The Global Powered Surgical Instruments Market is Powered by Acceleration by Miniaturization
The Global Powered Surgical Instruments Market |
Powered surgical instruments are
electromechanically operated devices that enable enhanced control and precision
during surgical procedures. Powered surgical instruments are commonly used for
tasks such as cutting, sawing, reaming, grinding, sharpening, and debriding.
They assist surgeons in performing complex procedures, especially in specialty
areas such as orthopedics, neurosurgery, ENT, and dental surgery. Powered
instruments enhance control, reduce procedure time, and enable minimally
invasive procedures.
The global powered surgical
instruments market is estimated to be valued at US$ 2.42 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market Dynamics:
The rising prevalence of chronic
diseases is a major factor driving the growth of the powered surgical
instruments market. Chronic diseases such as cardiovascular diseases, cancer,
respiratory diseases, and diabetes are leading causes of mortality worldwide.
Powered instruments help surgeons perform complex procedures to treat these
chronic conditions efficiently. Additionally, the growing geriatric population
is increasing the demand for surgical procedures. According to the United
Nations, the population aged 60 years and above is expected to reach 2.1
billion by 2050 from 962 million in 2017. The aged population is more prone to
chronic diseases and disability, thus propelling the need for surgical
interventions globally. Furthermore, powered instruments enhance accuracy,
control, and precision during surgeries. They reduce fatigue for surgeons and
burnout risk. This aids in performing surgeries more efficiently. However, high
costs associated with powered instruments may hamper market growth.
SWOT Analysis
Strength: Powered surgical
instruments offer precision and control to surgeons during procedures. They
help reduce hand tremors and allow for finer movements. The use of powered
instruments can also help shorten procedure times. Electric powered tools are
easy to maneuver and control.
Weakness: Powered surgical
devices require specialized training to operate. They may not be as
customizable as traditional manual tools depending on the procedure. Healthcare
facilities need to invest in the purchase and maintenance of powered equipment.
Opportunity: As minimally
invasive and robotic surgeries increase in popularity, demand for powered tools
will rise. Their advantages over manual instruments will lead to greater
adoption. New technologies allow for enhanced precision, control and integration
with digital systems.
Threats: Manual surgical tools
remain a cheaper alternative and are sufficient for many standard procedures.
Device malfunctions or technical issues during a surgery pose safety risks.
Stricter regulations may increase costs of developing new powered devices.
Key Takeaways
The Global Powered Surgical Instruments Market Share is
expected to witness high growth over the forecast period of 2024 to 2031.
Increased preference for minimally invasive surgeries and growing healthcare
expenditures are major drivers for market expansion. The global powered
surgical instruments market is estimated to be valued at US$ 2.42 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period
2024 to 2031.
Regional Analysis: North America currently dominates the market and
is expected to maintain its leading position through 2031. High patient volume
for surgical procedures and strong presence of key players in the US and Canada
support market growth in the region. Asia Pacific is projected to showcase the
fastest growth rate owing to rise of medical tourism, increasing healthcare
investments and expansion of private hospital networks in developing countries.
Key Players: 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 leading
companies are focusing on product innovations through advanced technology
integrations and strategic partnerships.
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