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The global hand held surgical instruments market size is estimated to grow by USD 2.85 billion at a CAGR of 8.09% between 2023 and 2028. The market experiences growth due to a surge in surgical volumes alongside the prevalence of chronic diseases and an aging population. Moreover, escalating investments in healthcare infrastructure further drive market expansion, particularly in emerging economies. However, challenges persist, including the risks and complications associated with surgical instruments, a shortage of skilled surgeons, and ambiguous regulatory compliances. Despite these hurdles, the market's high growth potential in developing nations remains a significant driver, fostering advancements and innovations in surgical instrumentation to address healthcare demands effectively.
The market is propelled by the rising demand for surgical interventions across various medical disciplines, including orthopedics, ENT, and thoracic surgery. As the prevalence of chronic disorders continues to increase globally, surgical procedures become more frequent, driving the need for advanced surgical tools. Moreover, the aging population contributes to the surge in demand for healthcare services, including surgical interventions, as elderly individuals are more susceptible to chronic conditions and require specialized treatments.
Furthermore, technological advancements play a pivotal role in driving the growth of the market. Innovations in surgical instrumentation enhance surgical efficiency, improve patient safety, and optimize surgical outcomes. Surgeons increasingly rely on handheld devices for minimally invasive surgeries, which require precise tools for intricate procedures. With the global healthcare infrastructure expanding, especially in developing countries, there is a growing emphasis on equipping hospitals and healthcare facilities with modern surgical instruments to meet the increasing demand for surgical procedures. The report also includes an in-depth analysis of drivers, trends, and challenges.
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The market share growth by the hospital 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. Such clinics, which work in collaboration with the public authority and confidential elements, are multispeciality clinics, confidential clinics, or clinic gatherings. During the forecast period, the segment will experience growth as a result of an increase in investment in healthcare infrastructure.
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The hospitals segment was valued at USD 3.14 billion in 2018. The increase in the number of surgeries for chronic diseases is driven by rapidly growing hospital numbers in advanced countries like the US, China, and India as well as increasing government initiatives to build infrastructure within these hospitals. With the rising geriatric population, who are more susceptible to chronic diseases, the demand for handheld surgical instruments is expected to increase, which in turn, is anticipated to drive the growth of the market in focus during the forecast period.
One of the major product segments in the global hand held surgical instrument is forceps segment. Forceps are sterile instruments that are typically made of stainless steel. They are used for the purpose of harvesting, moving, and coagulating human body tissues during surgery. In 2022, forceps accounted for a dominant share of the worldwide handheld surgical instruments market, by product. It is expected to maintain its dominance during the forecast period. Factors such as the increasing need for surgical sutures and the growing number of surgeries owing to the prevalence of chronic conditions are the major factors driving the growth of the forceps segment during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America dominated the global market in 2023. The region's surgical instruments market continues to grow at a steady pace. The increasing elderly population, accompanied by chronic diseases and an increase in surgical procedures in this region are significant factors that contribute to the market's growth. According to the CDC statistics, in 2021, around 126.6 million adults in the US had orthopedic disorders. In 2021, around 41% of orthopedic surgeries were performed in the US. The above factors will increase the market growth in this region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Aspen Surgical Products Inc. - The company offers hand held surgical instruments such as Bard-Parker disposable scalpels.
Qualitative and quantitative analysis of vendors has been conducted 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.
The market is driven by a confluence of factors that underscore its pivotal role in modern healthcare. As the prevalence of chronic disorders such as cardiovascular, urological, and neurological diseases continues to rise, the demand for precise and efficient surgical procedures escalates. With a growing geriatric population and increasing cases of chronic diseases, there's a heightened need for elective surgical interventions. Additionally, the capacity constraints faced by hospitals and intensive care units emphasize the importance of handheld devices in facilitating minimally invasive surgeries and improving surgical efficiency. Moreover, advancements in technology have revolutionized surgical practices, enabling surgeons to perform intricate procedures with enhanced precision and safety.
