Surgical Instruments Market 2019-2026: Global Industry Sizes, Shares, Analysis and Research Report | Grand View Research, Inc.
According to a new report published by Grand View Research, the rising incidence of chronic diseases such as diabetes, cancer, cardiovascular disease, and bone-related diseases, coupled with an increase in the number of surgical procedures, is expected to hit the market from 2019-2026
The globe Motorized Surgical Instruments Market Size is expected to reach $ 2.8 billion from 2026, according to a new report from Grand View Research, Inc., with a CAGR of 3.8%. It is expected that an increasing number of surgical procedures combined with technological advances will fuel the market. In addition, the increasing awareness and affordability of plastic or reconstructive surgery and surgery for sports injuries should boost growth over the forecast period.
The increase in factors such as the demand for minimally invasive surgeries and robotic procedures, as well as improving access to health care, are contributing to growth. In addition, the growing geriatric population and increasing awareness of the availability of surgical procedures are likely to fuel the market.
The increase in traffic accidents and rising healthcare spending in emerging markets are other factors that should drive revenue generation in the market. According to the US Census Bureau, the global health spending is expected to be achieved $ 18.28 trillion from 2040, grows with a CAGR of 2.6%. According to the WHO, the world population aged 60 and over is projected to reach 2 billion by 2050, up from 900 million in 2015. This population is more susceptible to a wide variety of diseases, increasing the need for effective treatments and thereby fueling the market.
Surgical Surgical Instruments Market report highlights
• North America made the greatest share from above 42.0%, due to the high prevalence of chronic diseases, a favorable reimbursement policy, the presence of important actors and government initiatives.
• The Asian countries show the highest growth rate of 5% in the forecast period, which can be attributed to the increasing adoption of advanced technologies, increasing investments, an improved reimbursement scenario and increasing medical tourism.
• Handpiece operated surgical instruments are expected to dominate over the forecast period. It accounted for more than more than 40.0% of the share in 2018.
• On an application basis, orthopedics, followed by cardiovascular surgery, were the leading market segments due to the high use of electrical instruments, the growing geriatric population, and the increasing incidence of osteoporosis and heart disease.
• Major players in the Surgical Surgical Instruments market are choosing strategies such as partnerships and acquisitions, new product launches, and investments in new technologies to expand their product portfolios and strengthen their global presence. In November 2018, Stryker Corporation announced the takeover of K2M Group Holdings, Inc., thereby expanding its product portfolio.
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Surgical Surgical Instruments Market Segmentation
Grand View Research has segmented the Electrical Surgical Instruments Market by Product, Application, and Region:
Powered Surgical Instruments Product Outlook (Revenue, $ Mn, 2015-2026)
• drilling system
• Reamer system
• saw system
• Power source and control
• Electrical instruments
• Battery operated instruments
• Pneumatic instruments
• Surgical accessories
• Electrical accessories
Power Surgical Instruments Application Outlook (Revenue, $ Mn, 2015-2026)
• Orthopedic surgery
• ENT surgery
• Cardiovascular surgery
• Plastic surgery
Regional Outlook for Powered Surgical Instruments (Revenue, MILLION USD, 2015-2026)
• North America
• Great Britain
• Asia Pacific
• Latin America
• Middle East & Africa
• United Arab Emirates
• Saudi Arabia
• South Africa
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Via Grand View Research
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