Powered instruments such as powered drills, saws and staplers have revolutionized complex surgeries and finding widespread acceptance among surgeons. The global Powered Surgical Instruments Market is estimated to be valued at US$ 3.2 billion in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of powered surgical instruments in ambulatory surgical centers is expected to be a key trend fueling the market growth over the forecast period. Ambulatory surgical centers are medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. As powered instruments enable complex surgeries to be performed with minimally invasive procedures resulting in lower risks of complications and shorter recovery times, their adoption is growing significantly in ambulatory surgical centers for a variety of surgical specialties. This is helping to reduce pressure on hospitals while improving access and experience for patients undergoing low-risk and non-life threatening surgical procedures. The development of advanced powered instruments tailored for ambulatory centers will further drive their increased utilization.
Segment Analysis
The global powered surgical instruments market is dominated by the orthopedic subsegment. Powered devices are extensively used in orthopedic surgeries for functions like bone cutting, grinding, and reshaping. The precision and consistency delivered by powered tools help orthopedic surgeons achieve better procedural outcomes. Within orthopedics, reconstructive procedures like joint replacement surgery employ the largest number of powered instruments.
Key Takeaways
The Global Powered Surgical Instruments Market Size is expected to witness high growth over the forecast period. Powered tools are gaining widespread acceptance among medical professionals due to benefits like improved precision, reduced procedural time and strain on the surgeon.
Regional analysis: North America is currently the dominant market for powered surgical instruments owing to factors like the large volume of surgeries performed, availability of advanced healthcare infrastructure and growing geriatric population. However, the Asia Pacific region is likely to emerge as the fastest growing regional market in coming years. Factors driving the growth include improving access to healthcare, rising medical tourism and increasing healthcare expenditure in developing countries of Asia Pacific.
Key players operating in the powered surgical instruments market are Stryker, Johnson & Johnson, B. Braun, Medtronic, Conmed, Smith & Nephew, Zimmer Biomet and BD. Stryker is the market leader with a strong portfolio of powered orthopedic and ENT devices. Johnson & Johnson has a significant share within powered instruments for laparoscopic and general surgeries.
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