Published on : Oct 10, 2016
ALBANY, NY, Oct 10, 2016: The global surgical power tools market has been studied from three main perspectives – power source, application, and geography. An impact-based analysis model is adopted for the market forecasting. This model analyzes the impact of various micro and macro-economic factors such as reimbursement scenarios, regulatory approvals, government regulations, and product recalls. The data is then verified with industry experts over telephonic interactions or face-to-face interviews. The report provides a comprehensive competitive analysis, including the market share of key players in the surgical power tools market. The report also includes a value chain analysis, key event impact analysis, and average selling price analysis.
The increasing use of battery-driven cordless surgical power tools and the use of Li-ion batteries in surgical tools are improving the efficiency and workflow of surgeons and driving the global surgical power tools market. As per the report, since these batteries offer improved reliability, greater energy density, higher performance, and longer life cycle, the market for Li-ion batteries is projected to double in the coming years. As such, manufacturers operating in the global surgical power tools market are focusing on developing battery-powered surgical tools and expanding their surgical product portfolio. Manufacturers in the industry are also concentrating on developing tools that are light in weight, small in size, and ergonomically designed.
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According to the report, medical tourism in Asia is one of the key driving factors behind the growth of the global surgical power tools market. This is because medical tourism has led to advanced hospitals, skilled surgeons, and availability of modern medical equipment at low costs. Countries that have contributed to the growth of the surgical power tools market in Asia include India, Singapore, and Malaysia. These countries are undergoing infrastructural improvements and thus have a high demand for quality surgical power tools.
Factors that challenge the growth of the global surgical power tools market include complex designs, leading to issues relating to cleansing and sterilization. Surgical power tools such as reamers, saw, and drills have complex designs that restrict the cleaning and sterilization process. Since the repeated use of these tools can make them contaminated with residues of tissues, the risk of skin infection increases. The complications associated with contamination are posing a challenge for manufacturers in the industry.
On the basis of geography, the market is expected to be led by the Americas. The Americas accounted over 52% of the market share in 2015. Factors such as technological advancements, the speedy U.S. FDA approval for new products, and subsequent product launches are also likely to drive this market’s growth in the Americas. Key players profiled in the report are Medtronic, CONMED, Stryker, DePuy Synthes, and Zimmer Biomet.
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