Powered Surgical Instrument Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.19 Billion |
| Market Size (2029) | USD 2.60 Billion |
| CAGR (2024 - 2029) | 4.06 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Powered Surgical Instrument Market Analysis
The Powered Surgical Instrument Market size is estimated at USD 2.19 billion in 2024, and is expected to reach USD 2.60 billion by 2029, growing at a CAGR of 4.06% during the forecast period (2024-2029).
- The high burden of disease, which creates the need for surgery for treatment and management, technological advancement, and market players' launches of new products are key propelling factors driving the market's growth.
- The high burden of various diseases, such as cancer, creates the need for surgical intervention for treatment and management purposes, which, in turn, boosts the demand for powered surgical instruments and drives the growth of the market.
- For instance, the Globocan Observatory, updated in 2024, reported that cancer cases worldwide were 19.97 million in 2022 and are expected to reach 30.90 million by 2045. Such increasing incidence creates the need for different surgical procedures to remove tumors from the body, propelling the market's growth.
- Also, increasing beauty consciousness fuels the demand for aesthetic surgeries and drives the market's growth. For instance, the International Society of Aesthetic Plastic Surgery, published in June 2024, revealed that 15.81 million aesthetic surgical procedures were performed worldwide in 2023 compared to 14.98 million in 2022. This surge in reconstructive surgeries is driving the market's growth.
- Also, the high volume of cardiac surgery drives the growth of the market. For instance, the German Heart Surgery Report 2022, released in 2023, reported that 93.91 thousand heart surgeries were performed in 2022 in Germany. Such a high volume of cardiac surgery creates the need for powered surgical instruments and thus drives the growth of the market.
- Thus, owing to the above-mentioned factors, increasing surgical volume, a high burden of disease, and the launch of new products have pushed for market growth. However, the lack of skilled professionals and regulatory challenges may impede market growth.
Powered Surgical Instrument Market Trends
The Orthopedic Surgery Segment is Expected to Have a Notable Growth Rate
- The orthopedic surgery segment is poised for significant growth during the forecast period. This growth is primarily driven by the rising prevalence of bone and joint cancer, a surge in orthopedic and musculoskeletal injuries from road accidents, and an increasing incidence of arthritis and obesity, which necessitate procedures like knee and hip replacements. Additionally, introducing new products by industry players further catalyzes this segment's expansion.
- The global prevalence of bone and joint cancer underscores the demand for orthopedic surgeries, consequently amplifying the necessity for advanced surgical instruments. For example, the American Cancer Society's projections for 2024 indicate an estimated 3.97 thousand cases of bone and joint cancers in the United States, with 2.27 thousand in females and 1.7 thousand in males.
- Also, the prevalence of sports injuries and road accidents predominantly results in orthopedic and musculoskeletal injuries, further fueling the demand for orthopedic surgeries. India's Ministry of Road Transport and Highway, in its October 2023 report, highlighted this, revealing 461.31 road accidents in 2022, causing injuries to 443.36 individuals.
- Notably, Stryker's introduction of the CD NXT System in March 2023, a tool aiding surgeons' in-depth measurement during drilling, exemplifies how new product launches are bolstering the market.
- Thus, the orthopedic surgery segment is set for continued growth due to the above-mentioned factors, including the rising burden of orthopedic ailments and the momentum from key players' product launches.
North America is Projected to Have a Significant Share During the Forecast Period
- North America is poised to dominate the market, owing to its robust medical device industries, extensive healthcare facilities, and the presence of key players in the powered surgical instruments sector.
- With many surgical procedures being conducted in North America, the demand for powered surgical instruments is expected to rise during the forecast period. Notably, data from the International Society of Aesthetic Plastic Surgery published in June 2024 revealed that 1.79 million surgical aesthetic procedures were performed in the United States in 2023, while Mexico recorded 0.93 million. This surge in reconstructive surgeries fuels the demand for powered surgical instruments, bolstering the market's growth.
- Moreover, the introduction of new products by industry players is further propelling market expansion. For example, in May 2023, Hubly Surgical's Hubly Drill received 510k clearance from the US Food and Drug Administration. This cranial drill, tailored for burr hole procedures, is versatile for use across various healthcare settings. The clearance certificate allows the company to market, particularly in the United States.
- Moreover, market players in the region are driving growth through strategic initiatives to develop innovative products. For instance, in February 2023, Arbutus Medica, a Canadian company, secured a significant boost with a USD 1.13 billion investment from Genome British Columbia (Genome BC). This investment was specifically earmarked for advancing their innovative surgical drill technology and procedure kits.
- Hence, owing to the high volume of surgeries in the region and the new product launches, the market is believed to grow significantly in North America.
Powered Surgical Instrument Industry Overview
Market players focus on continuous product development and offer a wide range of products at competitive prices, especially in developing countries. Companies are focusing on the expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions, mergers, and partnerships. Some major players are Johnson & Johnson, B. Braun Melsungen, Stryker Co., Medtronic Incorporated, Smith & Nephew, Conmed Co., Desoutter Medical Ltd, and Zimmer Holdings.
