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Global Keel Pliers Market Size By Type (Single-Hand Type, Double-Hand Type), By Application (Online, Offline), By Region, And Segment Forecasts, 2023 to 2031
Report Id: 12002 | Published Date: Feb 2023 | No. of Pages: | Base Year for Estimate: Feb 2023 | Format:
The Global Keel Pliers Market was valued at USD 1.2 billion in 2023 and is projected to reach USD 2.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2023 to 2031. Keel pliers are essential tools in surgical applications, especially in orthopedics and veterinary procedures. The increasing prevalence of orthopedic conditions, rising healthcare infrastructure investments, and growing demand for precise surgical instruments are key factors driving market growth.
Drivers:
Rising Prevalence of Orthopedic Disorders:
An aging global population and the rise in bone-related conditions such as
osteoporosis and fractures are significantly boosting demand for keel pliers.
Advancements in Surgical Tools: The
development of lightweight, ergonomic, and highly durable keel pliers is
improving surgical precision and outcomes.
Growth in Veterinary Applications:
Increased demand for advanced surgical tools in animal healthcare is further
propelling the market.
Restraints:
High Cost of Advanced Surgical Instruments:
The premium pricing of modern keel pliers with enhanced features can limit
adoption, particularly in emerging economies.
Limited Access to Advanced Healthcare
Facilities: Inadequate infrastructure in developing regions restricts the
penetration of high-end surgical tools.
Opportunity:
Emerging Markets: The expansion of
healthcare infrastructure in regions like Asia-Pacific and Africa offers
significant growth opportunities for keel plier manufacturers.
Technological Integration: The integration
of materials like titanium and advanced alloys in keel pliers is creating
opportunities for innovation.
Market
by System Type Insights:
Based on system type, Standard Keel Pliers
accounted for the largest market share in 2023 due to their widespread use and
affordability. However, Advanced Ergonomic Keel Pliers are expected to witness
the highest growth during the forecast period, driven by their enhanced design
and functionality.
Market by End-Use Insights:
In terms of end use, Hospitals emerged as
the largest revenue contributor in 2023, attributed to the rising number of
orthopedic procedures globally. Meanwhile, the Veterinary Clinics segment is
expected to grow significantly due to increasing pet ownership and the demand
for advanced surgical tools in veterinary medicine.
Market
by Regional Insights:
Geographically, North America dominated the
keel pliers market in 2023, owing to a strong healthcare system and high
adoption of advanced surgical tools. The Asia-Pacific region is anticipated to
witness the highest growth, driven by increasing investments in healthcare
infrastructure and rising awareness of advanced surgical practices.
Competitive
Scenario:
Key players in the Global Keel Pliers
Market include Stryker Corporation, Medtronic, B. Braun Melsungen AG, Johnson
& Johnson, Zimmer Biomet, and Arthrex, Inc. Companies are investing in
technological advancements, strategic partnerships, and geographical expansion
to maintain a competitive edge.
Scope
of Work – Global Keel Pliers Market
|
Report
Metric |
Details |
|
Market Size (2023) |
USD 1.2 billion |
|
Projected Market Size (2031) |
USD 2.1 billion |
|
CAGR (2023-2031) |
6.8% |
|
Key Market Segments |
System Type, End-use, Region |
|
Growth Drivers |
Rising Orthopedic Disorders,
Technological Advancements |
|
Opportunities |
Emerging Markets, Material Innovation |
Key
Market Developments:
2023: Stryker Corporation introduced a
lightweight keel plier made with advanced titanium alloy for improved surgical
precision.
2024: Johnson & Johnson launched a new
ergonomic keel plier series tailored for minimally invasive procedures.
2025: Zimmer Biomet expanded its production
capacity in Asia-Pacific to meet the rising demand for surgical instruments.
FAQs
What is the current market size of the
Global Keel Pliers Market?
The market was valued at USD 1.2 billion in
2023.
What is the major growth driver of the
Global Keel Pliers Market?
The rising prevalence of orthopedic conditions
and advancements in surgical tools are key drivers.
Which region is expected to witness the
highest growth in the Global Keel Pliers Market?
The Asia-Pacific region is anticipated to
experience the highest growth during the forecast period.
Which segment accounted for the largest
market share in the Global Keel Pliers Market?
The Standard Keel Pliers segment held the
largest market share in 2023.
Who are the key market players in the
Global Keel Pliers Market?
Key players include Stryker Corporation,
Medtronic, Zimmer Biomet, B. Braun Melsungen AG, and Arthrex, Inc.
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