Global Powered Surgical Instruments Market Size To Grow USD 3.10 Billion By 2030 | CAGR 3.51%

Global Powered Surgical Instruments Market worth $3.10 billion by 2030

According to a research report published by Spherical Insights & Consulting, the Global Powered Surgical Instruments Market Size to grow from USD 2.50 billion in 2021 to USD 3.10 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 3.51% during the forecast period. 

Browse key industry insights spread across 199 pages with 106 market data tables and figures & charts from the report “Global Powered Surgical Instruments Market Size, Share, and COVID-19 Impact Analysis, By Product (Handpieces, Power Source & Control, Accessories), By Application (Plastic Surgery, Orthopedic, Cardiovascular Surgery), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030“ in detail along with the table of contents https://www.sphericalinsights.com/reports/powered-surgical-instruments-market

The prevalence of chronic diseases such diabetes, cancer, cardiovascular disease, and bone-related disorders is on the rise, which is driving the market. The need for these tools is also being driven by an ageing population and a greater awareness of their benefits. As a result of the growing demand for minimally invasive and non-invasive surgical techniques, the global market for powered surgical equipment is also growing. Powered Surgical Instruments are precision-engineered equipment used during surgical procedures. These instruments are used to improve surgical processes in a very effective and precise manner. These pieces of equipment are operated by electric or pneumatic power sources. Complex equipment that enhance the accuracy and dependability of crucial surgical procedures are known as powerful surgical instruments. These instruments are often used in orthopaedic, cardiovascular, neurosurgery, cosmetic restoration surgery, and other procedures for cutting, grinding, sculpting, shaving, and ultrasonic cell death. The market for powered surgical tools is expanding significantly as a result of an ageing population and an increase in illness incidence. The rise in health consciousness among the general public, as well as the increased use and adoption of arthroscopy and minimally invasive procedures, are what are driving the market's growth. The rise in medical tourism worldwide is another factor driving the growth of the global market for Powered Surgical Tools. The expansion of businesses is also expected to be aided by rising financial support and investments in the global healthcare industry. One example of a technological advancement that is influencing the expansion and development of businesses is the use of surgical robots. Issues with insufficient quality guarantees and payment troubles are a couple of the barriers preventing the market's growth. Moreover, problems like subpar quality control and ongoing financial pressure on healthcare providers are anticipated to restrain market expansion. The rise in medical tourism in developed countries is predicted to favour the global expansion of the Powered Surgical Tools Market.

The Handpiece Instruments holds the largest market share over the forecast period.

On the basis of product, the powered surgical instruments market is segmented into Handpieces, Power Source & Control, Accessories. Among these, the handpiece instruments segment holds the largest market share over the forecast period. The market segment is expected to hold onto its lead throughout the projection period due to features including increased power, better efficiency, lighter frames, and ease of use when compared to other instruments. Drilling systems, reamers, saws, staplers, shavers, and other handpiece tools are among the several varieties available. The power source & control sector consists of the categories of batteries, electric instruments, and pneumatic instruments. The market for accessories is made up of electrical and medical accessories.

The plastic surgery segment is witnessing the fastest market growth over the forecast period.

Based on the application, the global powered surgical instruments market is segmented into Plastic Surgery, Orthopedic, Cardiovascular Surgery. Due to increased consumer awareness of these options, social media's propensity to promote cosmetic treatments, an increase in traffic accidents, and an ageing population, the plastic surgery segment is expected to grow at the fastest rate of all throughout the projection period. Moreover, new product releases, mergers and acquisitions, improvements in imaging technology, and favourable reimbursement policies are anticipated to fuel market expansion.

North America dominates the market with the largest market share over the forecast period.

North America dominates the market with the largest market share over the forecast period. The growth of the region has increased due to the liberal reimbursement regulation, strong presence of the market leaders in the area as well as the government initiatives which improve the use of highly advanced power equipment for training sessions and surgical processes for doctors.

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