The Medical Ultrasonic Cutter Market Size was valued at USD 1.70 Bn in 2023 and is predicted to reach USD 2.72 Bn by 2031 at a 6.2% CAGR during the forecast period for 2024-2031.
A medical ultrasonic cutter is a clinical instrument for accurately cutting tissue by high-frequency sound waves. Factors such as the increasing number of long-term illnesses, technological advancements, and the need for less invasive technology propel the medical ultrasonic cutter market growth in the coming years. The rising demand for medical ultrasonic cutter technology is being driven by a rising tide of knowledge among healthcare professionals on its numerous benefits. Medical ultrasonic cutters are becoming more popular due to the growing demand for less invasive surgical procedures that require less downtime for patients. New developments in medical ultrasonic cutter technology have increased their attractiveness for intricate surgical operations by making them more precise and efficient. Rising healthcare technology investments and supportive government policies also bode well for future market expansion.
However, the market growth is hampered by the high cost of medical ultrasonic cutters, which can be hindered by a lack of knowledge, manufacturing technical hurdles, and strict regulations. Furthermore, the medical ultrasonic cutter market saw a surge in demand during the COVID-19 pandemic, mainly due to the greater need for critical care and diagnostics. However, it wreaked disaster on production timelines and supply chains, slowing market growth. In addition, the demand for medical ultrasonic cutters is propelled by the expanding surgical sectors, increased healthcare expenditure, and an ever-increasing emphasis on health promotion and disease prevention.
Competitive Landscape
Some of the Major Key Players in the Medical Ultrasonic Cutter Market are
- Johnson & Johnson
- Söring GmbH
- Bowa Medical
- Olympus
- Misonix
- Integra LifeSciences
- Medtronic
- Stryker
- SonicMed
- BBT Medical
- SONIMAT
- HONDA ELECTRONICS
- Hangzhou Rex Medical Instrument
- AXON Medical Solutions
- Others Market Playrs
Market Segmentation:
The global medical ultrasonic cutter market is segmented based on type and application. Based on type, the market is divided into contact and non-contact. By application, it is divided into public and private hospitals.
Based on the Type, the Contact Segment is Accounted as a Major Contributor to the Medical Ultrasonic Cutter Market
The contact segment is expected to hold a significant global market share in 2023. This is because many surgical procedures benefit from its precision and low tissue injury rate. Contact medical ultrasonic cutters are favored because they can improve surgical efficiency and patient outcomes by providing controlled cutting and coagulation concurrently. They are also in high demand because of their adaptability in difficult operations like neurosurgery and orthopedic surgeries.
Private Hospital Segment to Witness Growth at a Rapid Rate
The private hospital segment in the medical ultrasonic cutter market is growing due to more funding for cutting-edge healthcare tech that improves patient care and health outcomes. To entice patients looking for top-notch care, these facilities are frequently the first to use revolutionary medical ultrasonic cutters. Furthermore, medical ultrasonic cutter precision tools are in high demand because private hospitals prioritize minimally invasive operations.
In the Region, the North American Medical Ultrasonic Cutter Market Holds a Significant Revenue Share
The North American global medical ultrasonic cutter market is anticipated to register the highest market share in revenue in the near future. This is because of the abundant supply of qualified medical personnel, the widespread use of cutting-edge surgical tools, substantial medical research and development funding, and well-developed healthcare infrastructure. In addition, the Asia Pacific is anticipated to increase in the global medical ultrasonic cutter market because healthcare spending is on the rise, more and more people are travelling for medical treatment, and hospitals are using cutting-edge technology to enhance surgical results, which is growing the demand of the Asia-Pacific region.
Recent Developments:
- In July 2024, Shockwave Medical, Inc. and Johnson & Johnson announced that they had reached a final agreement. Johnson & Johnson will purchase all of Shockwave’s shares for $335.00 each, for a total acquisition amounting to around $13.1 billion. The boards of directors of both corporations approved the deal.
- In April 2024, Boawa Medical Lotus ultrasonic shears can now be bought with 360-degree turning as well. People are still using the patented torsional ultrasound technology because it sends the energy into the instrument's jaw quickly and safely. Allowing the instrument tip to spin indefinitely makes the tools much easier to use, especially during laparoscopic procedures.
Medical Ultrasonic Cutter Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.70 Bn |
|
Revenue Forecast In 2031 |
USD 2.72 Bn |
|
Growth Rate CAGR |
CAGR of 6.2% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Application and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Johnson & Johnson, Söring GmbH, Bowa Medical, Olympus, Misonix, Integra LifeSciences, Medtronic, Stryker, SonicMed, BBT Medical, SONIMAT, HONDA ELECTRONICS, Hangzhou Rex Medical Instrument, AXON Medical Solutions |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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