The global market for hand-held surgical instruments was capitalized at USD 4.1 billion in 2019 and is predicted to show a 7.5% CAGR over the years to come, as per Zion Market Research. Increasing occurrence of chronic diseases such as cardiovascular, neurological, urological, and infectious diseases is predicted to power the market.
Some of the major companies in the market are B. Braun Melsungen AG; Integra LifeSciences Corporation; Zimmer Biomet Holdings; Medtronic; Becton, Dickinson and Company; Johnson & Johnson; Smith & Nephew; Aspen Surgical; CooperSurgical Inc.; and Thompson Surgical Instruments Inc.
Cardiovascular Disorders Resulting In The Growth Of Global Market For Hand-Held Surgical Instruments
Almost 12 out of every 100 users die owing to neurological diseases, as per the World Federation of Neurology. Cardiovascular disorders are also resulting in an elevation in number of heart operations. For example, CABG (coronary artery bypass grafting) is a normal surgery to unclog the coronary artery. Rising elevation of these diseases has resulted in development of treatments and therapies, therefore resulting in increase in requirement for handheld surgical instruments.
Users aged 60 and more are at an elevated danger for diseases such as orthopedic, cardiovascular, and neurological disorders. Hence, rise in elderly population is predicted to power requirement for handheld surgical equipment. Moreover, increase in number of road collisions is a high-impact hampering factor.
By Rising Cases Of Chronic Diseases To Power Global Market Growth In North America
In 2019, North America ruled the global market, powered by rising cases of chronic diseases such as neurological diseases, cardiovascular diseases, diabetes, cancer, and autoimmune diseases. As per the World Bank, almost 4,511 surgeries per 100,000 people were conducted in US in 2015. This is a factor that has operated in support of the North American market.
As per WHO, the load of non-communicable disorders is maximum in Europe and is predicted to develop at a high pace in coming period. As per the Annual Accident Report 2017 by European Road Safety Observatory, more than 1,079,720 road accidents were clocked in 2015. With increasing number of surgical operations, requirement for surgical tools is increasing in the region.
Increasing elderly population is one of the primary factors powering the market in Asia Pacific. As per the report of 2015 for National Census, almost 26.7% of the overall population in Japan is aged more than 65, resulting to high occurrence of chronic diseases in the nation.
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The global hand-held surgical instruments market is segmented as follows:
- Plastic & Reconstructive Surgery
- Obstetrics & Gynecology
- Ambulatory Surgical Centers
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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