Powered surgical instruments are precision tools that utilize batteries, electricity or pneumatic power to perform surgical procedures with enhanced control, speed and functionality. These instruments integrate mechanical functions that otherwise require tedious manual work by surgeons. They include drills, saws, reamers and other tools powered by electrical motors or compressed gases. Powered tools perform complex joint reconstruction, osteotomy and dental surgery procedures with greater efficiency and higher success rates compared to traditional manually operated instruments. The integration of advanced power transmission, miniaturized electronics and new materials into these instruments is revolutionizing surgical specialties.
The Global Powered Surgical Instruments Market is estimated to be valued at US$ 2.42 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Powered Surgical Instruments are Aries Chemical, Inc., Arakawa Chemical Industries, Ltd., Atlas Organics Private Limited, GO YEN Chemical Industrial Co., Ltd., Haihang Industry, Kemira Oyj, Longkou Longpai Fine Chemical Industry Co., Ltd., Oleon NV, Plasmine Technology, Inc. and SEIKO PMC Corporation. These companies are focusing on developing innovative technologies for surgical procedures to improve clinical outcomes.
Growing demand for minimal invasive surgeries across various medical specialties is a key factor fueling the adoption of powered instruments. Advantages such as reduced post-surgery trauma, quicker recovery times and lower risk of complications are driving patients towards minimally invasive options. Increasing investments by hospitals and ambulatory centers to strengthen surgical departments are further propelling the uptake of advanced powered tools.
Major players are also expanding their global footprint through acquisitions and partnerships to consolidate their market presence. For instance, Stryker acquired Wright Medical in 2021 to strengthen its position in extremities and biologics categories. Similarly, Zimmer Biomet partnered with Apple to develop augmented reality assisted surgical procedures. Such strategic moves will facilitate wider availability and adoption of powered surgical technologies worldwide.
Market drivers:
The rapid increase in geriatric population susceptible to age-related conditions like orthopedic disorders is a major driver for the Powered Surgical Instruments Market Size . According to the UN, the number of people aged 65 years or older is projected to reach 1.5 billion by 2050 from 727 million in 2020. Also, the growing prevalence of lifestyle diseases such as obesity is resulting in higher joint replacement procedures. This increased disease burden will augment the demand for effective powered tools in the coming years. Additionally, technological advancements are leading to specialized robotic platforms with superior precision andreduced manual errors compared to conventional methods. This is also positively impacting the market growth.
The current geopolitical situation is significantly impacting the growth of the powered surgical instruments market. The ongoing Russia-Ukraine conflict has disrupted the global supply chain and trade networks, leading to increased costs of raw materials and components. This is negatively affecting the production and distribution of powered surgical instruments. At the same time, healthcare budgets across many countries are diverting funds towards war efforts, reducing capital investments in latest surgical technologies.
To sustain growth in this market, companies must focus on diversifying their supply networks and establishing multiple manufacturing/assembly hubs globally. They also need to strengthen their distribution and service networks in different geographical regions to minimize dependence on any single region. Adopting a decentralized operational model can help mitigate geopolitical risks. Companies may also consider price revisions to offset inflationary cost pressures. Cooperating with local players in different markets can help gain approvals and market access faster.
In terms of value, North America currently dominates the powered surgical instruments market owing to advanced healthcare infrastructure, higher medical spending and growing geriatric population undergoing various surgeries. Western Europe is also a major regional market supported by favorable reimbursement policies and technological advancements. Meanwhile, Asia Pacific is likely to be the fastest growing regional market for powered surgical instruments during the forecast period. This can be attributed to rising medical tourism, increasing health awareness and improving access to healthcare in developing countries like China and India.
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