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.

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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.