Increasing volumes of surgical procedures coupled with technological advancements such as the introduction of robot assisted surgical procedures is expected to drive the growth of powered surgical instruments. Furthermore, rising demand for minimally invasive surgical procedures is one of the critical success factors for the growth of the market. According to estimates published by Ethicon Endo in 2013, nearly 850 surgical procedures took place out of which nearly 800 were minimally invasive procedures. The demographic trend of increasing population athwart the globe has provided corresponding rise to the prevalence of chronic diseases such as neurological, cardiovascular and orthopedic diseases. Afore, mentioned medical conditions leads to the increasing number of surgical procedures to be performed. Favorable reimbursement scenarios coupled with the advancement in medical tourism is expected to positively reinforce the powered surgical instruments market over the next six years. However, lack of sterilization procedure and continuous rise in the cost curbing measure amongst various healthcare establishments are few factors which are negatively affecting the growth of the powered surgical instruments over the estimated period.
On the basis of power source the market is segmented as battery powered, pneumatic and electric powered surgical instruments. Electric powered instruments are expected to be the largest segment. Furthermore, hand pieces, drills, reamers, saws, consoles, cables, laparoscopic instruments, ultrasound tissue disruptors, and perforators are the product segments are included in the scope of study. By application powered surgical instruments market can be segmented as oral surgery, orthopedic surgery, cardiac surgery, neurosurgery, ENT surgery, thoracic surgery, and ophthalmic surgery. Cardiac surgeries emerged as the largest application area. Increasing prevalence of cardiac diseases coupled with the advancements in minimally invasive cardiac surgical procedures is amongst few factors attributing for its large share.
North America emerged as the largest region closely followed by Europe in powered surgical instruments market owing to, the presence of sophisticated healthcare infrastructure and continuous R&D initiatives pertinent to the development of rapid and accurate surgical instruments. Asia Pacific is expected to be the most lucrative geographic area over the estimated period. Presence of unmet healthcare requirement coupled with favorable government initiatives pertaining to the development of healthcare infrastructure are few factors attributing for its growth rate. Furthermore, rising healthcare expenditure coupled with large population base in developing economies such as India, China and Japan is further expected to boost the growth of powered surgical instruments market.
KLS martin group, Alcon Laboratories Inc., Ethicon Inc., Carefusion Corporation, Conmed Corporation, Smith & Nephew PLC, MicroAire, Medtronic Inc.,Zimmer Holdings Inc. and Stryker Corporation are amongst few key players operating in powered surgical instruments market.
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