Handheld Surgical Devices Market Size, Industry Growth and Top Leaders
Increasing number of surgical procedures is the key factor
driving the handheld surgical devices market. According to the Australian
Institute of Health and Welfare, during 2015–16, 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.
The Global handheld
surgical devices market is expected to grow at an approximate CAGR of 6.8%
during forecast period, 2018–2023.However, lack of skilled or trained
physicians and strict government regulations can hinder the market growth over
the forecast period.
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Key Players
Some of the key players in the global handheld surgical
devices market 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.
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 in 2017 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.
In 2017, it was estimated that 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.
According to the 2016 data suggested by Eurostat, around 1040.8 cases of
cataract surgery and 406.2 cases of transluminal coronary angioplasty are
registered in Germany.
Asia Pacific was projected to be the fastest growing region
in 2017. 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.
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