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Emerging Powered Surgical Instruments Market Trends: Powered Surgical Instrument Market's Tech Innovation Trend Shaping the Future of the Industry
Powered Surgical Instruments
Powered Surgical Instruments Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a consistent growth in the market size of powered surgical instruments. The market, which is expected to rise from $2.36 billion in 2024 to $2.45 billion in 2025, predicts a compound annual growth rate (CAGR) of 3.7%. This growth observed in the historic period is influenced by factors such as the development of minimally invasive surgery (MIS), surge in chronic illnesses, increasing popularity of electrosurgery, orthopedic procedures, and the support from regulatory bodies.
How Will the Powered Surgical Instruments Market Size Evolve and Grow by 2029?
Anticipations are high for a robust expansion in the powered surgical instruments market in the near future. Projections predict the market will escalate to a value of $3.11 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.2%. This anticipated surge during the forecast period can be credited to the expanding horizon of robotic-assisted surgeries, demands for precision and control, an escalating global elderly population, neurological and spinal procedures, as well as efficacy and cost efficiency. Pivotal trends in this period are anticipated to encompass the amalgamation of AI and robotics, instruments that operate wirelessly and are powered by batteries, custom-made instrumentation kits, emphasis on ergonomics, and amplified visualization tools.
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What Drivers Are Propelling the Growth of Powered Surgical Instruments Market Forward?
The anticipated surge in surgical operations is predicted to boost the growth of the powered surgical instrument market. Surgery is a medical domain that focuses on treating diseases, injuries, or conditions through operative means. Surgical procedures often utilize powered surgical instruments which simplify tasks such as sawing and drilling, thereby improving efficiency and consistency. For instance, data from the American Society of Plastic Surgeons (ASPS) in June 2024 revealed that liposuction was the favored plastic surgery in 2023, with about 350,000 procedures undertaken; this marked a 7% rise from 2022. Meanwhile, hand surgeries numbered at 207,887, reflecting a 2% increase, and maxillofacial surgeries amounted to 52,868, indicating a 1% increase relative to the past year. Hence, the escalating count of surgical operations is invigorating the powered surgical instrument market.
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What Are the Key Trends Driving Powered Surgical Instruments Market Growth?
Technological advancements are becoming a significant trend in the powered surgical instrument industry. Leading companies in this space are unveiling revolutionary products driven by cutting-edge technologies to maintain their market stand. For instance, Sight Sciences, a U.S. medical device company, introduced the SION surgical tool specifically for craniotomies in August 2022. The innovative product uses bladeless technology and it's a manually operated, micro-engineered, and precision-manufactured device created to excise diseased tissue without the need for cutting.
What Are the Key Segments in the Powered Surgical Instruments Market?
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
Subsegments:
1) By Handpiece: Electric Handpieces, Pneumatic Handpieces, Battery-Powered Handpieces
2) By Power Source And Control: Electric Power Units, Pneumatic Power Sources, Control Systems
3) By Accessories: Attachments and Tips, Battery Packs, Maintenance And Cleaning Tools
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Who Are the Key Players Shaping the Powered Surgical Instruments Market's Competitive Landscape?
Major companies operating in the powered surgical instruments market include Johnson and Johnson Inc., Medtronic PLC, Becton inson 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.
What Geographic Markets Are Powering Growth in the Powered Surgical Instruments Market?
North America was the largest region in the powered surgical instruments market in 2024. 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
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