The global powered surgical instruments market is growing, according to a MarketsandMarkets report, and the top players are poised to lead into the future.
Here are 10 trends from the report:
1. The market is expected to grow at a moderate compound annual growth rate through 2019 to reach $2.1 billion.
2. There is a need for highly specialized technical knowledge and skill to use this equipment, which could hamper adoption.
3. The pressure to reduce healthcare costs may also slow growth in the powered surgical instruments market.
4. The electric-powered surgical instruments segment accounts for a major share of the powered surgical instruments market.
5. The battery-powered surgical instruments segment is expected to have the fastest growth due to rapid technological evolution and battery lifecycle and energy per volume improvement.
6. North America is expected to contribute the largest share to the global powered surgical instruments market in 2019. Europe will have the second largest and the Asia-Pacific is expected to come in third.
7. Developed countries will have lower compound annual growth rate, while the Asia Pacific is expected to have the fastest growth.
8. Growth in the Asia Pacific market will be driven by increased healthcare spending, the advanced medical tourism industry, increasing chronic disease and more access to healthcare facilities.
9. Johnson & Johnson and Stryker were leading players in the market last year, accounting for around 40 percent to 50 percent of the market in 2013. J&J has a diversified portfolio while Stryker has experience in the market and a strong geographical presence with business operations in several countries.
10. The major players in the field, according to the report, are:
• B. Braun Melsungen AG
• CONMED
• Covidien
• Johnson & Johnson
• Medtronic
• Stryker
• Zimmer