[FURL=https://www.industryarc.com/Research/Powered-Surgical-Instrument-Market-Research-506934?utm_source=Briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Powered surgical instruments Market[/FURL] size was estimated at $2.1 billion in 2020, projected to grow at a CAGR of 3.9% during the forecast period 2021-2026. Powered surgical instruments industry has witnessed huge demand owing to the increase in number of global surgical procedures and rising demand for minimally invasive surgeries. Powered surgical devices instruments are sophisticated devices that aid in the efficiency and accuracy of critical surgeries like plastic surgery, orthopedic surgery and various other types of surgeries.Powered surgical instruments have a long history that has paralleled their use in surgery, especially surgery involving hard tissues such as bone or teeth. This breakthrough was crucial as the complexity of procedure became more demanding, necessitating the use of implants. The fields of orthopedics, neurosurgery, dentistry and otology have all played a vital role in development of high-powered surgical instruments that are now used in almost all surgical and dental sub-specialty. The development of interchangeable accessories, as well as power modalities such as pneumatic and electric sources, have revolutionized the surgical field, and making the procedures safer and faster.
Key Takeaways
Geographically, North America Powered surgical instruments Market held the largest revenue share of 35% in 2020 owing to the rising number of pediatric cases suffering from various respiratory and genetic disorders in this region.
Increase in demand for R&D made by the key players in different regions coupled with growing FDA approvals for Powered Surgical Instruments is boosting the market growth.
Increase in prevalence of chronic diseases, increasing aging population, growing medical tourism in various developing countries are the other factors boosting the market growth and provide lucrative growth opportunities for the global market expansion.
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Powered surgical instruments Market Segment Analysis – By Application:
Based on Application, Powered surgical instruments Market is segmented in to Neurosurgery, Orthopedic Surgery, Plastic Surgery, ENT Surgery, Cardiothoracic Surgery, Cardiovascular Surgery, and others. Orthopedic powered surgical instruments accounted for largest revenue market share in 2020. This is mainly attributed to the increasing demand and preference for minimally invasive surgery in orthopedic owing to the growing incidence of various accidents, sports injuries and bone diseases.
Powered surgical instruments Market Drivers
Increasing Geriatric Population
Growing preference for minimal invasive surgeries
Powered surgical instruments Market top 10 companies are CONOMED Corporation, AlloTech Co. Ltd., Medtronic Plc, Stryker Corporation, Adeor Medical AG, Zimmer Biomet, Smith & Nephew Plc, MicroAire Surgical Instrument, LLC, B. Braun Melsungen AG.
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