Powered Surgical Instrument Market Insights, Competitive Landscape and Market Forecast-2027

Powered Surgical Instruments Market By Product Type (Handpieces [Drills, Saws, Reamers, Shavers And Others], Power Consoles And Controls, And Others), By Power Source (Pneumatic, Battery-Powered, And Electric), By Application (Orthopedic Surgery, Neurosurgery, ENT Surgery, Ophthalmic Surgery, Cardiac Surgery, And Others), By End User (Hospitals, Ambulatory Surgical Centers, And Others), by geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing volume of surgical procedures due to rise in incidence of bone fractures and various cancers.

Global Powered Surgical Instruments Market was valued at USD 2.06 billion in 2021, growing at a CAGR of 4.26% during the forecast period from 2022 to 2027 to reach USD 2.65 billion by 2027. Factors such as rising aging population resulting in the increasing prevalence of degenerative bone disorders and ophthalmic conditions, rising number of brain cancers, increasing number of trauma cases, and growth in the product innovation are stimulating the growth of the powered surgical instruments market positively.

Powered Surgical Instruments Market Dynamics:

One of the main reasons among the other key factors behind the positive growth of the powered surgical instruments market is the rising geriatric population. According to the United Nations World Population Ageing 2020 Highlights, there were about 727 million people over the age of 65 worldwide in 2020. The aforementioned source further mentioned that the elderly population is expected to double to more than 1.5 billion in three decades. The elderly population is prone to the development of various diseases such as various age-related disorders such as age-related eye conditions and degenerative bone diseases among others. As per the International Osteoporosis Foundation (2021), over 8.9 million fractures related to osteoporosis occur annually. It further stated that about one in five men and one in three women over the age of 50 are susceptible to suffer from a fracture due to weak bones. Osteoporosis is one of the common degenerative bone disease where the body starts to lose bone mass or there is a reduction in the formation of bone. The osteoporotic bones become less dense, become weak, and are more prone to fractures. Thus, the increasing prevalence of degenerative bone conditions is expected to increase the demand for orthopedic surgeries where powered surgical tools are heavily employed thereby driving the powered surgical instruments market growth during the forecast period (2022-2027).

Another factor driving the demand for powered surgical tools is the rising prevalence of brain cancers across the globe. As per the GLOBOCAN study for 2020 cited by the World Health Organization, in 2020, there were about 308,102 new cases of brain and central nervous system cancers globally. Cancers of CNS have high mortality and metastatic rates associated with them. Therefore, numerous types of brain surgeries are performed for excising the tumors which require the use of powered surgical devices. Therefore, the increasing number of brain and CNS cancers in the coming years would contribute in the growing demand for powered surgical devices, thereby resulting in the growth of the powered surgical instruments market during the forecast period.

However, factors such as the complex designs of the conventional powered surgical instruments that restrict the access of the area to be operated due to attached wires and the requirement for cleaning and sterilization before being reused may inhibit the growth for powered surgical instruments in the market.

Along with the above-mentioned factors, the powered surgical instruments market witnessed a period of temporary setback due to the imposing of the lockdown restrictions as necessary measures to contain the COVID-19 spread. One of the major steps during this was the suspension of numerous elective procedures and outpatient visits which reduced the demand for powered surgical instruments in the market as a large number of surgeries across different medical specialties were suspended during the initial lockdown period, thereby limiting the market growth for a short time. Nevertheless, the market for powered surgical instruments is on the period of recovery with the resumption of activities across various domains including healthcare services owing to the approval and administration of numerous COVID-19 vaccines across the globe, thereby presenting a positive future outlook for the powered surgical instruments market during the forecast period from 2022-2027.

Powered Surgical Instruments Market Segment Analysis:

Powered Surgical Instruments Market by Product Type (Hand pieces [Drills, Saws, Reamers, Shavers and Others], Power Consoles and Controls, and Others), by Power Source (Pneumatic, Battery-Powered, and Electric), by Application (Orthopedic Surgery, Neurosurgery, ENT Surgery, Ophthalmic Surgery, Cardiac Surgery, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on power source, in the powered surgical instruments market, the battery-powered powered surgical instruments are predicted to witness the fastest growth during the forecast period from 2022-2027. The adoption of battery-driven power tools is increasing as these devices are convenient to use and have no lead attached to the tool. Moreover, battery packs can be sterilized by various methods such as hydrogen peroxide gases, ethylene oxide gases, and gamma rays which reduces the chances of infections significantly. Therefore, their increased demand is expected to contribute in the overall growth of the powered surgical instruments market growth in the coming years.

North America is expected to dominate the Overall Powered Surgical Instruments Market:

Among all the regions, North America is expected to amass the largest share of powered surgical instruments market globally. The growing number of orthopedic surgical procedures owing to the high prevalence of arthritis and other bone diseases, rising population of the elderly, increasing number of reconstructive and cosmetic surgeries well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the powered surgical instruments over the forecast period.

In North America, the US is expected to account for the largest share in North America Powered Surgical Instruments market. This can be attributed to the increasing cases of bone-related disorders in the country. As per the data provided by the US Centers for Disease Control and Prevention (2018), it has been estimated that by 2025, 67 million people in the country will have doctor-diagnosed arthritis and it is expected to reach 78 million by 2045. This increase in the diseases population affected with arthritis would lead to the increased number of orthopedic surgeries in the country which in turn will contribute in the increasing demand for powered surgical instruments thereby aiding in the growth of the powered surgical instruments market in the country and as well as the region.

