USD 5.08 billion
Global Hand-held Surgical Instruments Market Size, Share, Growth Analysis, By Product(Forceps, Retractors), By Application(Neurosurgery, Cardiovascular), By End-User(Hospitals, Clinics) - Industry Forecast 2024-2031
Report ID:
SQSG35A2034 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
99 |
Figures:
76
Global Hand-held Surgical Instruments Market Insights
Hand-held Surgical Instruments Market size was valued at USD 5.08 billion in 2019 and is poised to grow from USD 5.2 billion in 2023 to USD 9.6 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
The market is primarily being driven by the increased prevalence of chronic ailments like cardiovascular, urological, neurological, and infectious diseases. Additionally, it is anticipated that the rising elderly population, which is susceptible to a number of ailments, will indirectly encourage the use of these instruments. In the second half of the pandemic, when things were fully under control, hospitals and other settings started performing surgeries in large numbers. As a result, the market was able to rebound in 2019.
The demand for hand-held surgical instruments is anticipated to increase as a result of significant surgical procedure backlogs and rising demand for elective surgeries. When compared to other chronic illnesses, heart disease is more common everywhere because of inactivity, obesity, smoking, poor diet, and family history. Diabetes, hypertension, and hyperlipidemia are additional cardiovascular problem risk factors. About 20.1 million persons aged 20 and older had coronary artery disease in 2019, according to the CDC.
Cardiovascular, orthopaedic, and neurological problems are all very common in people 60 and older. Consequently, it is anticipated that a rise in the elderly population will raise demand for handheld surgical equipment. Additionally, one of the high-impact contributing variables driving up demand for handheld surgical instruments is an increase in the amount of traffic accidents.
Another factor driving the market for hand-held surgical equipment is the rise in surgical operations as well as the rising demand for cosmetic surgery.
Over the past several years, demand for procedures such as breast surgery, eyelid surgery, liposuction, nose reshaping, and tummy tuck surgeries has increased, increasing demand for hand-held surgical equipment and pushing the market. Over the projected period, the hand-held surgical tools market is expected to be driven by expanding surgical instrument developments and rising acceptance of innovative surgical equipment by surgeons. The use of high-quality instruments by surgeons is a constant priority in order to execute surgeries efficiently and quickly without compromising the health of the patient.
US Hand-held Surgical Instruments Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
scalpels
Fastest Growth
scalpels
Growth Rate
7.2% CAGR
Global Hand-held Surgical Instruments Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Hand-held Surgical Instruments Market Size By Product type , 2021-2028 ($ Bn)
Global Hand-held Surgical Instruments Market Size By product type, 2021-2028 (%)
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Global Hand-held Surgical Instruments Market Segmental Analysis
Global hand-held surgical instruments market is segmented based on the product, application, end-user, and region. Based on the product the global hand-held surgical instruments market is segmented into forceps, retractors, dilators, graspers, scalpels, and others. Based on the application, the global hand-held surgical instruments market is segmented into neurosurgery, cardiovascular, orthopedic, plastic and reconstructive surgery, obstetrics and gynecology, and others. Based on end-user, the global hand-held surgical instruments market is segmented into hospitals, clinics, ambulatory surgical centers, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Hand-held Surgical Instruments Market Analysis by Product
Retractors are expected to have profitable growth throughout the forecasted period as a result of technological advancements in product development. Self-retaining retractors, for instance, are useful in hands-free surgery. These retractors are offered with opposable blades that separate the tissues on their own using a clamp or screw. The minimally invasive system created by Spineology, based in St. Paul, Minnesota, only needs one tubular retractor to accommodate endoscopes and other endoscopic tools during such procedures. The OptiMesh multiplanar expandable implant enables the single-tube system to use a tubular retractor with a small diameter.
