Market Size of Powered Surgical Instrument Industry
| 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 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 | |||||||||
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| Accessories |
| By Application | |
| Orthopedic | |
| Dental | |
| Neurosurgery | |
| Cardiothoracic Surgery | |
| Other Applications (Reconstructive and Plastic Surgeries, ENT Surgeries, and Other Applications) |
| Geography | ||||||||
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Powered Surgical Instrument Market Size Summary
The powered surgical instrument market is experiencing growth driven by several key factors, including the increasing burden of diseases such as cancer, which necessitates surgical interventions, and advancements in technology. The demand for these instruments is further bolstered by the rising popularity of aesthetic surgeries and the high volume of cardiac procedures. Despite challenges like a shortage of skilled professionals and regulatory hurdles, the market is poised for expansion. The orthopedic surgery segment, in particular, is expected to see significant growth due to the rising prevalence of bone and joint conditions, musculoskeletal injuries, and the introduction of innovative products by industry players.
North America is anticipated to lead the market, supported by its strong medical device industry, extensive healthcare infrastructure, and the presence of major players in the powered surgical instruments sector. The region's high volume of surgical procedures and ongoing product innovations contribute to its market dominance. Companies are actively engaging in strategic initiatives, such as product development and partnerships, to enhance their offerings and maintain competitive pricing, especially in developing markets. Key industry players include Johnson & Johnson, B. Braun Melsungen, Stryker Co., Medtronic Incorporated, and others, who are continuously expanding their product portfolios to meet the growing demand.
Powered Surgical Instrument Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number of Surgical Procedures and Technological Innovations
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1.2.2 Increasing Geriatric Population and Rising Disease Burden
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1.3 Market Restraints
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1.3.1 Reimbursement Challenges and Inadequate Skilled Professionals
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD)
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2.1 By Power Source
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2.1.1 Electric Instruments
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2.1.2 Battery-powered Instruments
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2.1.3 Pneumatic Instruments
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2.2 By Product Type
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2.2.1 Instruments
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2.2.1.1 Handpiece
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2.2.1.2 Drill System
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2.2.1.3 Saw Systems
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2.2.1.4 Reamer Systems
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2.2.1.5 Staplers
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2.2.1.6 Shavers
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2.2.1.7 Other Instruments (ENT Debriders, Surgical Screwdrivers, and Other Instruments)
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2.2.2 Accessories
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2.3 By Application
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2.3.1 Orthopedic
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2.3.2 Dental
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2.3.3 Neurosurgery
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2.3.4 Cardiothoracic Surgery
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2.3.5 Other Applications (Reconstructive and Plastic Surgeries, ENT Surgeries, and Other Applications)
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Powered Surgical Instrument Market Size 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.
