In June 2019, Tata Consultancy Services, a global IT services, consulting and business solutions company, partnered with SAP to bring an Intelligent Field Inventory Management (iFIM) solution powered by SAP® Leonardo to market and leveraging IoT and blockchain to help medical device manufacturers streamline the handling of surgical kits.
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The increasing volume of global surgical interventions and the increasing demand for minimally invasive surgery are driving the growth of the market for power operated surgical instruments. Members of the American Society of Plastic Surgeons (ASPS) report that they performed more than 17.7 million surgical and minimally invasive aesthetic procedures in the United States in 2018. That is almost 277,000 more cosmetic procedures than in the previous year. The increasing technological advancement such as surgical robotics and the increasing prevalence of the various chronic diseases with the aging of the population also contribute to the growth of the market for motorized surgical instruments. It is expected that increasing global healthcare spending and increasing medical tourism will further fuel the growth of the market.
On the other hand, inadequate quality assurance and the lack of appropriate sterilization procedures for surgical equipment are key factors that are expected to limit the growth of the market.
Motorized surgical instruments are used in cosmetic procedures such as breast augmentation or liposuction, as well as in major operations such as heart surgery or reconstruction of the neck or spine. The way a surgical instrument is powered usually depends on what it is being used for, although most of them are powered by some type of electrical current or gas. This can be done in different ways, depending on what the medical device is used for. In general, the most common electrical current used comes from an anesthesia machine. Anesthesia machines generally contain a chamber with electrodes into which the electrocautery gel or solution is administered, causing the body to numb its muscles. Gas-powered devices, which are also commonly used in powered surgical instruments, are nitrogen-powered flashlights.
The Asia Pacific region is emerging as a growth hub for the power surgical instrument market and this is because this region is responsible for the growing medical tourism in the region. The country is seeing medical tourism growth of 22-25 percent, according to the India Brand Equity Foundation, and healthcare providers expect the industry to double from $ 3 billion in 2017 to $ 6 billion by 2018. Medical tourists to India usually look for joint replacement surgery. Heart, liver and bone marrow transplants, spine and brain surgery, cancer and kidney treatments and in vitro fertilization (IVF).
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The main actors are: Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., MicroAire Corporation, Medtronic Plc, KLS Martin LP, DePuy Synthes, Smith & Nephew, Arthrex Inc and B. Braun Melsungen AG
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