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According to the findings of a study by the University of California, Irwin Medical Center, hip and knee replacement surgeries are on the rise owing to incrementing percentage of geriatrics and the mounting obesity rates in the US. Furthermore, the institute estimates that by 2030, the total number of knee replacements performed in the US will escalate by a whopping 600% as compared to that in 2005.
Subsequently, there will be an upsurge in demand for the instruments needed for those surgeries, which will significantly stroke the prospects in the global surgical instruments market, which had a value of $10.2 billion to $11.5 in 2019. Furthermore, opportunities in the surgical instruments market will be mounting at healthy CAGR of 6% to 6.5% during the forecast period of 2020 to 2025.