The global powered surgical instruments market is expecting moderate growth over the next four years, according to a Research and Markets report.
Here are eight trends from the report:
1. In 2014, the market was estimated at $1.5 billion to $1.6 billion.
2. These factors are driving the moderate compound annual growth rate:
• Increasing aging population
• More chronic disease requiring surgery
• Higher disposable income
• Rapid technology innovation
3. There are a few market restrictions, including inadequate quality assurance, lack of proper sterilization practices and a high price among competing manufacturers.
4. North America is the largest regional market for the powered surgical instruments. Europe is the second largest, followed by Asia-Pacific.
5. The North American and European markets are expected to see lower growth rates than other parts of the world.
6. The fastest-growing region is the Asia-Pacific region due to increased medical tourism, more chronic disease needing surgical intervention and increased healthcare facility accessibility.
7. Major players in the market are B. Braun Melsungen AG, CONMED, Covidien, Johnson & Johnson, Medtronic, Stryker and Zimmer.
8. The battery-powered surgical instruments segment is expected to grow at the highest compound annual growth rate over the next four years.