LOS ANGELES, Aug. 20, 2019 (GLOBE NEWSWIRE/KOREA IT TIMES) -- The global plastic surgery instruments market is estimated to grow at CAGR above 8.5 % over the forecast time frame 2019 to 2026 and reach the market value around US$ 1.7 billion by 2026.
An increasing amount of operations and technological developments are expected to fuel the industry. In addition, increased knowledge of plastic and reconstructive operations and an improved cost-effectiveness of the associated healthcare facilities will help to grow over the forecast period.
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Several main participants are investing in research and development to introduce creative goods. Increased availability revenues, improved living standards, elevated social media impacts, and knowledge among individuals are some of the variables that boost the amount of operations. Plastic and reconstructive operations are carried out primarily to recover the function of the tissue and enhance the image of the body induced by trauma and burns.
10 million individuals are wounded or disabled every year, according to WHO, as a result of road accidents, resulting in comprehensive injury surgeries. The amount of plastic surgeries is anticipated to boost. Also, the number of breast increase procedures has risen by 4.3%, from 313,735 in 2018 to 300,378 in 2017. Women with implants must also receive extra operations because of problems like leakage, scars or implant shifts. High price of implants and increasing demand are pushing demand for breast surgical instruments, pushing the general industry. Moreover, the amount of plastic and cosmetic surgeries has risen as health care expenditures in emerging economies increase to increase esthetic attraction and thus to drive development.
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Between 2018 and 2026 North America is expected to account for the world market's biggest share. Strong focus on esthetics that will boost demand for cosmetic processes and boost the existence of many plastic engineers in the United States is expected to boost demand in the nation on plastic surgery tools. In 2017, 629.476 breast processes were conducted in the United States, according to ISAPS. The growth of the geriatric population and the growth in face-to-face cosmetic operations in Germany are anticipated to boost European demand for plastic operating tools. The main variables promoting the plastic surgery tools industry in Asia Pacific are increasing the knowledge of esthetic processes, fast acceptance of modern lifestyles and increasing geriatric population in emerging nations, like India and China. In the near future, the number of face and head procedures carried out in Japan is expected to increase the market in the region. Due to the big amount of Brazilian and Mexican cosmetic operations, Latin America is probable to offer profitable business possibilities in the next few years.
Because of favorable reimbursement policies, the presence of key local market players and government initiatives, North America was the largest share.
The highest growth rate of over 12 per cent are estimated in Asian countries due to growing technological progress, increased investment, improved reimbursement scenarios and increased medical tourism.
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Handheld surgical instruments dominated in 2018, with a share of over 70% due to their easy availability and use in invasive and minimally invasive operations.
Key Players & Strategies
Key players in the market are Blink Medical Ltd.; Bolton Surgical Ltd.; Zimmer Biomet holdings, Inc.; B. Braun Melsungen AG; Integra Life Sciences; Sklar Surgical Instruments; TEKNO-MEDICAL Optik-Chirurge GmbH; BMT Medizintechnik GmbH; Karlz Storz; and Anthony Product, Inc. and other.
Market actors take strategic measures such as product development, geographical extension, launching, mergers and purchases owing to important market share possibilities in emerging nations. For example, Zimmer Biomet Holdings, Inc. was first established in March 2019 to achieve a510(k) approval for the robotically aided minimally invasive and complicated spine operations ROSA ONE Spine System, which enhanced the company's wide range.
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