With the standard of medical facilities rising, so is the market for equipment necessary for surgeries. Market Research Future (MRFR) has published a report on the global surgical equipment market that anticipates aggrandizement for this market at 6.2% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The key factor driving the global surgical equipment market growth is the increasing prevalence of chronic ailments. Other factors aiding market growth are the growth of the medical device market, the increasing number of surgical centers, and government initiatives. However, the market growth can be restrained various like the high cost of surgical devices and strict regulatory policies for various regulatory authorities.
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The global surgical equipment market has been segmented into the application, end user, product type and region. The application-based segmentation segments this market into cardiovascular surgeries, neurosurgery, orthopedic surgery, urology, wound closure, and others. Based on end users, the market has been segmented into ambulatory surgical centers, hospitals, and others.
By product type, the market has been segmented into electrosurgical devices, scalpels, surgical staplers, surgical suture, and others. Electrosurgical devices are have been sub-segmented into electrosurgical generators, electrosurgical pencils, HET bipolar system, smoke evacuation system, and others. Scalpels have been sub-segmented into forceps, retractors, scissors, and others. Surgical staplers are further segmented into absorbable and non-absorbable sutures. The surgical suture has been sub-segmented into suture devices and suture needles.
The regional segmentation of the global surgical equipment market can segment the global market into regional markets known as the Asia Pacific, The Americas (North America & South America), Europe, and the rest of the world (RoW).
The Americas holds the biggest share in the global surgical equipment market. Due to technological advancement and the availability of advanced medical facilities, North America is the bigger market over South America. In North America, the USA and Canada are the biggest country-specific markets. Apart from the availability of availability of technologically-advanced surgical devices, other factors aiding the market growth in North America are extensive use of surgical devices, the growth of the medical device sector, increasing emphasis on quality care, the presence of key players in the medical device industry. South America also the potential to grow as a market due to the presence of strong economies like Argentina and Brazil.
Europe is another important regional market. In this region, the major contribution to market growth comes from France, Germany, and the UK. Factors aiding the market growth include growing government support, increasing number of market players (who are in the business of manufacturing surgical equipment), and increase in outpatient surgeries, and increasing healthcare spending by European nations. In terms of technological advancement and with regards to the availability of advanced medical facilities, Europe is second only to North America. Other crucial country-specific markets in this region are Italy and Spain, followed by the remaining countries of Europe.
In the Asia Pacific region, the primary reason for the market growth is the huge demand for surgical devices & instruments, increasing awareness about quality medical care in hospitals and surgical centers, and the ever-increasing prevalence of chronic diseases. Among country-specific markets, Australia and India have been anticipated to witness the fastest growth in the market because in these countries, qualified and skilled medical professionals are available and healthcare expenditure is also growing in these countries. Other country-specific markets in this region are China and Japan, followed by the remaining countries of the Asia Pacific region.
In the RoW segment, countries of the Middle East & Africa (MEA) have been covered. In the MEA, the prime factor helpful in the market growth is the increasing availability of specialty care services in countries like the Saudi Arabia and UAE. Africa region has steady growth with the demand for primary care services in the region.
The key players in the global surgical equipment market include B. Braun Melsungen AG (Germany), CONMED Corporation (USA), COVIDIEN (USA), Erbe Elektromedizin GmbH (Germany), Ethicon USA, LLC. (USA), Integra LifeSciences Corporation (USA), KARL STORZ & Co. (USA), KLS Martin (Germany) MEDICON (USA), Smith & Nephew (UK), and Stryker Corporation (USA).
Latest Industry News
- Surgical services at the Georgetown Public Hospital have received a donation of medical equipment and supplies from the government of China. 28 DEC 2018
- AppOrtho is utilizing the High Country’s first robot-assisted surgery system to aid with knee replacement surgeries. 3 JAN 2019
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Detailed Table of Contents:
1 Report Prologue
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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