growing market for hardware and accessories for powered surgical instruments, mainly owing to enhanced medical tourism, improved accessibility to health care facilities, and increased incidence of chronic diseases requiring surgical procedures in the region. Latin America shows prominent growth of the powered surgical instrument market owing to adoption of advanced technological such as surgical robots, increasing frequency of diseases like cancer, neurological diseases, cardiovascular disease, and orthopedic conditions. Other factors that are driving this region are rising prevalence and awareness among the population with rising healthcare investment. Middle East & Africa is projected to witness the considerable growth of the market attributed to increasing therapeutic tourism industry, rising surgical methods for ceaseless infections, rising needs with low prevalence and great repayment situations.
Market players of powered surgical instrument are focusing on product development and providing distinct at competitive prices especially in developing countries. Manufacturers are expanding their product portfolios by adopting key strategies such as mergers, acquisition, and partnerships. The players profiled in the report are AlloTech Co. Ltd., CONMED Corporation, Medtronic plc, Stryker Corporation, Zimmer Biomet, adeor medical AG, Smith & Nephew plc, B. Braun Melsungen AG, and MicroAire Surgical Instruments, LLC., GEISTER Medizintechnik GmbH and among others.
Market By Product
Market By Power Source
Market By Application
Market By Geography
Powered surgical instrument is a market of technological instruments used to assist at the time of performing neurological and orthopedic surgery.
The dominance of chronic disease and growing geriatric population due to rising awareness regarding healthcare among population are main driver of the powered surgical instrument market.
According to Acumen Research And Consulting, the powered surgical instrument market value is anticipated to be worth around US$ 2,900 million in 2026.
The powered surgical instrument market is anticipated to grow over 4% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for powered surgical instrument market.
Asia Pacific is projected to grow at a fast pace during forecast period in the powered surgical instrument market.
AlloTech Co. Ltd., CONMED Corporation, Medtronic plc, Stryker Corporation, and Zimmer Biomet are the top players operating in the powered surgical instrument market.