Powered Surgical Instrument Market

According to Stratistics MRC, the Global Powered Surgical Instruments Market is accounted for $2.62 billion in 2022 and is expected to reach $3.75 billion by 2028 growing at a CAGR of 6.2% during the forecast period. During surgery, powered surgical instruments are used for cutting, sawing, reaming, and many other tasks, especially when working on hard tissue like bone or teeth. These tools aid in achieving greater efficiencies, which shorten the time needed for surgery. During the procedure, powered surgical instruments can be used for cleaning, checking, and sterilizing. The demand for powered surgical instruments has increased as a result of numerous advancements and innovations in the fields of neurology, dentistry, cardiology, orthopaedics, and otology. Along with the numerous technological advancements such as surgical robotics that are propelling the market's expansion, the rise in surgical procedures and the prevalence of lifestyle diseases are the main market-driving factors for powered surgical instruments.

According to the World Obesity data in June 2019, between 1975 and 2020, the global prevalence of obesity nearly tripled.



Market Dynamics:

Driver:

Increasing prevalence of chronic diseases

The prevalence of chronic diseases like diabetes, cancer, cardiovascular diseases, and bone-related disorders is expected to rise during the forecast period, as is the number of surgical procedures. These factors are also expected to drive the global market for powered surgical instruments. Powerful surgical tools are intricate machines that improve the precision and dependability of critical surgical procedures. Robotic surgery innovations and technological advancements have had a significant impact on market expansion. Surgeons and other medical professionals can select the ideal powered instrument for surgical procedures because it is available in a variety of shapes and sizes. Additionally, there is a huge market for new surgical instruments and techniques as a result of the increased use of conventional surgeries.

Restraint:

Expensive regular maintenance and repairs

Powered surgical instruments need routine maintenance and repairs, which can take time and be expensive. Some facilities might not have the resources or knowledge necessary to maintain and fix these instruments, which would result in equipment downtime and lower availability. For healthcare facilities with tight budgets, especially those in developing nations, the price of powered surgical instruments can be a significant barrier.

Opportunity:

Increasing adoption of surgical robotics

The market for powered surgical instruments is being driven by an increase in technological advancements such as surgical robotics, which is a crucial factor in accelerating market growth. Other major market drivers include an increase in surgical procedures and the prevalence of lifestyle diseases. In the anticipated period, there will be more opportunities for the market for powered surgical instruments due to an increase in surgical procedures and technological developments, such as the introduction of robot-assisted surgical procedures.

Threat:

Lack of availability and adequate sterilization processes

Powered surgical instruments are intricate and may need specialized sterilization procedures, which in some settings can be difficult to set up and maintain. In some places or facilities, especially those that are rural or remote, the accessibility and availability of powered surgical instruments may be constrained. Furthermore, using powered surgical tools necessitates specialized training, which may not be easily accessible to all medical professionals.

Covid-19 Impact

The COVID-19 pandemic had a moderate effect on the market for powered surgical instruments. Due to the regulatory authorities' strict instructions to avoid any non-emergent surgeries, the number of orthopedic surgeries has significantly decreased during the pandemic. In May 2020, a study titled "Elective surgery cancellations due to the COVID-19 pandemic: global predictive modeling to inform surgical recovery plans" was published in the British Journal of Surgery. Based on a 12-week period of peak COVID-19-related hospital service disruption, the study estimated that approximately 28.4 million elective surgeries were postponed or cancelled globally in 2020. However, there will be a short-term adverse effect on the segment's growth as a result of the COVID-19 pandemic, which has temporarily stopped surgical procedures all over the world.

The handpieces segment is expected to be the largest during the forecast period

The largest percentage in 2018 was held by handpiece instruments, at over 40%. Due to characteristics like greater power, better efficiency, lighter frames, and ease of use compared to other instruments, the segment is expected to maintain its lead over the forecast period. Additionally, there is an increase in the popularity of minimally invasive surgery and the use of high-tech surgical instruments, both of which contribute to the expansion of the global market.

