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Heavy power surgical tools, also referred to as heavy duty surgical tools are widely used during orthopedic surgeries to help relive traumatic pain. market is experiencing upward trajectory growth, presenting opportunities for medical device manufacturers worldwide. Despite the ongoing slowdown industry has witnessed owing to Great Recession, market is expected to create good market opportunities to players driven by increased healthcare spending and increasing number of orthopedic cases worldwide. Heavy duty surgical tools are used. Though the market was valued over US$ 14 Bn in 2015 the industry is highly consolidated with presence across developed regions. As such, companies are focused towards inorganic growth to capitalize on the market. With an expected CAGR of 4.6% between 2016 and 2025, the potential for market innovation and development is vast.
Despite the slowdown in the industry over the past two years, the industry is expected to grow at a significant rate. The impetus for growth in heavy power surgical tools is driven by product innovation and increasing consumer demand especially in developing regions. Asia Pacific alone accounts for over 65% of overall consumer base. Moreover, there has been a significant increase in healthcare spending along with FDI influx in medical devices in developing regions. This is expected to cut down operating cost and create a favorable market for leading players to capitalize the developing markets. Other factors including geriatrics population and favorable regulatory framework are also expected to drive the market.
On the basis of therapeutic application, the heavy power surgical tools market is segmented into:
• Orthopedic Surgeries
• Dental Surgeries
• ENT Surgeries
Orthopedic surgery therapeutic application is expected to lead the market throughout the forecast period. According to American Academy of Orthopedic Surgeons, over 6.6 million orthopedic surgeries were conducted in North America. Expected increase in number of surgeries along with increased growth of medical tourism in the region is expected to create lucrative market opportunities for the players.
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Table of Contents
Top players in the market
Key players in the market are focused on expanding the customer base to enhance their market share. For instance, in March 2019, Smart Medical Devices, Inc.’s SMARTdrill 6.0, a surgical drill that curtails drill and screw plunge and accurately measures depth, torque and energy in real time, was listed with the U.S. FDA and was made available in the U.S. for orthopedic surgical applications.
Major market players are also focused on product launch to expand their product portfolio. For instance, in August 2019, Portescap released a novel portfolio of standard prototype motors for surgical applications such as powered staplers, large and small bone orthopedic tools, arthroscopic shavers, ENT microdebriders, and high speed neuro drill applications.
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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