Global Powered Surgical Instrument Market is valued at approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.41% over the forecast period 2022-2029. Powered Surgical Instrument are tools used at the time of patient’s surgery in healthcare industry. The purpose of using these instruments is to diminish the hour of surgical procedures and provide consistent function and high performance. The Powered Surgical Instrument market is expanding because of factors such as the increasing number of surgical procedures, the increasing geriatric population and the growing prevalence of lifestyle diseases. This market is majorly dominated by Stryker Co., B. Braun Melsungen Ag, Medtronic Incorporated, Smith & Nephew, Johnson & Johnson, Conmed Co., Desoutter Medical Ltd, and Zimmer Holdings.
The growth in geriatric population seems to suffer from various diseases which can’t be treated easily just from oral medicine and require surgical treatment. As well as Diseases caused by unhealthy lifestyle such as heart disease and osteoporosis can be treated by surgery. To perform these surgeries, it is necessary to have powered surgical instruments/tools. For instance, according to a research study which was published in September 2020 titled “Establishment of National Surgical Needs in India by Listing Surgical Procedures in Urban Communities under Universal Health Coverage”. The reported rate of surgery in low- and middle-income countries is 295 per 100,000 people, compared with up to 23,000 surgeries per 100,000 people in high-income countries which shows high demand for these surgical procedures will positively impact the powered surgical instruments market. Moreover, the technological advancement of powered surgical instruments is expected to increase the opportunity for this significant market in the forthcoming years. However, the reimbursement challenges, inadequately skilled professionals, and lack of sterilization procedures stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Powered Surgical Instrument Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the region’s increasing disease prevalence. According to statistics from the American Heart Association released in January 2019, nearly half of the US population has cardiovascular diseases, including hypertension, coronary heart disease, and so on. The prevalence of heart disease is creating a need for cardiovascular surgery, which has been driving the market. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising target geriatric populations and chronic disease, an increase in the number of biosimilar developments, an increase in surgical procedures, active support of government and nonprofit organizations in the market space.
Major market player included in this report are:
Smith & Nephew PLC
De soutter Medical Ltd
Johnson & Johnson Pvt Ltd.
B. Braun Melsungen Ag
Adeor Medical AG
MicroAire Surgical Instruments
Recent Developments in the Market:
In August2021, Panther Healthcare released its Smart Powered Stapler technology platform that provides intelligent and automated control over compression, transection, and tissue ablation for gastrointestinal surgical procedures (including obesity), thoracic, colorectal, oncology, gynaecological and other open laparoscopic surgical processes. The device has been released in Europe, the Middle East, Africa, Asia and Latin America.
In March 2021, Ethicon announced the global launch of the ECHELON+ stapler with GST Reload. This is a new powered surgical stapler anticipated to increase staple line security and diminish variables manifested by further consistent tissue compaction and better staple formation.
Global Powered Surgical Instrument Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Power Source, Product Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Power Source:
By Product Type:
Rest of the World