In 2022, the global Powered Surgical Instruments Market reached a size of USD 1.9 billion and is anticipated to achieve a 7.8% revenue Compound Annual Growth Rate (CAGR) over the forecast period, as indicated by the most recent report from Reports and Data.
The market is currently witnessing an increase in revenue due to advancements in powered surgical equipment, such as robotic systems and navigation tools. The demand for minimally invasive surgical procedures is on the rise due to their numerous advantages, including shorter hospitalization periods, quicker recovery times, and reduced complication rates. Additionally, the growing prevalence of chronic illnesses such as cancer and cardiovascular disorders is contributing to the expansion of market revenue. According to the World Health Organization’s 2040 projections, there will be an additional 29.5 million cancer cases worldwide, leading to an increased number of individuals seeking surgical interventions and powered surgical equipment.
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A noteworthy trend in the powered surgical instruments market is the increasing adoption of robotic surgery. Robotic surgery offers various advantages, including improved precision, reduced blood loss, and faster recovery. Another factor fueling the growth of market revenue is the utilization of navigation systems that aid in precise implant placement. Furthermore, disposable powered surgical instruments are gaining popularity due to their benefits, including a reduced risk of infection and cost-effectiveness. The expansion of market revenue is further supported by the deployment of powered surgical instruments in ambulatory surgical centers and clinics, where shorter hospitalization periods and lower healthcare costs contribute to market growth.
Key players in the Powered Surgical Instruments Market:
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Medtronic plc
- Johnson & Johnson
- CONMED Corporation
- B. Braun Melsungen AG
- MicroAire Surgical Instruments LLC
- DePuy Synthes, Inc.
- Aesculap AG
Some Key Highlights in the Report:
- The forecasted period is expected to see the electric sector as the top revenue generator, primarily due to the remarkable precision, accuracy, and speed provided by electric surgical tools. The healthcare industry is witnessing a swift adoption of electric instruments due to their capacity to deliver consistent performance and increased efficiency within shorter timeframes. Electric devices are also user-friendly, granting surgeons greater command over surgical procedures, thereby yielding improved outcomes. The surge in demand for less invasive surgical techniques, coupled with the growing prevalence of chronic illnesses such as cancer and cardiovascular issues, is foreseen to fuel revenue expansion in the electric-powered surgical tools sector throughout the projected period.
- In contrast, the orthopedic sector is anticipated to command the highest revenue share during the projection period. This can be attributed to the escalating incidence of musculoskeletal ailments like osteoarthritis, rheumatoid arthritis, and osteoporosis, necessitating surgical interventions within the orthopedic domain. Moreover, the increasing occurrence of sports-related injuries and an aging population are poised to boost demand for orthopedic surgeries, consequently propelling revenue growth in this particular sector.
- Looking at geographical trends, the North American market is forecasted to secure the largest portion of revenue throughout the projected period. This can be attributed to several factors, including an aging population, an upsurge in the prevalence of chronic diseases, and a heightened demand for minimally invasive surgical procedures. The United States and Canada are the primary markets within this region, benefiting from well-established healthcare infrastructure, a significant emphasis on research and development initiatives, and a high adoption rate of advanced surgical equipment. The market for powered surgical tools in North America is also expected to flourish owing to supportive government policies promoting the adoption of advanced surgical instruments and the growing trend of outpatient procedures.
- Conversely, the Asia Pacific market is poised to experience the most rapid growth in revenue during the forecast period. This region encompasses developing nations with substantial populations, such as India, China, and South Korea, where the incidence of chronic diseases is on the upswing. There is a mounting demand for cutting-edge medical and surgical equipment, particularly powered surgical instruments. Additionally, factors such as increasing healthcare expenses, a surge in the number of hospitals and ambulatory surgical centers, and the expanding availability of healthcare facilities are anticipated to propel the growth of market revenue in the Asia Pacific region.
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For the purpose of this report, Reports and Data has segmented the global powered surgical instruments market on the basis of Product Type Outlook, Power Source Outlook, Application Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Wired
- Wireless
Power Source Outlook (Revenue, USD Billion; 2022 – 2032)
- Electric-powered
- Battery-operated
- Pneumatic-powered
- Others
Application Outlook (Revenue, USD Billion; 2022 – 2032)
- Orthopedic Surgery
- Neurosurgery
- Cardiovascular Surgery
- ENT Surgery
- Opthalmic Surgery
- Plastic & Reconstructive Surgery
- Others
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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