DALLAS, November 25, 2014 /PRNewswire/ --
According to the new research report "Powered Surgical Instruments Market by Power Source (Electric, Battery, Pneumatic), by Product (Drill, Saw, Stapler, Reamer, Battery, Console, Cables, Blade, Burr, Cart), by Application (Orthopedic, ENT, Oral, Thoracic, Neurology) - Global Forecasts to 2019" published by MarketsandMarkets, the global Powered Surgical Instruments Market is estimated to be worth around $1.5 to $1.6 Billion in 2014 and is expected to grow at a moderate CAGR during the forecast period of 2014 to 2019.
Browse 98 market data tables and 29 figures spread through 200 pages and in-depth TOC on "Powered Surgical Instruments Market"
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This report studies the Powered Surgical Instruments Market over the forecast period of 2014-2019.
The Powered Surgical Instruments Market registered a healthy growth rate during the last decade primarily attributed to the rising aging population, increasing volume of surgical procedures performed, and technological developments. The demographic trend of rise in aging population across the globe has caused a corresponding rise in the prevalence of chronic disorders that primarily includes cardiovascular diseases, orthopedic conditions, and neurological diseases. All of these conditions require surgical interventions, thus leading to an increase in the number of surgical procedures performed. The advancing medical tourism industry, rising prevalence of chronic diseases that require surgical procedures, and favorable reimbursement scenarios in developing economies is expected to drive this market in coming years. However, the intense pressure to reduce healthcare costs, inadequate quality assurance standards, and lack of sterilization practices for equipment are likely to hinder the growth of the market to a certain extent.
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In this report, the Powered Surgical Instruments Market is segmented by power source, products, applications, regions, and countries. The report also discusses key market drivers and restraints of, and opportunities in, this market and its submarkets. The market is expected to grow at a moderate CAGR from 2014 to 2019.
In 2013, North America was the major leader in this market, with nearly 30-35% share of the global market, followed by Europe. The highly developed healthcare infrastructure, advent of new technologies, growing aging population, and favorable regulatory framework in the North American and European region has led to the large market shares of these regions. However, the highest growth opportunities for this market are in the Asia-Pacific region. The APAC market is expected to grow at a high CAGR during the forecast period.
The major players in the Powered Surgical Instruments Market include B. Braun Melsungen AG (Germany), Conmed Corporation (U.S.), Covidien Plc (Ireland), Johnson & Johnson (U.S.), Medtronic, Inc. (U.S.), Stryker Corporation (U.S.), and Zimmer Holdings (U.S.).
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