The Global Surgical Equipment Market accounted for $9.8 Billion in 2016 and is expected to attain $15.7 Billion by 2023, registering a CAGR of 7.0% during the forecast period, 2017-2023.Geographically, the surgical equipment market is studies across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the surgical equipment market in 2016, accounting for three-sevenths of the total market.
The growth of the global surgical equipment market is driven by the increasing number of surgical procedures worldwide, surge in aging population, rise in chronic diseases, and the growing demand for minimally invasive surgeries. Additionally, technological advancements and substantial growth in developing countries provide lucrative opportunities for new market players. However, high price competition and unfavorable taxation policy restrict market growth.
The report segments the global surgical equipment market by product, category, application, and geography. Based on product, the market is categorized into surgical sutures & staples, handheld surgical equipment, and electrosurgical devices. The surgical sutures & staplers segment dominated the market in 2016, accounting for two-fifths of the global share. However, the handheld surgical equipment is poised to grow at the highest rate during the forecast period, owing to their increased demand in cardiovascular, microvascular, and laparoscopic surgeries. Based on category, the report bifurcates the market into reusable and disposable surgical equipment. The reusable surgical equipment segment dominated the global market in 2016 and is expected to maintain this trend throughout the forecast period.
Get Sample Report @ https://www.alliedmarketresearch.com/request-sample/68
Based on application, the market is fragmented into neurosurgery, plastic & reconstructive surgeries, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular surgery, cardiovascular surgery, orthopedic surgery, laparoscopy, and others. Accounting for one-fifth of the total market, the laparoscopy surgery segment held the largest market share in 2016. However, plastic & reconstructive surgery segment is projected to grow at the fastest pace from 2017 to 2023, owing to rise in number of aesthetic/cosmetic surgical procedures across the globe. Regionally, North America dominated the surgical equipment market in 2016, owing to the well-established healthcare system in North America, high adoption of innovative minimal invasive & laparoscopic surgical procedures, rise in prevalence of chronic diseases & related surgical procedures, and surge in demand for plastic & reconstructive & bariatric surgeries. Meanwhile, Asia-Pacific is expected to undergo robust growth in the near future due to a surge in demand for improved healthcare services.
The report also profiles key players involved in the global surgical equipment market, such as Medtronic Plc., Stryker Corporation, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG and KLS Martin Group, Johnson & Johnson, and Smith & Nephew. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
Send Enquiry on this report @ https://www.alliedmarketresearch.com/purchase-enquiry/68
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060