New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Handheld Surgical Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277200/?utm_source=GNW
The global handheld surgical devices and equipment market will grow from $6.07 billion in 2022 to $6.59 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The handheld surgical devices and equipment market is expected to grow to $8.18 billion in 2027 at a CAGR of 5.6%.
The handheld surgical devices and equipment market consists of sales of spatulas, dilators, graspers, auxiliary instruments, cutter instruments, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hand-held surgical devices and equipment are nonpowered, hand-held, or hand-manipulated devices such as scalpels, forceps, retractors, intended to be used in various general surgical procedures.
North America was the largest region in handheld surgical devices market in 2022.Western Europe was the second-largest region in handheld surgical devices market.
The regions covered in the handheld surgical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main products of handheld surgical devices are scalpels, forceps, retractors, dilators, graspers, and others. The forceps are handheld instruments used for holding objects The various applications involved are neurosurgery, cardiovascular, orthopedic, plastic and reconstructive surgery, obstetrics and gynecology, and others that are used by various end-users such as hospitals, specialized clinics, long-term care centres, ambulatory surgery centres, and others.
Increasing demand for aesthetic surgeries drives the handheld surgical devices and equipment market.The demand for aesthetic surgeries can be attributed to an increase in per capita disposable income.
According to the ASPS data 2021, more than 15.5 million cosmetics procedures were performed in 2020 alone. Rhinoplasty (a nose job) was the top cosmetic surgery in 2020, with more than 352,000 surgeries performed.
The competitive pricing among manufacturers will restrain the handheld surgical devices market. An increasing number of local manufacturers are offering handheld surgical instruments at lower prices compared to major global manufacturers, as a result, companies are competing heavily on price and often need high sales volumes to be profitable.
The use of handheld devices and equipment in minimally invasive surgeries is increasing.The low cost of handheld instruments compared to robotic systems is the major factor for the increasing use of these devices in most surgical settings.
Technical advancements in handheld surgical instruments are increasingly adopted by surgeons due to the improvement in the ease of use of these instruments.
Medical devices are classified as Class I, Class II, and Class III devices by FDA based on their risks and the regulatory controls necessary to provide a reasonable assurance of safety and effectiveness.Hand-held surgical devices are nonpowered, hand-held, or hand-manipulated devices such as scalpels, forceps, retractors, intended to be used in various general surgical procedures.
Hand-held surgical devices are categorized as Class I medical devices.Class I devices generally have the lowest risk to the patient and/or user.
These devices are exempted from the premarket notification procedures 510(k).
In October 2022, Aspen Surgical Products, a portfolio company of US-based Audax Private Equity, acquired Symmetry Surgical for an undisclosed amount.The acquisition would augment Aspen’s portfolio with additional brands and diversify its portfolio.
Symmetry Surgical is a US-based manufacturer of surgical instrumentation.
The countries covered in the handheld surgical devices market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The handheld surgical devices market research report is one of a series of new reports that provides handheld surgical devices market statistics, including handheld surgical devices industry global market size, regional shares, competitors with a handheld surgical devices market share, detailed handheld surgical devices market segments, market trends and opportunities, and any further data you may need to thrive in the handheld surgical devices industry. This handheld surgical devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06277200/?utm_source=GNW
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