Powered Surgical Instrument Market Share

PORTLAND, OREGON, UNITED STATES, May 11, 2023 /EINPresswire.com/ -- According to the report, the global powered surgical instrument market was pegged at $1.94 billion in 2017 and is expected to garner $2.73 billion by 2025, registering a CAGR of 4.2% through 2025. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

The global powered surgical instrument market is expected to experience significant growth in the coming years due to the rising number of surgical procedures, increasing demand for minimally invasive surgeries, and technological advancements in surgical instruments.

The handpieces segment of the powered surgical instrument market is expected to hold the largest market share due to its wide range of applications in different surgical procedures.

North America is expected to dominate the powered surgical instrument market due to the presence of a large number of hospitals and healthcare facilities, increasing healthcare expenditure, and rising adoption of advanced surgical instruments.

Asia-Pacific is expected to witness the fastest growth in the powered surgical instrument market due to the increasing healthcare infrastructure, rising healthcare expenditure, and increasing awareness among the population regarding the benefits of minimally invasive surgeries.

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Market Drivers:

Increasing number of surgical procedures: The rising prevalence of chronic diseases and the aging population have led to an increasing number of surgical procedures globally. Powered surgical instruments are becoming increasingly popular due to their precision, speed, and efficiency, which is driving the growth of the market.

Technological advancements in surgical instruments: The development of advanced technologies such as robotics, navigation systems, and advanced imaging techniques has revolutionized the surgical field. These technologies have led to the development of more advanced and precise powered surgical instruments, which is driving the growth of the market.

Increasing demand for minimally invasive surgeries: Minimally invasive surgeries are becoming increasingly popular due to their numerous benefits such as faster recovery times, reduced pain, and reduced scarring. Powered surgical instruments are an essential component of minimally invasive surgeries, which is driving the growth of the market.

Rising healthcare expenditure: Governments worldwide are increasing their healthcare expenditure to improve healthcare infrastructure and provide better healthcare services to their citizens. This increased expenditure is driving the adoption of advanced surgical instruments, including powered surgical instruments.

Market Segmentation:

Product Type: This segment can be further divided into handpieces, power sources and accessories.

Application: The market can be segmented based on the type of surgeries in which powered surgical instruments are used, such as orthopedic surgery, neurosurgery, dental surgery, cardiovascular surgery, and others.

Technology: This segment can be divided into pneumatic, electric, and battery-operated powered surgical instruments.

End-user: The market can be segmented based on end-users, including hospitals, ambulatory surgical centers, and specialty clinics.

Geography: The market can be segmented based on geographic regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Mode of Sales: This segment can be divided into direct sales and distributor sales.

Material: The market can be segmented based on the material used for manufacturing powered surgical instruments, such as stainless steel, titanium, and others.

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Regional Growth Dynamics:

North America is expected to remain dominant throughout the forecast period due to the highly sophisticated healthcare infrastructure and high adoption rate of technologically advanced surgical tools. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to growing medical tourism in this region.

Competitive Landscape:

Stryker Corporation
Zimmer Biomet Holdings Inc.
Conmed Corporation
Medtronic plc
Johnson & Johnson
B. Braun Melsungen AG
Smith & Nephew plc
MicroAire Surgical Instruments, LLC
DePuy Synthes Companies (Johnson & Johnson)
Olympus Corporation

Recent developments:

In 2022, Stryker Corporation acquired Gauss Surgical, a developer of AI-enabled software solutions for real-time monitoring of blood loss during surgery. This acquisition is expected to complement Stryker's existing surgical portfolio and enhance its digital surgery capabilities.

In 2020, Johnson & Johnson launched its latest powered stapling platform, Echelon Powered Stapler. The platform is designed to provide surgeons with greater precision, control, and performance during surgical procedures.

In 2021, Medtronic plc announced the launch of its latest powered stapler system, Signia Stapling System. The system is designed to provide real-time feedback and analytics to surgeons during surgical procedures, enabling greater precision and control.

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