Powered Surgical Instrument Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Type of Power Source (Electric Instruments, Battery-powered Instruments, and Pneumatic Instruments), By Product Type (Handpiece, Disposables, and Accessories), By Application (Orthopedic, Dental, Neurosurgery, Cardiothoracic Surgery, and Other Applications), and By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPowered Surgical Instrument Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Type of Power Source (Electric Instruments, Battery-powered Instruments, and Pneumatic Instruments), By Product Type (Handpiece, Disposables, and Accessories), By Application (Orthopedic, Dental, Neurosurgery, Cardiothoracic Surgery, and Other Applications), and By Region, Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 2.52 billion |
| CAGR (2024-2028) | 5.71% |
| Fastest Growing Segment | Electric Instruments |
| Largest Market | North America |
Market Overview
Global Powered Surgical Instrument Market has valued at USD 2.52 billion in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 5.71% through 2028.
The growing adoption of minimally invasive surgical techniques is a significant driver. Powered instruments are essential for these procedures, as they allow for precision, control, and access through smaller incisions, resulting in faster recovery times and reduced hospital stays. The global aging population is leading to an increased prevalence of chronic and age-related conditions that often require surgical interventions. This demographic trend is driving the demand for powered surgical instruments. Ongoing advancements in surgical instrument technology, such as robotics, digital imaging, and ergonomic design, are driving innovation and attracting healthcare providers to invest in the latest instruments for improved patient outcomes. The overall volume of surgeries performed globally continues to rise due to population growth, increased access to healthcare, and a higher incidence of chronic diseases. This increased surgical volume directly correlates with a greater demand for powered surgical instruments
Key Market Drivers
Technological Advancements
Technological advancements in powered surgical instruments have been transformative in improving the precision, safety, and outcomes of surgical procedures. These advancements encompass a wide range of innovations across various surgical specialties.
Manufacturers are designing powered instruments with ergonomic considerations to reduce surgeon fatigue during long procedures. Some instruments can be customized to suit the specific needs of surgeons and procedures. Some powered instruments are equipped with wireless technology, enabling data exchange, remote monitoring, and integration with other surgical equipment. This enhances surgical precision and safety. Smart surgical instruments can provide real-time feedback on parameters like pressure, temperature, and tissue characteristics. Surgeons can use this information to make informed decisions during surgery. Powered instruments can be integrated into surgical navigation systems, allowing for real-time tracking and guidance during complex procedures. This improves accuracy and reduces the risk of errors. Advancements in instrument design have led to single-port and flexible instruments for minimally invasive procedures. These instruments allow for access to difficult-to-reach areas with improved dexterity. 3D printing technology is being used to create customized surgical instruments, particularly for patient-specific procedures. Surgeons can have instruments tailored to the patient's anatomy, improving precision. Enhanced safety features, including audible and visual alerts, ensure that surgeons and surgical staff can work with confidence, reducing the risk of accidents during surgery. Some manufacturers are incorporating sustainable materials and designs into powered instruments, aligning with the healthcare industry's growing focus on environmental responsibility. This factor will help in the development of
Increased Surgical Volume
As the global population continues to grow, there is a natural increase in the number of people requiring surgical procedures. A larger population base leads to more patients seeking surgical treatment for various medical conditions. In many regions, improved access to healthcare facilities and services has made surgical care more accessible to a larger portion of the population. This increased access leads to more individuals seeking surgical treatment. Advances in surgical techniques, including minimally invasive procedures, have expanded the range of conditions that can be treated surgically. These techniques often rely on powered surgical instruments for their precision and effectiveness. In addition to treating medical conditions, an increasing number of individuals are opting for preventive and elective surgeries. These may include cosmetic surgeries, weight loss surgeries, and procedures to reduce the risk of future health issues.
