POWERED SURGICAL INSTRUMENTS MARKET ANALYSIS

Powered Surgical Instruments Market Size and Trends

Global powered surgical instruments market is estimated to be valued at USD 2.31 Bn in 2024 and is expected to reach USD 3.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.

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Global powered surgical instruments market is expected to witness prominent growth over the forecast period, owing to  rising number of medical procedures globally due to growing geriatric population. The advancement in medical technologies has led to development of more advanced powered surgical tools with improved accuracy, efficacy and efficiency. Growing investments by key players to strengthen product portfolios through innovations can drive the market growth. However, high costs associated with powered instruments can hamper the market growth. Rising demand for minimally invasive surgeries and increasing product adoption across emerging nations can offer lucrative opportunities for the market growth.

Rising Prevalence of Chronic Diseases

Rising prevalence of chronic diseases can drive the market growth. Various chronic conditions such as cardiovascular diseases, diabetes, cancers are among the top causes of mortality as well as disability-adjusted life years lost worldwide. It is projected that chronic diseases accounted for almost three-quarters of all deaths globally in 2020. Aging population coupled with changing lifestyle factors have further contributed to high prevalence of chronic diseases. As chronic diseases often require surgical intervention for treatment, thus,  rising chronic disease burden boosts demand for various surgical procedures. Powered surgical instruments have become an integral part of many such procedures ranging from minimally invasive surgeries to complex reconstructive therapies. Their precision and control has improved outcomes for conditions that previously required highly invasive open surgeries. This has significantly boosted the uptake of powered instruments among healthcare facilities and surgeries. For instance, according to the American Academy of Orthopedic Surgeons (AAOS) Annual Report 2021, approximately 2.24 million primary and revision hip and knee arthroplasty procedures had been conducted over the past eight years. In February 2021, approximately 1.71 billion individuals globally were affected by musculoskeletal conditions. Growing prevalence of osteoporosis and osteoarthritis, rising incidents of road accidents and sports injuries, and an aging population can boost the number of procedures performed, contributing to market growth.

Market Concentration and Competitive Landscape

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Advancements in Minimal Access Surgery

Over the past decade, there has been tremendous progress in the field of minimal access surgery that utilizes small incisions and specialized instruments to conduct surgical procedures with lesser trauma to patients. Powered surgical instruments play a pivotal role in enabling procedures such as laparoscopic surgeries to become a mainstay for conditions that were traditionally managed through open surgeries. The introduction of powered energy devices, tissue sealing systems and robotic-assisted surgical platforms has allowed surgeries to be performed with improved precision, smaller incisions and quicker recovery times for patients. This has boosted demand for powered surgical instruments from healthcare facilities as well as patients' growing preference for minimal access techniques. Furthermore, ongoing technological innovations can expand the applications of minimal access surgery. New powered devices are being developed and approved for more complex procedures that previously required open approach. This ongoing expansion of surgical arena boosts uptake of powered instruments. The patient benefits and favorable outcomes associated with minimal access techniques can boost their adoption globally.

 Key Takeaways from Analyst:

Global powered surgical instruments market growth is driven by rising demand for minimally invasive surgeries among patients. Minimally invasive procedures reduce recovery time and risk of hospital-acquired infections. Growing geriatric population that is more susceptible to chronic diseases can boost demand for surgical treatments.

High costs associated with powered instruments can hamper the market growth, especially in price-sensitive developing regions. Lack of adequate reimbursement policies for minimally invasive surgeries can also hamper the market growth.  

North America region currently dominates the market and is expected to maintain its leading position over the forecast period. Rapid technological advancements and strong reimbursement systems drives the market growth in the region. Asia Pacific is projected to be the fastest-growing regional market due to increasing healthcare expenditures and improving access to healthcare in developing countries.

New product launches with innovative features can offer opportunities for market  players. Adoption of powered instruments in ambulatory surgery centers and office-based surgeries can also offer market growth opportunities.

