Powered surgical instruments are the complex surgical devices beneficial in providing functionality and consistency to critical surgical procedures. The developments in medical fields including orthopedics, neurology, cardiology, dentistry, and otology have played a key role in the development of the improved powered surgical instruments.
The mounting number of minimally invasive surgeries, increasing robotic aided surgical procedures, convenient accessibility to the healthcare, and growing preference for medical tourism are contributing to the growth of powered surgical instruments. Advancements in technology and introduction of wide range of products are fueling the growth of the market. Factors such as government support in selected countries, favorable reimbursement systems, and growing preference for minimally invasive surgical procedures are expected to further drive the global market for powered surgical instruments.
Some of the key players operating in this market are Johnson & Johnson Services, Inc., B. Braun Melsungen AG, CONMED Corporation, Medtronic, Stryker Corporation, Smith & Nephew, and Zimmer Biomet. To expand their product portfolio and to strengthen global footprint the companies are opting various strategies such as partnerships & acquisitions, introduction of new products, investments in technology, and many more. In November 2018, the Stryker Corporation announced acquisition of K2M Group Holdings, Inc resulting in expansion of product portfolio.
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