The global powered surgical instruments market size was valued at USD 11.32 billion in 2022 and predicted to worth USD 15.70 billion by 2027, growing at a CAGR of 6.77% between 2022 to 2027.
A powered surgical instrument is a device designed especially for a specific procedure during surgery. Conventional surgery involves a large incision and causes a lot of trauma to soft tissues, which are present in the areas of injury. Minimally invasive procedures achieve the same goal and decrease the trauma by small incisions themselves. Surgeries, including orthopedic procedures, ENT surgeries, complex spine surgeries, and neurosurgeries, can be treated using minimally invasive techniques. Conditions related to joint replacement, arthroscopic repairs of sports injuries, and microscopic treatment of musculoskeletal conditions are complex in nature and use minimally invasive techniques. This would subsequently push vendors to introduce more variants of powered surgical instruments used in minimally invasive procedures.
MARKET DRIVERS:
Factors such as the demand for minimally invasive surgery, the number of global surgical operations, and a growing global population are projected to drive the powered surgical instruments market.
The proliferation of lifestyle conditions expanded healthcare regionally, and increased exposure to healthcare are all significant growth contributors. The government takes initiatives to raise public consciousness about healthcare by promoting medical tourism, which positively impacts market growth. Electrically driven devices, such as electrosurgical systems, make surgical procedures more available in ambulatory surgical centers (ASCs) or hospitals without the need for a dedicated hospital setting. In Asia-Pacific, this sector is rapidly becoming a growth hub. The booming medical tourism industry, rising unmet healthcare needs, and the prevalence of chronic diseases that necessitate surgical procedures drive up growth in this region.
During the forecast period, the global powered surgical instruments market is expected to be propelled by the increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and bone-related disorders and an increase in surgical procedures. Powered surgical instruments are complicated devices that aid in the reliability and accuracy of vital surgical procedures. Advancements in technologies and innovations in robotic surgeries have rapidly influenced the market growth. Powered instruments come in various shapes and sizes, allowing surgeons and medical personnel to choose the best instrument for surgical procedures. In addition, the increased use of traditional surgeries has resulted in a huge market for new surgical instruments and techniques.
MARKET RESTRAINTS:
However, the market is constrained by factors like inadequate quality assurance, lack of adequate sterilization processes, and rising pressure on healthcare providers to reduce costs. Additionally, rising cost-cutting pressure on healthcare providers, insufficient sterilization procedures, and inadequate quality assurance could impede the market over the forecast period. Unfavorable reimbursement programs, inadequately skilled professionals and inefficient resources for the instruments, and lack of awareness may lead to the market downfall.
Impact of COVID-19 on the global powered surgical instruments market:
The SARS-COV-2 is a contagious disease which is caused by the recent novel coronavirus. The disease has affected the market in many ways, such as production and distribution. The manufacturing and life sciences industries had a negative impact during the first quarter of 2020. Due to the surge in the COVID-19 across the world, the nationwide lockdown has been implementing and imposing a ban on flights. The COVID-19 had negatively impacted the powered surgical instrument market during the first quarter. The manufacturing of the powered surgical devices was also partially stopped and postponed due to stringent guidelines. The powered surgical market has its supply globally, but the supply chain had been disrupted due to the ban on transportation. However, the powered surgical instruments recorded significant growth over the forecast period owing to the rising demand for the powered surgical instruments. Powered surgical instruments have accelerated during the pandemic period due to the proliferation of chronic diseases such as cardiovascular diseases, cancer, bone-related disorders, and diabetes. However, the market is anticipated to record better growth during the forecast period.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 to 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Covered |
By Application, Power source, Product and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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 |
This market research report on the global powered surgical instruments market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2027.
Powered Surgical Instruments Market - By Application:
Based on the application, the orthopedic surgery segment dominated the powered surgical instruments market in 2020. the segment growth is driven by and proliferation of accidents and bone diseases, increasing the geriatric population across the world.
On the other hand, plastic surgery is on the rise due to increased understanding of these options, social media influence in favor of cosmetic treatments, an increase in the rate of traffic accidents, and an aging population.
Powered Surgical Instruments Market - By Power Source:
Based on the power source, the battery-powered instrument segment had the highest market share in 2020, with a dominant market share, and is expected to expand substantially over the forecast period. The demand for battery-powered instruments is cordless, reliable, lightweight, and rechargeable, and they provide comfort during surgeries.
Powered Surgical Instruments Market - By Product:
Based on the product, the handpiece instruments market accounted for the largest market share over the forecast period and held over 40% market share. However, the segment is anticipated to continue its growth during the forecast period. It is owing to beneficial features such as higher power, lightweight, battery efficiency, and ease of use over the instruments. The handpiece instruments are often divided into three categories: batteries, pneumatic instruments, and electronic frames. The accessories market is divided into two categories: electronic accessories and surgical accessories. During the projected period, the electronic category had the majority share.
