Handheld surgical devices are tools or instruments used by clinicians or surgeons in operation theaters. The nature of surgeries and the seriousness of injuries or diseases can warrant high-end devices. The global handheld surgical devices market report by Market Research Future (MRFR) outlines salient aspects of the industry in a comprehensive manner for readers. It has highlighted trends, opportunities, and challenges for the period of 2018 to 2023 (forecast period).
Handheld Surgical Devices Market Analysis
The global handheld surgical devices market is poised to display a CAGR of 6.8% over the forecast period. Rising number of surgeries is the primary driver of the market. According to the Eurostat report of 2016, close to 1,040.8 cases of cataract surgery and nearly 406 cases of transluminal coronary angioplasty were recorded. The increasing number of diseases has warranted surgical instruments to increase the chances of success. Sterilization solutions designed to ensure the elimination of microbials and other harmful microorganisms can protect doctors and citizens from infections.
Other prominent drivers of the global handheld surgical devices market include a steady demand for cosmetic surgeries, large number of accidents, high patient awareness levels, and technological advancements. As per the World Health Organization (WHO), close to 10 million are injured due to road accidents annually. This can positively impact market growth.
Lack of skilled personnel and stringent government regulations can be challenging for the global handheld surgical devices market.
Handheld Surgical Devices Market Segmentation
The global handheld surgical devices market is segmented by application, product, and end user.
Major market applications include cardiovascular, wound closure, neurology, orthopedics, urology, gynecology, and others.
Products include auxiliary devices, forceps and spatulas, dilators, graspers, cutter devices, retractors, and others. Auxiliary devices are further segmented into closure devices, clamps, and cannulas. Similarly, cutter devices comprise scissor, trocars, and lancets. Lastly, ‘others’ segment includes snares, punches, blunt dissectors, and curettes.
By end user, the global handheld surgical devices market is segmented into research and academic institutes, hospitals, ambulatory surgical centers, clinics, and others. Clinics held a large market share in 2017 due to rising prevalence of chronic conditions.
Handheld Surgical Devices Market Regional Analysis
Geographically, the global handheld surgical devices market covers the Americas, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).
The Americas can lead the global market due to requirement of diagnosis of chronic conditions and a large susceptible geriatric populace. According to the data of Center for Disease Control & Prevention (CDC), close to 28.1 million were diagnosed with heart disease in the U.S. Large number of cosmetic surgeries in the region owing to emphasis on external appearances can. Europe, on the other hand, is the second largest region due to rise in research and development investments and large number of surgical procedures. According to the WHO, the numbers of chronic diseases in the region can rise at a rapid rate sparking the need for handheld devices.
APAC is expected to showcase the fastest growth in the global handheld surgical devices market owing to the large healthcare expenditure, the expansion of the healthcare sector, and an astounding number of surgical procedures. Emergence of dental clinics amid the background of oral health awareness can fuel the demand for surgical instruments. Lastly, the MEA region has the lowest market share owing to fewer investments in the healthcare sector.
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Handheld Surgical Devices Market Competition Outlook
Stryker, Zimmer Biomet Holdings, B. Braun Melsungen AG, Aspen Surgical, Pelion Surgical, Medtronic, Integra LifeSciences Corporation, Medicon Eg, CooperSurgical Inc., Millennium Surgical Corp, Johnson & Johnson, Smith & Nephew, Becton, Dickinson and Company (BD), Thompson Surgical, KLS Martin, and Elite Medical are major players of the global handheld surgical devices market.
