The Total Addressable Market (TAM) for Powered Surgical Instrument had a revenue of USD 2.24 billion in 2022. It is expected to reach USD 3.05 billion by 2031, growing at a CAGR of 3.5% during the forecast period (2023-2031). A surgical instrument is a tool used during surgery or an operation to carry out specific actions or achieve desired results, such as modifying biological tissue or allowing access for viewing it. Powered surgical instruments are sophisticated tools that help with necessary surgical procedures by increasing consistency and efficiency. These instruments are frequently used in orthopedic, cardiovascular, neurosurgery, plastic reconstruction surgery, and other surgeries. They are designed for cutting, drilling, sculpting, shaving, and ultrasonic cell disruption. The development of powered surgical tools has coincided with a growing need in surgery, especially for procedures involving hard tissue like bone or teeth. This advancement was very significant because procedures became more complex and demanding, necessitating the use of implants.
The rising number of surgical procedures and technological advancements like the introduction of robot-assisted surgical procedures are the main aspects driving the global market for powered surgical instruments. The market for powered surgical instruments is further driven by the rising geriatric population globally and the prevalence of lifestyle diseases. Additionally, throughout the forecast period, improvements in medical tourism are anticipated to drive the market for powered surgical instruments. However, the market's expansion is being constrained by a lack of sterilization procedures, a lack of reimbursement, high costs, and a lack of qualified professionals.
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The Growing Surgical Procedures and Technological Development
The demand for powered surgical instruments is rising due to the increased number of surgeries being performed worldwide. People are seeking shorter hospital stays and quicker recovery after surgeries, and powered surgical instruments are becoming more affordable and widely applicable in all operations. Over 4.3 million people in the UK were waiting for surgery, and research indicated that the number of surgeries needed each year would steadily increase, according to an article by Eureka 2019 published in Woodward Study. Even though hacksaws and scalpels are trustworthy surgical instruments, the growing number of procedures on the operating table necessitates that surgeons have access to instruments that consistently deliver high levels of control and precision.
Surgical techniques are evolving quickly in a highly technical healthcare setting. Particularly in surgical procedures involving the nervous system, the eyes, the joints, the mouth, and the heart, the market for powered surgical instruments is experiencing revolutionary and inventive advancements. The search for better tools that will enable surgeons to carry out a variety of surgical interventions quickly and effectively without endangering patient safety is ongoing. Every year, powered surgical drills and screwdrivers with new and enhanced designs are released, providing control, accuracy, and performance never before seen in the operating room. For major medical device players, creating cutting-edge tools, instruments, and systems for various surgical procedures is a top priority. Therefore, throughout the forecast period, introducing such cutting-edge products into the market is predicted to fuel the growth of the medical micro-surgical drills market. These factors propel the global powered surgical instrument market.
Lack of Skilled Professionals
In minimally invasive procedures, medical experts use cutting-edge equipment to operate with less physical harm than in open surgery. The use of such a device requires skilled professionals. The primary users of powered surgical instruments are surgical specialists, and many nations have a global shortage of highly qualified medical personnel. This shortage is more severe in rural areas, where most healthcare facilities are owned by the government.
Furthermore, specialized doctors must receive training in using particular systems as technology develops, such as introducing robot-assisted surgical systems in minimally invasive procedures. The surgeon's inability to control their vision, which can lead to efficiency and safety issues, quick movements or shaky control of the camera, which can cause fogging, the need for a break in the procedure for cleaning, and repositioning the instruments for ergonomic improvement, which can be inefficient, are some of the difficulties that may result from inadequate training with robotic-assisted surgical systems.
Orthopedic surgery, ENT surgery, neurosurgery, and oral and maxillofacial surgery, among other surgeries, are performed with the help of specially created tools or equipment known as powered surgical instruments. Powered surgical instruments are essential for medical device manufacturers under increasing pressure to boost productivity and cut costs. The surgical field has changed due to recent developments in powered tools. Powered surgical tools are currently used in a wide range of minimally invasive procedures, including orthopedic, ENT, dental, and neurosurgery.
The market for powered surgical instruments is sizable and growing, and new innovations and technology are regularly released. Transitioning from conventional surgeries to minimally invasive procedures has helped this market segment grow. The introduction of robotic surgery and rising demand for surgical power tools are the top four emerging trends driving the global market for surgical power tools. There has been a paradigm shift toward the use of single-use power tools. The need for minimally invasive procedures is growing. Medical travel from emerging markets is on the rise. Thus, the development of powered surgical tools is fueled by technological advancements.