Powered Surgical Instrument Market Leaders
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Smith & Nephew
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ConMed
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Medtronic PLC
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De-Soutter
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Zimmer Biomet
*Disclaimer: Major Players sorted in no particular order
Powered Surgical Instrument Market News
- April 2024: MOLLI Surgical launched the OncoPen, a minimally invasive surgical pen that empowers surgeons for better outcomes in breast cancer surgery.
- February 2024: Dentsply Sirona launched its Midwest Energo portfolio of electric handpieces in North America.
Powered Surgical Instrument Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Number of Surgical Procedures and Technological Innovations
- 4.2.2 Increasing Geriatric Population and Rising Disease Burden
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4.3 Market Restraints
- 4.3.1 Reimbursement Challenges and Inadequate Skilled Professionals
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD)
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5.1 By Power Source
- 5.1.1 Electric Instruments
- 5.1.2 Battery-powered Instruments
- 5.1.3 Pneumatic Instruments
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5.2 By Product Type
- 5.2.1 Instruments
- 5.2.1.1 Handpiece
- 5.2.1.2 Drill System
- 5.2.1.3 Saw Systems
- 5.2.1.4 Reamer Systems
- 5.2.1.5 Staplers
- 5.2.1.6 Shavers
- 5.2.1.7 Other Instruments (ENT Debriders, Surgical Screwdrivers, and Other Instruments)
- 5.2.2 Accessories
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5.3 By Application
- 5.3.1 Orthopedic
- 5.3.2 Dental
- 5.3.3 Neurosurgery
- 5.3.4 Cardiothoracic Surgery
- 5.3.5 Other Applications (Reconstructive and Plastic Surgeries, ENT Surgeries, and Other Applications)
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Johnson & Johnson
- 6.1.2 B. Braun Melsungen Ag
- 6.1.3 Stryker Corporation
- 6.1.4 Medtronic PLC
- 6.1.5 Smith & Nephew
- 6.1.6 Zimmer Biomet
- 6.1.7 ConMed
- 6.1.8 Desoutter Medical Ltd
- 6.1.9 Adeor Medical AG
- 6.1.10 MicroAire Surgical Instruments
- 6.1.11 Panther Healthcare
- 6.1.12 AlloTech Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Powered Surgical Instrument Industry Segmentation
Powered surgical instruments (PSIs) play a unique role in the operating suite. They reduce the time required for surgical procedures and provide functionality and consistent performance. PSIs are complex surgical devices, and the processes used to clean, inspect, and sterilize them are also complex.
The powered surgical instrument market is segmented by type of power source, product type, application, and geography. The market is segmented by the type of power source, which is electric, battery-powered, and pneumatic. By product type, the market is segmented into instruments and accessories. The application market is segmented into orthopedic, dental, neurosurgery, cardiothoracic surgery, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report offers the value (in USD) for the above segments.
| By Power Source | Electric Instruments | |
| Battery-powered Instruments | ||
| Pneumatic Instruments | ||
| By Product Type | Instruments | Handpiece |
| Drill System | ||
| Saw Systems | ||
| Reamer Systems | ||
| Staplers | ||
| Shavers | ||
| Other Instruments (ENT Debriders, Surgical Screwdrivers, and Other Instruments) | ||
| By Product Type | Accessories | |
| By Application | Orthopedic | |
| Dental | ||
| Neurosurgery | ||
| Cardiothoracic Surgery | ||
| Other Applications (Reconstructive and Plastic Surgeries, ENT Surgeries, and Other Applications) | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Powered Surgical Instrument Market Research FAQs
How big is the Powered Surgical Instrument Market?
The Powered Surgical Instrument Market size is expected to reach USD 2.19 billion in 2024 and grow at a CAGR of 4.06% to reach USD 2.60 billion by 2029.
What is the current Powered Surgical Instrument Market size?
In 2024, the Powered Surgical Instrument Market size is expected to reach USD 2.19 billion.
Who are the key players in Powered Surgical Instrument Market?
Smith & Nephew, ConMed, Medtronic PLC, De-Soutter and Zimmer Biomet are the major companies operating in the Powered Surgical Instrument Market.
Which is the fastest growing region in Powered Surgical Instrument Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Powered Surgical Instrument Market?
In 2024, the North America accounts for the largest market share in Powered Surgical Instrument Market.
What years does this Powered Surgical Instrument Market cover, and what was the market size in 2023?
In 2023, the Powered Surgical Instrument Market size was estimated at USD 2.10 billion. The report covers the Powered Surgical Instrument Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Powered Surgical Instrument Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Powered Surgical Instrument Industry Report
Statistics for the 2024 Powered Surgical Instrument market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Powered Surgical Instrument analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
