The North America Hand-held Surgical Instruments Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
Minimally invasive surgical (MIS) procedures are in great demand across all medical disciplines. Some benefits include reduced post-operative complications, an accurate incision, no post-operative side effects, little blood loss, a quicker recovery, and a shorter hospital stay. The market is anticipated to grow as demand for these treatments rises. Among the many hand-held surgical tools available, retractors, scissors, and forceps are utilized in various surgical operations. These surgical instruments are typically crafted from premium stainless steel and come in various forms, sizes, and patterns appropriate for multiple surgical procedures.
Heart diseases are becoming more common than other chronic illnesses due to inactivity, obesity, smoking, poor diet, or genetic predisposition. Diabetes, hypertension, and hyperlipidemia are additional cardiovascular problem risk factors. As a result, the need for portable surgical equipment is anticipated to expand as the elderly population grows. Additionally, a high impact driving factor contributing to the rise in demand for hand-held surgical equipment is the rise in traffic accidents.
The market is growing due to the increase in chronic illnesses such as cancer, diabetes, autoimmune disorders, cardiovascular diseases, neurological diseases, and cancer. In Canada, the incidence of chronic diseases such as cancer, musculoskeletal, neurological, and cardiovascular ailments have also been growing, which has significantly benefited the sector. A rise in burn injuries, trauma cases, and procedures are a few additional crucial factors propelling the market growth in the country. The WHO estimates that non-communicable illnesses, including diabetes, cancer, chronic respiratory conditions, and cardiovascular diseases, account for approximately 88% of deaths in Canada. Therefore, these factors are expected to increase demand for hand-held surgical tools, which will drive market development in the region.
The US market dominated the North America Hand-held Surgical Instruments Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,202.7 million by 2030. The Canada market is poised to grow at a CAGR of 7.8% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 6.9% during (2023 - 2030).
Based on Application, the market is segmented into Orthopedic Surgery, Urology & Gynecology Surgery, Cardiology, Wound Care, Plastic Surgery, Ophthalmology, Neurosurgery, Audiology, Thoracic Surgery, and Others. Based on End-use, the market is segmented into Hospitals, Clinics, and Ambulatory Surgical Centers & Others. Based on Product, the market is segmented into Forceps, Dilators & Trocars, Graspers, Cannulas & Dermatome, Scalpels, Retractors, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Hand-held Surgical Instruments Market is Projected to reach USD 8.9 Billion by 2030, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, B. Braun Melsungen AG, Becton, Dickinson and Company, Medtronic PLC, Integra LifeSciences Holdings Corporation, Johnson & Johnson (Johnson & Johnson Services, Inc.), CooperSurgical, Inc. (The Cooper Companies, Inc.), Thompson Surgical Instruments Inc. and Aspen Surgical Products, Inc.
By Application
By End-use
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