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Powered Surgical Instruments Market to Reap Excessive Revenues by 2020
The research report also provides an overview of the global powered surgical instrument market, including product segmentation and competitive analysis. The report makes use of analytical tools such as Porter’s five forces analysis, SWOT analysis, and value chain analysis to provide detailed quantitative and qualitative analysis of the global powered surgical instruments market landscape. It also includes strategic recommendations from industry experts, which can be incorporated in the business strategies of major players in the powered surgical instruments market.
A powered surgical instrument is a precisely designed implement used for a particular procedure during surgery. Power sources for powered surgical instruments are either pneumatic or electrical, the latter of which includes batteries and line current. Pneumatic power sources make use of compressed gases such as carbon dioxide, nitrogen, or compressed air.
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The global powered surgical instrument market is anticipating substantial growth due to innovative technological advancements. For example, innovation of surgical robotics has significantly propelled market growth. Powered surgical instruments are mostly used in ophthalmic, orthopedic, and cardiac surgical procedures. The increasing prevalence of chronic diseases such as cancer, orthopedic conditions, cardiovascular diseases, and neurological diseases also necessitates surgical interventions.
Major driving factors for the growth of the global powered surgical instrument market include medical tourism, increased healthcare spending, growing prevalence of lifestyle diseases, rising volume of surgical procedures, and rising accessibility of healthcare facilities around the world. On the other hand, lack of adequate sterilization processes, insufficient quality assurance, and continuous pressure on healthcare providers for reducing costs are expected to hamper the growth of this market.
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Geographically, North America is expected to dominate the global market, followed by Europe, due to the growing aging population in both regions, favorable regulatory guidelines, high disposable income, and acceptance of innovative technologies. Asia Pacific has optimistic growth prospects in the near future due to growing prevalence of the same factors.
The global powered surgical instruments market is highly fragmented owing to the large number of established and new players operating in the market. The market research report covers some of the key players operating in the global powered surgical instruments market, including Zimmer Holdings Inc., Conmed Corporation, Stryker Corporation, Medtronic Inc., Alcon Laboratories Inc., MicroAire, Carefusion Corporation, KLS martin group, Smith & Nephew PLC, and Ethicon Inc.
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