The global hand-held surgical instruments market size is expected to reach USD 6.51 billion by 2025 at a 7.1% CAGR during the forecast period
LONDON, Feb. 19, 2019 /PRNewswire/ -- Hand-held Surgical Instruments Market Size, Share & Trends Analysis Report By Product (Forceps, Retractors), By Application (Obstetrics & Gynecology, Orthopedic), By End Use, And Segment Forecasts, 2019 - 2025
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The global hand-held surgical instruments market size is expected to reach USD 6.51 billion by 2025 at a 7.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by rise in number of surgical procedures being performed and increase in prevalence of chronic diseases. In addition, rise in number of road and other accidents globally is contributing to high demand for these surgical instruments.
According to data revealed by the Center for Disease Control and Prevention (CDC) in 2017, 15% of the U.S. population suffers from chronic kidney disease. Hence, with rising prevalence of chronic diseases, need for surgical treatment has been increasing. This is, in turn, accelerating demand for handheld surgical instruments. As per WHO, around 10 million people are injured or disabled due to road accidents every year, which has also resulted in growing number of wound surgeries. This is expected to positively impact market growth in the long run.
In addition, as per Plastic Surgery Statistics Report released by the American Society of Plastic Surgeons, in U.S., around 17.5 million cosmetic surgeries and minimally invasive procedures were performed in 2017. This showcases that the number of surgeries being performed is expected to rise in future.
Further key findings from the study suggest:
• By product, the others segment dominated the market in 2017 owing to high adoption of various types of surgical tools such as clamps, cannulas, closure devices, bone rasps, needle holders, dissectors, suction tubes, and other cutting instruments
• Rise in general surgeries, wound injuries, and urologic surgeries, such as prostate cancer surgery and urinary obstruction surgery, has led to high revenue generation of the others segment by application
• Plastic and reconstructive surgery is expected to witness the fastest growth over the forecast period due to rise in number of cosmetic surgical procedures such as liposuction, breast augmentation, and abdominoplasty
• On the basis of end use, the hospitals segment is fueled by presence of well-equipped operating rooms
• Clinics held a significant revenue share in 2017 owing to rise in number of dental and other specialized clinics throughout the world, resulting in increased demand for handheld surgical tools
• North America dominated the market in 2017 due to presence of well-developed healthcare infrastructure and leading market players in the region; Asia Pacific is projected to showcase the highest growth during the forecast period owing to rising prevalence of chronic diseases, burn cases, and high child birth rate
• Some of the key companies are B. Braun Melsungen AG, Integra LifeSciences Corporation, Smith & Nephew, Medtronic, Zimmer Biomet Holdings, Becton, Dickinson and Company, and Johnson & Johnson.
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