Powered Surgical Instrument Market Overview 2020 By In-Depth Analysis, Growth Opportunities, CAGR Status, Sales Volume and Forecast To 2026
Pune, Maharashtra, India, September 16 2020 (Wiredrelease) Allied Analytics –:Global Powered surgical instrument market generated $1,943 million in 2017 and is projected to reach $2,731 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025. The handpieces segment accounted for more than three-fifth of the total market share in 2017.
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.
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.
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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.
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).
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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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