by The global Powered Surgical Instruments Market is estimated to be valued at US$ 2,147.6 million in 2023 and is expected to exhibit a 3.0% CAGR over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Powered surgical instruments are medical devices used in various surgical procedures to cut soft tissues and bones. These instruments provide control, speed and accuracy during surgery and help reduce risks of contamination. Their usage has increased in orthopedic, neurological and ENT surgeries.
Market key trends:
The adoption of powered surgical instruments is growing steadily owing to various advantages over conventional instruments such as control, precision and improved ergonomics. battery-powered instruments allow cordless operation and offer more flexibility compared to corded electric tools. They are convenient for minimal invasive techniques and reduce operating time which benefits patients and hospitals. their usage has increased in ambulatory surgical centers and office-based settings.
Segment Analysis
The powered surgical instruments market is segmented by product, application, end user, and geography. Based on product, the market is segmented into handpieces, power sources and controls, and accessories. Among these, handpieces accounted for the largest share in 2019. Handpieces are widely used during surgical procedures and dominate the powered surgical instruments market due to higher demand.
Key Takeaways
The global Powered Surgical Instruments Market Growth is expected to witness high growth, exhibiting a CAGR of 3.0% over the forecast period, due to increasing number of surgical procedures worldwide.
The market size was valued at US$ 2,147.6 million in 2019 is expected to reach US$ 2,800.7 million by 2027.
Regional analysis
Regionally, North America dominated the global powered surgical instruments market in 2019 and is expected to continue its dominance over the forecast period. This is attributed to factors such as technological advancements, higher healthcare expenditure, and increasing prevalence of chronic diseases in the region. The Asia Pacific region is expected to exhibit the fastest growth over the forecast period owing to growing medical tourism, improving healthcare infrastructure, and rising healthcare expenditure in the region.
Key players
Key players operating in the powered surgical instruments market are Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., MicroAire Corporation, Medtronic Plc, KLS Martin L.P., DePuy Synthes, Smith & Nephew, Arthrex, Inc, and B. Braun Melsungen AG. Stryker Corporation dominated the global powered surgical instruments market in 2019 due to its robust product portfolio and widespread geographic presence across major markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
