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Powered Surgical Instruments Market Competitive Landscape, Key Drivers, Major Players, Outlook And Forecast To 2033
Powered Surgical Instruments Market Overview
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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