Hand-held Surgical Instruments Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030

The Hand-held Surgical Instruments Market size is expected to be worth around US$ 8.51 billion by 2030, according to a new report by Vision Research Reports.

The global Hand-held Surgical Instruments market size was valued at US$ 5.82 billion in 2021 and is anticipated to grow at a CAGR of 8.1% during forecast period 2022 to 2030.

Growth Factors

The market is anticipated to be driven by rise in number of surgical procedures being performed and increase in prevalence of chronic diseases. In addition, rise in number of road and other accidents globally is contributing to high demand for these surgical instruments.

According to data revealed by the Center for Disease Control and Prevention (CDC) in 2017, 15% of the U.S. population suffers from chronic kidney disease. Hence, with rising prevalence of chronic diseases, need for surgical treatment has been increasing. This is, in turn, accelerating demand for handheld surgical instruments. As per WHO, around 10 million people are injured or disabled due to road accidents every year, which has also resulted in growing number of wound surgeries. This is expected to positively impact market growth in the long run.

Product Insights

The forceps segment held the highest market share in 2021 at 18.7% owing to its increasing usage. The rise in usage is attributable to its advantages, such as; it helps in eliminating the need for holding minute objects with hands and avoiding contamination. The others segment includes clamps, bone chisel, closure devices, dissecting knife, bone saw, curette, osteotome, elevators and rongeur.

However, the retractors segment is expected to experience maximum growth at a CAGR of 9.3% over the forecast period owing to advancements in retractors for different types of surgeries. For instance, in September 2021, a trauma surgeon invented the TITAN CSR, a unique retractor that combines both ample exposure and speed. The product does not need to be mounted on the table and can be set up in about 6 seconds without losing any functionality.   

Application Insights

The orthopedic surgery segment held the highest revenue share of 17.4% in 2021 due to factors such as; the high incidence of Musculoskeletal (MSK) ailments and increasing developments in minimally invasive surgeries. According to a research article by WHO published in July 2022, approximately 1.71 billion people have MSK conditions globally. It is the leading cause of disability worldwide, which hampers an individual’s productivity. 

The plastic surgery segment is expected to be the fastest-growing segment at a CAGR of 7.6% over the forecast period. Factors such as technological advancements in plastic surgery that have made it safer and reduced the recovery time as well as the cost of the procedure have led to the growing popularity of plastic surgeries. Individuals are now not reluctant to undergo plastic surgery with fear as they would be before. Moreover, growing disposable income and the rising influence of social media are factors that are further driving the growth of this segment over the forecast period. For instance, according to the American Academy of Facial Plastic and Reconstructive Surgery, an estimated 1.4 million surgical and non-surgical procedures were performed in 2020. This indicated a 40 percent increase even though most countries were hit by the COVID-19 pandemic.  

End-use Insights

The hospitals segment held for highest revenue share in 2021 at 51.6% owing to a large number of cases and preventive surgeries being performed in these settings. In addition, the availability of all types of surgical instruments and skilled professionals is expected to fuel the segment growth. The rising number of admissions due to the increasing number of chronic disorders is also expected to propel the segment growth over the forecast period. With the increase in the number of procedures, such as angioplasty and kidney & liver transplants, and incidence of trauma, the demand for surgical equipment has significantly increased in hospitals.  

The ambulatory surgical centers segment is expected to gain maximum growth over the forecast period. This is due to the growing popularity of aesthetic or cosmetic surgeries being carried out in ambulatory surgical centers. Moreover, it offers advantages like reduced cost by curtailing the overall patient stay post-procedure. Thus, making it a perfect option for individuals that do not need prolonged hospital stays, thereby fueling the market demand. 

The clinics segment is also expected to experience significant growth over the forecast period due to the number of dental and orthopedic specialty clinics across the globe. Global rise in the prevalence of melanoma and skin cancer has led to a latent increase in the number of patients visiting dermatology clinics for treatment and care. Moreover, sprains, osteoporosis, cartilage tears, fractures, strains, osteoarthritis, and ankle arthritis are usually treated at orthopedic clinics as they offer expert advice and skill with respect to orthopedics. As orthopedic clinics cater to the needs of patients and provide customized services, they are preferred over hospitals that usually cater to a wide range of disorders and diseases.

Regional Insights

North America dominated the global hand-held surgical instrument market with an overall market share of 41.0% in 2021. The increasing prevalence of neurological, cardiovascular, cancer, and autoimmune disorders is the key factor driving the market growth in this region. Some of the common surgeries performed in North America include circumcision, C-section, cataract removal, joint replacement, gallbladder removal, angioplasty, broken bone repair, and cardiovascular disorders. According to a research article published in the Journal of the American Medical Association, the U.S. had more than 13 million U.S. surgical procedures from the start of 2019 to Jan 30th, 2021.

Europe is expected to capture the second position owing to the increasing demand for safe surgical instruments that are used in minimally invasive surgeries. Growing demand for less time-consuming and cost-effective medical solutions are also expected to augment the demand for hand-held surgical instruments, thereby driving the market. According to WHO, the European region has the highest burden of non-communicable diseases and is expected to grow at a high rate in the near future.

The Asia Pacific is expected to witness lucrative growth owing to the growing population, high prevalence of chronic disorders, and increasing spending power of consumers. In addition, growing medical tourism in developing economies due to the lower cost of procedures as compared to other developed countries is driving the growth of the market in the Asia Pacific region. According to the Malaysia Healthcare Travel Council, a coronary artery bypass graft that would cost $92,000 in the United States costs less than $10,000 in India.

Key Players

Zimmer Biomet Holdings; B. Braun Melsungen AG; Becton, Dickinson and Company; Integra LifeSciences Corporation; Smith & Nephew; Medtronic; CooperSurgical Inc.; Johnson & Johnson; Thompson Surgical Instruments Inc.; and Aspen Surgical.

Market Segmentation

• Product Outlook 

  • Forceps

  • Retractors

  • Dilators

  • Graspers

  • Scalpels

  • Others 

• Application Outlook 

  • Neurosurgery

  • Cardiovascular

  • Orthopedic

  • Plastic & Reconstructive Surgery

  • Obstetrics & Gynecology

  • Others

• End-use Outlook 

  • Hospitals

  • Clinics

  • Ambulatory Surgical Centers

  • Others 

• Regional Outlook 

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

The Hand-held Surgical Instruments market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Hand-held Surgical Instruments market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Hand-held Surgical Instruments market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hand-held Surgical Instruments market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hand-held Surgical Instruments market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Hand-held Surgical Instruments capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Hand-held Surgical Instruments by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hand-held Surgical Instruments market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hand-held Surgical Instruments market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hand-held Surgical Instruments market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Hand-held Surgical Instruments industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Hand-held Surgical Instruments market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hand-held Surgical Instruments market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hand-held Surgical Instruments market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hand-held Surgical Instruments market. These factors have benefited the growth of the global market for Hand-held Surgical Instruments. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hand-held Surgical Instruments. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Hand-held Surgical Instruments are as follows:

• Historic Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.