Market Scope
The rising number of surgeries is the primary driver of the market. According to the Eurostat report of 2016, close to 1,040.8 cases of cataract surgery and nearly 406 cases of transluminal coronary angioplasty were recorded. The increasing number of diseases has warranted surgical instruments to increase the chances of success. Sterilization solutions designed to ensure the elimination of microbials and other harmful microorganisms can protect doctors and citizens from infections.
The global handheld surgical devices market is poised to display a CAGR of 6.8% over the forecast period.
Other prominent drivers of the global handheld surgical devices market include a steady demand for cosmetic surgeries, large number of accidents, high patient awareness levels, and technological advancements. As per the World Health Organization (WHO), close to 10 million are injured due to road accidents annually. This can positively impact market growth.
Regional Analysis
Geographically, the global handheld surgical devices market covers the Americas, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).
The Americas can lead the global market due to the requirement of diagnosis of chronic conditions and a large susceptible geriatric populace. According to the data of Center for Disease Control & Prevention (CDC), close to 28.1 million were diagnosed with heart disease in the U.S. Large number of cosmetic surgeries in the region owing to emphasis on external appearances can.
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Europe, on the other hand, is the second largest region due to rise in research and development investments and large number of surgical procedures. According to the WHO, the numbers of chronic diseases in the region can rise at a rapid rate sparking the need for handheld devices.
Competition Outlook
Stryker, Zimmer Biomet Holdings, B. Braun Melsungen AG, Aspen Surgical, Pelion Surgical, Medtronic, Integra LifeSciences Corporation, Medicon Eg, CooperSurgical Inc., Millennium Surgical Corp, Johnson & Johnson, Smith & Nephew, Becton, Dickinson and Company (BD), Thompson Surgical, KLS Martin, and Elite Medical are major players of the global handheld surgical devices market.
Segmentation
The global handheld surgical devices market is segmented by application, product, and end-user.
Major market applications include cardiovascular, wound closure, neurology, orthopedics, urology, gynecology, and others.
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Products include auxiliary devices, forceps and spatulas, dilators, graspers, cutter devices, retractors, and others. Auxiliary devices are further segmented into closure devices, clamps, and cannulas. Similarly, cutter devices comprise scissor, trocars, and lancets. Lastly, ‘others’ segment includes snares, punches, blunt dissectors, and curettes.
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