Market Trends of Plastic Surgery Instruments Industry
This section covers the major market trends shaping the Plastic Surgery Instruments Market according to our research experts:
Handheld Surgical Instruments is Expected to Hold Significant Share in the Market During the Forecast Period
Handheld surgical instruments can be classified into forceps, retractors, graspers, auxiliary instruments, cutter instruments, elevators, chisels & gouges, cannulas, dissectors, and sutures & staplers.
Rising awareness about various surgical procedures, increasing the number of plastic surgeries, and technological advancement are factors driving the growth of the market over the forecast period. According to the International Society of Aesthetic Plastic Surgery report 2021, around 10,129,528 surgical procedures were performed in the world, which is likely to add to the growth of the market segment. Similarly, a 2021 report from the British Association of Aesthetic Plastic Surgeons indicates that in the year 2021, there was a total of 15,405 cosmetic procedures performed in the year 2021. The large number of cosmetic surgeries being performed is expected to add to the growth of the handheld surgical instruments segment during the forecast period.
The recent product launches by the key market players are also aiding the market growth. For instance, in July 2021, Sutter Medical Technologies launched the single-use Swyng non-stick bipolar forceps, which offer precision and versatility to surgeons. Since the forceps are disposable, they are widely preferred in plastic surgeries. Thus, the recent product launches add to the growth of the market segment.
Therefore, owing to the above-mentioned factors, the handheld surgical instruments segment is expected to grow significantly.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall plastic surgery instruments market, throughout the forecast period. The market growth is due to factors such as the presence of key players, favorable reimbursement policies, and providing access to advanced devices for plastic surgery & training sessions for physicians.
In the North American region, the United States holds the largest market share due to factors such as the increasing number of plastic surgeries and increasing awareness programs by trained and skilled dermatology professionals, and maximum reimbursement coverage in the country. According to the International Society of Aesthetic Plastic Surgery 2021 report, the United States was the country with the most number of surgical aesthetic procedures performed in the world. As per the report, in the United States, over 1,485,116 surgical aesthetic procedures were performed in the year 2020, while in Mexico, over 456,489 surgical aesthetic procedures were performed. The large number of surgeries performed in the region is a major factor contributing to the growth of the plastic surgery instruments market over the forecast period.
Also, the key market players in the region are aiding the market growth. For instance, in September 2021, Olympus Corporation launched the Powerseal family of advanced bipolar surgical energy products, the Powerseal 5mm Curved Jaw Tissue Sealer and Divider, Double-Action device. The powerseal devices provide the surgeons a state-of-the-art sealing, dissection, and grasping capabilities. Owing to the product launches in the region, the studied market is expected to grow significantly.
