(MENAFN- America News Hour) Handheld Surgical Devices Market report delivers detailed overview of the global Handheld Surgical Devices Market in terms of market segmentation by type, application, membrane material, filter design, and by region. Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Global handheld surgical devices market is expected to register a significant CAGR of 9.4% over the forecast period. Moreover, the global handheld surgical devices market is expected to reach at notable revenue by the end of 2024.
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The global handheld surgical devices market is segmented into product type such as forceps and spatulas, retractors, dilators, graspers, auxiliary devices, cutter devices and others. Increasing penetration of chronicle diseases and rapid technological advancements in handheld surgical devices are major factors which are predicted to bolster the growth of global handheld surgical devices market during the forecast period.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
The North America segment by region is likely to dominate the handheld surgical devices market during the forecast period. Increasing geriatric population and rising prevalence of diseases which require surgery are dynamic factors which are expected to foster the growth of North America handheld surgical devices market over the forecast period. Moreover, Asia Pacific handheld surgical devices market is likely to witness significant growth in market during the forecast period due to improving healthcare infrastructure and rising penetration of chronic diseases that require surgical procedures.
Major players include in the global Handheld Surgical Devices Market:
AESCULAP Moria Pelion Surgical Elite Medical Millennium Surgical Gsource LLC Medicon eG Stryker Company Sklar Integra LifeSciences Corporation
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Increasing Number of Surgical Procedures
A number of factors such as increasing geriatric population and increasing incidence of chronic diseases are fueling the demand for surgical procedures across the globe. Further, increasing incidence of surgical procedures is likely to be the dynamic factor which is expected to escalate demand for handheld surgical devices across the globe in near future.
Improving Healthcare Infrastructure
The global handheld surgical devices market is projected to witness considerable demand over the forecast period owing to a number of factors such as growing demand for handheld surgical devices for wound closure procedures and increasing adoption of technologically advanced handheld surgical instruments in healthcare sector.
Although, growing adoption of wound closure materials such as glues and fibrin sealants over handheld wound closure surgical devices is one of the major factors that are likely to inhibit the growth of the handheld surgical devices market in the near future.
The report titled
“Handheld Surgical Devices Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation”
delivers detailed overview of the global handheld surgical devices market in terms of market segmentation by product type, by application, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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