New York, NY, June 21, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Powered Surgical Instruments Market by Power Source (Electric, Battery, and Pneumatic), Product (Drill, Saw, Stapler, Reamer, Battery, Console, Cables, Blade, Burr, and Cart), and Application (Orthopedic, ENT, Oral, Thoracic and Neurology): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023”. According to the report, the global powered surgical instruments market was valued at around USD 2.03 billion in 2017 and is expected to reach around USD 2.54 billion by 2023, growing at a CAGR of 4.47 % between 2017 and 2023.
Surgical care is essential to treat a medical condition such as a disease or injury to repair ruptured areas or to improve bodily function or appearance. Powered surgical instruments are used for cutting, sawing, reaming and to perform many functions during surgery particularly involving hard tissue like bone or teeth. During the past few years, powered surgical instruments market has witnessed a continuous growth. The increase in the volume of surgeries around the world due to chronic medical conditions has augmented the growth of the market.
Browse through 99 Tables & 15 Figures spread over 110 Pages and in-depth TOC on "Global Powered Surgical Instruments Market Size & Share 2017: Industry Demand, Trends, Growth Analysis and Forecast, 2023”.
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Growing shift of surgeons towards the utilization of powered surgical instruments in surgical procedures is growing the demand for powered surgical instrument market. In addition, increase in the rate of orthopedic conditions, physical injuries, muscle skeleton fractures, ENT, neurological diseases around the world is expected to augment the growth of powered surgical instruments market in the forecast period. However, stringent regulatory policies, lack of awareness may hinder the growth of this market. Nonetheless, technological developments, unmet medical needs, ongoing research on developing robust and handy surgical instruments is expected to offer lucrative opportunities over the next few years.
The powered surgical instruments market is categorized based on power source, product, application, and region. On the basis of the power source, powered surgical instruments market is divided into electric, battery and pneumatic instruments. On the basis of product, the market is divided into the drill, saw, stapler, reamer, battery, console, cables, blade, burr, and cart. Application segment of powered surgical instruments includes orthopedic, ENT, oral, thoracic and neurology.
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North America emerged as the largest market for powered surgical instruments market and it accounted for the most market share of total revenue generated in 2017. The dominance of North America is due to rising volume of orthopedic, dental, oral, neurological, cardiovascular surgeries. The U.S. represents the largest powered surgical instruments market in this region. The frequency of surgical procedures is rising in this region. In between 2001 to 2016 the prevalence of musculoskeletal procedures has drastically increased in the U.S, from 17.9% to 24.2%. The growing incidence of chronic Musculoskeletal disorders in geriatric population and implementation of powered surgical instruments in treatment and diagnosis is expected to augment the growth of medical powered surgical instruments market in North America in the forecast period.
Europe is likely to be the second largest regional market and is expected to show strong growth in the years to come. Europe powered surgical instruments market is driven by the use of new technologies, higher demand for quality products and wide adoption of medical devices in surgical treatment and lenient regulatory structure in this region. The U.K. represents the largest powered surgical instruments market in this region. The growth in this market is credited to the increased demand for surgical instruments due to rising number of surgical procedures with rising prevalence & incidence of physical traumas and chronic diseases. In addition, government reimbursement policies and good economic conditions promote the growth in this region.
Browse the full "Powered Surgical Instruments Market by Power Source (Electric, Battery and Pneumatic), Product (Drill, Saw, Stapler, Reamer, Console, Cables, Blade, Burr and Cart), Application (Orthopedic, ENT, Oral, Thoracic and Neurology): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023." report at https://www.zionmarketresearch.com/report/powered-surgical-instruments-market
The Asia Pacific is expected to witness the fastest growth in the near future. Rising geriatric population, rising medical tourism and expanding medical device industry are the major factors driving the growth of powered surgical instruments market in the Asia Pacific. Latin America and Middle East & Africa are emerging markets growing with significant growth. Increasing healthcare industry in Brazil and rest of Latin America is anticipated to fuel the market growth in the region. Middle East & Africa is estimated to witness steady growth during the forecast period.
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Some of the key players operating in the market such as Stryker Corporation, Johnson & Johnson, Medtronic, Inc., B. Braun Melsungen AG, Conmed Corporation, Smith & Nephew and Zimmer Holdings.
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This report segments the powered surgical instruments market as follows:
Global Powered Surgical Instruments Market: Power Source Analysis
- Electric
- Battery
- Pneumatic
Global Powered Surgical Instruments Market: Product Analysis
- Drill
- Saw
- Stapler
- Reamer
- Console
- Cables
- Blade
- Burr
- Cart
Global Powered Surgical Instruments Market: Application Analysis
- Orthopedic
- ENT
- Oral
- Thoracic
- Neurology
Global Powered Surgical Instruments Market: Application Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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