The global powered surgical instruments market size was valued at USD 2.05 billion in 2018 and is expected to grow at a CAGR of 3.8%. Rising incidence of chronic diseases, such as diabetes, cancer, cardiovascular diseases, and bone-related disorders, coupled with a rise in the number of surgical procedures, is expected to propel the market over the forecast period. Moreover, increasing geriatric population and growing awareness about the advantages of these instruments are expected to further boost the market.
Powered surgical instruments are complex devices beneficial useful for improving efficiency and consistency during critical surgical procedures. These instruments are designed for cutting, drilling, sculpting, shaving, and ultrasonic cell disruption and are commonly used in orthopedic, cardiovascular, neurosurgery, plastic reconstruction surgery, & other surgeries.
Technological advancements and innovations in robotic surgery have significantly aided growth. Some of the key drivers are an increase in the prevalence of lifestyle diseases, a rise in healthcare spending, an increase in medical tourism, and improvement inaccessibility to healthcare facilities. Also, increasing the adoption of minimally invasive and robotic & computer-assisted surgeries is expected to further propel the market.
The availability of powered instruments in various forms allows surgeons and medical staff to choose the right instrument for a surgical procedure. However, increasing pressure on healthcare providers for reducing costs, inadequate sterilization processes, and insufficient quality assurance may hamper the market over the forecast period. The rise in the number of conventional surgeries has created a massive demand for modern surgical tools and techniques. Electrically powered instruments, such as electrosurgical units, facilitate easy surgical interventions at Ambulatory Surgical Centers (ASCs) or clinics, eliminating the need for a designated hospital setting. Outpatient settings usually reduce the cost of surgery and facilitate shorter surgery time, thereby minimizing hospital stay.
According to OMICS International Conferences, 2015, approximately 234 million surgical procedures are performed annually. Furthermore, the 2017 Plastic Surgery Report released by the American Society of Plastic Surgeons stated that 17.5 million minimally invasive surgical procedures were performed in 2017, indicating a 2% rise from the previous year. These facts highlight that there will be a steadily increasing demand for plastic surgeries in the coming years. As a result, the usage of powered surgical instruments is anticipated to rise over the forecast period. According to an article by the Agency for Healthcare Research and Quality, in 2012, the ratio of surgical visits or stays was 46.9% for inpatient settings and 53.1% for ambulatory settings across 28 states. All these factors are expected to boost the demand for surgical instruments in the forecast years.
By product, the market has been segmented into handpiece instruments, power source & control, and accessories. Handpiece instruments accounted for the largest share, at over 40%, in 2018. The segment is anticipated to maintain its lead over the forecast period, owing to features such as higher power, better efficiency, lightweight frames, and ease of use over other instruments. Handpiece instruments are further divided into drill systems, reamers, saws, staplers, shavers, and others. The power source & control segment is divided into batteries, electric instruments, and pneumatic instruments. The accessories segment is divided into surgical and electric accessories.
Power source & control is expected to be the fastest-growing segment over the forecast period. Factors such as government support in certain countries, favorable reimbursement systems, advancements in technology, and growing preference for minimally invasive surgical procedures are expected to drive the growth of this segment. Demand for power source & control products is further boosted by the growth in the incidence of sports injuries and the number of reconstruction surgeries, augmenting growth.
Based on the application, the market is segmented into orthopedic, neurosurgery, ENT, cardiology, plastic surgery, and others. Orthopedic powered instruments accounted for the highest share in 2018, owing to a globally large geriatric population and increasing prevalence of accidents & bone diseases.
The plastic surgery segment is expected to grow at a rapid pace over the coming years, owing to rising awareness about these options, social media influence in favor of plastic surgeries, an increase in the number of road accidents, and growing geriatric population. Besides, improving diagnosis methods & imaging technologies, the introduction of new products, mergers & acquisitions, and favorable reimbursement policies are likely to boost the market growth.
North America dominated the powered surgical instruments market in 2018 and is expected to maintain its position over the forecast period. Key factors contributing to the region’s growth include favorable reimbursement policies, local presence of key market players, and government initiatives that improve access to advanced power instruments for surgical procedures & training sessions for physicians. In 2015, Global Surgery Initiative (GSI) was launched by the Department of Surgery at Massachusetts General Hospital to help establish international partnerships that may enhance medical technologies and improve surgical efficiency.
The Asia Pacific is anticipated to grow at maximum pace during the forecast period, owing to increasing investment by governments and global players in the region. Japan and China are major contributing countries in APAC. Government initiatives to incorporate improvements in reimbursement policies and growing awareness are other factors anticipated to support market growth during the forecast period.
Some of the prominent players are Allotech Co., Ltd., Conmed Corporation, Medtronic PLC, Stryker Corporation, Zimmer Biomet, adeor medical AG, Smith and Nephew plc, B Braun Melsungen AG, MicroAire Surgical Instruments, LLC, and De Soutter Medical Ltd. Major companies are increasingly focusing on the introduction of technologically advanced surgical instruments. For instance, powered surgical instruments, such as battery-powered and electric-powered, are witnessing a high adoption rate among surgeons, owing to their ease of usage and effectiveness.
In December 2018, Smith & Nephew Plc acquired Ceterix Orthopaedics, Inc. for USD 105 million. The company is a developer of Novostitch Pro, a meniscal repair system developed for arthroscopy knee repair. The acquisition could help Smith & Nephew provide surgeons with a novel treatment option that can cater to unmet medical needs.
Report Attribute |
Details |
The market size value in 2020 |
USD 2.2 billion |
The revenue forecast in 2026 |
USD 2.8 billion |
Growth Rate |
CAGR of 3.8% from 2019 to 2026 |
The base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2026 |
Quantitative units |
Revenue in USD million and CAGR from 2019 to 2026 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product, application, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain China; Japan; India; Australia; South Korea; Mexico; Brazil; Colombia; Argentina; South Africa; Saudi Arabia; UAE |
Key companies profiled |
Allotech Co., Ltd.; Conmed Corporation; Medtronic PLC; Stryker Corporation; Zimmer Biomet; adeor medical AG; Smith and Nephew plc; B Braun Melsungen AG; MicroAire Surgical Instruments, LLC; De Soutter Medical Ltd. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, & country levels as well as provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the powered surgical instruments market report based on product and application.
Product Outlook (Revenue, USD Million, 2015 - 2026)
Handpiece
Drill system
Reamer system
Saw system
Stapler
Shaver
Others
Power source and control
Electric instruments
Battery power instruments
Pneumatic instruments
Accessories
Surgical accessories
Electrical accessories
Application Outlook (Revenue, USD Million, 2015 - 2026)
Orthopedic
Neurosurgery
ENT surgery
Cardiovascular surgery
Plastic surgery
Others
Regional Outlook (Revenue, USD Million, 2015 - 2026)
North America
The U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
Australia
India
Latin America
Brazil
Mexico
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.