The global powered surgical instruments market size is expected to reach USD 2.8 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.8%. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness and affordability of plastic or reconstructive surgeries and surgeries for sports injuries is likely propel growth over the forecast period.
Increase in factors such as demand for minimally invasive surgeries & robot-aided procedures as well as improving accessibility to healthcare is contributing to growth. In addition, increasing geriatric population and rising awareness about availability of surgical procedures are likely to boost the market.
Increase in number of road accidents and rising healthcare expenditure in emerging economies are other factors likely to boost revenue generation in the market. According to the U.S. Census Bureau, the global healthcare expenditure is expected to reach USD 18.28 trillion by 2040, growing at a CAGR of 2.6%. According to WHO, the global population aged 60 years and above is expected to reach 2 billion by 2050, from 900 million in 2015. This demographic is more susceptible to a vast number of diseases, increasing the need for effective treatments, thereby boosting the market.
Powered Surgical Instruments Market Report Highlights
• North America accounted for the largest share of over 42.0%, owing to high prevalence of chronic disorders, favorable reimbursement policies, presence of key players, and government initiatives.
• Asian countries are estimated to show the highest growth rate of 5% over the forecast period, due to an increasing adoption of advanced technologies, increasing investments, improving reimbursement scenario, and increasing medical tourism.
• Handpiece powered surgical instruments is expected to dominate over the forecast period. It accounted for more than more than 40.0% of share in 2018.
• Based on application, orthopedic, followed by cardiovascular surgery, were leading segments in the market, owing to high use of powered instruments, rising geriatric population, and growing incidence of osteoporosis and heart conditions.
• Key players in powered surgical instruments market are opting for strategies, such as partnerships & acquisitions, introduction of new products, and investments in new technologies, to expand their product portfolio and to strengthen global footprint. For instance, in November 2018, Stryker Corporation announced acquisition of K2M Group Holdings, Inc., thereby expanding its product portfolio.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/powered-surgical-instruments-market
Powered Surgical Instruments Market Segmentation
Grand View Research has segmented the powered surgical instruments market on the basis of product, application, and region:
Powered Surgical Instruments Product Outlook (Revenue, USD Million, 2015 – 2026)
• Drill system
• Reamer system
• Saw system
• Power Source and control
• Electric instruments
• Battery power instruments
• Pneumatic instruments
• Surgical accessories
• Electrical accessories
Powered Surgical Instruments Application outlook (Revenue, USD Million, 2015 – 2026)
• Orthopedic surgery
• ENT surgery
• Cardiovascular surgery
• Plastic surgery
Powered Surgical Instruments Regional Outlook (Revenue, USD Million, 2015 – 2026)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/powered-surgical-instruments-market/request/rs1
Browse More Related Report:
Hand-held Surgical Instruments Market Size, Share & Trends Analysis Report By Product (Forceps, Retractors), By Application (Obstetrics & Gynecology, Orthopedic), By End Use, And Segment Forecasts, 2019 – 2025
Urology Surgical Instruments Market Analysis Report By Product (Endoscopes, Endovision Systems, Peripheral Systems, Consumables & Accessories), By Application (CKD, Urinary Stones, Oncology), And Segment Forecasts, 2018 – 2025
About Grand View Research
Grand View Research is a market research and consulting company based in the State of California with headquarters in San Francisco. The company offers consulting services tailored for business organizations to assist them with understanding and exploring their potential on a large scale. At the same time, Grand View Research caters to the individual research needs to provide a customized research service.
Grand View Research is fully committed to offer the best research services in the Industry. Our dedicated team of experienced analysts offer full capability and potential to precisely understand your research needs.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States