Global Powered Surgical Instruments Market Hit to $2.1 billion by 2019 - New Research Report by MarketsandMarkets
(PRWEB) December 22, 2014 -- In this report, the global powered surgical instruments market is segmented by power source, product, and application. The market, by power source, is segmented into electric-powered, battery-powered, and pneumatic instruments. By product, the market covers the handpieces; power source and control; and accessories segments. The handpieces market is further subdivided into drills, saws, reamers, staplers, vessel sealing devices, suction coagulators, laparoscopic instruments, shavers, wire/pin drivers, and others. Moreover, the power source and control is divided into electrosurgical units, batteries and chargers, electric consoles, and regulators.
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The accessories market is subdivided into surgical accessories, electrical accessories, and other accessories. Furthermore, on basis of application, the market is classified into orthopaedic surgery, oral maxillofacial surgery, ENT surgery, neurosurgery, plastic and re-constructive surgery, and cardiothoracic surgery.
The global powered surgical instruments market is expected to grow at a moderate CAGR during the forecast period of 2014–2019. The market is mainly driven by the growth in aging population and rising healthcare spending globally. However, the need for highly specialized technical knowledge and skills, and the continued pressure to reduce healthcare costs are hampering the growth of the market to a certain extent.
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The electric-powered surgical instruments segment accounts for the major share of the powered surgical instruments market. However, the battery-powered surgical instruments segment is expected to show the fastest growth. The segment is growing primarily due to rapid technological evolution and improvements in batteries, such as longer lifecycles, increased energy per volume, improved reliability, and increasingly greater energy density. These instruments provide greater flexibility to users as they are cordless and allow for greater control to surgeons to adjust the speed and torque of powered saws, drills, and reamers.
By 2019, North America contributed the largest share to the global powered surgical instruments market, followed by Europe, Asia-Pacific, and RoW. Developed geographies like North America and Europe are likely to grow at a lower CAGR as compared to the Asia-Pacific market, which is expected to show the fastest growth during the forecast period, largely driven by the increased healthcare spending, the advancing medical tourism industry, rising prevalence of chronic diseases, and increased accessibility to healthcare facilities.
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Major players in the powered surgical instruments market are B. Braun Melsungen AG (Germany), CONMED Corporation (U.S.), Covidien Plc (Ireland), Johnson & Johnson (U.S.), Medtronic, Inc. (U.S.), Stryker Corporation (U.S.), and Zimmer Holdings (U.S.), among others.
In 2013, Johnson & Johnson (U.S.) and Stryker Corporation (U.S.) were the leading players, together accounting for around 40% to 50% of the global powered surgical instruments market. Johnson & Johnson has a diversified product portfolio that includes a wide range of powered surgical products, including large bone, small bone, and high-speed powered surgical instruments and accessories. Stryker Corporation has extensive experience and expertise in this market, and a strong geographical presence with business operations in several geographies across the globe, including Europe, North America, Latin America, Asia, the Middle East, and Africa.
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