According to the report “Global General Surgical Devices Market,” published by Market Data Forecast, the global market is projected to reach USD 12.24 billion by 2021 from USD 7.53 billion in 2016, at a CAGR of 10.20%.
The day to day health care activities highly depend on medical instruments. Health facilities ranging from rural health clinic to large specialized hospitals are in need of medical instruments from a simple scissors to a more complex and advanced medical devices. Yet, most of them lack knowledge about medical instruments that are appropriate for their need. This is particularly true in developing countries where health care technology assessments are rare.
Procurement agencies and health facilities are required to prepare appropriate technical specifications and descriptions of medical instruments or equipment whenever they conduct tenders or prepare purchase orders. In order to accomplish this task effectively, knowledge of the type, nature and specific characteristics of the instruments/equipment is essential.
The factors influencing the Global Market for General Surgical Devices Market, either positively or negatively are presented in the DROC analysis. The rapid growth in general surgical devices market is primarily driven by the factors such as rising demand due to rising number of surgical procedures with rising prevalence & incidence of various chronic diseases accompanied by increasing ageing population. Moreover, increasing healthcare expenditure, increasing demand for technologically advanced minimal invasive surgical procedures and rising demand for plastic and reconstructive surgery are further expected to boost to the market growth during the forecast period. However, price competition in the industry is one of the factors holding back the growth. Stringent government regulations and lack of proper reimbursement for surgical equipment may also hamper the market growth during the forecast period.
For granular level understanding, the General Surgical Devices Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segments.
- By Type
- Suction Tubes
- Needle Holders
- Tendon Strippers
- By Technology
- Electrosurgical Equipment
- Wireless Surgical Equipment
- Manual Surgical Equipment
- By End-Users
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Electrosurgical devices segments is expected to register the fastest growth during the forecast period owing to the rising demand for these devices among growing number of minimal invasive surgical procedures. The growth in North America and Europe was driven by advent of new technologies, favorable regulatory framework, growing ageing population, and high disposable income of consumer population. However, Asia-pacific is expected to experience significant growth due to advancing medical tourism industry, increasing willingness to undergo surgical procedures, increase in prevalence of chronic diseases that require surgical procedures and improving healthcare infrastructure.
- North America General Surgical Devices Market
- Europe General Surgical Devices Market
- Asia-Pacific General Surgical Devices Market
- Latin America General Surgical Devices Market
- Middle East and Africa General Surgical Devices Market
The key players in this market include Medtronic Plc., Stryker Corporation, Johnsons And Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG, KLS Martin Group, Olympus Corporation, Applied Medical Resources Corporation, Microline Surgicals, Inc., Karl Storz GmbH & Co. Kg, Cook Medical Incorporated, and Teleflex Incorporated.
The General Surgical Devices Market study offers the following deliverables, providing insights on the geographical areas in which this industry is blooming
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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