Global surgical power tools market forecast
Extensive research carried out by the analysts at Technavio has shown that the global surgical power tools market will witness steady growth and will post a moderate CAGR of more than 3% over the forecast period. With the increasing adoption of battery-driven cordless surgical power tools, this market is anticipated to have a positive outlook in the coming years. The use of Li-ion batteries in surgical tools greatly improves the workflow efficiency of surgeons as these batteries offer greater energy density, improved reliability, longer life cycle, and higher performance. Moreover, the rapid technological advancements and increasing market competition have driven the vendors to offer more battery-powered surgical instruments in their product portfolios. The companies are focusing on developing powered surgical instruments that are lighter in size and ergonomically designed. Furthermore, while conventional surgical tools have limitations in sterilization methods, battery-powered surgical tools can be sterilized by various methods such as hydrogen peroxide gases, ethylene oxide gases, and gamma rays.
The advent of robotic surgery is one of the significant trends that is expected to fuel the demand for surgical power tools during the predicted period. The surgical tools are integrated with robots that perform various procedures including minimally invasive surgeries. In addition, most surgical robots work with multi-arms, thereby increasing the demand for various surgical power tools. For instance, the University of Washington has developed a surgical robot that can use multiple surgical tools during operations. Surgical robots are self-powered, computer-controlled devices that can be programmed to support the positioning and manipulation of surgical instruments including surgical power tools. Moreover, surgical robotic systems provide less post-surgical complications and help in reducing labor cost, leading to its increased adoption in hospitals worldwide.
Competitive landscape and key vendors
The global surgical power tools market is characterized by the presence of several large, medium, and small players. The vendors compete on the basis of various factors such as price, availability, brand, and variety, where price is set to become a major cause of competition as it enables players to gain an edge in the market. Although the leading companies hold dominant positions, the other factors such as innovation, superior product development, and design will change the competitive dynamics in the market. The vendors are focusing on developing robotic surgery systems to improve workflow efficiency and patient care.
Key vendors in this market are
- CONMED
- DePuy Synthes
- Medtronic
- Stryker
- Zimmer-Biomet
Other prominent vendors in the market include Adeor Medical, Aesculap, Arthrex, Aygun Surgical Instruments, B. Braun, Ceterix Orthopaedics, De Soutter Medical, DSM Biomedical, Ermis, Gordian Surgical, Insurgical, In’Tech Medical, KLS Martin, MARIOTTI & C, Mazor Robotics, MedicMicro, MicroAire, Nouvag, OsteoMed, Peter Brasseler Holding, Portescap, Pro-Dex, Shangai Bojin Medical Instrument, Smith & Nephew, and Stars Medical Devices.
Segmentation by application and analysis of the surgical power tools market
- Orthopedic surgeries
- Dental surgeries
- ENT surgeries
According to the surgical power tools market analysis, the orthopedic surgery was the highest revenue contributing segment and accounted for close to 87% of the total market shares. Surgical power tools find extensive applications in orthopedic surgeries as sawing and drilling through hard bones is involved. The surgeons use powered surgical instruments to cut, drill, and shape bone. Some of the tools employed in the orthopedic surgeries include drill systems, saws, burrs, power pulse lavage system, an orthopedic cast cutter. A shift in the use of single-use surgical power tools over traditional reusable surgical power tools has been observed in this segment. Single-use surgical power tools are cost-effective alternatives to reusable power tools as single-use surgical power tools are delivered to hospitals pre-sterilized and in a single-use format, which will boost this segment’s growth over the next four years.
Geographical segmentation and analysis of the surgical power tools market
Based on the surgical power tools market insights, the Americas dominated the global surgical power tools market and accounted for more than 52% of the market shares during 2015. The increasing need for surgical procedures for disorders such as oral, thoracic, neurology, orthopedic, and ENT are driving the demand for surgical power tools in the region. Furthermore, factors such as technological advancements, the US FDA approval for new products, and subsequent product launches are also likely to drive this market’s growth in the Americas.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global surgical power tools market?
- What are the key market trends impacting the growth of the global surgical power tools market?
- What are the challenges to market growth?
- Who are the key vendors in the global surgical power tools market?
- What are the market opportunities and threats faced by the vendors in the global surgical power tools market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global surgical power tools market?
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