The global powered surgical instruments market size is expected to reach USD 2.8 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.8%. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness and affordability of plastic or reconstructive surgeries and surgeries for sports injuries is likely propel growth over the forecast period.
Increase in factors such as
demand for minimally invasive surgeries & robot-aided procedures as well as
improving accessibility to healthcare is contributing to growth. In addition,
increasing geriatric population and rising awareness about availability of
surgical procedures are likely to boost the market.
Increase in number of road
accidents and rising healthcare expenditure in emerging economies are other
factors likely to boost revenue generation in the market. According to the U.S.
Census Bureau, the global healthcare expenditure is expected to reach USD 18.28
trillion by 2040, growing at a CAGR of 2.6%. According to WHO, the global
population aged 60 years and above is expected to reach 2 billion by 2050, from
900 million in 2015. This demographic is more susceptible to a vast number of
diseases, increasing the need for effective treatments, thereby boosting the
market.
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Powered Surgical
Instruments Market Report Highlights
- North America accounted for
the largest share of over 42.0%, owing to high prevalence of chronic
disorders, favorable reimbursement policies, presence of key players, and
government initiatives.
- Asian countries are
estimated to show the highest growth rate of 5% over the forecast period,
due to an increasing adoption of advanced technologies, increasing
investments, improving reimbursement scenario, and increasing medical
tourism.
- Handpiece powered surgical
instruments is expected to dominate over the forecast period. It accounted
for more than more than 40.0% of share in 2018.
- Based on application,
orthopedic, followed by cardiovascular surgery, were leading segments in
the market, owing to high use of powered instruments, rising geriatric
population, and growing incidence of osteoporosis and heart conditions.
- Key players in powered
surgical instruments market are opting for strategies, such as
partnerships & acquisitions, introduction of new products, and
investments in new technologies, to expand their product portfolio and to
strengthen global footprint. For instance, in November 2018, Stryker
Corporation announced acquisition of K2M Group Holdings, Inc., thereby
expanding its product portfolio.
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Powered Surgical
Instruments Market Segmentation
Grand View Research has segmented
the powered surgical instruments market on the basis of product, application,
and region:
Powered Surgical
Instruments Product Outlook (Revenue, USD Million, 2015 - 2026)
- Handpieces
- Drill system
- Reamer system
- Saw system
- Stapler
- Shaver
- Others
- Power Source and control
- Electric instruments
- Battery power instruments
- Pneumatic instruments
- Accessories
- Surgical accessories
- Electrical accessories
Powered Surgical
Instruments Application outlook (Revenue, USD Million, 2015 - 2026)
- Orthopedic surgery
- Neurosurgery
- ENT surgery
- Cardiovascular surgery
- Plastic surgery
- Others
Powered Surgical
InstrumentsRegional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- Australia
- India
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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