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.
More articles on medical devices:
Zimmer Spine outlook: Key thoughts & trends from Steve Healy
Medtronic shareholders OK Covidien acquisition—5 things to know
Sales exceed expectations: 7 key points from Globus Medical’s 2014 financial report
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