Powered Surgical Instruments Market - By Region:
Geographically, the North American regional market is estimated to lead the global powered surgical instruments market, followed by Europe and Asia Pacific regions during the forecast period. North America dominated the powered surgical instruments market in 2020 and is expected to have the largest share during the forecast period. Market growth in the region is attributed to the presence of key market players and improved healthcare infrastructure. In the North American regional market, the united states holding the largest share of the powered surgical instruments market and continue to expand its growth over the forecast period. On the other hand, the Canadian surgical market is likely to contribute to the regional market.
The European market is the second-fastest-growing region in the powered surgical instrument over the years. The market is estimated to grow as increasing CAGR between 2020-2025. Technological advancements in the healthcare sector and increasing healthcare expenditure are propelling the market growth in this region. The UK and Germany are more likely to contribute a significant share of the powered surgical instrument market in the coming five years. Advancing healthcare infrastructure in the United Kingdom is driving the powered surgical instruments market.
Asia Pacific region is expected to have the fastest growth rate during the forecast period. APAC has held the highest market share of powered surgical instruments, and it is growing at a maximum pace during the forecast period. Government support through investments and activate participation of key market players are driving the market growth. Japan, China, and India are the major growth contributors in the region. China recorded the highest market share of powers surgical instrument market over the forecast period. Availability of advanced healthcare facilities and increasing investments are upsurging the market growth. The Indian market is one of the fastest-growing regions in the Powered surgical instrument market in Asia pacific. The market growth in the country is attributed to increasing awareness, favorable reimbursement policies, and improving healthcare infrastructure.
KEY MARKET PARTICIPANTS:
Some of the prominent companies operating in the global powered surgical instruments market profiled in the report are 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.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Oral and Maxillofacial Surgery
5.1.2 Orthopaedic Surgery
5.1.3 Neurosurgery
5.1.4 ENT Surgery
5.1.5 Plastic and Reconstructive Surgery
5.1.6 Cardiothoracic Surgery
5.1.7 Y-o-Y Growth Analysis, By Application
5.1.8 Market Attractiveness Analysis, By Application
5.1.9 Market Share Analysis, By Application
5.2 Power Source
5.2.1 Battery Powered Instruments
5.2.2 Electric Instruments
5.2.3 Pneumatic Instruments
5.2.4 Y-o-Y Growth Analysis, By Power Source
5.2.5 Market Attractiveness Analysis, By Power Source
5.2.6 Market Share Analysis, By Power Source
5.3 Product
5.3.1 Power Source and Controls
5.3.1.1 Electric Consoles
5.3.1.2 Batteries
5.3.1.3 Pnematic Regulators
5.3.2 Accessories
5.3.2.1 Drills
5.3.2.2 Saws
5.3.2.3 Reamers
5.3.2.4 Shavers
5.3.2.5 Staplers
5.3.2.6 Pin Drivers
5.3.2.7 Other Accessories
5.3.3 Handpieces
5.3.3.1 Surgical Accessories
5.3.3.2 Electric Accessories
5.3.3.3 Other Handpieces
5.3.4 Y-o-Y Growth Analysis, By Product
5.3.5 Market Attractiveness Analysis, By Product
5.3.6 Market Share Analysis, By Product
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Application
6.1.3.2 By Power Source
6.1.3.3 By Product
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Application
6.1.4.2 By Power Source
6.1.4.3 By Product
6.1.5 Market Share Analysis
6.1.5.1 By Application
6.1.5.2 By Power Source
6.1.5.3 By Product
6.2 North America
6.2.1 Introduction
6.2.2 United States
6.2.3 Canada
6.3 Europe
6.3.1 Introduction
6.3.2 U.K
6.3.3 Spain
6.3.4 Germany
6.3.5 Italy
6.3.6 France
6.4 Asia-Pacific
6.4.1 Introduction
6.4.2 China
6.4.3 India
6.4.4 Japan
6.4.5 Australia
6.4.6 South Korea
6.5 Latin America
6.5.1 Introduction
6.5.2 Brazil
6.5.3 Argentina
6.5.4 Mexico
6.5.5 Rest of Latin America
6.6 Middle East & Africa
6.6.1 Introduction
6.6.2 Middle-East
6.6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 B. Braun Melsungen Ag
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Medtronic, Inc.
8.3 Johnson and Johnson
8.4 Stryker Corporation
8.5 Conmed Corporation
8.6 Smith and Nephew PLC
8.7 Microaire Surgical Instruments, Inc.
8.8 Peter Brasseler Holdings, LLC.
8.9 Zimmer Holdings
8.10 Desoutter Medical Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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