The Global Powered Surgical Instruments Market, by Product Type (Hand-Pieces and Accessories), by Application (ENT, Orthopedics, Neurology, Oral & Maxillofacial, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,195.7 million in 2016 and is projected to exhibit a CAGR of 3.0% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Wide applications in surgical procedures and increasing research and development activities for the production of efficient devices with higher performance are expected to be the major factors driving growth of the global powered surgical instruments market over the forecast period.
Increasing number of surgical procedures and advent in laparoscopy and surgical robots are expected to propel the growth of powered surgical instruments market. According to the World Health Organization (WHO), in 2012, around 266.2 to 359.5 million surgical operations were performed across the globe. The powered surgical instruments are used to reduce the manual error possibilities and improve accuracy and precision of the surgery, as these devices offer only the required torque, rpm, and other mechanical parameters preset and required for performing a specific task.
Furthermore, powered surgical instruments are mainly used in plastic and cosmetic surgery and numerous minimally invasive surgical procedures. The powered surgical instruments offer benefits such as less operation time, decrease in wound healing complications, and provides better surgical outcomes. These instruments are used for performing orthopedic surgeries wherein these devices are used for cutting, sawing, and drilling the bones for various procedures. Manufacturers and researchers are focused on development of innovative powered surgical instruments that offer high efficiency at lower prices, as the market is highly competitive due to emerging regional players entering into the market every year. For instance, a new robotic surgical power drill developed by researchers at University of Utah in May, 2017, which is capable of performing a complex cranial surgery 50 times faster than the normal surgical procedure. The device is capable of performing fast, safe and clean cuts just by using patient’s CT criteria.
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Market players are coming up with innovation to compete with the existing market players and acquire a substantial customer base. For instance, Smart Medical Devices, Inc. in March 2016 developed a powered surgical drill named SMARTdrill designed by a team of surgeons to exactly meet the drilling requirement during an orthopedic surgery. The drill is one of its kind product that provides instantaneous depth control, real time performance monitoring, screw pullout strength, real-time bone density, and depth measurement. The market players are indulged in widening the scope for the use of powered surgical instruments in new types of surgeries. For instance, in October 2017, W&H Dentalwerk Bürmoos GmbH, an Austrian company introduced the use of piezosurgical power tool in the field of surgical endodontics that allows cutting with incredible precision with the help of high frequency micro vibration technology used in the device that also helps in ensuring blood free dental surgical site.
Key Takeaways of the Powered Surgical Instruments Market:
Some major players operating in the global powered surgical instruments market are Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., Medtronic Plc, Arthrex, Inc., KLS Martin L.P., MicroAire Surgical Instruments LLC, Smith & Nephew Plc, DePuy Synthes, and B. Braun Melsungen AG.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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