Powered surgical instruments are precisely designed surgical instruments used to reduce time of surgical procedures and give consistent performance and functionality. These instruments are powered by external sources such as electricity or batteries. The advancements in the conventional powered surgical instruments has increased their use in numerous surgical areas such as in neurosurgery, orthopedic surgery, otology, dental surgery and some others. Every powered surgical instrument consist of a power source and many hand pieces which are required to perform specific functions. Development in the interchangeable accessories has made the surgical procedures safer and faster. Number of companies, physicians, and dentists are contributing to rapidly growing powered surgical instruments market.
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Rising medical tourism globally is an important factor propelling the growth of powered surgical instruments market
According to Health Research Funding (HRF) in U.S., around 400,000 robotic surgeries were performed among all type of surgeries in 2012 and the cost of these surgeries is increasing by 25% every year. The other factors fuelling to the growth of powered surgical instruments market include rising geriatric population, the growing number of patient with chronic diseases such as cancer, cardiovascular diseases, orthopedic conditions, and neurological diseases. Additionally, factors owing to the growth of powered surgical instruments market include, medical tourism, increased healthcare expenditure, rising cases with surgical procedures, growing accessibility to healthcare facilities, and rapid advancement in technology However, the factors that might hinder the growth of powered surgical instruments market include lack of skilled persons to handle these instruments, stringent policies to reduce the healthcare cost, absence of sterilization processes, and lack of quality assurance. Whereas the untapped market in emerging countries is expected to provide numerous opportunities for the growth of powered surgical instruments market.
Electric powered surgical instruments accounted for the maximum share in powered surgical instruments market due to their lower prices and applications in numerous surgical areas
The global powered surgical instruments market is segmented by power source, application, product, and region
On the basis of power source, the powered surgical instruments market is segmented into
On the basis of applications, the powered surgical instruments market is segmented into
On the basis of product type, the powered surgical instruments market is segmented into
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Increase in medical tourism fuelling to the growth of powered surgical instruments market in Asia Pacific
Regional segmentation of powered surgical instruments market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Africa, and Middle East. North America dominates in the power surgical instruments market due to the presence of well-established healthcare facilities and rise in geriatric population.. Asia Pacific is also expected to propel in the powered surgical instruments market owing to factors such as increase in accessibility to healthcare facilities, rising medical tourism, and increase in prevalence of chronic diseases with requirement of surgical procedures.
Major industry players are involved in the expansion of product portfolio and geographical presence to hold the major share in the powered surgical instruments market
Key industry players operating in the Powered surgical instruments market include Johnson & Johnson, B. Braun Melsungen AG, Stryker Co., Medtronic Incorporated, Smith & Nephew, Conmed Co., and Zimmer Holdings. The major industry players are trying to expand their product portfolio and opting for geographical expansion to lead in the powered surgical instruments market. For instance, Stryker Co. has expanded product portfolio that include small bone, large bone, and high speed powered surgical instruments and accessories. The new players in the powered surgical instruments market might adopt the strategies such as market penetration, market diversification, and product innovation and development.
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