Market Challenges: High cost of powered instruments

The high cost of powered surgical instruments can hamper the global powered surgical instruments market growth. Powered surgical instruments come with advanced technological features such as motors, controls and special attachments, which make the procedures more efficient. However, these advanced features and precision engineering leads to increase in cost of instrument. Most powered instruments include sophisticated electronics, circuitry and motion sensors that increases manufacturing costs. Stringent regulatory approvals and certification processes for medical devices can also increase the overall cost. Hospitals and ambulatory surgical centers are major end users of these instruments. However, high acquisition costs of powered instruments pose a significant budgetary challenge for many healthcare facilities in developing regions. According to the data published by World Bank, out-of-pocket expenditure on health as percentage of total health expenditure was highest in Low-income countries at approximately 59.5% in 2020. This indicates limited financial protection and constraints on robust public healthcare spending. High equipment costs restrict regular adoption especially in price-sensitive markets of Asia and Africa.

Market Opportunities: Healthcare infrastructure development

Global healthcare industry is undergoing a major transformation with increased focus on improving healthcare infrastructure and access to services across both developed and developing nations. Powered surgical instruments have become integral to modern healthcare delivery with advantages of improved precision, reduced procedure time and safety. As nations work towards achieving universal healthcare coverage and improving surgical care for a growing aging population, powered surgical instruments are poised to play a pivotal role. Development of stronger healthcare infrastructure provides a massive opportunity to boost adoption of advanced powered surgical instruments. Many countries are undertaking major reforms and making large investments to modernize their systems. For instance, the Indian government launched the Ayushman Bharat program with a budget outlay of US$ 6.19 billion until 2025 to set up 1.5 lakh health and wellness centers across the country and provide healthcare access to over 500 million citizens. Under its Healthy China 2030 plan, China has earmarked US$ 1.27 trillion until 2030 to strengthen primary care, reform public health services and elevate medical standards nationwide. The scale of these investments ensures growing demand for state-of-the-art medical technologies and equipment across wider geographic regions.

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Insights, By Product Type- Innovation in Surgical Tool Design and Precision of Surgeries Boost Handpiece Segment Growth

In terms of product type, handpiece segment is estimated to contribute the highest market share of 50.12% in 2024, owning to continual advancements and improvements in handpiece design that increase accuracy, control and ease-of-use for surgeons. Many new handpieces integrate advanced motion-sensing, vibration dampening and torque feedback mechanisms to allow for higher precision manipulation of surgical tools. This enables procedures like minimally invasive surgeries that require more delicate maneuvers. Specialized attachments for various functions like drilling, sawing or reshaping also extend the capability of handpieces. Their modular design further aids flexibility for different specialties.

Insights, By Application- Advancements in Joint Reconstruction Drive Orthopedic Segment Growth

In terms of application, orthopedic segment is estimated to contribute the highest market share of 30.12% in 2024, as rapidly aging global population need joint reconstruction surgeries like hip and knee replacements. Powered instruments have allowed orthopedic procedures to become increasingly less traumatic for tissue and bone. Developments in minimally invasive techniques have also shortened recovery times and decreased patient discomfort. Growing expertise among orthopedic surgeons has expanded the types of reconstructive procedures that can be performed effectively. This can drive the market growth as more complex cases are now clinically viable options. The orthopedic segment is primed for further expansion as new materials, implants and surgical robots improve outcomes for a widening range of musculoskeletal issues.

Insights, By End User- Increased Access and Preventative Care Boost Hospital Demand

In terms of end user, hospitals segment is estimated to contribute the highest market share of 35.21% in 2024, owing to their primacy in major surgical services. As healthcare infrastructure expands in developing nations through public and private initiatives, more communities gain access to full-service hospitals and specialized surgical facilities. This boosts demand for powered instrument technologies within hospitals to perform a higher volume and complexity of procedures. Growing emphasis on preventative healthcare has led to rising rates of lower-risk surgeries being conducted on an outpatient basis within hospital centers rather than in independent clinics. Hospitals additionally benefit from large purchasing agreements that provide discounts on high-ticket capital equipment like powered surgical systems.