The healthcare infrastructure in emerging markets is improving, leading to a higher demand for surgical services. As healthcare systems expand and develop, there is a growing need for surgical equipment, including powered instruments. Advancements in medical knowledge and technology have led to the development of specialized surgical procedures. These procedures often require specialized powered instruments tailored to the specific surgery, further driving demand. The increasing prevalence of non-communicable diseases, such as diabetes, cardiovascular diseases, and cancer, contributes to a higher demand for surgical interventions to manage or treat these conditions. Breakthroughs in medical research have resulted in innovative treatments that rely on surgical procedures, such as organ transplants, complex oncological surgeries, and neurosurgical interventions. Patients and healthcare providers are increasingly focused on improving healthcare quality and outcomes. Surgical procedures, when performed with precision using powered instruments, can lead to better patient outcomes. This factor will pace up the demand of
Rising Aging Population
As individuals age, they become more susceptible to age-related medical conditions such as osteoarthritis, degenerative spine disorders, cardiovascular diseases, and cancer. These conditions often require surgical interventions, and powered surgical instruments are essential for performing these procedures with precision. Joint replacement surgeries, such as hip and knee replacements, are commonly performed on elderly individuals to alleviate pain and improve mobility. These procedures heavily rely on powered instruments like drills and saws for bone preparation and implant placement. Degenerative spine conditions, spinal stenosis, and herniated discs are more prevalent among the aging population. Spinal surgeries often require powered instruments for tasks like bone removal and spinal fusion. Older adults are at a higher risk of cardiovascular diseases, necessitating procedures like coronary artery bypass grafting (CABG) and heart valve replacements. Powered instruments are used for intricate tasks in cardiac surgeries. Cancer incidence increases with age, and surgical procedures, such as tumor resections and lymph node dissections, are often part of cancer treatment. Powered instruments play a critical role in oncological surgeries.
Elderly patients may require general and abdominal surgeries for various reasons, including gastrointestinal conditions, hernias, and gallbladder diseases. Powered instruments aid in these procedures. The desire to maintain a high quality of life and independence drives many older adults to seek surgical treatments. Procedures like cataract removal and joint arthroscopy use powered instruments to enhance patient outcomes. Minimally invasive surgical techniques, which are gentler on older patients, have gained popularity. Powered instruments are vital for these procedures, allowing for smaller incisions and reduced trauma. Surgical precision is crucial when operating on elderly patients, as their bodies may be more fragile. Powered instruments provide the precision required to minimize tissue damage and reduce the risk of complications. Advances in healthcare have increased life expectancy. Older adults are living longer and healthier lives, but they may require surgical interventions to address age-related conditions, which further boosts the demand for powered surgical instruments. This factor will accelerate the demand of the Global Powered Surgical Instrument Market.
Key Market Challenges
Cost Pressures
Healthcare providers, including hospitals and surgical centers, are highly price-sensitive due to budget constraints. They often seek cost-effective solutions for their equipment needs, including powered surgical instruments. In many healthcare systems, reimbursement rates for medical procedures, including surgeries that use powered instruments, are subject to scrutiny and potential reductions. This can affect affordability and adoption of advanced instruments. Healthcare institutions are increasingly adopting cost-effective procurement strategies. They may negotiate for lower prices, explore bulk purchasing agreements, or lease equipment rather than making outright purchases. Economic downturns, such as recessions or financial crises, can lead to reduced healthcare budgets and delayed capital expenditures. This can impact the demand for expensive powered surgical instruments. Healthcare providers must allocate their resources judiciously to address various healthcare needs. The cost of powered surgical instruments competes with other healthcare expenditures, including personnel and facility maintenance. The shift toward value-based healthcare models emphasizes outcomes and cost-effectiveness. Healthcare providers are under pressure to demonstrate that investments in powered instruments yield better patient outcomes and cost savings in the long run.
Global Supply Chain Disruptions
Supply chain disruptions can lead to delays in the manufacturing of powered surgical instruments. This can result from disruptions in the supply of raw materials, components, and manufacturing equipment. Shutdowns or reduced capacity at manufacturing facilities due to supply chain disruptions can lead to a decreased supply of powered surgical instruments. This, in turn, can affect the availability of these instruments in the market. Sourcing materials from alternative suppliers or expediting shipments to overcome disruptions can increase production costs. These increased costs may be passed on to customers in the form of higher instrument prices. Disruptions in the supply chain can lead to inventory shortages, making it challenging for healthcare providers to access the powered surgical instruments they need for procedures. Supply chain disruptions can result in price volatility for raw materials and components. Manufacturers may face increased costs, which could impact pricing strategies. Transportation and logistics disruptions can affect the timely delivery of powered surgical instruments to healthcare facilities. This can lead to delays in surgeries and impact patient care. In some cases, manufacturers may need to source materials or components from alternative suppliers that may not meet the same quality standards. This can lead to concerns about the quality and reliability of the final products.
