Powered Surgical Instruments Market report categories the global market by Product (Stapler, Drill, Saw, Battery, Reamer, Console, Blade, Cables, Burr, Cart), Application (ENT, Orthopedic, Thoracic, Oral, Neurology) & by Power Source (Battery, Electric, Pneumatic) & Geography
Dallas, TX -- (SBWIRE) -- 02/23/2015 -- The global powered surgical instruments market is estimated to be worth around $1.5 to 1.6 billion in 2014 and is expected to grow at a moderate CAGR during the forecast period of 2014 to 2019.
This market is mainly driven by increasing aging population, high prevalence of chronic disorders requiring surgical interventions, and high disposable income among consumers. Moreover, rapid technological innovation is also contributing highly to the growth of this market. However, market growth is restricted inadequate quality assurance, lack of proper sterilization practices for equipment, and high price competition among manufacturers.
The global powered surgical instruments market is divided on the basis of power source, product, and application. Based on type of power source, the market is mainly segmented into electric-powered instruments, battery-powered instruments, and pneumatic instruments. The surgical power tools product market is divided into handpieces; power source and control; and accessories. The handpieces market is further segmented into drill systems, saw systems, reamer systems, staplers, vessel sealing devices, suction coagulators, laparoscopic instruments, shavers, wire/pin drivers, and others. Likewise, the power source and control market is segmented into electrosurgical units, batteries and chargers, electric consoles, and regulators. The accessories market is sub-segmented into surgical accessories, electrical accessories, and other accessories.
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The market, by application, is classified into orthopedic surgery, oral maxillofacial surgery, ENT surgery, neurosurgery, plastic and reconstructive surgery, and cardiothoracic surgery.
The powered surgical instruments market is further divided into four major regions North America, Europe, Asia-Pacific, and Rest of the World (RoW). These regions are further analyzed at the country-level. The research report discusses key market drivers and restraints of, and the opportunities in, the global market and its submarkets.
In 2013, the electric-powered instruments segment accounted for the largest share of the market. This can be attributed to the low prices of these instruments, and their applications in orthopedic surgery, oral surgery, ENT surgery, neurosurgery, plastic and reconstructive surgery, and cardiothoracic surgery. However, the battery-powered surgical instruments segment is expected to grow at the highest CAGR in the market during the forecast period.
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North America represented the largest regional market in 2013, followed by Europe, Asia-Pacific, and RoW. North America and Europe are expected to witness lower growth rates in the coming years than the Asia-Pacific market. The Asia-Pacific region represents the fastest-growing market for powered surgical equipment and accessories, primarily due to the increasing medical tourism, rising prevalence of chronic diseases that require surgical procedures, and increased accessibility to healthcare facilities in the region.
Major players in the market include B. Braun Melsungen AG (Germany), CONMED Corporation (U.S.), Covidien Plc (Ireland), Johnson & Johnson (U.S.), Medtronic, Inc. (U.S.), Stryker Corporation (U.S.), and Zimmer Holdings (U.S.).
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