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Powered Surgical Instruments Market 2024 - By Share, Current Trends, Opportunities, Growth Size And Forecast To 2033
Powered Surgical Instruments Market
Powered Surgical Instruments Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2.94 billion In 2028 At A CAGR Of 4.9%.
The powered surgical instruments market size has grown strongly in recent years. It will grow from $2.29 billion in 2023 to $2.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to minimally invasive surgery (mis) evolution, growth in chronic diseases, rise of electrosurgery, orthopedic procedures, regulatory support.
The powered surgical instruments market size is expected to see steady growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to robotic-assisted surgery growth, demand for precision and control, global aging population, neurology and spinal procedures, cost efficiency and effectiveness. Major trends in the forecast period include integration of ai and robotics, wireless and battery-powered instruments, specialized instrumentation sets, focus on ergonomics, enhanced visualization tools.
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Powered Surgical Instruments Market Major Segments
The powered surgical instruments market covered in this report is segmented -
1) By Product: Handpiece, Power Source And Control, Accessories
2) By Power Source: Electric Instruments, Battery-Powered Instruments, Pneumatic Instruments
3) By Application: Orthopedic Surgery, Oral And Maxillofacial Surgery, Neurosurgery, ENT (Ear Nose Throat) Surgery, Plastic And Reconstructive Surgery, Cardiothoracic Surgery, Other Applications
Key Driver - Surge In Surgical Procedures Boosts Powered Surgical Instruments Market
The rise in the number of surgical procedures is expected to propel the growth of the powered surgical instruments market going forward. Surgery refers to a medical specialty and branch of medicine that involves the treatment of diseases, injuries, or conditions through operative procedures. These surgeries use powered surgical instruments to simplify functions such as sawing and drilling to improve efficiency and consistency. For instance, in April 2022, according to the Aesthetic Society, a US-based industry organization of plastic surgeons, surgical aesthetic procedures increased by 54% in 2021 as compared to 2020. On average, a surgeon performed 320 procedures in 2021, up from 220 procedures in 2020. Therefore, the increasing number of surgical procedures is driving the powered surgical instrument market.
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Prominent Trend - Powered Surgical Instrument Market's Tech Innovation Trend
Technological innovations are a key trend gaining popularity in the powered surgical instrument market. Major companies operating in the powered surgical instruments market are introducing innovative products based on advanced technologies to sustain their position in the market. For instance, in August 2022, Sight Sciences, a US-based medical device manufacturer, launched the SION surgical instrument for craniotomies. The new product is based on bladeless technology. It is a manually operated device that is micro-engineered and precision-manufactured to remove diseased tissue without cutting.
Powered Surgical Instruments Market Players
Major companies operating in the powered surgical instruments market report are Johnson and Johnson Inc., Medtronic PLC, Becton Dickinson and Company (BD), Stryker Corporation, B. Braun Melsungen AG, Olympus Corporation, Zimmer Biomet Holdings Inc., Smith and Nephew PLC, Hologic Inc., CooperSurgical Inc., Karl Storz SE and Co. KG, Arthrex Inc., Integra LifeSciences Holdings Corporation, ConMed Corporation, Exactech Inc., Richard Wolf GmbH, NuVasive Inc., Peter Brasseler Holdings LLC., Panther Medical Equipment Co. Ltd., MicroAire Surgical Instruments LLC, Misonix Inc., De Soutter Medical Ltd., KLS Martin Group, Encision Inc., AlloTech Co. Ltd., Adeor Medical AG, Surtex Instruments Limited, Alesi Surgical Ltd., ECA Medical Instruments, Ceterix Orthopaedics Inc
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Largest And Fastest Growing Region In The Market
North America was the largest region in the powered surgical instruments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the powered surgical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Powered Surgical Instruments Market Report Structure
3. Powered Surgical Instruments Market Trends And Strategies
4. Powered Surgical Instruments Market - Macro Economic Scenario
5. Powered Surgical Instruments Market Size And Growth
…..
27. Powered Surgical Instruments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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