The powered surgical instruments market is witnessing constant growth. It is estimated to record around USD 2 billion by the end of 2019. This is due to increasing demand for minimally invasive surgeries, growing population of the aged, technological improvements and rising surgical procedures globally.
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The factors driving the powered surgical instruments market are rising disposable income, increasing healthcare spendings, easy access to healthcare and growing lifestyle illnesses. However, lack of proper sterilization of equipments, inadequate quality assurance and pressure of reducing healthcare costs are the factors restraining the market.
The segmentation of the powered surgical instruments market can be done on the basis of power sources, products, applications and geographies. On the basis of power sources, the market can be categorized into battery powered equipments, electric powered equipments and pneumatic equipments.
The products powered surgical instruments market can be fragmented into power sources and controls, accessories and handpieces. Power sources and controls include electric consoles pneumatic regulations, batteries and electrosurgical units. The accessories market can be further divided into electrical and surgical accessories.
The handpieces market includes staplers, drills, shavers, suction coagulators, vessel sealing devices, wire & pin drivers, saws and reamers. The applications powered surgical instruments market consists of neurosurgery, cardiothoracic surgery, orthopedic surgery, oral maxillofacial surgery and plastic & reconstructive surgery.
Globally, North America dominates the powered surgical instruments market. It is followed by Europe. This is due to increasing aged population, innovations in technology, developed healthcare sectors and supportive regulatory frameworks in North America and Europe. Asia Pacific is the fastest emerging market.
Augmented demand for the powered surgical instruments market also owes to the growing markets of China and India.
Information Source: Radiant Insights