Increase in the number of surgical procedures is expected to fuel the demand for robust and cost-effective surgical instruments worldwide. Furthermore, the market has witnessed a paradigm shift in developed economies on account of replacing reusable surgical scissors with disposable scissors to prevent infection and avoid further complications.
Portland, OR -- (SBWIRE) -- 09/13/2017 -- According to a new report published by Allied Market Research, titled, "Surgical Scissors Market by Type, Material, and Model: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global surgical scissors market accounted for $462 million in 2016, and is estimated to reach $803 million by 2023, registering a CAGR of 8.2% from 2017 to 2023. Asia-Pacific was the highest revenue contributor to the global surgical scissor market in 2016. The Middle East is projected to witness the highest growth rate during the forecast period.
Surgical scissor is a medical instrument used for various surgical procedures such as, cardiac, neurological, orthopaedic, and others for shearing purposes. These scissors are of two types, namely reusable and disposable scissors. Although reusable scissors are less expensive as compared to disposable scissors; however, the latter is predominantly used in hospitals in the recent years. This is an ongoing trend among surgeons in developed nations, such as North America, to reduce the chances of infections during surgical procedures.
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The global surgical scissors market is driven by increased number of surgical procedures and growth in demand for cost-effective & robust surgical instruments globally. In addition, increase in geriatric population undergoing various surgical procedures is expected to fuel the market growth. However, chances of developing infection due to use of contaminated reusable scissor is expected to hamper the market growth.
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The reusable surgical scissors segment accounts for the highest market share in 2016 due to rapid utilization of reusable surgical scissors for conducting various surgical procedures. Moreover, technological advancements in surgical instruments are expected to boost the market growth in the near future. The ceramic scissors segment is expected to grow at the highest CAGR in the material segment during the forecast period, owing to high quality and precision offered by ceramic surgical scissors.
Key Findings of the Surgical Scissors Market:
- The ceramic segment is estimated to grow at the highest rate during the forecast period in terms of value as well as volume.
- The reusable surgical scissors segment generated the highest revenue to the global market in 2016, and is expected to continue its dominance in the near future.
- Asia-Pacific dominated the global market in 2016, and is projected to grow at a CAGR of 8.6% from 2017 to 2023.
- China is expected to grow at the highest CAGR of 11.5% in the Asia-Pacific reusable surgical scissors market.
- The operating scissor segment is anticipated to grow at the highest CAGR of 8.3% during the forecast period.
The key players profiled in the report include include KLS Martin LP, Integra LifeSciences Corporation, B. Braun, Scanlan International, World Precision Instruments, Skyline Surgical Instruments, Arthrex Inc., Becton, Dickinson and Company, and others.