Rapid Growth Projected for Handheld Surgical Devices and Equipment Market Driven by Aesthetic Surgery Demand

LONDON, GREATER LONDON, UK, January 19, 2024 /EINPresswire.com/ -- The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.

The handheld surgical devices and equipment market has displayed robust growth, surging from $6.8 billion in 2023 to an estimated $7.36 billion in 2024, marking an impressive compound annual growth rate (CAGR) of 8.2%. Projections suggest sustained strength, with the market anticipated to reach $9.66 billion by 2028, reflecting a notable CAGR of 7.0%. This trajectory is propelled by various factors shaping thehandheld surgical devices and equipment industry landscape.

Surge in Aesthetic Surgeries Boosts Market:
A significant driver for the handheld surgical devices and equipment market is the escalating demand for aesthetic surgeries. The surge in per capita disposable income has fueled an increased interest in aesthetic procedures. In 2022 alone, approximately 1.5 million cosmetic procedures were performed, with liposuction emerging as the top cosmetic surgery, witnessing a remarkable 325,669 surgeries.

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Rising Prevalence of Chronic Disorders Fuels Market Growth:
The handheld surgical devices and equipment marketis further propelled by the increasing prevalence of chronic disorders or non-communicable diseases (NCDs). These conditions necessitate minimally invasive procedures, driving the demand for handheld surgical devices. The World Health Organization reports a substantial global burden of 41 million deaths annually due to NCDs, emphasizing the critical role of handheld surgical devices in enhancing patient outcomes.

FDA Classification and Market Dynamics:
Handheld surgical devices fall under FDA's Class I medical devices, characterized by low risk to patients and users. These devices, including scalpels, forceps, and retractors, are exempted from premarket notification procedures (510(k)). The market dynamics are shaped by major industry players like B. Braun Melsungen AG, Medtronic PLC, Smith & Nephew, Johnson & Johnson Services Inc., and others.

Innovations Reshaping the Market:
Innovations are reshaping the handheld surgical devices market, with companies introducing smart surgical tools for enhanced precision and safety. An example is OrthAlign Inc.'s smart surgical tool, Lantern, designed for knee replacement surgery. This technology streamlines surgical workflows, reduces operating room times, and expands applications to include total hip arthroplasty and soft tissue balancing assessments.

Regional Dominance and Market Segmentation:
North America emerged as the largest region in the global handheld surgical devices market in 2023, with Western Europe following closely.

The handheld surgical devices and equipment market covered in this report is segmented –
1) By Product: Scalpels, Forceps, Retractor, Dilators, Graspers, Other Products
2) By Application, Neurosurgery, Cardiovascular, Orthopedic, Plastic & Reconstructive Surgery, Obstetrics & Gynecology, Other Applications
3) By End-User: Hospitals, Specialized Clinics, Long-Term Care Centers, Ambulatory Surgery Centers, Other End Users

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Handheld Surgical Devices And Equipment Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

TheHandheld Surgical Devices And Equipment Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on handheld surgical devices and equipment market size, handheld surgical devices and equipment market drivers and trends, handheld surgical devices and equipment market major players, handheld surgical devices and equipment marketcompetitors' revenues, handheld surgical devices and equipment marketpositioning, and handheld surgical devices and equipment marketgrowth across geographies.The handheld surgical devices and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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