Powered Surgical Instruments Market is Estimated To Witness High Growth Owing To Rising Number of Surgeries

Powered Surgical Instruments Market


Powered surgical instruments are powered by different sources like electricity, battery, and pneumatic. They help in performing complex surgeries easily and precisely. Some common powered surgical instruments are powered drills, saws, reamers, staplers etc. They provide accuracy and consistency during surgical procedures leading to better clinical outcomes.

The Powered Surgical Instruments Market is estimated to be valued at US$ 2.10 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends spurring the growth of powered surgical instruments market is rising number of surgeries performed globally. Accidents and other health conditions leading to injuries are increasing worldwide. This has resulted in growing demand for different types of surgical procedures like orthopedic, neuro, cardiovascular and dental surgeries. Powered surgical instruments help surgeons in efficiently carrying out such complex surgeries in less time with high precision. Their usage is leading to reduced procedural time, less tissue damage and blood loss during surgeries. This in turn is promoting their increasing adoption rate.

Porter's Analysis

Threat of new entrants: High capital requirements and stringent regulations by FDA make the entry of new players difficult in the powered surgical instruments market.

Bargaining power of buyers: Large number of buyers and availability of alternative products provides high bargaining power to buyers.

Bargaining power of suppliers: Established players have strong bargaining power over generic component suppliers due to specialized nature of products.

Threat of new substitutes: No major threat as powered instruments have become standard tools for most surgeries.

Competitive rivalry: Intense competition exists among existing players to gain higher market share.

SWOT Analysis

Strength: Advance technologies like robotics integrated instruments provide better precision. Wide product portfolio helps meet varied surgery needs.

Weakness: High R&D costs and pricing pressure from economically priced conventional tools.recalls dent brand image.

Opportunity: Emerging economies offer growth potential due to increasing healthcare spends and surgeries. Miniaturization leads to expanded applications.

Threats: Stringent regulations delay product approvals. Economic slowdown impacts discretionary healthcare spending.

Key Takeaways

Global Powered Surgical Instruments Market is expected to witness high growth at a CAGR of 4.0% over the forecast period, due to increasing number of surgeries worldwide. The market size is projected to reach US$ 2.90 Bn by 2030 from an estimated US$ 2.10 Bn in 2023.

Regionally, North America dominates the global market and is expected to maintain its lead through 2030. This is attributed to advantages like availability of advanced healthcare facilities and higher affordability in the region. Asia Pacific market is poised to exhibit fastest growth over the next few years due to growing medical tourism industry and improvingaccess to healthcare in major countries like China and India.

Key players operating in the powered surgical instruments market are Stryker Corporation, Johnson & Johnson, Medtronic plc, and CONMED Corporation. Stryker Corporation offers a broad range of powered surgical instruments for applications in orthopedic, ENT and neurosurgery through its flagship brands. 

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more