The global powered surgical instrument market is classified based on the power source, product type, application, and region.
Per the power source, the segments are Electric Instruments, Battery Powered Instruments, and Pneumatic Instruments.
The electric instrument section is forecasted to advance at a CAGR of 4.67% and hold the largest share. Flammable anesthetics make electrically powered equipment like saws, drills, dermatomes, and nerve stimulators a potential explosion hazard in the operating room. This risk is diminished by the use of less flammable anesthetic gases. Electricity-powered instruments are smaller and more maneuverable, essential for precise procedures like surgery.
The pneumatic instrument section will hold the second-largest share. An instrument powered by compressed air rather than electricity is a pneumatic. An air compressor is needed to supply a pressurized burst of air for pneumatic tools to function. Specially designed pneumatic surgical drills and instruments are powered by compressed air, typically from a central air supply plumbed into the operating room. In an explosive environment, a pneumatic instrument poses no spark or electric shock risks and can be used in wet conditions without risk.
Per the product type, the segments are Handpiece, Disposables, and Accessories.
The disposable section is forecasted to proliferate at a CAGR of 4.11% and holds the largest share of the market. The category is further bifurcated into Drill Systems, Saw Systems, Reamer Systems, Staplers, Shaver, and Other Disposables. The drill system section will hold the majority of the share. The surgical drill systems are precise tools that can hold various drill bits for use in procedures ranging from dental to neurological surgeries. These systems are used to remove decay, shape teeth, so they are ready for fillings, and drill holes in bones so that surgical pins, plates, or screws can be inserted. Additionally, surgical drills reduce the necessity for significant brain retraction by lifting craniotomy bone flaps, removing the skull base bone, and exposing underlying neurovascular structures.
The handpiece section will hold the second-largest share. A surgical handpiece is an instrument made specifically to be held or operated on with the hand. It is employed in various dental operations, such as eliminating decay, polishing fillings, cosmetic dentistry, and modifying prosthetics. Any practice requires handpieces as a necessary tool. Dentists, hygienists, specialists, and lab technicians use it for routine prophy, endodontic, surgical, or restorative procedures.
Per the application, the segments are Orthopedic, Dental, Neurosurgery, ENT Surgery, and Other Application.
With a projected CAGR of 4.2%, the orthopedic section is predicted to account for the largest market share. Worldwide demand for powered surgical instruments for orthopedic applications has significantly increased recently. The prevalence of serious injuries, orthopedic diseases, and the accessibility of cutting-edge technologies are all anticipated to spur market expansion. The increased funding for orthopedic disorders is also anticipated to spur innovation and research, resulting in market expansion.
The dental section will hold the second-largest share. The high prevalence of various dental disorders in the population and the rise in significant companies' strategic initiatives to use powered surgical instruments for various dental procedures are the main factors driving the growth of this market segment. The increased public awareness of dental diseases and the rise in dental visits worldwide support the use of powered surgical instruments for treating dental diseases.
The region-wise segmentation of the global powered surgical instrument market includes North America, Europe, Asia Pacific, South America, and MEA.
North America and Europe will dominate the regional market
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North America is likely to command the powered surgical market while expanding at a CAGR of 4.8%. The aging population and a rise in surgical procedures are two factors driving North America's market expansion. The rise in surgical operations and technological developments, such as robot-assisted surgical procedures among the populace, the rising prevalence of chronic diseases, the rise in the number of new devices receiving FDA approval, and the rise in minimally invasive surgical procedures nationwide are all expected to drive the growth of the power surgical instruments market.
GLOBOCAN predicted that in 2020, an estimated 2,281,658 new cancer cases would be diagnosed and 612,390 cancer-related deaths in the United States. Breast cancer, lung cancer, prostate cancer, colorectal cancer, bladder cancer, and skin cancer were the most prevalent cancers in the country. Additionally, other chronic illnesses are spreading. One of the leading causes of death is heart disease. In the United States, several developments, such as product launches or partnerships between essential players, are strengthening the market expansion there. The region's market is anticipated to grow faster than average due to the increasing prevalence of chronic diseases and the rising demand for minimally invasive procedures.
Europe will hold a share of USD 755 million, growing at a CAGR of 4.4%. A few factors that favorably affect the European market are the rising awareness of healthcare, the availability of reimbursements, and improving infrastructure. The region's market for powered surgical instruments has expanded due to economic expansion, which also assisted in developing insurance policies. The demand for powered surgical instruments is rising along with the number of surgeries performed. A total of 233,300 Caesarean sections were carried out in Germany in 2018, per Eurostat data, fueling the market's expansion.