The global powered surgical instruments market is estimated to grow at phenomenal CAGR during the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for high precision and minimally invasive surgical devices is the primary market driver. Rising demand to reduce post-surgical complications and to speed up recovery process can further fuel demand for powered surgical instruments.
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High prevalence of chronic disorders such as orthopedic conditions, cardiovascular diseases, cancer, and neurological diseases is anticipated to increase number of surgical procedures. This, in turn, can positively influence growth of the powered surgical instruments market in the forthcoming years. In addition, rising adoption of minimally invasive surgeries using robotic surgical instruments for accuracy and fast post-surgical recovery can boost the market growth. Moreover, advancements in medical tourism coupled with favorable reimbursement policies are anticipated to impel market growth during the forecast period.
To cater to the rising demand for robotic surgical instruments, most companies are focusing on research and development (R&D) activities to develop new and innovative products. For instance, TransEnterix recently announced that it has received approval from the U.S. Food and Drug Administration (FDA) for expanded indications for its Senhance Surgical System. The company is now focused on commercialization of this system as it can support surgeons with greater haptic or tactile feedback and eye sensing camera control. After this approval, this surgical system can now be used to perform laparoscopic inguinal hernia and laparoscopic cholecystectomy (gallbladder removal) surgery.
However, frequent use of surgical instruments in multiple surgeries can increase the risk factor related to the entry of pathogens microbes in patient’s body. This can lead to serious infections and complications. The lack of sterilization procedures to disinfect powered surgical instruments can hinder market growth in the forthcoming years.
The worldwide powered surgical instruments market can be segregated on the basis of power source, application, and region. Based on power source, the market can be categorized into pneumatic, battery powered and electric powered surgical instruments. The electronic powered instrument segment is predicted to be largest segment in terms of volume over the forecast period.
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Based on application, the powered surgical instruments market can be classified into orthopedic surgery; cardiac surgery; ear, nose and throat (ENT) surgery; neuro surgery; oral surgery; and ophthalmic surgery. The cardiac surgery segment is expected to emerge as the largest application segment. Rising cases of cardiac disorders among geriatric population coupled with continuous technological advancements can contribute to the growth over the forecast period.
Regional segmentation of powered surgical instruments market includes Asia Pacific, North America, and Europe. North America followed by Europe had been dominating the market so far attributed to the high demand for robotic surgical instruments to execute complex surgeries. Substantial shortage of highly skilled surgeons is expected to influence regional demand for robotic surgical instruments. In addition, rising demand for minimally invasive surgeries attributed to reduced cost and less post-surgical complications is anticipated to further propel growth of market during the forecast period.
The Asia Pacific market for power surgical instruments is predicted to witness phenomenal growth during the forecast period attributed to availability of advanced healthcare facilities, skilled surgeons, and modern medical equipment. According to a report published by the Director General of Commercial Intelligence and Statistics of India in 2017, India is likely to be the top medical destination for patients to avail medical services in cardiology, orthopedics, neurology, and surgeries related to chronic diseases. This factor is anticipated to further boost the regional growth in near future.
Some of the leading companies in the powered surgical instruments market are Ethicon Inc.; Care fusion Corporation; KLS martin group; Alcon Laboratories Inc.; and Conmed Corporation. Most companies are expected to get involved in R&D activities to incorporate novel technologies to enhance usability of the powered surgical instruments.
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