Powered Surgical Instruments Market

Global Powered Surgical Instruments Market Size (2023 to 2028)

The global powered surgical instruments market size was valued at USD 12.08 billion in 2022 and is predicted to be worth USD 16.77 billion by 2028, growing at a CAGR of 6.77% between 2023 to 2028.

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 through small incisions. Surgeries, including orthopedic procedures, ENT surgeries, complex spine surgeries, and neuro surgeries, can be treated using minimally invasive techniques. In addition, conditions related to joint replacement, arthroscopic repairs of sports injuries, and microscopic treatment of musculoskeletal conditions are complex 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 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 needing 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 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. Rising cost-cutting pressure on healthcare providers, insufficient sterilization procedures, and inadequate quality assurance could impede the market over the forecast period. Furthermore, unfavorable reimbursement programs, inadequately skilled professionals, inefficient instruments and resources, and lack of awareness may lead to the market downfall.

Impact of COVID-19 on the global powered surgical instruments market:

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 were negatively impacted during the first quarter of 2020. Due to the surge in COVID-19 worldwide, a nationwide lockdown has been implemented, and a ban on flights has been imposed. COVID-19 negatively impacted the powered surgical instrument market during the first quarter. The manufacturing of 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 has been disrupted due to the ban on transportation. However, powered surgical instruments recorded significant growth over the forecast period owing to the rising demand for powered surgical instruments. Powered surgical instruments have accelerated during the pandemic 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:

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:

• Oral & Maxillofacial Surgery
• Orthopedic Surgery
• Neurosurgery
• ENT Surgery
• Plastic & Reconstructive Surgery
• Cardiothoracic Surgery

Based on the application, the orthopedic surgery segment dominated the powered surgical instruments market in 2022. the segment growth is driven by the proliferation of accidents and bone diseases, increasing the geriatric population worldwide. In addition, the rising rates of orthopedic surgeons worldwide also support the segment's growth. 

On the other hand, plastic surgery is on the rise due to an increased understanding of these options, social media influence in favor of cosmetic treatments, increased traffic accidents, and an aging population. In addition, the rising demand for aesthetic appeal is driving the segment's growth. 

Powered Surgical Instruments Market - By Power Source:

• Battery-Powered Instruments
• Electric Instruments
• Pneumatic Instruments

Based on the power source, the battery-powered instrument segment had the highest market share in 2022, 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, providing comfort during surgeries.

However, electric instruments are steadily gaining popularity during the forecast period due to the advantages of using a high-frequency electric current to cut the coagulation tissue, which helps reduce blood loss significantly during surgery. Therefore, this procedure is used when there is continuous blood loss, and there is a need to reduce the loss of blood. 

Powered Surgical Instruments Market - By Product:

• Power Source & Controls
• Accessories & Handpieces

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. Among these, the electronic segment had the significant share during the forecast period. 

However, the power source and controls segment is expected to be right behind the handpieces segment with many new adoptions of powered surgical instruments. In addition, the rising demand for the market is encouraging more healthcare facilities to adopt the instruments, thus leading to more requirements for power sources and controls while setting up new devices.  

Powered Surgical Instruments Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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 holds 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 has been the second-fastest-growing region in powered surgical instruments over the years. The market is estimated to grow with an 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 significantly to 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, growing at a maximum pace during the forecast period. Government support through investments and active participation of key market players drive market growth. Japan, China, and India are the major growth contributors in the region. China recorded the highest market share of power surgical instrument market over the forecast period. The availability of advanced healthcare facilities and increasing investments upsurge 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.

RECENT MARKET HAPPENINGS:

• In August 2021, To develop powered neurosurgical drill solutions, clear point neuro and adeor medical joined in a strategic business partnership. The companies have individual fields of expertise; the precise point is a therapy-enabling platform, and adeor is a german expert on surgical equipments. Therefore, to understand the requirements of therapeutics and the instrumentation for the same, a commercial partnership occurred to benefit both companies. 
• In October 13, 2022, Nervo nabs, a global medical device company, developed a spinal cord stimulation system called Senza HFX iQ, which has been approved by the FDA and is ready for a limited launch starting next week till the end of the year. The device is a neurosurgical pain relief device that is automatic and does not need to be manually adjusted. The device gives inputs on the intensity of treatment based o its assessments of the patients making pain relief more efficient than ever.