Powered Surgical Instruments Market

Report Description
Table of Contents

Report Description

The global powered surgical instruments market size is estimated to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. Increase in the number of surgical processes is a key driver for the growth of the global powered surgical instruments market. Additionally, growth in healthcare expenditure worldwide and technical inventions such as surgical robotics in the powered surgical instruments market are some of the other drivers propelling the market growth. Nevertheless, lack of knowledge regarding powered surgical instruments among developing economies and inadequate quality guarantee of the instruments are expected to restrain the global market growth.

By Product

Based on product, the market is segmented into power source and control system, handpiece surgical instruments, and power accessories. In 2021, the handpiece surgical instruments segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to various advantages offered by this segment namely lightweight frames, higher power, better effectiveness, and user-friendliness over other instruments worldwide. Power source and control system segment projected to grow at a profitable CAGR during the forecast period. This is attributed to various beneficial factors such as government backing in certain countries, favourable compensation systems, and growth in inclination for minimally invasive surgical processes.

By Application

Based on application, the market is segmented into ENT, cardiovascular, orthopaedic, neurosurgery, plastic surgery, and others. In 2021, the orthopaedic segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to increase in geriatric population alongside the growing incidence of accidents & bone diseases worldwide. Plastic surgery segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increasing awareness regarding the plastic surgery options, rise in social media effect in favour of plastic surgeries, and an upsurge in the number of road accidents globally.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the favourable repayment policies, increase in the share of healthcare expenditure in the per capita income, growth in initiatives from government, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and availability of skilled labour forces at economic costs, are the major factors in this region.

Competitor Insights

Some of the key players in the powered surgical instruments market are B. Braun Melsungen AG (Germany); CONMED Corporation (U.S.); Johnson & Johnson (U.S.); Medtronic, Inc. (U.S.); Stryker Corporation (U.S.); Smith & Nephew (U.K.); Zimmer Holdings (U.S.); aedor medical AG (Germany); Smith and Nephew PLC (U.K.); and Spark Therapeutics, Inc. (U.S.). The leading players operating in the powered surgical instruments industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from . The powered surgical instruments market report is categorized into the following segments and subsegments: