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

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.