Global Powered Surgical Instruments Market to Witness Robust Expansion throughout the Forecast 2018-2026
Global Powered Surgical Instruments Market was valued US$ 2.03 Bn in 2017 and is expected to reach US$ 3.01 Bn by 2026, at a CAGR of 5.05% during a forecast period.
The powered surgical instruments market is segmented into the power source, product, application, and region.
In terms of power source, global powered surgical instruments market is segmented into electric instruments, battery-powered instruments, and pneumatic instruments. Based on product, global powered surgical instruments market is divided into handpieces, power sources & controls, and accessories. Further application, global powered surgical instruments market is split into orthopedic surgery, oral & maxillofacial surgery, neurosurgery, ENT surgery, cardiothoracic surgery, and plastic & reconstructive surgery.
Based on regions, the global powered surgical instruments market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Based on a power source, electric instruments segment accounted for the largest share of the market due to the low prices of electric instruments, and their applications in orthopedic surgery, oral surgery, ENT surgery, neurosurgery, plastic and reconstructive surgery, and cardiothoracic surgery. However, the battery-powered surgical instruments segment is expected to grow at the highest CAGR in the market during the forecast period. Pneumatic power sources is used for compressed gases such as carbon dioxide, nitrogen, or compressed air.
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On the basis of product, handpieces market is further segmented into drill systems, saw systems, reamer systems, staplers, shavers, wire & pin drivers, and others. Likewise, the power source and control market is segmented into batteries, electric consoles, and pneumatic regulators. The accessories market is sub-segmented into surgical accessories, electrical accessories, and other accessories.
Further application, powered ENT surgical instruments market are witnessing significant growth owing to increase in the geriatric population, a prevalence of chronic sinusitis, ear, and throat infections and increasing awareness among the population.
Surgical care is important to treat a medical condition such as a disease or injury to repair broken areas or to improve bodily function or appearance. Powered surgical instruments are used for cutting, sawing, reaming and to perform many functions during surgery particularly involving hard tissue like bone or teeth. The increase in the volume of surgeries around the world due to chronic medical conditions has augmented the growth of the market.
Increased healthcare spending, the growing prevalence of lifestyle diseases, fast growth in aging population, the rising volume of surgical procedures, and rising accessibility of healthcare facilities are propelling the market growth of global powered surgical instruments market.
The major restraining factors of global powered surgical instruments market are lack of adequate sterilization processes, insufficient quality assurance, reducing costs, and standard of quality assurance is improper, also inadequate reimbursement policies.
The opportunity of global powered surgical instruments market is growing medical tourism in developing countries.
In terms of region, North America emerged as the largest market for powered surgical instruments market and it accounted for the most market share of total revenue due to rising volume of orthopedic, dental, oral, neurological, cardiovascular surgeries. The growing incidence of chronic musculoskeletal disorders in geriatric population and implementation of powered surgical instruments in treatment and diagnosis is expected to augment the growth of medical powered surgical instruments market in North America in the forecast period.
The key players in the global powered surgical instruments market include B. Braun Melsungen Ag, Medtronic, Inc., Johnson and Johnson, Stryker Corporation, Conmed Corporation, Smith and Nephew PLC, Microaire Surgical Instruments, Inc., Peter Brasseler Holdings, LLC, Zimmer Holdings, and Desoutter Medical Ltd.
The scope of Global Powered Surgical Instruments Market:
Global Powered Surgical Instruments Market, by Power Source:
• Electric Instruments
• Battery-Powered Instruments
• Pneumatic Instruments
Global Powered Surgical Instruments Market, by Product:
• Handpieces
• Power Sources And Controls
• Accessories
Global Powered Surgical Instruments Market, by Application:
• Orthopedic Surgery
• Oral And Maxillofacial Surgery
• Neurosurgery
• Ent Surgery
• Cardiothoracic Surgery
• Powered Surgical Instruments Market
• Others
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Global Powered Surgical Instruments Market, by Region
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operating in Global Powered Surgical Instruments Market:
• B. Braun Melsungen Ag
• Medtronic, Inc.
• Johnson and Johnson
• Stryker Corporation
• Conmed Corporation
• Smith and Nephew PLC
• Microaire Surgical Instruments, Inc.
• Peter Brasseler Holdings, LLC.
• Zimmer Holdings
• Desoutter Medical Ltd.