What Has Been the Growth of the Handheld Surgical Devices And Equipment Market So Far?
The handheld surgical devices and equipment market has seen considerable growth due to a variety of factors.
• The market for handheld surgical devices and equipment has seen substantial growth in recent times. The projected increase is from $8.76 billion in 2024, escalating to $9.76 billion in 2025, showcasing a compound annual growth rate (CAGR) of 11.4%.
The surge in growth during the historic period can be tied to the aging population, minimally invasive surgery (MIS), healthcare infrastructure improvements, and regulatory compliance.
How Will the Handheld Surgical Devices And Equipment Market?
The handheld surgical devices and equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for handheld surgical devices and equipment is projected to witness substantial growth in the coming years, reaching $13.79 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 9.0%.
Growth within the predicted period may be due to innovations such as telemedicine and remote surgery, the development of emerging markets, robotics and automation, and personalized medicine. Primary trends anticipated within this period encompass miniaturization and portability, smart and interconnected devices, sustainable and environmentally friendly materials, along with augmented reality (AR) and virtual reality (VR).
Which Factors Are Boosting Growth In The Handheld Surgical Devices And Equipment Market?
The rise in demand for aesthetic surgical procedures propels the market for handheld surgical tools and equipment. The growing interest in aesthetic surgeries is due to an uptick in individual disposable incomes. The ASPS data 2022 reveals that approximately 1.5 million cosmetic surgeries were executed in this year alone. Liposuction was the most preferred cosmetic surgery in 2022, observing a whopping 325,669 procedures conducted.
What Key Areas Define The Segmentation Of The Global Handheld Surgical Devices And Equipment Market?
The handheld surgical devices and equipment market covered in this report is segmented –
1) By Product: Scalpels, Forceps, Retractor, Dilators, Graspers, Other Products
2) By Application, Neurosurgery, Cardiovascular, Orthopedic, Plastic And Reconstructive Surgery, Obstetrics And Gynecology, Other Applications
3) By End-User: Hospitals, Specialized Clinics, Long-Term Care Centers, Ambulatory Surgery Centers, Other End Users
Subsegments:
1) By Scalpels: Disposable Scalpels, Reusable Scalpels
2) By Forceps: Hemostatic Forceps, Tissue Forceps, Surgical Forceps
3) By Retractors: Handheld Retractors, Self-Retaining Retractors
4) By Dilators: Urethral Dilators, Cervical Dilators, Esophageal Dilators
5) By Graspers: Laparoscopic Graspers, Endoscopic Graspers
6) By Other Products: Surgical Hooks, Scissors, Clamps, Spatulas, Needle Holders
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What Trends Are Reshaping The Future Of The Handheld Surgical Devices And Equipment Market?
The FDA categorizes medical devices into Class I, Class II, and Class III based on the risk they present and the necessary regulatory measures needed to ensure their safety and efficacy. Surgical instruments that are manually operated, such as scalpels, forceps, and retractors, are considered hand-held surgical devices. These devices fall under the Class I category of medical devices. Class I devices typically carry the least risk to the patient and the user. These type of devices are relieved from the prior market notification process, also known as 510(k).
Who Are the Key Players In The Handheld Surgical Devices And Equipment Market?
Major companies operating in the handheld surgical devices and equipment market include:
• B. Braun Melsungen AG
• Medtronic plc
• Smith & Nephew
• Johnson & Johnson Services Inc.
• Integra LifeSciences Corporation
• Zimmer Biomet
• CooperSurgical Inc.
• Becton Dickinson and Company
• Moria
• Pelion Surgical
• Elite Medical
• Millennium Surgical
• Gsource LLC
• Medicon eG
• Sklar Corporation
• Ethicon US LLC.
• Erbe Elektromedizin GmbH
• CONMED Corporation
• Synergetics USA Inc.
• Stryker Corporation
• Karl Storz SE & Co. KG
• KLS Martin
• Grena Ltd.
• Maxer Endoscopy GmbH
• GPC Medical Ltd.
• Teleflex Incorporated
• Cook Medical LLC
• Richard Wolf GmbH
• Microline Surgical Inc.
• Applied Medical Resources Corporation
• Olympus Corporation
• Boston Scientific Corporation
• Wexler Surgical Inc.
• Surgmed Group
What Is The Most Dominant Region In The Handheld Surgical Devices And Equipment Market?
North America was the largest region in the global handheld surgical devices market in 2023. Western Europe was the second-largest region in the global handheld surgical devices market. The regions covered in the handheld surgical devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