The orthopedic surgery segment is expected to have the highest CAGR during the forecast period

Over the course of the forecast period, orthopedic surgery is expected to have the highest CAGR. Acute injuries, congenital and acquired disorders, and chronic arthritic or overuse conditions of the bones, joints, and their associated soft tissues, including ligaments, nerves, and muscles, are all treated by orthopedic surgery. In the ensuing decades, osteoarthritis (OA) is predicted to become more prevalent globally. The segment is also driven by the rising prevalence of obesity, which frequently aggravates osteoarthritis and damages soft tissues. Thus, the segment is anticipated to grow over the forecast period as a result of all of the aforementioned factors, including the growing geriatric population and the product launches by major market players.

Region with largest share:

Due to the presence of significant players like Stryker Corporation, Zimmer Biomet, Ethicon, and others in the region, North America is predicted to hold a dominant position in the market. These manufacturers offer a wide range of products used in performing surgeries and are actively involved in the development and launch of new, innovative products. For instance, Stryker Corporation offers a wide range of powered surgical tools, such as drill systems, neuro and spine tools, and small, large, and medium-sized bone power tools, among others. This is anticipated to accelerate the growth of the powered surgical instrument market in North America.

Region with highest CAGR:

Due to rising healthcare spending by the populace and an increase in the adoption of powered surgical tools with robotic technologies by hospitals and doctors, Asia Pacific is anticipated to experience the highest growth rate in the powered surgical instruments market during the forecast period. For instance, the United States-based Vattikuti Foundation declared in 2017 that it is concentrating on India in order to make that country the second-largest market for robotic surgery in the world after the United States. This is anticipated to drive the growth of the powered surgical instruments market in the Asia-Pacific region.



Key players in the market

Some of the key players profiled in the Powered Surgical Instruments Market include Allotech Co., Ltd., Arthrex, Inc, B. Braun Melsungen AG., Carefusion Corporation, Conmed Corporation, DePuy Synthes, De-Soutter, Ethicon Inc., MicroAire Corporation, Johnson & Johnson, KLS Martin Group, Medtronic PLC, Microaire Surgical Instruments, Inc., Peter Brasseler Holdings, LLC., Pro-Dex, Smith & Nephew, Stryker Corporation and Zimmer Biomet.

Key Developments:

In March 2022, Johnson & Johnson MedTech announced that DePuy Synthes, The Orthopaedics Company of Johnson & Johnson, has acquired CUPTIMIZE™ Hip-Spine Analysis, giving surgeons an easy-to-use tool to better understand and address the impact of abnormal motion between the spine and pelvis in some patients who require total hip arthroplasty (THA). CUPTIMIZE Hip-Spine Analysis (CUPTIMIZE Analysis) enhances the surgical planning capabilities of VELYS™ Hip Navigation, one of the solutions within DePuy Synthes’ VELYS Digital Surgery platform of connected technologies.

In September 2021, Panther Healthcare launched the Smart Powered Stapler platform that offers intelligent and automatic control over tissue compression, transection, and resection for gastrointestinal (including bariatric), thoracic, colorectal, oncology, gynecologic, and other open and laparoscopic surgical procedures. The device has been released in Europe, the Middle East, Africa, Asia, and Latin America.

In March 2021, Ethicon announced the global launch of the ECHELON+ Stapler with GST Reloads, a new powered surgical stapler designed to increase staple line security and reduce complications through more uniform tissue compression and better staple formation.

Products Covered:
• Handpieces
• Power Source and Controls
• Accessories

Power Sources Covered:
• Electric Instruments
• Battery-powered Instruments
• Pneumatic Instruments

Applications Covered:
• Cardiothoracic Surgery
• ENT Surgery
• Neurosurgery
• Oral and Maxillofacial Surgery
• Orthopedic Surgery
• Plastic and Reconstructive Surgery
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances