Powered Surgical Instruments Market Report 2023: Advancements and Innovations in Robotic Surgery Present Opportunities - ResearchAndMarkets.com

The "Powered Surgical Instruments Market by Product (Handpiece, Power Source & Control, Accessories), by Application, and by Region - Global Forecast To 2022-2033" report has been added to ResearchAndMarkets.com's offering.

The powered surgical instruments market size is estimated to be USD 2,452.5 million in 2022 and is expected to witness a CAGR of 4.57% during the forecast period 2023-2033.

Rising demand for surgical procedures, growing incidence of chronic diseases such as diabetes, cancer, cardiovascular diseases, & bone-related disorders, increasing healthcare spending, increasing geriatric population, and growing awareness about the advantages of these instruments are some of the factors contributing to the market growth.

Furthermore, increasing prevalence of brain cancers across the globe, technological advancements and innovations in robotic surgery, an increase in medical tourism, and improvement inaccessibility to healthcare facilities, are other factors supporting the market growth.

However, increased pressure on healthcare providers to save costs, lack of suitable compensation in some countries, expensive cost of modern power instruments, under-skilled experts, inadequate sterilizing procedures, and insufficient quality assurance is expected to hinder the growth.

Rising demand for surgical procedures is expected to fuel the market growth during the forecast period. The variety of powered instruments on the market makes it possible for surgeons and medical professionals to select the ideal instrument for a surgical procedure. There is a huge demand for contemporary surgical instruments and methods as the number of traditional surgeries rises. Electrosurgical units are electrically powered equipment that make simple surgical operations possible at Ambulatory Surgical Centres (ASCs) or clinics without the requirement for a specific hospital setting.

Increasing prevalence of brain cancers across the globe is predicted to propel the market growth during the forecast period. CNS cancers are known to have significant rates of mortality and metastasis. Thus, a variety of brain procedures are carried out to remove tumours, all of which call for the use of powered surgical instruments.

Segmentation

By Product

The market is categorized into Handpiece (Stapler, Drill system, Saw system, Reamer system, Shaver), Power source & control (Electric, Battery power, Pneumatic instruments), and Accessories (Electrical, Surgical accessories). In 2022, the handpiece segment accounted for the highest revenue share due to the owing to the rising demand for advanced drills and saws tools in orthopedic surgery due to the features such as higher power, better efficiency, lightweight frames, and ease of use over other instruments.

Handpiece segment is further divided into drill system, reamer system, saw system, stapler, and shaver. Enhanced compatibility with a wide range of reusable and disposable accessories, optimal power flow features, and flawless surgical delivery make it the go-to option for surgical professionals. Handpieces can also be employed in a variety of surgical operations, which greatly contributes to the segment's growth. On the other hand, the power source & control segment is anticipated to exhibit the quickest CAGR during the forecast period.

The power source & control segment is further sub segmented into electric, battery power, and pneumatic instruments. The development of this market is anticipated to be fueled by elements including government support in some nations, favorable reimbursement systems, technological improvements, and increased preference for minimally invasive surgical treatments. Because to its ease of use and lack of a lead, battery-powered power tools are becoming more and more popular.

Moreover, battery packs can be disinfected using a variety of techniques such gamma rays, ethylene oxide gases, and hydrogen peroxide gases, which dramatically lowers the likelihood of infections. Power source and control product demand is anticipated to help fuel expansion by increasing the frequency of sports-related injuries and the number of reconstructive surgeries.

By Application

The market is divided into neurosurgery, orthopedic, cardiovascular surgery, plastic surgery, and ENT surgery. In the global market, the orthopedic segment accounted for the largest revenue share in 2022 owing to a substantial worldwide elderly population as well as an increase in accidents and bone illnesses. Market participants are also concentrating on ongoing developments and the introduction of novel products to acquire a competitive edge in the industry.

For instance, in December 2021, The UNIUM System was introduced by DePuy Synthes as the newest product in its line of Power Tools. The device can be utilized for tiny bone, sports medicine, spine, and thorax treatments and is developed for ergonomics, dependability, and efficiency in the trauma setting. Hence, it is projected that all the variables will spur segment expansion during the forecast period.

Additionally, the plastic surgery segment is anticipated to grow at a fastest CAGR during the forecast period owing to an increasing older population, increased road accidents, expanding social media influence in favor of cosmetic procedures, and increased knowledge about these alternatives. Moreover, advances in diagnosis techniques and imaging technology, new product launches, and advantageous reimbursement policies are predicted to fuel market expansion.

The growing demand for powered surgical instruments is anticipated to be fueled by the rising popularity of plastic and reconstructive procedures. This will create a favorable environment for the growth of the powered surgical instruments market. For instance, according to the American Society of Plastic Surgeons' Plastic Surgery Statistical Report, in the United States 15.6 million treatments were carried out in 2020. The top five reconstructive surgeries in 2020, according to the research, were maxillofacial surgery, tumor removal, scar revision, laceration repair, and hand surgery.

Regional Markets

In 2022, North America region accounted for the highest revenue in the powered surgical instrument market during the forecast period. The prevalence of chronic diseases, rising surgical volume, older patients expecting higher levels of function, favorable reimbursement policies, local presence of major market players, and government initiatives that improve access to cutting-edge power instruments for surgical procedures & training sessions for doctors are all cited as contributing factors. Also, the introduction of new products and their acceptance by consumers will drive the market's expansion to new heights.

For instance, in September 2020, The US Food and Drug Administration granted Medtronic Powered Surgical Solutions marketing approval for the Midas Rex'm attachments and dissecting tools, which include the subject attachments and dissecting tools, electric and pneumatic drill handpieces, and system accessories, thereby expanding the market. Additionally, the Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to government and international players are investing more in the area.

Major contributors to APAC include China and Japan. Other factors that are projected to boost market expansion over the forecast period include increased awareness and government initiatives to integrate changes in reimbursement rules. For instance, in September 2021, Panther Healthcare unveiled the Smart Powered Stapler platform, which offers intelligent and automatic control over tissue compression, transection, and resection for gastrointestinal (including bariatric), thoracic.

Competitor Insights

• In June 2021, Stryker acquired the 510k approval from the US Food and Drug Administration (FDA) for its Stryker iBur hubs and cutting accessories, which are designed to be utilised with the Stryker Core Consolidated Operating Room (CORE) Console and electric and pneumatic motors
• In December 2021, Bioventus Inc.'s neXus BoneScalpel AccessTM handpiece has been given 510(k) clearance by the US Food and Drug Administration (FDA), the world authority on active healing innovations
• In April 2021, The US Food and Drug Administration gave adeor medical AG's Velocity Alpha High speed Surgical Drill System the go-ahead for rapid sawing, drilling, and manipulation of soft tissue and bone

Segmentation: Powered Surgical Instruments Market Report 2022 - 2033

By Product (Revenue, USD Million), 2022 - 2033

Handpiece

• Stapler
• Drill System
• Saw System
• Reamer System
• Shaver

Power Source & Control

• Electric
• Battery Power
• Pneumatic Instruments

Accessories

• Electrical Accessories
• Surgical Accessories

By Application (Revenue, USD Million), 2022 - 2033

• Neurosurgery
• Orthopaedic Surgery
• Cardiovascular Surgery
• Plastic Surgery
• ENT Surgery

By Region (Revenue, USD Million), 2022 - 2033

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA

Key Topics Covered:

1. Research Methodology

2. Introduction: Powered Surgical Instrument

3. Executive Summary

4. Market Dynamics

5. Market Environment Analysis

6. COVID-19 Impact Analysis: Powered Surgical Instrument Market

7. Market Analysis by Product

8. Market Analysis by Application

10. North America Powered Surgical Instrument Market

11. Europe Powered Surgical Instrument Market

12. Asia PacificPowered Surgical Instrument Market

13. Latin America Powered Surgical Instrument Market

14. MEAPowered Surgical Instrument Market

15. Competitor Analysis

16. Company Profiles

17. Conclusion & Recommendations

A selection of companies mentioned in this report includes

• Medtronic PLC
• Allotech Co. Ltd.
• Conmed Corporation
• MicroAire Surgical Instruments LLC
• Stryker Corporation
• De Soutter Medical Ltd
• Zimmer Biomet
• adeor medical AG
• B Braun Melsungen AG
• Smith and Nephew plc.

For more information about this report visit https://www.researchandmarkets.com/r/bfbid0

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