May 22, 2024
Powered Surgical Instruments Market

Powered Surgical Instruments Market is expected to be Flourished by Growing Technology Integration in Medical Sector

The powered surgical instruments market comprises battery-powered instruments used in surgery for tasks such as cutting, sawing, drilling, reaming, and grinding of bones and tissues. Powered surgical devices find extensive applications in orthopedic, ENT, neurosurgery, oral/dental and plastic surgery procedures. Battery-powered drills are commonly used for drilling holes in bones during orthopedic surgeries. Powered surgical saws help in precision cutting of bones and tissues. Dental surgeries extensively employ motorized handpieces and scalers.

The global powered surgical instruments market is estimated to be valued at US$ 2.42 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of powered surgical instruments market is the growing integration of advanced technologies such as robotics, navigation systems and powered instruments in medical procedures. Powered instruments provide greater control, convenience and precision to surgeons compared to manual tools. They reduce strain on surgeon’s wrists and hands. This is driving the demand for battery-operated tools in specialties such as orthopedics, neurosurgery and dental surgeries. Innovation in lithium-ion battery technology is enabling longer runtime of powered devices. Manufacturers are also focused on developing intelligent powered instruments with features such as adjustable speed, programme control and feedback. This is allowing surgeons to perform complex procedures with enhanced accuracy.

Segment Analysis

Powered Surgical Instruments Market is segmented into electric-powered, battery-powered, and pneumatic-powered surgical instruments. The pneumatic-powered segment holds the largest share in the market currently due to its significant benefits over other types. Pneumatic instruments are more precise and accurate during operation as compressed air provides better pressure control. They also generate less heat during operation, minimizing the risk of burning tissues.

PEST Analysis

Political: Regulations regarding medical devices safety across regions influence the adoption of powered surgical instruments. Stringent quality standards and approval procedures impact product development timelines and costs.

Economic: Rising healthcare expenditure, increasing surgical procedures, and growing preference for minimally invasive surgeries are fueling the market growth. However, budget constraints in some countries may hamper advances.

Social: Growing geriatric population and prevalence of chronic diseases are key factors raising demand. However, social taboos and awareness regarding modern surgery in developing nations act as challenges.

Technological: Developments in powered instrumentation, energy technologies, miniaturization, digital connectivity, and artificial intelligence can augment precision, flexibility, and outcomes. However, high R&D investments required act as a barrier.

Key Takeaways

The Global Powered Surgical Instruments Market Share is expected to witness high growth over the forecast period driven by the increasing demand for advanced medical technologies. The global powered surgical instruments market is estimated to be valued at US$ 2.42 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Regionally, North America dominates currently due to its advanced healthcare infrastructure and high adoption of new devices amongst surgeons and hospitals. The expanding medical tourism industry in Asia Pacific is creating new opportunities and propelling the regional market growth at a faster pace.

Key players operating in the powered surgical instruments market are Aries Chemical, Inc., Arakawa Chemical Industries, Ltd., Atlas Organics Private Limited, GO YEN Chemical Industrial Co., Ltd., Haihang Industry, Kemira Oyj, Longkou Longpai Fine Chemical Industry Co., Ltd., Oleon NV, Plasmine Technology, Inc. and SEIKO PMC Corporation. Key players are focusing on new product launches, adopting collaboration and acquisition strategies to expand their market shares and production capacities.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it