Hand-held Surgical Instruments Market Size, Share, Growth Analysis, By Product(Forceps, Retractors, Dilators, Graspers), By Application(Neurosurgery, Cardiovascular, Orthopedic, Plastic), By End-User(Hospitals, Clinics, Ambulatory Surgical Centers, Others), By Region - Industry Forecast 2024-2031

In terms of market share and revenue, North America now dominates the hand-held surgical instruments market. This is because chronic illnesses are becoming more common and healthcare services are becoming more inventive. About 133 million Americans suffer from chronic illnesses, accounting for more than 40% of the nation's population and being typically incurable and continuous. It is anticipated that by 2020, there would be 157 million people worldwide, 81 million of whom will have various illnesses. Around 8% of children aged 5 to 17 reported having limited activities because of at least one chronic illness or impairment, while around 50% of adults report having a chronic condition. More and more people are dealing with two or more chronic diseases, rather than just one, like diabetes, heart disease, or depression. Almost one-third of people today are dealing with several chronic illnesses.

On the other hand, Asia-Pacific is anticipated to see the greatest growth rate during the projection period due to the region's expanding elderly population, increased investment in healthcare infrastructure, and rising demand for micro surgeries. Rapid aging in Asia and the Pacific has positioned the area at the forefront of one of the most significant global demographic trends, thanks to increased life expectancies and declining birth rates. In Asia and the Pacific, one in four persons will be older than 60 by 2050. Between 2010 and 2050, the number of senior people (those over 60) in the region will quadruple, growing to around 1.3 billion. This shift will occur quickly in certain nations, like the People's Republic of China, Sri Lanka, Thailand, and Vietnam, and slowly in others, like Indonesia, but both will end up with sizable populations of elderly people.