Global Powered Surgical Instruments Market - Segmented by Type of, Product and Application - Growth, Trends and Forecasts (2018 - 2023)
The Global Powered Surgical Instruments Market has been estimated to reach USD 1.83 billion in 2017.The market is expected to register a CAGR of 3.6% during the forecast period 2018 to 2023. North America dominates the market due to the presence of healthcare established facilities in that region. Increasing Number of Surgical Procedures Power surgical instruments have received attention in the recent years, with NASA’s Jet Propulsion Laboratory (JPL) in Pasadena, California, introducing the next generation of high-tech surgical instruments to remove tumors and treat other brain abnormalities. According to estimates published by Ethicon Endo in 2013, nearly 850 surgical procedures took place, out of which nearly 800 were minimally invasive procedures. Increasing volumes of surgical procedures coupled with technological advancements, such as the introduction of robot assisted surgical procedures, is expected to drive the growth of the powered surgical instrument market.
Aforementioned medical conditions lead to the increasing number of surgical procedures to be performed. With advancement in medical tourism is expected to positively reinforce the powered surgical instruments market over the next six years. In addition, increase in geriatric population worldwide, and growing prevalence of the lifestyle disease are also fuelling powered surgical instruments market. Lack of Sterilization Procedure According to Centers for Disease Control and Prevention (CDC) in the United States 5 million gastrointestinal endoscopies are performed per year. Each of these procedures involves the contact by a surgical device with a patient’s sterile tissue or mucous membrane. A major risk of all such procedures is entry of pathogenic microbes in the patient’s body which can lead to infection. So, the lack of sterilization procedure is acting as a restraint for Powered Surgical Instruments Market. Lack of reimbursement, along with the high cost of the same and inadequacy of skilled professionals are restraining the growth of the market.
North America to Dominate the Market The Powered Surgical Instruments market is segmented by power source, product type, application type, and geography. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America. North America dominates the power surgical instruments market due to the presence of well-established healthcare facilities and the rise in geriatric population in the country. Asia-Pacific is also expected to propel the powered surgical instruments market owing to factors, such as increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing prevalence of chronic diseases with requirement for surgical procedures.
Key Developments in the Market
• October 2017, Aesthetx is a medical and cosmetics firm which is using power tools from Rhinoplasty which ensures minimum soft tissues damage. This procedure is called as Piezo technique in which Piezo is an equipment which cuts the bone and recognizes soft tissues.
JOHNSON & JOHNSON, B. BRAUN MELSUNGEN AG, STRYKER CO., MEDTRONIC INCORPORATED, SMITH & NEPHEW, CONMED CO., DESOUTTER MEDICAL LTD, and ZIMMER HOLDINGS.
REASONS TO PURCHASE THIS REPORT
• Current and future Powered Surgical Instrument Market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The treatment type that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet in excel.
CUSTOMIZATION OF THE REPORT
• This Global Powered Surgical Instruments Market Research Report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Published By: Mordor Intelligence
Published Date: Q1 2018