Market Research Future (MRFR) has published on the “Global Handheld Surgical Devices Market”.
The handheld surgical devices market is estimated to register a CAGR of 10.12% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global handheld surgical devices market— Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Medline Industries Inc., Peter Surgical, Medtronic Plc, Abbott, Boston Scientific Corporation, Stryker, Smith & Nephew, Coloplast Corp., Terumo Medical Corporation, Integra Lifesciences Holdings Corporation, Olympus Corporation, and Johnson & Johnson Services, Inc.
The global handheld surgical devices market is expected to register a CAGR of 10.12% during the forecast period and is estimated to reach USD 29.83 billion by 2032.
Nonpowered, handheld, or hand-manipulated devices such as scalpels, forceps, and retractors are examples of hand-held surgical devices and equipment. The most common handheld devices include scalpels, forceps, retractors, dilators, graspers, and other handheld surgical devices. Neurosurgery, cardiovascular, orthopedic, plastic & reconstructive surgery, obstetrics & gynecology, and other applications are involved, which are used by various end-users such as hospitals, specialized clinics, long-term care centers, ambulatory surgery centers, and others.
The growing prevalence of chronic disorders, such as cardiovascular, neurological, urological, and infectious diseases and increasing use of handheld devices in minimally invasive surgeries are major factors driving the growth of the global handheld surgical devices market. However, the competitive pricing among competitors is expected to hamper the growth of the market. Nevertheless, it is anticipated that the growing demand for aesthetic surgeries will create lucrative opportunities for the players operating in the global market.
The global handheld surgical devices market has been segmented based on product type, application, and end user.
On the basis of product type, the market is segmented into graspers, retractors, mechanical cutters, suction tips and tubes, irrigation and injection needs, scopes and probes, sutures, forceps, tweezers, and others. The forceps segment held the majority share in the market in 2022. Surgical forceps are grasping-type surgical devices used for clamping, tweezing, and applying pressure during surgeries and other procedures. They can have either tweezer-style handles or ring handles used to hold or grasp tissue, dressings, or other objects. There are two primary types of surgical forceps, including locking forceps and non-locking forceps. Surgical forceps are important handheld surgical devices commonly made of high-grade carbon steel.
On the basis of the application, the market is segmented into orthopedic surgery, ophthalmology, cardiology, wound care, urology and gynecology surgery, plastic surgery, thoracic surgery, neurosurgery and others. The orthopedic surgery segment held the largest market share in 2022. Laparoscopic devices are proved to be effective tools for diagnostic and therapeutic purposes. The rise in funding and increasing number of orthopedic surgeries around the globe is helping this segment to grow further.
Based on end user, the global handheld surgical devices market has been segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospital & clinics segment dominated the market in 2022. The rising prevalence of cardiovascular and other chronic disorders has further driven the growth of the segment. Moreover, the increasing number of multispecialty & community hospitals across the globe and increasing healthcare expenditure are also boosting the hospitals & clinics segment in the forecast period.
Access full report @ https://www.marketresearchfuture.com/reports/handheld-surgical-devices-market-7210
The global handheld surgical devices market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe handheld surgical devices market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The handheld surgical devices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World handheld surgical devices market comprises of Middle East, Africa, and Latin America.
The North America regional market is the largest market in terms of revenue. The market is driven by the increasing prevalence of cardiovascular, cancer, neurological, and autoimmune disorders in this region. In addition, technical advancements in handheld surgical devices are increasingly adopted by surgeons due to the improvement in ease of use. For instance, according to the study titled 'Trauma of major surgery' published in July 2020, about 50 million surgeries are performed in the United States. The rising prevalence of cardiovascular disorders is attributed to the market growth in this region. As per the article published by the University of Alabama in November 2021, nearly 350,000 Coronary Artery Bypass Graft (CABG) Surgeries are done each year in the US.
Europe is the second largest market in terms of revenue. The growing demand for safe surgical devices that are used in minimally invasive surgeries, rising research and development investments, and increasing the geriatric population are the major factors that are driving the market growth in Europe. The increasing burden of injuries and accidents leads to minimally invasive surgeries, which is likely to boost regional growth. For instance, according to Istat.org, 151,875 accidents occurred in Italy in 2021, in which 204,728 were injured. In addition, the rising burden of gastrointestinal diseases is also attributed to the market growth in this region.
Additionally, owing to the growing population, the increasing spending power of consumers, and the high prevalence of chronic disorders are the major factors that are driving the market growth. In addition, growing medical tourism in developing economies due to the lower cost of procedures as compared to other developed countries is also helping to propel the growth of the market in the Asia Pacific region. Additionally, the growing demand for handheld surgical devices in various fields of medicine such as neurology, urology, orthopedics, gynecology, and in other surgical procedures, rising awareness among consumers towards healthcare, and growing consumer affordability are some of the key factors driving handheld surgical devices market in this region.
Furthermore, the rest of the world accounted for the lowest market share in the handheld surgical devices market. Increasing healthcare expenditure and growing cases of injuries and accidents are significantly contributing to the handheld surgical devices market growth in the rest of the world. Moreover, the rise in the number of patients, increasing per capita disposable income, initiatives undertaken by various public and private organizations to provide improved access to healthcare, and increasing awareness is anticipated to drive market growth in the coming years. Moreover, the presence of good medical tourism and international companies attracting many investors for investing in this region, especially UAE and Saudi which will boost the market in coming years.
Key Findings of the Study