Orthopedic surgeries frequently make use of heavy power surgical tools, also known as heavy duty surgical tools, to alleviate traumatic pain. The market is expanding at a rapid rate, which is good news for companies that make medical equipment all over the world. Market players can expect good opportunities due to rising healthcare spending and the rising number of orthopedic cases worldwide, despite the continuing slowdown the industry has witnessed due to the Great Recession. These are some serious surgical instruments. Despite a 2015 valuation of over US$ 14 Bn, the industry is extremely consolidated, with a presence in all major developed markets. Companies are therefore looking to inorganic growth as a means to increase their market share. The market has enormous growth potential, with a projected CAGR of 4.6% from 2016 to 2025.
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The industry has slowed over the past 2 years, but analysts still anticipate significant growth in the coming years. Product innovation and rising consumer demand, especially in developing regions, are driving the growth of heavy power surgical tools. More than two-thirds of the world’s consumers are located in Asia and the Pacific. Additionally, there has been a notable rise in healthcare spending alongside an increase in foreign direct investment in medical devices in emerging markets. This should reduce operating costs and make it easier for established companies to cash in on emerging markets. Additionally, the growing number of elderly people and a supportive regulatory framework are anticipated to fuel market growth.
Based on the therapeutic application, the market for heavy power surgical tools market divided into:
- Orthopedic Surgeries
- ENT Surgeries
- Dental Surgeries
The therapeutic application of orthopedic surgery is anticipated to be the driving force all through the projected time period. As reported by the American Academy of Orthopedic Surgeons, more than 6.6 million orthopedic surgeries were performed in the Americas. Market opportunities are anticipated to be lucrative for the players due to the anticipated increase in the number of surgeries and the development of medical tourism in the region.
When it comes to high-powered medical equipment, North America is unrivalled. In terms of the global market, this area accounted for more than 55%. Large amounts spent on healthcare and improved facilities play a large role, but the presence of market leaders also plays a role. Compared to other regions, North America has the highest healthcare expenditures as a share of GDP. Market growth has been seen across the board for medical devices, including high-powered surgical instruments, thanks to a number of government initiatives and reimbursement policies such as Obama care.
Asia and the Pacific Region come next, then Europe. China and India are the main engines that propel the Asia-Pacific region. The population in this area represents a sizable market. The reduction of the FDI ceiling, combined with rising healthcare costs, is anticipated to open up profitable opportunities for the region’s players. The Asia-Pacific region is forecast to generate substantial demand, but the market there is notoriously unstable. Companies looking to expand their presence in the Asia-Pacific region should prioritize the development of high-powered surgical tools, as well as a more direct distribution system and lower prices.
A slowing economy is anticipated for Latin America. Brazil and Mexico will serve as the region’s primary drivers. Middle East and Africa are forecast to contribute a small share to the global market. After a slow start, these areas should begin to see positive growth as the forecast period progresses onward.
The chief market players in the market of HPST (Heavy Power Surgical Tools) include Stryker, Boston Medical, Roche, DePuy Synthes, Medtronic Inc., and Zimmer Biomet, etc. The industry is highly consolidated. Companies need to emphasize on cost competitiveness and inorganic growth to capitalize on the established market.
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The primary objective of the market’s dominant players is to increase their market share by acquiring a larger customer base. For instance, in March of 2019, the United States Food and Drug Administration (FDA) approved and made available for orthopedic surgical applications the SMARTdrill 6.0 from Smart Medical Devices, Inc., a surgical drill that limits drill and screw plunge and precisely measures depth, torque, and energy in real time.
Launching new products is also a key strategy for major market players. For instance, in the month of August of 2019, Portescap released a new portfolio of standard prototype motors for surgical applications like powered staplers; large and small bone orthopedic tools, arthroscopic shavers, ENT microdebriders, and high speed neuro drill applications.
Portescap also introduced three new surgical motors in August 2019 for use on small bones.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Heavy Power Surgical Tools Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Heavy Power Surgical Tools Industry Impact
Chapter 2 Global Heavy Power Surgical Tools Competition by Types, Applications, and Top Regions and Countries
2.1 Global Heavy Power Surgical Tools (Volume and Value) by Type
2.3 Global Heavy Power Surgical Tools (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Heavy Power Surgical Tools Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Heavy Power Surgical Tools Market Analysis
Chapter 6 East Asia Heavy Power Surgical Tools Market Analysis
Chapter 7 Europe Heavy Power Surgical Tools Market Analysis
Chapter 8 South Asia Heavy Power Surgical Tools Market Analysis
Chapter 9 Southeast Asia Heavy Power Surgical Tools Market Analysis
Chapter 10 Middle East Heavy Power Surgical Tools Market Analysis
Chapter 11 Africa Heavy Power Surgical Tools Market Analysis
Chapter 12 Oceania Heavy Power Surgical Tools Market Analysis
Chapter 13 South America Heavy Power Surgical Tools Market Analysis
Chapter 14 Company Profiles and Key Figures in Heavy Power Surgical Tools Business
Chapter 15 Global Heavy Power Surgical Tools Market Forecast (2023-2030)
Chapter 16 Conclusions
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