Moreover, as per the Plastic Surgery Statistics Report published by the American Society of Plastic Surgeons, in 2020, in the United States approximately 15.6 million procedures were performed. The report further stated that in 2020, maxillofacial surgery, tumor removal, scar revision, laceration repair, and hand surgery were the top five reconstructive procedures. These procedures require the use of powered surgical devices in order to access the area of interest. Therefore, the rising popularity of plastic and reconstructive procedures is also expected to drive the demand for powered surgical instruments in the country, thereby providing a conducive environment for the growth of the United States powered surgical instruments market, and in North America during the forecast period.

Along with the factors mentioned above, the large presence of key market players as well as the launch of new products in the region as a reason of extensive R&D activities also provide favorable conditions for the growth of the North American powered surgical instruments market.

For instance, in November 2020, Medtronic received the 510k product approval from the US Food and Drug Administration for the Midas Rex Attachments and Dissecting Tools. These tools are intended to be used for the incision/cutting, drilling, burring, and removal of hard tissue and bone in open and minimally invasive spine procedures. The local launch of the products in the regional market also provides an added advantage for both end users and manufacturers as the product cost in significantly reduced resulting in their high uptake.

Therefore, the interplay of various factors such as the presence of large patient population, encouraging reimbursement policies as well as new product launches in the region are going to boost the North America powered surgical instruments market during the forecast period.

Powered Surgical Instruments Market Key Players:

Some of the key market players operating in the powered surgical instruments market includes Stryker, CONMED Corporation, Medtronic, DePuy Synthes (Medical Devices Business Services, Inc.), MicroAire Surgical Instruments, LLC, Zimmer Biomet, De Soutter Medical, adeor medical AG, Smith & Nephew, Arthrex Inc, Inc, Brasseler USA, Nouvag AG, AYGUN CO.,INC, iMEDICOM, Shanghai Bojin Medical Instrument Co.,Ltd, ORTHOPROMED, Allotech Co. Ltd., medical bees GmbH, MatOrtho Limited, NAKANISHI INC, Kaiser Medical Technology, and others.

Recent Developmental Activities in Powered Surgical Instruments Market:

• In June 2021, Stryker received the 510k approval from the US Food and Drug Administration for their Stryker iBur hubs and cutting accessories which are intended to be used with the Stryker Core Consolidated Operating Room (CORE) Console and electric and pneumatic motors.
• In June 2021, Zethon Ltd received the 510k approval from the US Food and Drug Administration for their hekaDrill for use in the incisions, drilling, sawing of soft and hard bone tissue.
• In April 2021, adeor medical AG received the 510k approval from the US Food and Drug Administration for their Velocity Alpha High speed Surgical Drill System for rapid cutting, sawing, drilling and manipulation of soft tissue and bone.

Key Takeaways from the Powered Surgical Instruments Market Report Study

• Market size analysis for powered surgical instruments market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the powered surgical instruments market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global powered surgical instruments market.
• Various opportunities available for the other competitor in the powered surgical instruments market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current powered surgical instruments market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for powered surgical instruments market growth in the coming future?

Target Audience who can be benefited from this Powered Surgical Instruments Market Report Study

• Powered Surgical Instruments products providers
• Research organizations and consulting companies
• Powered Surgical Instruments -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in powered surgical instruments
• Various End-users who want to know more about the powered surgical instruments market and latest technological developments in the powered surgical instruments market.

Frequently Asked Questions for Powered Surgical Instruments Market:

1. What is a powered surgical instrument?

A surgical power tool is an equipment which is used to perform surgery on bone or bone fragments in different anatomical locations in the body. These tools help in sawing, drilling, screwing, and reaming.

2. What is the market for Global Powered Surgical Instruments?

Global Powered Surgical Instruments Market was valued at USD 2.06 billion in 2021, growing at a CAGR of 4.26% during the forecast period from 2022 to 2027 to reach USD 2.65 billion by 2027.

3. What are the drivers for Global Powered Surgical Instruments Market?

The major drivers of the global powered surgical instruments market are the rising aging population, rising number of brain cancers, increasing number of trauma cases, and growth in the product innovation are stimulating the growth of the powered surgical instruments market positively.

4. Who are the key players operating in Global Powered Surgical Instruments Market?

Some of the key market players operating in the powered surgical instruments market includes Stryker, CONMED Corporation, Medtronic, DePuy Synthes (Medical Devices Business Services, Inc.), MicroAire Surgical Instruments, LLC, Zimmer Biomet, De Soutter Medical, adeor medical AG, Smith & Nephew, Arthrex Inc, Inc, Brasseler USA, Nouvag AG, AYGUN CO.,INC, iMEDICOM, Shanghai Bojin Medical Instrument Co.,Ltd, ORTHOPROMED, Allotech Co. Ltd., medical bees GmbH, MatOrtho Limited, NAKANISHI INC, Kaiser Medical Technology, and others.

5. Which region has the highest share in Powered Surgical Instruments market?

Among all the regions, North America is expected to amass the largest share of powered surgical instruments market. The growing number of orthopedic surgical procedures owing to the high prevalence of arthritis and other bone diseases, rising population of the elderly, increasing number of reconstructive and cosmetic surgeries well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the powered surgical instruments over the forecast period.
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