Handheld Surgical Devices Market

The Global Handheld Surgical Devices Market Industry is experiencing a surge in technological advancements, which enhances surgical precision and efficiency. Innovations such as robotic-assisted handheld devices and advanced imaging technologies are transforming surgical procedures. For instance, the integration of augmented reality in surgical instruments allows surgeons to visualize complex anatomy in real-time, potentially reducing operation times and improving patient outcomes. As these technologies continue to evolve, they are expected to drive market growth significantly, contributing to the projected market value of 6.59 USD Billion in 2024. This trend indicates a shift towards more sophisticated surgical solutions.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. The North America handheld surgical devices market accounted for the largest market share in 2022. The North America regional market is the largest market in terms of revenue. The market is driven by the increasing prevalence of cardiovascular, cancer, neurological, and autoimmune disorders in this region. Some common surgeries in this region include circumcision, gallbladder removal, angioplasty, C-section, cataract removal, joint replacement, broken bone repair, and cardiovascular disorders.

For instance, according to a research article published in the Journal of the American Medical Association, the US had more than 13 million US surgical procedures from 2019 to 2021. Thus, such volume of surgeries promotes greater consumption of the market products.

Further, the major countries will be study are: The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: HANDHELD SURGICAL DEVICES MARKET BY REGION 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe handheld surgical devices market accounted for the second-largest market share due to the growing demand for safe surgical devices that are used in minimally invasive surgeries, rising research and development investments, and increasing geriatric population. Furthermore, the Germany handheld surgical devices market attributed to hold the largest market share, and the France handheld surgical devices market is projected be the fastest growing market in the Europe region.

The Asia-Pacific handheld surgical devices market is expected to be the fastest growing from 2023 to 2032 due to the growing population, the increasing spending power of consumers, and the high prevalence of chronic disorders. Moreover, China handheld surgical devices market accounted to hold the largest market share, and the India handheld surgical devices market is projected to be the fastest growing market in the Asia-Pacific region.

Major market players’ growth is dependent on market conditions, government support, and industry development. The Handheld Surgical Devices Market is extremely competitive, with players competing, partnering, and investing heavily in research and development to gain a significant market share. The market is moderately fragmented with rising competition, product launches, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency.

Integra Lifesciences Holdings Corporation (US) is a medical technology company. The key focus of the company is to provide patients with a high level of satisfaction. Integra LifeSciences provides and operates innovative solutions in the field of orthopedic extremity surgery, neurosurgery, and reconstructive & general surgery. Integra Life Sciences is one of the leading providers of surgical devices and instruments to various hospitals, surgery centers, physicians, and dental offices, in the US.

Moreover, In December 2022, Integra LifeSciences announced the acquisition of the Surgical Innovation Association (US). As per the agreement Integra paid USD 50 m at the closing of the deal, as well as up to USD 90 million more upon reaching some revenue as well as regulatory milestones.