Powered Surgical Instruments Market – A Boon for Surgeons
Powered surgical instruments are surgical devices and accessories that are used to shape, fixate, cut, drill or dissect a bone. They are used to emulsify, fragment, and aspirate soft tissues in multiple procedures such as sports surgery and reconstructive surgeries, and extremity procedures to the most complex types of surgeries including neurological, ENT, and spinal cord surgeries. The skills and technical expertise required by surgeons to perform these surgeries are very high and thus the powered surgical tools provides an aid to the surgeons in achieving precision and accuracy in extensive surgical procedures. These instruments are usually operated through three power sources that include battery power, electric power, and pneumatic power. They are majorly used for orthopedic surgeries, owing to efficacy of these devices in performing surgical procedures such as osteomy. The powered surgical instruments are available in the form of reusable as well as single-use devices. Single-use powered surgical instruments reduces the risk of infection as compared to the use of conventional reprocessed devices for numerous surgeries, which in turn is increasing the demand for these devices.
Increasing inclination of physicians towards robotic surgery to drive the growth of powered surgical instruments market
Lack of skilled surgical experts coupled with increasing number of surgical procedures performed are responsible in surging the demand for robotic surgical procedures. According to Association of American Medical Colleges in 2017, the U.S. is expected to face significant shortage of surgeons accounting up to 19,800-29,000 surgeons by 2030. Thus, the demand for robotic surgeries in North American and European countries coupled with the adoption of minimally invasive surgeries that involves less post-surgical complications and reduces labor cost are expected to foster the growth of powered surgical instruments market. Advent of medical tourism in Asian countries due to availability of advanced healthcare facilities, skilled surgeons, and use of modern technical equipment all at low costs in the region are further propelling the use of these instruments, which in turn is fueling the growth of powered surgical instruments market. According to Directorate-General of Commercial Intelligence and Statistics of India 2017, a total of 460,000 international patients availed medical services in Indian hospitals between the years 2015 - 2016. Moreover, the report also listed that India was a top medical destination for patients availing surgeries and healthcare in orthopedics, cardiology, and neurology that mainly use powered surgical instruments. Several other factors responsible for the growth of powered surgical instruments market include technological advancements, rise in number of surgical procedures, adoption of minimally invasive surgeries, and rising healthcare expenditure to develop medical and healthcare infrastructure across the globe. However, unfavorable reimbursement policies and threat of surgical site contamination with the use of these devices could hamper the market growth.
The global powered surgical instruments market was valued at US$ 1,965.4 million in 2016 and is expected to witness a robust CAGR of 3.0 % over the forecast period (2017 - 2025).
Figure 1. Global Powered Surgical Instruments Market Share (%), by Product Type, 2017 - 2025
Technological advancements in the hand-pieces segment to propel growth of global powered surgical instruments market
Market players are focused on providing customized solutions and powered devices to the consumers that includes autoclavable and non-autoclavable devices with specific shaft output and motor power of the instruments. Moreover, the key players are indulged into incorporation of novel technologies in the powered surgical instruments. For instance, Aesthetx, the U.S. based company developed an innovative instrument in 2015 that incorporated the use of peizo technique in the powered surgical instruments. The peizo refers to a piece of equipment that easily cuts the hard bone through with recognizing soft tissues, making the device to stop and vibrate at a place. This device provides high assistance in rhinoplasty ensuring less damage and bleeding inside the nose thus reducing the recovery time. Some of the major players operating the global powered surgical instruments market include Stryker Corporation, Conmed Corporation, Zimmer Holdings, Inc., MicroAire Corporation, Medtronic Plc, KLS Martin Group, DePuy Synthes, and B. Braun Melsungen AG.
Powered Surgical Instruments are surgical devices that are used to perform various tasks in a surgical procedure and are operated through a power source. The powered surgical instruments are considered to be technologically advanced devices that assist surgeon in carrying out surgical procedures in various medical domains such as Orthopedics, ENT, Neurology, Cardiovascular, oral, maxillofacial, and others. The hand-pieces segment in the powered surgical instruments are mainly operated through three power sources that include battery powered devices, which use Lithium ion batteries that are rechargeable sources, electric powered devices that are operated through electrical supply, and pneumatic powered devices that are operated through air pressure obtained through an air reservoir attached to the device.
The major factor responsible to drive the growth of global powered surgical instruments market include the rising number of surgical procedures coupled with the shortage of skilled and expert surgeons. Increasing number of cosmetic procedures performed that uses minimally invasive surgical devices are also contributing to the market growth. According to Annual Plastic Surgery Procedural Statistics, 15.9 million surgical and minimally invasive cosmetic procedures were performed in the U.S. in 2015 with 2% increase in the surgical number as compared to 2014. Various other factors contributing to the market growth include rising adoption of surgical robots, technological advancements, increasing healthcare spending by medical sectors of developed and emerging economies, and medical tourism. However, the adverse outcomes due to contamination in the reusable devices leading to surgical site infections, pricing pressure on the manufacturers, and unfavorable reimbursement scenario are expected to restrain the market growth.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 45 market data tables and 40 figures on "Powered Surgical Instruments Market - Global forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.