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The report offers detailed insights on the top investment pockets, market size & estimations, growth factors & opportunities, strategic developments, and competitive landscape. According to the report, the global powered surgical instrument market was pegged at $1.94 billion in 2017 and is expected to garner $2.73 billion by 2025, registering a CAGR of 4.2% through 2025.Powered surgical instruments are high-powered specially designed instruments that are used for performing specific or desired actions during a surgery. There are several high-powered surgical drill systems present in the market such as reamer systems, saw systems, stapler, shavers, and other handpieces, which are used during orthopedic, neuro, cardiovascular, cardiothoracic, and various other surgeries.
Based on application, the market is segmented into neurosurgery, plastic surgery, ENT surgery, cardiovascular surgery, cardiothoracic surgery and others. The orthopedic surgery segment contributed to the major revenue in 2017 and is anticipated to continue its leadership status during the forecast period. The growing demand of minimally invasive surgery in orthopedics and increase in geriatric population augment the demand of powered surgical instruments.By region, North America is anticipated to maintain its dominance during the forecast period due to cutting-edge healthcare infrastructure and high adoption rate of innovative surgical tools.
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Handpieces segment to dominate the market throughout the study period
The handpieces segment held the largest share in 2017, contributing about two-thirds of total market revenue, owing to the growing demand for minimally invasive surgery and rapid adoption of technologically advanced surgical instruments. However, the accessories segment is expected to register the fastest CAGR of 5.1% during the study period, owing to frequent change of surgical and electrical accessories due to occurrence of wear and tear of accessories over time. The power source & controls segment is expected to witness steady growth during the forecast period.
Torchbearers of the market
The key players analyzed in the report include De Soutter Medical Ltd., Peter Brasseler Holdings, LLC, Intrauma S.p.A., GEISTER Medizintechnik GmbH, and Ruijin Medical Instrument & Device Co., Ltd.
The report includes an in-depth analysis of research methodology, market scope, market dynamics, market share analysis, product pipeline analysis, key market segments, key growth factors & opportunities, market size & forecast, business performance, key strategic moves and operating business segments. Rise in geriatric population, increase in the number of chronic diseases, growing rate of surgical procedures across the globe and especially, mounting demand for minimally invasive surgeries have rocketed the growth of global powered surgical instrument market. On the other hand, high-price rivalry and unfavorable taxation policy have happened to restrain the growth to certain extent. Nevertheless, various growth opportunities from emerging economies have spurred the growth yet again.
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North America governs the market in 2017
North America held the largest share in the global powered surgical instrument market, garnering about half of the total revenue in 2017, owing to highly sophisticated healthcare infrastructure and high adoption rate of technologically advanced surgical tools in the region. However, Asia-Pacific region is expected to portray the fastest CAGR of 5.4% during the forecast period, owing to high prevalence of chronic diseases and rise in demand of minimally invasive surgery. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).
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