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Powered Surgical Instruments Market, by Product Type, Application, and Region - Trends and Forecast till 2025
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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.
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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.
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).
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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.
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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