Global Powered Surgical Instruments Market – Industry Analysis and Forecast (2019-2026)
Global Powered Surgical Instruments Market was valued US$ XX Bn in 2018 and is expected to reach US$ 3.01 Bn by 2026, at a XX % CAGR of around during a forecast period. Surgical care is important to treat a medical condition such as a disease or injury to repair broken areas or to improve bodily function or appearance. Powered surgical instruments are used for cutting, sawing, reaming and to perform many functions during surgery particularly involving hard tissue like bone or teeth. The increase in the volume of surgeries around the world due to chronic medical conditions has augmented the growth of the market. Increased healthcare spending, growing prevalence of lifestyle diseases, fast growth in the aging population, rising volume of surgical procedures, and rising accessibility of healthcare facilities are propelling the market growth of global powered surgical instruments market. Moreover, the Opportunity of a global powered surgical instruments market is growing medical tourism in developing countries. The major restraining factors of global powered surgical instruments market are lack of adequate sterilization processes, insufficient quality assurance, reducing costs, and standard of quality assurance is improper, also inadequate reimbursement policies. Based on the power source, electric instruments segment accounted for the largest share of the market because of the low prices of electric instruments, and their applications in orthopedic surgery, oral surgery, ENT surgery, neurosurgery, plastic and reconstructive surgery, and cardiothoracic surgery. However, the battery-powered surgical instruments segment is expected to grow at the highest CAGR in the market during the forecast period. Pneumatic power sources are used for compressed gases such as carbon dioxide, nitrogen, or compressed air. By product, the handpieces market is further segmented into drill systems, saw systems, reamer systems, staplers, shavers, wire & pin drivers, and others. Likewise, the power source and control market is segmented into batteries, electric consoles, and pneumatic regulators. The accessories market is sub-segmented into surgical accessories, electrical accessories, and other accessories. Further application, powered ENT surgical instruments market are witnessing significant growth owing to an increase in the geriatric population, prevalence of chronic sinusitis, ear, and throat infections and increasing awareness among the population. Region-wise, North America emerged as the largest market for powered surgical instruments market and it accounted for the most market share of total revenue due to the rising volume of orthopedic, dental, oral, neurological, cardiovascular surgeries. The growing incidence of chronic musculoskeletal disorders in the geriatric population and implementation of powered surgical instruments in treatment and diagnosis is expected to augment the growth of medical powered surgical instruments market in North America in the forecast period. The objective of the report is to present a comprehensive analysis of the Global Powered Surgical Instruments Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Powered Surgical Instruments Market dynamics, structure by analyzing the market segments and project the Global Powered Surgical Instruments Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Powered Surgical Instruments Market make the report investor’s guide.