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(IT-NEWSWIRE.COM, July 30, 2019 ) Increasing aging population, high prevalence of chronic disorders requiring surgical interventions, and high disposable income among consumers. Moreover, rapid technological innovation is also contributing to the growth of this market. However, market growth is restricted due to inadequate quality assurance, lack of proper sterilization practices for equipment, and high price competition among manufacturers.
The global powered surgical instruments market is estimated to be worth around USD 1.7 Billion in 2014 and is expected to reach around USD 2.2 Billion to grow at a CAGR of 4.1% during the forecast period of 2015 to 2020.
Market Dynamics
+ Drivers
+ Rapid Growth in Aging Population
+ Growing Adoption and Acceptance of Arthroscopy & Minimally Invasive Procedures
+ Technological Innovations Such as Surgical Robotics
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Over the past few years, the powered surgical instruments market has been witnessing continuous growth. Factors such as aging population, increasing volume of global surgical procedures and increasing demand for minimally invasive surgeries is fuelling market growth. The market has also witnessed transformative and innovative technological advancements, such as surgical robotics, that have positively impacted the market.
This market is primarily driven by increased healthcare spending globally, rise in the prevalence of lifestyle diseases, increased accessibility to healthcare, and medical tourism. However, inadequate quality assurance, lack of proper sterilization practices for equipment, and constant pressure on healthcare providers to reduce costs are restricting the growth of this market.
Several geographic drivers as well for the growth of the powered surgical instruments market. Asia-Pacific is gradually becoming a growth hub for this market. Factors such as the booming medical tourism industry, rising unmet healthcare needs and prevalence of chronic diseases that require surgical procedures are propelling the market growth in this region.
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Mr. Shelly Singh
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raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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