Wilmington, Delaware, USA, Transparency Market Research Inc .: The global market for powered surgical instruments is expected to grow at a favorable pace from 2021 to 2031 (forecast period). The market for motorized surgical instruments has been constantly expanding in recent years.
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The increasing prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease and bone-related disorders, combined with an increase in surgical interventions, is likely to stimulate the global market for electrical surgical instruments throughout the forecast period. Additionally, the burgeoning geriatric population and increased awareness of the benefits of these tools are expected to contribute to global market growth.
Additionally, technological innovations, such as surgical robotics, are expected to propel the global surgical instrument market.
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Motorized surgical instruments market: competitive landscape
Major players in the global Surgical Instruments market are CONMED Corporation (United States), B. Braun Melsungen AG (Germany), Zimmer Holdings (United States), Johnson & amp; Johnson (United States), Stryker Corporation (United States), Medtronic, Inc. (United States) and Smith & amp; Nephew (United Kingdom).
Large companies constantly focus on developing state-of-the-art surgical devices. For example, powered surgical instruments, such as electrical and battery-powered equipment, are gaining popularity among surgeons due to their simplicity and effectiveness.
Motorized Surgical Instruments Market: Trends and Opportunities
The increase in the number of surgical procedures, combined with technological improvements such as robot-assisted surgical procedures, is expected to fuel the expansion of the global market for motorized surgical instruments. Furthermore, the growing population of elderly people around the world and the increasing frequency of lifestyle-related diseases are expected to increase the global market for electrical surgical instruments.
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According to data from the World Health Organization (WHO) for June 2021, cardiovascular disease is the leading cause of mortality worldwide. According to the report, approximately 17.9 million people died from cardiovascular disease in 2019, accounting for 32% of global deaths. A heart attack or stroke was responsible for 85% of these deaths. According to the same source, noncommunicable diseases accounted for 17 million premature deaths in 2019, with cardiovascular disease responsible for 38% of those deaths. As a result, the increasing worldwide prevalence of cardiovascular disease is estimated to increase the demand for surgical procedures, thereby propelling the global surgical instrument market.
Additionally, the growing demand for motorized surgical instruments in a variety of operations such as orthopedic surgery, neurosurgery, ENT surgery, plastic surgery, cardiovascular surgery, cardiothoracic surgery and others is likely to strengthen market growth. Furthermore, the growing penchant for minimally invasive surgeries is expected to increase the global market for motorized surgical instruments.
There has been a significant growth in the number of minimally invasive surgeries as most healthcare professionals prescribe such procedures for the treatment of various chronic ailments. Additionally, as people become more aware of the benefits of minimally invasive surgery, the global market for electrical surgical instruments is expected to expand.
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Motorized Surgical Instruments Market – Regional Panorama
The market for surgical instruments in North America is expected to grow during the projection period. Favorable reimbursement policies, the existence of major market players, and government programs that help access advanced power tools for medical procedures are key elements that can contribute to regional market growth.
The market for motorized surgical instruments in Asia Pacific is expected to expand, due to rising healthcare spending and the growing acceptance rate of motorized surgical instruments with robotic technology by doctors and hospitals. For example, the US-based Vattikuti Foundation revealed in 2017 that it is focusing on India to make it the second largest market in the world for robotic surgery after the US, with a goal of deploying 200 robots in hospitals. and move closer to the goal of 20,000 robotic surgeries per year by 2023. This is expected to drive the market for electrical surgical instruments in Asia Pacific.
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