Furthermore, the evolving landscape of healthcare infrastructure, particularly in developing countries, is driving the adoption of handheld surgical instruments. These regions are witnessing significant investments in healthcare facilities, leading to a surge in the demand for modern surgical tools to address the rising burden of chronic and infectious diseases. As healthcare providers prioritize surgical outcomes and strive for better patient care, handheld surgical instruments emerge as indispensable tools that enhance surgical precision, efficiency, and overall patient outcomes in diverse healthcare settings. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The increase in volume of surgeries coupled with chronic diseases and older population is notably driving market growth. The market is witnessing significant growth due to the increasing number of elective surgical procedures for managing chronic disorders such as cardiovascular diseases, orthopedic conditions, and cancer in the geriatric population. With the rise in disposable incomes and healthcare expenditure, patients are opting for surgical interventions in hospitals, ambulatory surgical centers, and clinics for better patient safety, surgical efficiency, and improved surgical outcomes. Complex surgeries, including plastic surgery, breast surgery, and aesthetic procedures, require advanced surgical instruments like retractors, scissors, and forceps, ensuring high precision and reliability. The prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and orthopedic conditions, is driving the demand for surgical instruments in healthcare facilities. In 2020, around 57% of surgeries were performed in hospitals, while 43% were conducted in ambulatory surgical centers. Medical technology advancements, including laser therapy, robotic-assisted surgery, image-guided interventions, and pharmaceutical interventions, are also contributing to the market growth. Global supply chains are ensuring the availability of medical devices, despite travel restrictions and the shift towards telemedicine. Thus, such factors are driving the growth of the market during the forecast period.
The growing demand for single-use surgical instruments is driving growth in the market. In terms of surgical instruments, they are available in the disposable or reusable category and play an important role during surgery. Vendors offer several hand-held surgical instruments for single use to reduce the risk of surgical site infections and lower the chances of contamination.
Moreover, Cincinnati Surgical also offers a wide range of sterile surgical scalpels in various sizes that are accompanied by an excellent combination of steel and nickel blades on the unique handle. With titanium staples, they're single-use and refillable linear staplers. Thus, the growing demand for such disposable hand-held surgical instruments is expected to propel the growth of the market in focus during the forecast period.
The risks and complications associated with surgical instruments are primary trends in the market. The instrument or device used in human surgical procedures like dissection, cutting, grasping, retraction, and suture surgery is called a surgical instrument. The patient may experience postoperative complications if the surgeon uses these instruments improperly or inaccurately and does not follow aseptic sterilization procedures. In addition, improper hygiene practices may facilitate the transmission of diseases and prolong hospitalization.
Also, there are a range of devices that assist in medical procedures which can lead to possible complications if they are used incorrectly. Many physicians and healthcare workers are prone to accidental cuts and puncture wounds. According to the CDC estimation, about 385,000 sharps-surgical-related instrument injuries occur annually among healthcare workers in hospitals in the US. Such potential risks associated with the use of surgical instruments might impact the growth of the market in focus negatively during the Market forecasting period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is driven by a myriad of factors, including the prevalence of cardiovascular, urological, neurological, and infectious diseases, which necessitate surgical interventions. With advancements in technology and surgical techniques, there's a growing trend towards minimally invasive surgeries, promoting the adoption of handheld devices for precise and efficient procedures. Surgeons prefer high-quality handheld devices like mechanical cutters, suction tips, tweezers, and irrigation tools for various surgical specialties, including orthopedic, neurological, urological, and gynecological procedures. These devices play a crucial role in enhancing surgical efficiency, patient safety, and favorable surgical outcomes, catering to the evolving needs of healthcare professionals and patients alike.
Furthermore, the market is propelled by a variety of factors spanning medical specialties such as cardiovascular, urological, neurological, and infectious diseases, where these tools are essential for precise interventions. As hospitals and intensive care units grapple with capacity challenges, the demand for handheld instruments rises, bolstered by the need for efficient elective surgical procedures. Surgeon preferences drive the market, with advancements like robotic-assisted surgery and image-guided interventions shaping surgical landscapes. Technological innovations, coupled with disposable incomes and healthcare expenditure, foster the adoption of high-quality handheld devices across orthopedic, ophthalmology, urology, and neurosurgery fields, ensuring optimal patient care.
Moreover, the market thrives on innovation and addresses diverse medical needs, including cardiovascular, urological, and neurological diseases. With hospitals and intensive care units facing capacity challenges, the demand for handheld instruments escalates, supported by the necessity for personal protective equipment. Surgeons rely on these tools for procedures ranging from orthopedic surgery to plastic surgery, including specialized fields like gynecology and thoracic surgery. Technological advancements drive the market forward, with telemedicine and laser therapy offering alternative treatment options. Amidst rising disease burdens like cardiovascular diseases and cancer, high-quality handheld devices play a crucial role in providing targeted therapies and precise surgical interventions.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
Market growth 2024-2028 |
USD 2.85 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.32 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Germany, UK, Canada, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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