Hand Held Surgical Instruments Market to grow by USD 2.67 billion from 2022 to 2027 | The increased prevalence of chronic disorders among the populations drives the market - Technavio

NEW YORK, Aug. 22, 2023 /PRNewswire/ -- The hand held surgical instruments market size is forecast to increase by USD 2,674.67 million from 2022 to 2027, at a CAGR of 8.12%, according to the recent market study by Technavio. The growth of the market will be driven by the increase in the volume of surgeries coupled with chronic diseases and older population, increasing investment in health care infrastructure, and high growth potential in emerging countries. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Aspen Surgical Products Inc., B.Braun SE, Becton Dickinson and Co., Conmed Corp., Dolphin Surgicals, Gebruder Martin GmbH and Co. KG, Hebson Surgical Co., Integra Lifesciences Corp., Johnson and Johnson Services Inc., KARL STORZ SE and Co. KG, Lepu Medical Technology Beijing Co. Ltd., Medtronic Plc, Olympus Corp., Richard Wolf GmbH, Smith and Nephew plc, Stryker Corp., Teleflex Inc., The Cooper Companies Inc., THOMSON SURGICALS PVT.LTD., and Zimmer Biomet Holdings Inc. 

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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Expense Management Software Market - Segmentation Assessment

The market is segmented by end-user (Hospitals, Ambulatory surgical centers, Clinics, and Long-term care centers), product (Forceps, Retractors, Dilators, and Graspers and others), and geography (North America, Europe, Asia, and Rest of World (ROW))

• The market share growth by the hospitals segment will be significant during the forecast period. Emergency clinics are viewed as one of the significant end-clients where different medical procedures are performed. These clinics, functioning in collaboration with both public authorities and private entities, fall into the categories of multispecialty clinics, private clinics, or clinic groups. Over the forecast period, this sector is poised for growth owing to heightened investments in healthcare infrastructure. The surge in surgeries for chronic ailments stems from the rapid expansion of hospitals in technologically advanced nations like the US, China, and India, coupled with increased governmental initiatives aimed at bolstering hospital infrastructure. The growing elderly population, who are more prone to chronic illnesses, is expected to drive the demand for handheld surgical instruments, consequently fostering the expansion of the market during the forecast period.

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Market Dynamics

Key Driver

The increased prevalence of chronic disorders among the populations notably drives market growth. 

Major trends 

The growing demand for single-use surgical instruments is an emerging trend shaping market growth. Surgical instruments can be categorized as either disposable or reusable and hold significant significance in the surgical context. To address the imperative of minimizing surgical site infections and contamination risks, suppliers provide an array of single-use hand held surgical instruments. These instruments serve to enhance safety and reduce the likelihood of infections. Notably, Cincinnati Surgical also offers an extensive selection of sterile surgical scalpels, available in various sizes, incorporating a unique handle design coupled with steel and nickel blades. Their single-use linear staplers, equipped with titanium staples, are both refillable and single-use. Consequently, the mounting demand for such disposable hand held surgical instruments is poised to drive the growth of the targeted market during the forecast period.

Significant Challenges 

The risks and complications associated with surgical instruments are the significant challenges hindering market growth. 

What are the key data covered in this Hand Held Surgical Instruments Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the hand held surgical instruments market between 2023 and 2027
• Precise estimation of the hand held surgical instruments market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the hand held surgical instruments market across North America, Europe, Asia, and the Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of hand held surgical instruments market vendors

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Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio