Coherent Market Insights

Powered Surgical Instruments Market to Surpass US$ 3.10 Bn by 2031

Powered Surgical Instruments Market to Surpass US$ 3.10 Bn by 2031 - Coherent Market Insights

Publish In: Jul 01, 2024

Powered surgical instruments market is estimated to witness high growth, owing to technological advancements & rising adoption of robotic surgeries

Powered surgical instruments market is estimated to be valued at USD 2.31 Bn in 2024, exhibiting a CAGR of 4.3% over the forecast period 2024-2031. Technological advancements in powered surgical instruments increases their efficacy, precision, and safety, and this can drive the market growth. Rising adoption of robotic surgeries can also drive the market growth. Furthermore, rising geriatric population and increasing number of surgeries boosts demand for powered surgical instruments.

Market Dynamics:

Rising adoption of robotic surgeries: There has been huge adoption of powered surgical instruments due to increasing use of robotic surgeries globally. Robotic surgeries offer several advantages over conventional open surgeries such as minimally invasive procedure, less blood loss, shorter hospital stay and faster recovery time. This boosts uptake of advanced powered surgical instruments.

Technological advancements: Vendors are consistently focusing on developing advanced powered surgical instruments with improved features such as high precision motion, greater flexibility, miniaturization and enhanced ergonomics. Introduction of surgical instruments with 4K 3D visualization, tremor elimination, and motion scaling can expand the potential clinical applications of powered instruments.

Increased Adoption of Minimally Invasive Surgeries

Global powered surgical instruments market growth can be driven by rising adoption of minimally invasive surgeries (MIS). Powered surgical instruments play a crucial role in MIS as these allow surgeons to perform complex surgical procedures through small incisions resulting in reduced post-operative pain, shorter hospital stays and faster recovery for patients. The advantages offered by MIS such as lesser blood loss, minimal scarring and lower risk of surgical site infections have boosted its acceptance among both physicians and patients. Various clinical studies have proven MIS techniques to be more effective compared to traditional open surgeries. This has encouraged healthcare facilities across the globe to equip themselves with advanced powered instruments that facilitate minimally invasive procedures.

Rapid Technological Advancements are Expanding the Applications of Powered Surgical Devices

Constant innovations and enhancement in technology have expanded the scope of applications for powered surgical instruments beyond conventional laparoscopic procedures. Emergence of technologies such as robotics, artificial intelligence and IoT integration have enabled development of next-generation instruments ideal for complex surgical specialties including urology, gynecology, neurosurgery and cardiac procedures. Advanced energy-based devices incorporating advanced tissue sealing, dissecting and transection technologies are assisting surgeons perform intricate surgeries accurately and safely. Growing R&D activities by key players have also resulted in launch of portable and lightweight solutions.

High Cost of Advanced Surgical Solutions

The high cost associated with technologically sophisticated powered surgical instruments can hamper the market growth, particularly in price-sensitive developing regions. Advanced energy devices and robotic systems are expensive, and this can hamper the market growth. The high capital expenditure required for installation of such equipment poses serious budgetary challenges for healthcare providers, especially those located in underdeveloped and low-income countries. Moreover, the need for recurring operating costs for equipment maintenance and regulatory compliance further inflates the total cost of ownership.

Lack of Skilled Surgeons Hinders Market Penetration

Lack of trained medical professionals with expertise in utilizing advanced powered instruments presents can hamper the market growth. Handling energy-based precision devices and operating complex robotic surgical platforms requires extensive training and skills that are not yet widespread universally. This workforce shortage poses risks of improper deployment of sophisticated equipment. It also discourages healthcare facilities from investment in next-gen solutions as return on investment depends on the number and type of procedures performed. Absence of skilled surgeons remains a deterrent, particularly in developing regions where medical training infrastructure is still developing. Extensive training and certification programs are needed to expand the available talents and address this barrier.

Growing Medical Tourism Creates Lucrative Opportunities

Rising medical tourism in developed countries like the U.S., Germany, Singapore and India offers new opportunities for players in the powered surgical instruments market. These nations have emerged as popular destinations for international patients seeking high-quality yet relatively affordable healthcare services. Since medical tourists require surgical treatments using the latest technologies, facilities are pressured to strengthen their product offerings. This encourages hospitals to invest heavily in state-of-the-art equipment like robotic-assisted surgical systems and integrated OR suites. It also benefits instrument suppliers through increased equipment exports. Technology providers can leverage the medical tourism boom by replicating lucrative business models across various regions.

Transition Towards Ambulatory Surgery Centers Expands the Market Horizon

Rising shift from conventional in-patient surgeries to out-patient and ambulatory surgical procedures can also offer market growth opportunities. More complex surgeries are now being conducted in free-standing ambulatory surgical centers (ASCs), as these facilities offer benefits like lower infection risks and higher patient satisfaction. Powered instruments manufacturers can boost sales through tailored product portfolios designed for ASCs, such as portable, easy-to-use and cost-efficient devices. Transitioning surgeries from hospitals to lower-cost ASCs also helps in improving affordability and access to advanced treatments.


Key Development

  • On April 2024, Proprio, a leader in AI-powered surgical technology, announced a significant multi-phase partnership with the Biedermann Group, a company known for its cutting-edge spinal implant systems and procedural solutions. The initial phase of partnership will focus on integrating Biedermann's advanced spinal implants with Proprio's Paradigm system. This system utilizes AI, computer vision, and augmented reality to offer surgeons real-time visualization and guidance during surgical procedures.
  • In September 2021, Panther Healthcare, a medical equipment company, launched the Smart Powered Stapler platform across Europe, the Middle East, Africa, Asia, and Latin America. This platform provides intelligent, automated control over tissue compression, transection, and resection during various surgical procedures, including gastrointestinal, thoracic, colorectal, oncology, and gynaecologic surgeries.
  • In September 2022, Teleflex Incorporated, a global provider of medical technologies, completed its acquisition of Standard Bariatrics, Inc., a company known for its advanced powered stapling technology used in bariatric surgery
  • In June 2022, Ethicon, a division of Johnson & Johnson MedTech, introduced the ECHELON 3000 Stapler, a digitally enhanced device offering surgeons one-handed powered articulation to meet specific patient needs

Key Players: Stryker Corporation, Medtronic PLC, Johnson & Johnson, CONMED Corporation, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Smith & Nephew PLC, MicroAire Surgical Instruments, Desoutter Medical Ltd, Pro-Dex Inc., Alcon Laboratories Inc., Black & Black Surgical, De Soutter Medical, Allotech Co., Ltd., Nouvag AG, W&H Dentalwerk International, Thompson Surgical Instruments, Brasseler USA

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