Wilmington, Delaware, United States, Transparency Market Research Inc.: The global powered surgical instruments market is anticipated to grow at a favorable rate from 2021 to 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global powered surgical instruments market is anticipated to grow at a favorable rate from 2021 to 2031 (forecast period). The powered surgical instruments market has been steadily expanding over the last few years.
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The growing prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, and bone-related disorders, combined with an increase in surgical operations, is likely to boost the global powered surgical instruments market throughout the forecast period. Moreover, the burgeoning geriatric population and increased awareness of the benefits of these instruments are projected to aid the global market growth.
Furthermore, technological breakthroughs, such as surgical robotics, are expected to propel the global powered surgical instruments market.
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Powered Surgical Instruments Market - Competitive Landscape
Key players in the global powered surgical instruments market are CONMED Corporation (U.S.), B. Braun Melsungen AG (Germany), Zimmer Holdings (U.S.), Johnson & Johnson (U.S.), Stryker Corporation (U.S.), Medtronic, Inc. (U.S.), and Smith & Nephew (U.K.).
Major companies are constantly concentrating on the development of cutting-edge surgical devices. For example, powered surgical instruments, such as electric and battery-powered equipment, are gaining popularity among surgeons due to their simplicity and effectiveness.
Powered Surgical Instruments Market - Trends and Opportunities
The rise in the number of surgical procedures, combined with technological improvements such as robot-assisted surgical procedures, is projected to fuel the expansion of the global powered surgical instruments market. Moreover, the growing senior population worldwide and the increasing frequency of lifestyle illnesses are expected to boost the global powered surgical instruments market.
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As per World Health Organization (WHO) figures for June 2021, cardiovascular diseases are the leading cause of mortality worldwide. According to the report, an estimated 17.9 million individuals died from cardiovascular illnesses in 2019, representing 32% of global deaths. A heart attack or stroke was responsible for 85% of these deaths. As per the same source, non-communicable diseases accounted for 17 million premature deaths in 2019, with cardiovascular diseases responsible for 38% of these deaths. As a result, the increasing worldwide prevalence of cardiovascular disease is estimated to boost the demand for surgical procedures, thereby propelling the global powered surgical instruments market.
Moreover, the growing demand for powered surgical instruments in a variety of operations such as orthopedic surgery, neurosurgery, ENT surgery, plastic surgery, cardiovascular surgery, cardiothoracic surgery, and others is likely to strengthen market growth. Furthermore, the growing inclination for minimally invasive surgeries is anticipated to boost the global powered surgical instruments market.
There has been significant growth in the number of minimally invasive surgeries since most healthcare professionals prescribe such procedures to treat various chronic ailments. In addition, as individuals become more aware of the advantages of minimally invasive surgeries, the global powered surgical instruments market is projected to expand.
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Powered Surgical Instruments Market - Regional Landscape
The North America powered surgical instruments market is expected to grow during the projection period. Favorable reimbursement policies, the existence of prominent market players, and government programs that aid access to advanced power instruments for medical procedures are key elements likely to contribute to the regional market growth.
The powered surgical instruments market in Asia Pacific is projected to expand, owing to growing healthcare spending and an increasing acceptance rate of powered surgical instruments with robotic technology by clinicians and hospitals. For example, the United States-based Vattikuti Foundation revealed in 2017 that it is concentrating on India to make it the world’s second-biggest market for robotic surgery after the United States, with the goal of deploying 200 robots in hospitals and approaching the aim of 20,000 robotic surgeries per year by 2023. This is projected to drive the powered surgical instruments market in Asia Pacific.
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