Market Dynamics
The global powered surgical instrument market is expected to grow significantly during the forecast period of 2018 to 2032. In recent years, powered surgical instruments have become increasingly popular in many hospitals and surgical centers worldwide, due to their ability to provide improved precision, control, and accuracy when conducting various medical procedures. The rising prevalence of worldwide surgical operations, combined with the advent of new technologies, such as robotic-assisted surgery, has been a major driving force behind the growth of the powered surgical instrument market. Other factors driving market growth include the increasing acceptance of adjunctive imaging techniques in 15medical procedures, aging baby boomer population, as well as growing investment in these technologies from both the government and the private sector. In terms of technology, the global powered surgical instrument market is divided into robotic, endoscopy, visualization, and orthopedic surgical instruments. The robotic segment is expected to remain the fastest-growing market, as more medical centers and healthcare providers are turning to advanced robotic surgical systems to modernize their surgical operation rooms and achieve better patient outcomes. In regards to end-users, the global powered surgical instrument market is segmented into ambulatory surgical centers, hospitals, and research institutes.
Hospitals are anticipated to acquire the highest share of the market, driven by the growing number of elective and accidental surgical procedures. Ambulatory surgical centers, on the other hand, are expected to account for the second-largest share of the market, and are likely to witness strong future growth opportunities. In terms of geography, North America, Asia Pacific, and Europe are the top regional contributors to the global powered surgical instrument market. Asia-Pacific is projected to be the fastest-growing region for the market, due to a growing number of medical device manufacturers, healthy distribution channels, and rapidly expanding hospital infrastructure. As such, the global powered instrument market is expected to remain highly competitive during the forecast period. Key players in the market include Stryker, Johnson & Johnson, and Olympus Corporation. Emerging players such as Zimmer Biomet, Conmed Corporation, and Smith & Nephew are expected to experience significant growth potential in the market during the forecast period.