In 2021, forceps also had a sizable market share. These devices aid in holding tiny things that, for example, cannot be grabbed with the fingers during tooth extraction. A variety of forceps, including dressing, hemostat, sponge, needle holder, obstetric, tissue, tubing, and towel forceps, are utilized during operations depending on the technique. Obstetric forceps can be useful during labor in a variety of circumstances. As a result, there are more than 600 distinct kinds of forceps, only around 15 or 20 of which are commercially accessible now. Most hospitals have five to eight different kinds of forceps on standby. All forceps have a few design features even if they were individually intended for a certain delivery scenario.
Hand-held Surgical Instruments Market Analysis by Application
The other segment which included general surgery, urologic surgery, thoracic surgery, wound closure, and microvascular operations, held the biggest revenue share in 2021. An increase in general surgeries is a key element fueling the segment's expansion. For example, research found that during the course of two years, 9284 procedures were carried out in a population of 88,273 individuals; of these, 2176 (47 percent) were done on males and 2466 (53 percent) on women. The seventh decade had the most procedures are done (60–69 yrs.). In the study population, 4624 procedures were performed annually on average, while the standardized estimate for India as a whole was 3646 surgeries annually per 100,000 Indians.
Due to a rise in C-section procedures, the gynecology and obstetrics area also made a substantial contribution to revenue growth in 2021. The episiotomy and cervical cerclage are two typical surgical procedures affecting female reproductive systems. Only 5% of women in sub-Saharan Africa and 8% of women in the least developed nations gave birth through cesarean section, demonstrating a worrying lack of access to this life-saving procedure. In contrast, rates are as high as 4 in 10 (43 percent) of all births in Latin America and the Caribbean. In five nations—the Dominican Republic, Brazil, Cyprus, Egypt, and Turkey—the prevalence of cesarean sections has surpassed that of vaginal births. Worldwide rates of cesarean sections have increased from 7% in 1990 to 21% now, and they are expected to keep rising over the next ten years. According to the study, the greatest rates are predicted to be in Eastern Asia (63%) followed by Latin America and the Caribbean (54%) Western Asia (50%) Northern Africa (48%) Southern Europe (47%), and Australia and New Zealand (45%) by 2030.
Reconstructive plastic surgery is frequently used to repair the face, ears, eyes, nose, and breast, among other body parts. High market growth is projected throughout the forecast period as a result of this. Additionally, there has been a progressive increase in the number of plastic procedures performed with rising disposable income. Additionally, this is anticipated to be good for the segment.
Global Hand-held Surgical Instruments Market By product type, 2021 (%), 2019 (%)
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Global Hand-held Surgical Instruments Market Regional Insights
In terms of market share and revenue, North America now dominates the hand-held surgical instruments market. This is because chronic illnesses are becoming more common and healthcare services are becoming more inventive. About 133 million Americans suffer from chronic illnesses, accounting for more than 40% of the nation's population and being typically incurable and continuous. It is anticipated that by 2020, there would be 157 million people worldwide, 81 million of whom will have various illnesses. Around 8% of children aged 5 to 17 reported having limited activities because of at least one chronic illness or impairment, while around 50% of adults report having a chronic condition. More and more people are dealing with two or more chronic diseases, rather than just one, like diabetes, heart disease, or depression. Almost one-third of people today are dealing with several chronic illnesses.
On the other hand, Asia-Pacific is anticipated to see the greatest growth rate during the projection period due to the region's expanding elderly population, increased investment in healthcare infrastructure, and rising demand for micro surgeries. Rapid aging in Asia and the Pacific has positioned the area at the forefront of one of the most significant global demographic trends, thanks to increased life expectancies and declining birth rates. In Asia and the Pacific, one in four persons will be older than 60 by 2050. Between 2010 and 2050, the number of senior people (those over 60) in the region will quadruple, growing to around 1.3 billion. This shift will occur quickly in certain nations, like the People's Republic of China, Sri Lanka, Thailand, and Vietnam, and slowly in others, like Indonesia, but both will end up with sizable populations of elderly people.
