05-Jun-2018 | Zion Market Research
With the presence of a large pool of participants, the Global powered surgical instruments market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Stryker Corporation, Johnson & Johnson, Medtronic, Conmed Corporation, Smith & Nephew and Zimmer Holdings are some of the key vendors of powered surgical instruments across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the powered surgical instruments market study.
Citing an instance, in March 2018, Stryker’s instrument segment launched an F1 small bone power system, thereby facilitating surgeons to carry out effective surgical procedures via cordless, balanced, and lightweight solutions in extreme cases.
Browse the full "Powered Surgical Instruments Market by Power Source (Electric, Battery and Pneumatic), Product (Drill, Saw, Stapler, Reamer, Console, Cables, Blade, Burr and Cart), Application (Orthopedic, ENT, Oral, Thoracic and Neurology): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023." report at http://www.zionmarketresearch.com/report/powered-surgical-instruments-market
As estimated in this report, the global powered surgical instruments market stood at US$ 2.03 billion in 2017. Witnessing a tremendous rise during the period from 2017 to 2023, the revenue in this powered surgical instruments market is expected to reach US$ 2.54 billion by the end of the forecast period. The main products available in this powered surgical instruments market are drill, saw, stapler, reamer, console, cables, blade, burr, and cart.
Rampant Application Of Device In Surgeries To Spur Market Revenue
“Emerging trend among the surgeons towards the product use in surgeries is anticipated to spur the growth of powered surgical instruments market in the coming years,” says the author of this study. Apart from this, rise in the rate of physical injuries, muscle skeletal fractures, neurological & ENT disorders and orthopedic conditions will further garner maximum gains for powered surgical instruments market in terms of both size and revenue.
Strict legislations and low awareness levels about the product, however, is likely to impede the expansion of powered surgical instruments market in the forthcoming years. Nevertheless, technological innovations, unfulfilled medical requirements, and extensive research for creating sturdy and easy to carry surgical devices will generate lucrative avenues for powered surgical instruments market. This, in turn, will normalize the impact of hindrances on the business, reports the study.
Presence Of Advanced Medical Facilities To Aid North America’s Dominance
Regionally, North America has been leading the worldwide powered surgical instruments market and is anticipated to continue on the dominant position in the years to come, states the powered surgical instruments market study. The presence of advanced healthcare amenities and multispecialty surgical centers along with increase in number of orthopedic, dental, oral, neurological, cardiovascular surgeries is the main factor behind the dominance of the North America powered surgical instruments market. Swelling occurrence of chronic musculoskeletal ailments witnessed in the geriatric population across North America along with massive product use for medical treatment & diagnosis is another significant factor that is supporting the growth of this regional powered surgical instruments market. For the record, the U.S. is the key regional revenue generator with massive addition to the number of surgeries witnessed across the country every year.
The global powered surgical instruments market is segmented as follows:
By Power Source
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