Powered surgical instruments are essential devices utilized by surgeons to perform minimally invasive surgeries and conventional surgeries precisely and efficiently. These instruments comprise powered drill systems, saws, shavers, staplers, and other powered instruments. They help surgeons in various areas such as orthopedics, plastic surgery, neurology, ENT, and others. Powered instruments make surgeries safer by reducing risks associated with manual surgeries. They provide control, accuracy, and consistency through precision and speed, thereby reducing operation time significantly. The adoption of powered surgical instruments is increasing across healthcare facilities owing to their advantages over conventional instruments.
The Global Powered Surgical Instruments Market is estimated to be valued at US$ 2.42 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Powered Surgical Instruments market are Aries Chemical, Inc., Arakawa Chemical Industries, Ltd., Atlas Organics Private Limited, GO YEN Chemical Industrial Co., Ltd., Haihang Industry, Kemira Oyj, Longkou Longpai Fine Chemical Industry Co., Ltd., Oleon NV, Plasmine Technology, Inc. and SEIKO PMC Corporation. These players are focusing on new product launches and geographic expansion to gain a competitive edge in the market.
The rising need for minimally invasive surgeries globally due to their advantages over conventional surgeries such as reduced postoperative pain, minimal scarring, shorter recovery time and hospital stay provide significant growth opportunities. The demand for powered instruments is increasing from ambulatory surgical centers and office-based surgeries due to the growing preference for outpatient surgeries.
Powered surgical instrument manufacturers are expanding their geographic presence globally to tap the potential of untapped and developing markets. The companies are focusing on mergers and acquisitions to strengthen their product portfolio and distribution networks in high growth regions including Asia Pacific, Latin America, and Middle East & Africa.
Market Drivers
Growth in the geriatric population worldwide is expected to fuel the demand for powered surgical instruments as the risk of various diseases and injuries increases with age. According to estimates, over 13% of the global population will be aged 65 or above by 2030. Powered instruments enable effective surgeries in elderly patients by reducing procedural time, thereby lowering surgical risks.
Increasing healthcare expenditures globally, predominantly in developed economies is anticipated to provide a positive outlook. Rising disposable incomes have increased affluence towards quality healthcare, propelling investments in advanced medical technologies including powered surgical instruments.
Market Restraints
High costs associated with powered surgical instruments limit widespread adoption, particularly in price-sensitive developing regions. The high pricing is due to advancements incorporated including precision, speed and efficiency. This remains a major challenge for small healthcare centers and individual surgeons.
Lack of adequate reimbursement policies for advanced surgical procedures in some countries hinders the market growth. Not all insurance providers cover costs related to minimally invasive surgeries involving costly powered instrumentation. This factor acts as a bottleneck in market expansion across underdeveloped nations.
Segment Analysis
Powered Surgical Instruments Market Demand is mainly segmented into handpieces and accessories subsegment. Handpieces subsegment held the largest market share in 2024 as these are essential components required in almost all minimally invasive surgeries. New technological advancements such as multipurpose handpieces allowing applications in diverse surgeries have further increased the adoption rate and boosted the growth of handpieces subsegment. Accessories segment is anticipated to witness highest growth during the forecast period due to the frequent need for replacing worn out accessories such as blades and drill bits.
Global Analysis
North America dominated the global powered surgical instruments market in 2024 owing to rising prevalence of chronic diseases, growing geriatric population undergoing various surgeries and rapid adoption of advanced surgical technologies. Europe captured the second largest revenue share attributed to increasing healthcare expenditure, large patient pool and government support for research & development activities. Asia Pacific is projected to witness fastest growth during the forecast period credited to improving access to healthcare facilities, rising medical tourism and growing focus of key players on expanding business in emerging nations of China and India.
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