Global Hand-held Surgical Instruments Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Hand-held Surgical Instruments Market Dynamics
Hand-held Surgical Instruments Market Driver
- Over the next years, the need for cosmetic operations will propel the expansion of the hand-held surgical instrument market. Additionally, the aged population is projected to grow quickly in the next years, which will have a substantial impact on market revenue overall. Additionally, improvements in interface and instrument design will enable doctors to get more use out of their devices, spurring market expansion.
- The rising prevalence of neurological diseases is one of the first elements boosting the market for portable surgical devices. Increased investment on R&D activities for new product advancements and growing personal disposable income are two more indirect market growth factors. The market is expanding as a result of increased efforts to educate women and raised awareness of women's health.
Hand-held Surgical Instruments Market Restraint
- Furthermore, a significant contributing element is the rise in the number of traffic accidents. On the other hand, the rise in minimally invasive and non-invasive surgical procedures is anticipated to restrain market growth.
- The popularity of noninvasive and minimally invasive therapies for chronic illnesses is predicted to slow the market expansion for portable surgical devices. When compared to open operations, minimally invasive surgical techniques like laparoscopy need fewer incisions, which might somewhat offset the demand for portable surgical instruments.
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Global Hand-held Surgical Instruments Market Competitive Landscape
The global hand-held surgical instruments market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Hand-Held Surgical Instruments Market
- Johnson and Johnson Private Limited
- B. Braun Melsungen AG
- Integra LifeSciences Corporation
- Medtronic plc
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Conmed Corporation
- KLS Martin Group
- MicroAire Surgical Instruments LLC
- CooperSurgical Inc.
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Cook Medical LLC
- Olympus Corporation
- Richard Wolf GmbH
- Teleflex Incorporated
- Terumo Corporation
- Wexler Surgical
- Karl Storz SE & Co. KG
Hand-held Surgical Instruments Market Recent Developments
- In July 2022, announcing a strategic relationship with Kefar Sava, Israel-based CathWorks, a privately held business with the goal of revolutionizing the diagnosis and treatment of coronary artery disease (CAD), Medtronic plc, a pioneer in healthcare technology, said it has signed the deal.
- In May 2022, the breakthrough devices used in sinus treatments to enhance post-operative outcomes and treat nasal polyps have been added to Medtronic plc's entire ear, nose, and throat (ENT) portfolio with the completion of the company's purchase of Intersect ENT, according to the announcement.
Global Hand-held Surgical Instruments Key Market Trends
- All throughout the world, there are a lot of surgical operations performed. This is another factor that is most likely to propel the sector in the next years. A growing market for handheld surgical devices might be developed as a result of rising traffic accident rates, particularly in developing countries where the population is aging. The industry is expanding as a result of greater efforts to educate women and raise awareness of their health.
- The Association for Safe International Road Travel estimates that 2.35 million individuals are hurt in traffic accidents each year. Burn-related injuries, sports-related injuries, trauma, and fall injuries are examples of other mishaps. According to the American Burn Association, almost 44% of all hospital admissions were due to burning injuries. The market for portable surgical equipment is expanding because severe injuries typically require surgical intervention.
Global Hand-held Surgical Instruments Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global hand-held surgical instruments market analysis, in terms of product, the retractor segment held the largest share in the global hand-held surgical instruments market as a result of technological advancements in product development. Self-retaining retractors, for instance, are useful in hands-free surgery. These retractors are offered with opposable blades that separate the tissues on their own using a clamp or screw. In terms of application, the others segment held the largest share in the global hand-held surgical instruments market. An increase in general surgeries is a key element fueling the segment's expansion. Based on region, the North American region held the largest share in the global hand-held surgical instruments market. This is because chronic illnesses are becoming more common and healthcare services are becoming more inventive.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 5.08 billion |
| Market size value in 2031 | USD 9.6 billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hand-held Surgical Instruments Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hand-held Surgical Instruments Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Hand-held Surgical Instruments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hand-held Surgical Instruments Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hand-held Surgical Instruments Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hand-held Surgical Instruments Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hand-held Surgical Instruments Market Report Snapshots
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