Regional Insights

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Asia Pacific is currently a dominant player in the global powered surgical instruments market due to various factors that contribute to its robust growth with share of 39.2% in 2024. A burgeoning population, increasing healthcare expenditure, and growing prevalence of chronic diseases requiring surgical interventions are significant contributors to the market expansion in this region. Additionally, the rise in medical tourism due to the availability of cost-effective and advanced healthcare procedures in countries such as India, Thailand, and Singapore attract a considerable number of foreign patients. Moreover, the region's healthcare infrastructure is quickly developing, with a growing number of hospitals equipped with the latest medical devices, backed by government initiatives and investments in healthcare systems.

North America is recognized as the fastest-growing market for powered surgical instruments. This can be attributed to several driving forces, including the region's well-established healthcare infrastructure, high adoption rate of advanced technologies, and strong presence of leading market players who continuously innovate and launch new products. Furthermore, the region faces an increase in geriatric population susceptible to various ailments that require surgical procedures, thus propelling the demand for powered surgical instruments. North America’s focus on patient safety and quality healthcare, along with its strict regulatory environment assuring the availability of quality devices, further prompts manufacturers to develop sophisticated products, making it a rapidly advancing market. Both regions present unique growth opportunities and challenges, and their trajectories in the powered surgical instruments market highlight the dynamic nature of global healthcare demands and innovation.n

Market Report Scope

Powered Surgical Instruments Industry News

• On April 2024, Proprio, a leader in AI-powered surgical technology, announced a significant multi-phase partnership with the Biedermann Group, a company known for its cutting-edge spinal implant systems and procedural solutions. The initial phase of partnership will focus on integrating Biedermann's advanced spinal implants with Proprio's Paradigm system. This system utilizes AI, computer vision, and augmented reality to offer surgeons real-time visualization and guidance during surgical procedures.
• In September 2021, Panther Healthcare, a medical equipment company, launched the Smart Powered Stapler platform across Europe, the Middle East, Africa, Asia, and Latin America. This platform provides intelligent, automated control over tissue compression, transection, and resection during various surgical procedures, including gastrointestinal, thoracic, colorectal, oncology, and gynaecologic surgeries.
• In September 2022, Teleflex Incorporated, a global provider of medical technologies, completed its acquisition of Standard Bariatrics, Inc., a company known for its advanced powered stapling technology used in bariatric surgery
• In June 2022, Ethicon, a division of Johnson & Johnson MedTech, introduced the ECHELON 3000 Stapler, a digitally enhanced device offering surgeons one-handed powered articulation to meet specific patient needs

*Definition: Global Powered Surgical Instruments Market consists of the manufacturing, distribution, and sales of powered surgical instruments used in various surgical procedures across the world. Powered surgical instruments operate on battery power or are plugged into an electrical outlet and include powered drills, saws, resection devices and other instruments used for orthopedic, neurology, ENT, dental and other surgical procedures. The growing demand for minimally invasive surgeries and the increasing rate of target surgeries globally is expected to drive the growth of the global powered surgical instruments market in the coming years.

Market Segmentation

• Product Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Handpiece
  • Power Source & Control
  • Accessories
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Orthopedic
  • Neurosurgery
  • ENT Surgery
  • Cardiovascular Surgery
  • Plastic Surgery
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgery Centers
  • Academic & Research Institutes
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Stryker Corporation
  • Medtronic PLC
  • Johnson & Johnson
  • CONMED Corporation
  • Zimmer Biomet Holdings, Inc.
  • B. Braun Melsungen AG
  • Smith & Nephew PLC
  • MicroAire Surgical Instruments
  • Desoutter Medical Ltd
  • Pro-Dex Inc.
  • Alcon Laboratories Inc.
  • Black & Black Surgical
  • De Soutter Medical
  • Allotech Co., Ltd.
  • Nouvag AG
  • W&H Dentalwerk International
  • Thompson Surgical Instruments
  • Brasseler USA