The global powered surgical instrument market was estimated to reach USD 1.83 billion in 2017. The market is expected to register a CAGR of 3.6% during 2018 to 2023 (the forecast period). North America dominates the market, due to the presence of established healthcare facilities in the region.
Increasing Number of Surgical Procedures
Power surgical instruments have received attention in recent years, with NASA’s Jet Propulsion Laboratory (JPL) in Pasadena, California, introducing the next generation of high-tech surgical instruments, to remove tumors and treat other brain abnormalities. According to estimates published by Ethicon Endo in 2013, nearly 850 surgical procedures took place, out of which nearly 800 were minimally invasive procedures. Increasing number of surgical procedures, coupled with technological advancements, such as the introduction of robot assisted surgical procedures, is expected to drive the growth of the powered surgical instrument market. Aforementioned medical conditions, lead to increasing number of surgical procedures to be performed. The advancement in medical tourism is expected to positively reinforce the powered surgical instruments market, over the next six years.
In addition, the growth in the geriatric population worldwide and growing prevalence of lifestyle diseases, also fuel the powered surgical instruments market.
Lack of Sterilization Procedure
According to Centers for Disease Control and Prevention (CDC), in the United States, five million gastrointestinal endoscopies are performed each year. Each of these procedures involves contact by a surgical device, with a patient’s sterile tissue or mucous membrane. A major risk of all such procedures is entry of pathogenic microbes in the patient’s body, which can lead to infection. So, the lack of sterilization procedure is a restraint for the powered surgical instruments market.
Lack of reimbursement, along with the high cost and inadequate skilled professionals, is restraining the growth of the market.
North America to Dominate the Market
The powered surgical instruments market is segmented by power source, product type, application type, and geography. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America dominates the power surgical instruments market, due to the presence of well-established healthcare facilities and the growth in the geriatric population, in the country. Asia-Pacific is also expected to propel the powered surgical instruments market, due to factors, such as increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing prevalence of chronic diseases with requirement for surgical procedures.
KEY DEVELOPMENTS IN THE MARKET
- Zimmer Biomet developed Zimmer a powerful surgical equipment that gives surgeons precision and reliability, which is used for orthopedic surgery, as a tool for drilling, reaming, and sawing with lithium battery technology.
- 2017 – Aesthetx, a medical and cosmetics firm, which uses power tools for Rhinoplasty, ensuring minimum soft tissues damage. This procedure is called, Piezo technique. Piezo is an equipment that cuts the bone and recognizes soft tissues.
Major Players: JOHNSON & JOHNSON, B. BRAUN MELSUNGEN AG, STRYKER CO., MEDTRONIC INCORPORATED, SMITH & NEPHEW, CONMED CO., DESOUTTER MEDICAL LTD, ZIMMER HOLDINGS, among others.
REASONS TO PURCHASE THIS REPORT
To know more about:
- Current and future Powered Surgical Instrument Market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The treatment type that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
CUSTOMIZATION OF THE REPORT
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1.1 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTER’S FIVE FORCES ANALYSIS
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 MARKET DRIVERS
6.1.1 INCREASING NUMBER OF SURGICAL PROCEDURES
6.1.2 INCREASE IN GERIATRIC POPULATION
6.1.3 TECHNOLOGICAL INNOVATIONS
6.1.4 GROWING PREVALENCE OF LIFESTYLE DISEASES
6.2 MARKET RESTRAINTS
6.2.1 LACK OF STERILIZATION PROCEDURE
6.2.2 REIMBURSEMENT CHALLENGES
6.2.3 INADEQUATE SKILLED PROFESSIONALS
6.4 KEY CHALLENGES
7. MARKET SEGMENTATION
7.1 SEGMENTATION BY TYPE OF POWER SOURCE
7.1.1 ELECTRIC INSTRUMENTS
7.1.2 BATTERY POWERED INSTRUMENTS
7.1.3 PNEUMATIC INSTRUMENTS
7.2 SEGMENTATION BY TYPE OF PRODUCT
184.108.40.206 DRILL SYSTEM
220.127.116.11 SAW SYSTEMS
18.104.22.168 REAMER SYSTEMS
7.2.2 POWER SOURCES AND CONTROLS
22.214.171.124 ELECTRIC CONSOLES
126.96.36.199 PNEUMATIC REGULATORS
188.8.131.52 SURGICAL ACCESSORIES
184.108.40.206 ELECTRICAL ACCESSORIES
220.127.116.11 OTHER ACCESSORIES
7.3 SEGMENTATION BY TYPE OF APPLICATION
7.3.1 ORTHOPEDIC SURGERY
7.3.2 ORAL AND MAXILLOFACIAL SURGERY
7.3.3 NEURO SURGERY
7.3.4 ENT SURGERY
7.3.5 PLASTIC AND RECONSTRUCTIVE SURGERY
7.3.6 CARDIOTHORACIC SURGERY
7.4 SEGMENTATION BY GEOGRAPHY
7.4.1 NORTH AMERICA
18.104.22.168 UNITED STATES
22.214.171.124 UNITED KINGDOM
126.96.36.199 REST OF EUROPE
188.8.131.52 AUSTRALIA & NEW ZEALAND
184.108.40.206 SOUTH KOREA
220.127.116.11 REST OF ASIA-PACIFIC
7.4.4 MIDDLE EAST AND AFRICA
18.104.22.168 SOUTH AFRICA
22.214.171.124 REST OF MIDDLE EAST AND AFRICA
7.4.5 SOUTH AMERICA
126.96.36.199 REST OF SOUTH AMERICA
8. COMPETITIVE LANDSCAPE
8.1 MERGERS AND ACQUISITION ANALYSIS
8.2 AGREEMENTS, COLLABORATIONS & PARTNERSHIPS
8.3 NEW PRODUCTS LAUNCHES
9. COMPANY PROFILES
9.1 JOHNSON & JOHNSON
9.2 B. BRAUN MELSUNGEN AG
9.3 STRYKER CO.
9.4 MEDTRONIC INCORPORATED
9.5 SMITH & NEPHEW
9.6 JOHNSON AND JOHNSON
9.7 ZIMMER HOLDINGS
9.8 CONMED CO
9.9 DESOUTTER MEDICAL LTD
10. FUTURE OF THE MARKET