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According The Business Research Company’s research report on hand surgical instruments market, an increase in the geriatric population is driving the handheld surgical instruments market. The geriatric population is made up of adults aged 65 and over. People at this age are more likely to get sick and catch a serious illness that requires proper treatment and surgery. Surgical instruments are used in surgeries and treatment of various diseases. For example, according to a report by the United Nations on the aging of the world population 2020, an intergovernmental organization based in the United States, the aging of the world population in 2020 was approximately 727 million people aged over 65 and is expected to reach 1.5 billion in 2050. Across the world, there is an increase in the population over 65 years of age which stood at 9.3% in 2020 and is expected to reach 16.0% by 2050. Hence, increasing geriatric population will propel the handheld surgical instruments market.
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The global market for hand-held surgical instruments should go from $4.83 billion in 2021 to $5.18 billion in 2022 at a compound annual growth rate (CAGR) of 7.35%. The Russian-Ukrainian war has disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, a spike in commodity prices and supply chain disruptions, affecting many markets around the world. The Hand Surgical Instruments Market is Expected to Reach $7.00 billion in 2026 at a compound annual growth rate (CAGR) of 7.78%.
Technological advancement is a key trend that is gaining popularity in the portable surgical instruments market. Major players in the portable surgical instruments market are adopting smart surgical instruments to treat various diseases. Smart surgical instruments are advanced, user-friendly tools that save time and money. For example, in November 2021, OrthAlign, a US-based medical equipment manufacturer, introduced a new handheld smart surgical instrument called Lantern for full and partial knee replacements. The solution offers streamlined workflows to reduce OR wait times and support many ORs at once without requiring the investment in hardware or preoperative imaging required by various assisted surgical systems by computer.
Major players in the hand-held surgical instruments market are Johnson & Johnson, B Braun Melsungen AG, Medtronic, Zimmer Biomet Holdings, KLS MARTIN GROUP, Integra LifeSciences Corporation, Smith & Nephew, Aspen Surgical, CooperSurgical Inc, Thompson Surgical Instruments Inc, Becton Dickinson and Company, Swann-Morton Ltd, Peters Surgical, Huaiyin Medical Instruments CoLtd and CONMED Corporation.
The global market for hand-held surgical instruments is segmented by product into pliers, retractors, dilators, grippers, scalpels, others; by application in neurosurgery, cardiovascular, orthopedic, plastic and reconstructive surgery, obstetrics and gynecology, others; by the end user in clinics, outpatient surgical centers, etc.
North America was the greater region in the hand-held surgical instruments market in 2021. Asia Pacific should be the fastest growing region in the forecast period. Regions covered in the Portable Surgical Instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global Portable Surgical Instruments Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026 is part of a series of new reports from The Business Research Society which provides the forecasted Surgical Instruments market size and growth, Surgical Instruments Market segments and geographies, Surgical Instruments market trends, drivers and restraints, revenue, profiles and shares. of key competitors in more than 1,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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