Global powered surgical instrument market expected to have grown by 2019

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28th January 2015 12:02 - Health

In 2014, the global powered surgical instrument market was approximated to be worth around $1.5 to 1.6 billion.  By 2019, this figure is Global powered surgical instrument market expected to have grown by 2019 expected to have increased at a large compound annual growth rate (CAGR).

The market’s growth can be largely attributed to an ageing population; an increasing rate of patients requiring surgical procedures, as a result of chronic illness; and consumers having more disposable income to fund private procedures.  The rapid advances in technology are also contributing to the growth of the global powered surgical instrument market.

On the other hand, the growth of the market is also limited due to inadequate quality assurance, insufficient sterilization practices for surgical equipment and financial competition between manufacturing companies.

The market is split depending on power source, product and use.  On the basis of power source, the global powered surgical instrument market is largely divided into electric-powered, battery-powered and pneumatic equipment.  The surgical power tools market is split into power source and control, accessories and hand pieces.

The powered surgical instruments market is segmented into four main districts: North America, Asia-Pacific, Europe and the rest of the world. The report of the research explores the key market drivers, the restrictions and the opportunities within the global market and its submarkets.

In the previous report (2013), the electric-powered surgical instrument division boasted the largest share of the market.  The reasons for the success within the electric-powered instruments segment can be attributed to the affordable prices of the equipment, and their uses within most kinds of surgery.  For example, electric-powered instruments can be used within oral surgery, neurosurgery, plastic surgery, and an extensive list of other types of surgery.

Between 2014 and 2019, the battery-powered surgical equipment segment is anticipated to grow at the highest compound annual growth rate.

In 2013, North America had the largest regional market.  Closely following North America was Europe, Asia-Pacific and the rest of the world.

In the upcoming years, North America and Europe are anticipated to see a smaller growth rate than Asia-Pacific.

As a result of medical tourism, an increasing number of patients are suffering from chronic illnesses and a rising number of health facilities in the region, Asia-Pacific has the quickest growing market for powered surgical equipment and accessories.

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