Global Surgical Power Tools Market: Steady Growth In Volume Sales In Developing Countries Projected Through 2020
Growth in the global surgical power tools market is expected to be modest through 2020, says a new report that is now featured on MarketResearchReports.biz. According to the report, titled ‘Global Surgical Power Tools Market 2016-2020,’ the market is projected to register a CAGR of 3.2% from 2016 through 2020. The chief restraint acting counter to the growth of the market is the low adoption of surgical power tools in healthcare settings in developing countries.
Moreover, in several developed countries, the hesitancy of hospitals and surgical centers to invest in brand new surgical power tools has dented revenue growth. The market has, consequently, remained concentrated in developed countries. While these markets contribute a prime share of revenue to the global surgical power tools market, a steady growth in volume sales is expected in the developing countries, the report projects.
Hand-powered drills meant for surgical use bring with them a few limitations. This has impelled the adoption of surgical power tools. These tools find a broad bouquet of applications that range from thoracic surgery to oral procedures and from orthopedic to ENT surgeries. Surgical power tools can be designed to operate on numerous different sources of energy such as batteries, electricity, or compressed gases. Medical-grade gases that are used in pneumatic devices are used in surgical power tools as well. These include compressed air, carbon dioxide, or nitrogen. The types of power tools studied in this report include saws, drills, and reamers.
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With awareness regarding HAIs reaching a new high with every passing year, the trend of using disposable medical consumables and devices is catching on. The global surgical power tools market has not been insulated from this trend. The deployment of single-use surgical power tools has gained favor among several healthcare institutions and patients, stirring up considerable demand one-time-use surgical tools. Demand is expected to pick up in developing regions with medical tourism reporting healthy growth in countries such as India, Malaysia, and Thailand. The report studies the surgical power tools market in the Americas, Asia Pacific, and the Middle East and Africa.
To estimate the size of the global surgical power tools market, the report takes into consideration sales-based revenue from surgical power tools across the world. In addition, the report also studies the global surgical power tools market as it stands currently and provides projects until 2020.
With the aim of creating a comprehensive competitive landscape of the global surgical power tools market, the report studies the following key vendors and their growth strategies: DePuy Synthes, Stryker, CONMED, Medtronic, and Zimmer Biomet. A host of other important companies that claim an appreciable share in the market’s revenues are also covered in the report.
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