Handheld Surgical Devices Market Highlights
Handheld Surgical Devices Market insights report has valued the industry size at USD 3.2 billion in 2022. The handheld surgical devices market industry is projected to grow from USD 3.4 Billion in 2023 to USD 5.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.10% during the forecast period (2023 - 2030).
Increasing number of surgical procedures is the key factor driving the handheld surgical devices market. According to the Australian Institute of Health and Welfare, there were 10.6 million hospitalisations, and 1 in 4 hospitalisations involved a surgical procedure.
Various other factors such as increasing incidence of accidents, high geriatric population, technological advancements, increasing demand for plastic & reconstructive surgery, and rising patient awareness regarding the benefits of handheld surgical devices are also expected to propel the growth of the market.
However, lack of skilled or trained physicians and strict government regulations can hinder the market growth over the forecast period.
Segmentation
The Global handheld surgical devices market is segmented based on application, product, end user and region.
The Global market for handheld surgical devices, by application is segmented into neurology, urology, orthopedics, gynecology, cardiovascular, wound closure, and others.
The market, by product, is segmented into forceps and spatulas, retractors, dilators, graspers, auxiliary devices, cutter devices, and others. The auxiliary devices segment is further classified as clamps, cannulas, and closure devices. The cutter devices segment is further classified as trocars, lancets, and scissor. The others segment includes punches, curettes, blunt dissectors, and snares.
Based on end user, the market is segmented into hospitals, clinics, ambulatory surgical centres, research and academic institutes, and others. Clinics held a lucrative market share due to rising prevalence of chronic conditions.
Regional Analysis
The Americas dominated the global market for handheld surgical devices owing to the increasing prevalence of chronic conditions, and high geriatric population.
Europe stood second in the global handheld surgical devices market. This can be attributed to the increasing cases of surgical procedures, and rising research and development investments.
Asia Pacific was projected to be the fastest growing region. Factors such as growing healthcare sector, increasing penetration of the market players within the region, increasing healthcare expenditure, a rising number of surgical procedures drive the regional markets of the Asia Pacific region. On the other hand, the Middle East and Africa held least share in the global handheld surgical devices market due to the low per capita income, especially within the African region.
Key Players
Some of the key players profiled in the handheld surgical devices market outlook report are B. Braun Melsungen AG, Integra LifeSciences Corporation, Zimmer Biomet Holdings, Pelion Surgical, Medtronic, Smith & Nephew, Johnson & Johnson, Millennium Surgical Corp, Medicon Eg, Elite Medical, Becton, Dickinson and Company (BD), Thompson Surgical, Stryker, Aspen Surgical, KLS Martin, CooperSurgical Inc., and others.
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