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. 

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