Powered Surgical Instrument Market to Reach $2.73 Bn, Globally, by 2025 at 4.2% CAGR, Says Allied Market Research

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Nov 30, 2018, 06:15 ET

PORTLAND, Oregon, November 30, 2018 /PRNewswire/ --

High prevalence of chronic disease rise in global geriatric population and increase in healthcare expenditure are expected to propel the growth of the global powered surgical instrument market.

Allied Market Research recently published a report, titled, "Powered Surgical Instrument Market By Product (Handpieces, Power Source & controls, and Accessories), Power Source (Battery-powered instruments, Pneumatic instruments, and Electric instruments), and Application (Orthopedic surgery, Neurosurgery, ENT surgery, Cardiovascular Surgery, Plastic surgery, Cardiothoracic surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025". 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.

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High prevalence of chronic diseases and rise in geriatric population drive the growth of the global powered surgical instrument market. However, inadequate quality assurance and lack of proper sterilization practices hamper the market growth. On the contrary, increasing healthcare expenditure is expected to create lucrative opportunities for the market players in the coming years.

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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.

Battery-powered instruments segment to portray fastest growth through 2025

The battery-powered instruments segment is expected to register the fastest CAGR of 4.7% during the forecast period. This is attributed to the fact that battery-powered instruments are coreless, lightweight, efficient, and chargeable that provide comfort during surgery, which have boosted their demand. However, electric instruments segment held the largest share in the market in 2017, contributing about 41% of the total revenue, owing to the low cost of electric surgical handpieces and higher power output compared to pneumatic and battery-powered instruments. Pneumatic instruments segment would exhibit steady growth during the forecast period.

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Plastic surgery segment to manifest rapid growth by 2025

The plastic surgery segment is estimated to register the fastest CAGR of 6.2% from 2017 to 2023, owing to the growing demand for cosmetic surgeries, increasing incidence of cancer, and growing age-related surgeries across the globe. However, the orthopedic surgery segment accounted the largest share, contributing about 21% share of the market, owing to increased demand for minimally invasive surgery in orthopedics and rise in geriatric population. The other segments analyzed in the report include neurosurgery, ENT surgery, cardiovascular surgery, cardiothoracic surgery, and others.

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).

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.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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