Key Market Trends
Customization and Ergonomics
Manufacturers are developing powered surgical instruments tailored to specific surgical procedures and specialties. These instruments are designed to optimize performance, precision, and ease of use for a particular type of surgery. Surgeons have varying preferences when it comes to the feel and function of surgical instruments. Customizable features, such as adjustable grips, instrument heads, and power settings, allow surgeons to personalize their instruments for optimal comfort and control. Ergonomics plays a crucial role in powered surgical instruments' design. Manufacturers are focusing on creating instruments with ergonomic handles, weight distribution, and button placements to reduce surgeon fatigue and discomfort during long procedures. User-friendly interfaces and intuitive controls are becoming standard features in powered instruments. Surgeons can easily adjust settings and monitor instrument performance in real time, enhancing their experience and efficiency. Powered surgical instruments with ergonomic grips and reduced vibration help minimize hand fatigue, allowing surgeons to maintain precision and control throughout lengthy procedures. Noise reduction features in powered instruments contribute to a quieter and more comfortable operating room environment, benefiting both surgical staff and patients. Manufacturers are paying attention to the weight and balance of powered instruments. Instruments are being designed to be lighter and better balanced to reduce the strain on surgeons' wrists and hands.
Segmental Insights
Type of Power Source Insights
In 2022, the Global Powered Surgical Instrument Market largest share was held by Electric Instruments segment in the forecast period and is predicted to continue expanding over the coming years.
The Battery-powered Instruments segment is expected to have the fastest growth in the forecast period.
Product Type Insights
In 2022, the Global Powered Surgical Instrument Market largest share was held by Handpiece instruments segment in the forecast period and is predicted to continue expanding over the coming years.
The Power disposable segment is expected to have the fastest growth in the forecast period.
Application Insights
In 2022, the Global Powered Surgical Instrument Market largest share was held by Orthopaedic segment and is predicted to continue expanding over the coming years.
The plastic surgery segment to have the fastest growth in the forecast period.
Regional Insights
The North America region dominates the Global Powered Surgical Instrument Market in 2022. Favorable reimbursement regulations, the local presence of major market participants, and government program that enhance access to sophisticated power equipment for surgical procedures & training sessions for physicians are important drivers of the region's growth.
Asia-Pacific region witnessed the fastest growth in the forecast period.
Recent Developments
- In August 2021, toprovide 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,Panther Healthcare has introduced the Smart Powered Stapler platform. Europe,the Middle East, Africa, Asia, and Latin America have all seen the device'srelease. The Smart Powered Stapler from Panther Healthcare is simpleto use and easy to master. It has a one-touch firing and opening system thatreduces the force needed to shoot while ensuring increased stability, which canimprove suture effectiveness and lower the risk of injury from accidentaloperation. According to the manufacturer, this contrasts with other poweredstaplers that have a steeper learning curve.
- In June 2022, The ECHELON 3000 Stapler,a digitally enabled tool that gives surgeons simple, one-handed poweredarticulation to help address the demands of their patients, has been launchedin the United States, according to Ethicon, a division of Johnson & JohnsonMedTech. With ECHELON 3000, surgeonshave improved access to and control over each transaction, even when workingwith difficult tissue or in confined places. These capabilities enable surgeonsto make crucial modifications throughout surgeries, in combination withsoftware that provides real-time haptic and audio device feedback. Whencompared to the Medtronic Signina Stapling System, ECHELON 3000 offers the samecapabilities for advancing staple line security and delivering fewer leakagepaths at the staple line as the ECHELON+ Stapler with GST Reloads.
Key Market Players
- Johnson& Johnson
- BraunMelsungen Ag
- StrykerCorporation
- MedtronicPLC
- Smith& Nephew PLC
- ZimmerBiomet Holdings Inc.
- ConMedCorp.
- DesoutterMedical Ltd
- AdeorMedical AG
- PantherHealthcare
- AlloTechCo. Ltd
| By Type of Power Source | By Product Type | By Application | By Region | By Region |
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