PUBLISHER: Grand View Research | PRODUCT CODE: 1631136
PUBLISHER: Grand View Research | PRODUCT CODE: 1631136
The global hand-held surgical instruments market size is expected to reach USD 8.8 billion by 2030, registering a CAGR of 7.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic diseases, such as; cancer, chronic heart, neurological, orthopedic disorders is the leading factor driving the demand for hand-held surgical instruments market. According to the American Cancer Society, more than 16.9 million Americans with a history of invasive cancer were alive in January 2019.
The increasing geriatric population that is more susceptible to developing these disorders is another factor that is expected to propel market growth over the forecast period. According to the U.S. Census Bureau, there were more than 54 million adults aged 65 and older that lived in the U.S. in 2020. Increasing preference for plastic & reconstructive surgeries is another major factor driving the market growth. Increasing disposable income and the booming medical tourism sector in developing countries is also expected to boost the growth of the hand-held surgical instruments market.
The COVID-19 pandemic led to a significant downfall in overall sales of the hand-held surgical instruments market. Increasing focus on COVID-19-infected patients and postponement of elective surgeries resulted in a reduced number of surgeries being performed, which affected the market negatively. However, due to huge backlog and rise in efforts by the surgeons and healthcare facilities to generate higher revenue and fill in the demand & supply gap has helped the market to recover to great extent. Furthermore, the market represents lucrative opportunities with the world finally being able to combat and recover from the pandemic.