How is the Hand-Held Surgical Instruments Market Poised for Growth: Trends and Opportunities Through 2034
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How has the hand-held surgical instruments market size evolved in recent years?
In the recent past, there has been robust expansion in the market size of handheld surgical tools. The market, which was worth $7.01 billion in 2024, is predicted to reach $7.6 billion in 2025. This implies an annual cumulative growth rate (CAGR) of 8.4%. Various factors such as advancements in minimally invasive surgery, increasing age of the population, improvements in healthcare infrastructure, a rise in chronic diseases, and regulatory compliance, have contributed to the growth during the historical period.
What are the predictions for the hand-held surgical instruments market size in the coming years?
In the ensuing years, the market for hand-held surgical instruments is projected to experience swift expansion. The projected compound annual growth rate (CAGR) is 11.4%, lining up to be worth $11.69 billion by 2029. The rapid growth expected during this period can be traced to various factors such as the rise of personalized medicine, telemedicine and remote surgery, increased healthcare spending, the growing healthcare market, and advancements in surgical training and skills development. The period will also witness some significant trends like the incorporation of surgical robotics, the adoption of sustainable and environment-friendly solutions, the development of advanced materials and coatings, the advancement of telemedicine and remote surgery, and the shift towards smart and connected instruments.
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What key factors are fueling the growth of the hand-held surgical instruments market?
The hand-held surgical instruments market is getting a boost from the growing number of elderly people, those aged 65 and above. As individuals in this age group have a higher likelihood of contracting serious illnesses requiring medical treatment and surgical procedures, the demand for surgical tools is escalating. These instruments are crucial in performing surgeries and treating various ailments. For instance, forecasts from the World Health Organization in October 2022, a specialized health agency from the US, predicted that by 2030, 1 out of every 6 individuals globally would be aged 60 or over. Moreover, the global elderly population is anticipated to reach 2.1 billion by the year 2050. As a result, the surge in the geriatric population is triggering an upwards trend in the hand-held surgical instruments market.
How is the global hand-held surgical instruments market divided into key segments?
The hand-held surgical instruments market covered in this report is segmented –
1) By Product: Forceps, Retractors, Dilators, Graspers, Scalpels, Other Products
2) By Application: Neurosurgery, Cardiovascular, Orthopedic, Plastic And Reconstructive Surgery, Obstetrics And Gynecology, Other Applications
3) By End User: Clinics, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Forceps: Tissue Forceps, Hemostatic Forceps, Dressing Forceps
2) By Retractors: Hand-held Retractors, Self-Retaining Retractors
3) By Dilators: Urethral Dilators, Cervical Dilators
4) By Graspers: Tissue Graspers, Laparoscopic Graspers
5) By Scalpels: Disposable Scalpels, Reusable Scalpels, Surgical Blades
6) By Other Products: Needle Holders, Scissors, Speculums
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Who are the key firms paving the way for growth in the hand-held surgical instruments market?
Major companies operating in the hand-held surgical instruments market include Johnson & Johnson, B. Braun Melsungen AG, Medtronic plc, Zimmer Biomet Holdings Inc., KLS Martin Group, Aspen Surgical Products Inc., CooperSurgical Inc., Thompson Surgical Instruments Inc., Becton, Dickinson and Company, Swann-Morton Limited, Peters Surgical SAS, Huaiyin Medical Instruments Co. Ltd., ConMed Corp., Stryker Corporation, Integra LifeSciences Corporation, Smith & Nephew plc, Aesculap AG, Scanlan International Inc., Sklar Surgical Instruments, Symmetry Surgical Inc., Millennium Surgical Corp., Surgipro Inc., Teleflex Incorporated, Wexler Surgical, Grena Ltd., Surgmed Group, Surtex Instruments Ltd., Instrumed International B.V., Surgitrac Instruments UK Limited, Sontec Instruments Inc.
Which trends are expected to transform the hand-held surgical instruments market?
Leading businesses in the handheld surgical devices and equipment market are focusing their efforts on the creation of cutting-edge solutions such as knee arthroplasty handheld technology to cater to the increasing need for less invasive surgeries. This technology consists of sophisticated surgical tools specifically designed for knee replacement surgeries, allowing medical professionals to accurately and efficiently place implants. These devices come with features such as real-time imaging and ergonomic designs, enhancing precision, decreasing the time of surgeries, and promoting faster recovery. For example, in May 2024, the American medical equipment manufacturing company, Orthalign, introduced Lantern. This technology delivers accurate, personalized alignment for knee replacement procedures, tailored to each patient’s unique anatomical requirements, a crucial factor for optimal surgical results. The one-time-use design of this technology aids in maintaining sterilization and reduces the risk of cross-contamination in operating rooms. The handheld technology streamlines the workflow, ensuring easy maneuvering and perfect adaption with already existing surgical procedures. It also comes with the option for gap balancing and revision knee surgeries, stretching beyond the normal replacement surgeries. Designed to improve efficiency in Ambulatory Surgery Centers (ASCs), Lantern acts as an affordable alternative to the conventional computer-aided surgical systems and also cuts down operating room time.
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What regions are contributing significantly to the growth of the hand-held surgical instruments market?
North America was the largest region in the hand-held surgical instruments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hand-held surgical instruments market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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