Powered surgical instruments are essential medical devices that are used in surgical procedures to perform precise cuts, dissect tissues and clamp vessels. Key types of powered surgical instruments include power drills, saws, blades, shavers and staplers. These devices offer advantages such as accuracy, precision and control over hand-operated tools that enable minimally invasive surgeries and facilitate faster recovery. The increased preference for minimally invasive surgeries among patients as well as surgeons due to benefits like smaller incisions, reduced blood loss, lower risk of infections and shorter hospital stays has augmented the demand for powered surgical instruments globally.
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 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing adoption of minimally invasive surgeries presents a major market opportunity for powered surgical instruments. According to a report by Grand View Research, the global minimally invasive surgery market size was valued at US$ 19.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. Powered surgical tools aid key steps in minimally invasive procedures like suturing, stapling, coagulation and others with enhanced precision. Hence, as the preference for minimally invasive techniques rises owing to benefits like smaller incisions and quicker recovery times, the demand for advanced powered instruments that facilitate such surgeries will also witness significant growth over the forecast period. Manufacturers can capitalize on this opportunity by developing technologically advanced tools tailored for various minimally invasive applications.
Porter's Analysis
Threat of new entrants: The powered surgical instruments market requires high research and development costs which acts as a major barrier for new companies. The market also has stringent regulations from medical regulatory bodies which increases compliance costs.
Bargaining power of buyers: The buyers include hospitals, clinics and ambulatory surgical centers. Individual buyers have low bargaining power owing to the specialized nature of products however group purchasing organizations have better negotiating power to get price discounts.
Bargaining power of suppliers: The market has few major players manufacturing essential components like blades, motors and batteries used in powered instruments. This provides them higher bargaining power over companies.
Threat of new substitutes: There exists a low threat of substitute products as powered surgical instruments have become standard for many minimally invasive surgeries.
Competitive rivalry: The market has few large multinational players and rivalry is high based on product innovation, quality and pricing.
SWOT Analysis
Strengths: Powered instruments enhance precision, control and efficiency of surgeries. They reduce procedure time and hospital stay.
Weaknesses: High costs of purchase and maintenance compared to conventional instruments. Steep learning curve for new technologies.
Opportunities: Growing geriatric population and chronic diseases is increasing surgical volumes. Emerging economies provide high growth opportunities.
Threats: Pricing pressure to drive volumes. Stringent regulatory environment increases compliance costs.
Key Takeaways
The Global Powered Surgical Instruments Market Share is expected to witness high growth. 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 2031.
North America currently dominates the market owing to high healthcare expenditure and technological advancements. However Asia Pacific is fastest growing region due to growing medical tourism, healthcare infrastructure and expanding health insurance reach.
Key players operating in the powered surgical instruments market 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. Stryker Corporation and Johnson & Johnson are major players offering comprehensive powered product portfolio with continuous innovation.
Get More Insights Here
https://masstamilan.tv/data-governance-ensuring-trust-and-security-in-the-digital-era/
https://www.ukwebwire.com/powered-surgical-instruments-market-size-share-growth-outlook-2023/
The complete research framework on Global Powered Surgical Instruments Market reveals various influencing factors like growth factors, industry drivers, restraints, production techniques, latest market trends, market challenges, market extension and opportunities for beginners and established players in global runway lighting market.
As per the world economic evaluate growth rate of the past four years, market size is estimated from 220 million $ in 2014 to 245 million $ in 2017.
The Powered Surgical Instruments Market is expected to exceed more than US$ 300 million by 2022 at a CAGR of 3.65% in the given forecast period.
The prime objective of this report is to help the user understand market share distribution of number of key players in the market included are B. Braun Melsungen Ag, Medtronic, Inc., Johnson And Johnson, Stryker Corporation, Conmed Corporation, Smith And Nephew Plc, Microaire Surgical Instruments, Inc., Peter Brasseler Holdings, Llc., Zimmer Holdings, Desoutter Medical Ltd.The Powered Surgical Instruments Market research report helps to understand cost-effective data in the form charts, tables, graphs, and figures which helps to analyze the market growth rate, market share, and trends.
The Powered Surgical Instruments market provides the in-depth approach towards market segments depicts the market investment areas and marketing strategies to achieve informed growth in the market like revenue, import/export data, volume delivered (in kilo tons) and the income it produces (in US$), demand and supply data (as applicable).
Additionally, the Powered Surgical Instruments business development patterns and marketing stations have been analyzed.Request for free sample report @ https://www.indexmarketsresearch.com/report/global-powered-surgical-instruments-market/24136/#requestforsampleThe Powered Surgical Instruments Market covers company profiling, product picture and specifications, sales, market share and contact information of various international, regional, and local vendors of the market.
