Power surgical instruments provide reliability and precision to the surgeons. Rapid growth in the advancements in the medical instruments is creating plentiful opportunities for business growth in the medical and healthcare sector. Rise in the aging population and increased surgical procedures across the emerging markets are expected to drive the demand in the powered surgical instruments market. Improvements in the healthcare infrastructure around the developing parts of the world are also considered to be a vital driving factor for the industry. Key established players from the market are looking for healthy investments across different geographic regions.
Segmentation in the Market
Researchers segment the powered surgical instruments market is segmented on the basis of the types of power sources, products, and their application. The market is also segmented on the basis of demand patterns across different geographic regions. The types of power sources in the market are categorized into pneumatic, battery-powered and electric-powered equipment. Major product segments in the market are categorized into accessories, power source and controls and handpieces. Major application segments in the market are categorized into different types of surgeries, which include plastic and reconstructive, orthopedic, ENT, cardiothoracic, neurosurgery and oral maxillofacial surgery.
Market Drivers and Restraints
According to the experts, the global powered surgical instruments market is expected to be driven by rising demand from around the world. Growth in the aging population and increased surgical proceedings around the world are expected to influence the growth of this market. Rise in the global volume of minimal invasive and cosmetic surgeries along with surgical robotics are expected to drive the growth of this market. Growth in medical tourism and rise in the healthcare expenditure from around the world are also considered to be major driving factors for the global market. Major restraining factors for the market include need for skilled professionals, inadequate quality standards and high costs.
According to the latest research reports, the powered surgical instruments market is poised to witness growth at a steady CAGR of from 2014 to 2019. The researchers expect the market to reach $2.1 billion by the end of the year 2019. Growth in speciality hospitals and promotion of medical tourism across emerging markets are expected to create potential growth opportunities for this market on global scale. Emerging regions like Asia Pacific, Latin America, Middle East and Africa are expected to witness impressive growth opportunities with rise in the medical tourism and increased healthcare expenditure. North America is expected to dominate the global market in terms of overall market share.