According to the World Health Organization, approximately 1.5 million fatalities, and 20-50 million non-fatal injuries occur every year. Perpetual increase in injuries caused by accidents and an expanding population of aged people are the factors driving the growth of the global surgical instruments market during the forecast period of 2019-2025. As per a newly published research report from IndustryARC, the global surgical instruments market size is estimated between $10.2 billion to $11.5 billion, and the demand for the market is projected to grow at a notable CAGR of 6% to 6.8% during the forecast period.
Surgical instruments are medical devices that are used to perform procedures such as cutting, modifying biological tissue, holding, and dissection during a surgery or operation. As per the analyst of the report, surgical sutures and staplers segment have a wide range of applications among other product segments such as handheld surgical devices, and electrosurgical devices. The demand for the sutures and staplers is estimated to grow at a hefty CAGR of 35% to 37% during the forecast period of 2019-2025. Surgical sutures and staples are used to cover the skin wounds and to connect or remove parts after the surgery. During the stapling method, the staplers will compress the edges of the wound by closing blood vessels and acts as the hemostat.
Geographically, North America is depicted as the key region for the growth of the surgical instruments market, with a maximum share of 39% to 43% during the forecast period of 2019-2025. High production of raw materials, availability of well trained and experienced doctors, and the latest innovation of various instruments are the factors contributing to the surge in this region. The report is titled “Surgical Instruments Market: by type (open surgery, minimally invasive surgery); by product (handheld instruments and others); by the application (cardiothoracic and others); by end users (private hospitals, government hospitals) & by region – forecast (2019 – 2025)”.
Global Surgical Instruments Market: Trends
Minimization of Time –Owing to recent innovation, to minimize the total time it takes for a surgeon in feeding screws into plates attached to skulls, powered screwdrivers and drills have been designed in the pharmaceutical industry. Using this improvement, within a fraction of minutes, 15 to 20 screws can be positioned into the skull by surgeons. This novelty is used to reduce a patient’s exposure to anesthesia and also to decrease the surgeon’s hand stress by reducing the time taken for the operation.
- Innovations to Meet Surgeon Need –
TeDan Surgical Innovations is offering various types of surgical instruments manufactured from high-quality materials with exacting specifications to the surgeons. They carry a large variety of sizes and styles of lumbar and cervical curettes, osteotomies, suction tubes, Cobb elevators, and rongeurs to satisfy the surgeon and patient requirements.
Global Surgical Instruments Market Companies: Recent Developments
Some of the major players operating in the global surgical instruments market are Medtronic Plc., Stryker Corporation, Johnson & Johnson, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew Plc, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG, KLS Martin Group, and Others.
- Stryker Corporation –
Recently Stryker’s product TritaniumTL Curved Posterior Lumbar Cage has approved with 510(k) clearance by the U.S. Food and Drug Administration in March 2018. This product is a 3D-printed underbody fusion cage which is mainly used for aiding lumbar fixations. Further, it is used to create the desired environment for cell attachment in osteoblast because of its unique porous structure.
Surgical instruments are useful for performing medical procedures such as cutting, modifying biological tissue, holding, and dissecting during a surgery. To minimize the total time it takes for a surgeon in feeding screws into plates attached to skulls, powered screwdrivers and drills are now designed. This latest innovation technology is creating new avenues for revenue for the players operating in the surgical instruments market.
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