Handheld Surgical Devices Market Highlights

Handheld Surgical Devices Market Size was estimated to be worth USD 12.93 billion in 2022. The market for handheld surgical devices is projected to rise from USD 13.85 billion in 2023 to USD 29.83 billion in 2032, with a compound annual growth rate (CAGR) of 10.12% over the forecast period (2023-2032).

Increasing number of surgical procedures is the key factor driving the handheld surgical devices market. According to the Australian Institute of Health and Welfare, there were 10.6 million hospitalisations, and 1 in 4 hospitalisations involved a surgical procedure.

Various other factors such as increasing incidence of accidents, high geriatric population, technological advancements, increasing demand for plastic reconstructive surgery, and rising patient awareness regarding the benefits of handheld surgical devices are also expected to propel the growth of the market.

However, lack of skilled or trained physicians and strict government regulations can hinder the market growth over the forecast period.

Segmentation

The Global handheld surgical devices market is segmented based on application, product, end user and region.

The Global market for handheld surgical devices, by application is segmented into neurology, urology, orthopedics, gynecology, cardiovascular, wound closure, and others.

The market, by product, is segmented into forceps and spatulas, retractors, dilators, graspers, auxiliary devices, cutter devices, and others. The auxiliary devices segment is further classified as clamps, cannulas, and closure devices. The cutter devices segment is further classified as trocars, lancets, and scissor. The others segment includes punches, curettes, blunt dissectors, and snares.

Based on end user, the market is segmented into hospitals, clinics, ambulatory surgical centres, research and academic institutes, and others. Clinics held a lucrative market share due to rising prevalence of chronic conditions.

Regional Analysis

The Americas dominated the global market for handheld surgical devices owing to the increasing prevalence of chronic conditions, and high geriatric population.

Europe stood second in the global handheld surgical devices market. This can be attributed to the increasing cases of surgical procedures, and rising research and development investments.

Asia Pacific was projected to be the fastest growing region. Factors such as growing healthcare sector, increasing penetration of the market players within the region, increasing healthcare expenditure, a rising number of surgical procedures drive the regional markets of the Asia Pacific region. On the other hand, the Middle East and Africa held least share in the global handheld surgical devices market due to the low per capita income, especially within the African region.

Key Players

Some of the key handheld surgical devices market players are B. Braun Melsungen AG, Integra LifeSciences Corporation, Zimmer Biomet Holdings, Pelion Surgical, Medtronic, Smith Nephew, Johnson Johnson, Millennium Surgical Corp, Medicon Eg, Elite Medical, Becton, Dickinson and Company (BD), Thompson Surgical, Stryker, Aspen Surgical, KLS Martin, CooperSurgical Inc., and others.

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