The rise in surgeries conducted globally has led to an amplified requirement for surgical equipment that can aid in carrying out surgeries effectively. The market for surgical equipment is anticipated to develop at a 6.2% CAGR in the duration of the forecast period by 2023 according to a report published by MRFR. The use of high-quality surgical instruments is essential to the success of the procedures. Thus, the market for surgical equipments is buoyed due to the demand for effective and precise instruments that will increase the success rate of the surgeries. Innovations in the design and material quality that can ensure a longer life cycle of the instruments are also found to be motivating the market growth of surgical equipments. The mounting establishment of medical facilities in diverse geographies such as emergency clinics and hospitals is increasing the expansion of the market for surgical equipments. The market is expected to gain significantly from the rising number of professionals who are certified to carry out surgical procedures as well the rising level of investment that can lead to the creation of diverse, profitable segments within the surgical equipments market.
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The notable players in the global surgical equipment market include Erbe Elektromedizin GmbH (Germany), Integra LifeSciences Corporation (US), CONMED Corporation (US), B. Braun Melsungen AG (Germany), Stryker Corporation (US), COVIDIEN (US), MEDICON (US), KLS Martin (Germany), Ethicon US, LLC. (US), Smith & Nephew (UK), Synergetics USA, Inc. (US), and KARL STORZ & Co. (US).
The global surgical equipment market has been segmented based on product type, application, and end-user.
By product type, the global surgical equipment market has been segmented into surgical sutures and staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices, and others. The surgical sutures and staplers segment has been further segmented into absorbable and non-absorbable sutures. The handheld instruments segment has been further segmented into forceps, sutures, visual scope, and others. The electrosurgical devices segment has been further segmented into electrosurgical instruments such as HET bipolar system, electrosurgical pencils, smoke evacuation system, electrosurgical generators, and others.
By application, the global surgical equipment market has been segmented into neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery, and others.
By end user, the global surgical equipment market has been segmented into hospitals, ambulatory surgical centers, and others.
By region, the global surgical equipment market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas account for the lion’s share of the global surgical equipment market. Expansion of the medical device sector, the availability of technologically advanced surgical devices and a greater focus on quality care boost the growth of the Americas market. The US is a key contributor to the North America market driven by the strong presence of major medical device manufacturers in the region and the large-scale use of surgical equipment in the region.
Europe is a significant market for surgical equipment led by the UK, France, and Germany. A growing number of surgical equipment manufacturers in the region, increase in a number of surgeries, and high government support augurs the growth of the Europe surgical equipment market. Besides, healthcare spending represents a substantial part of European countries’ budget which favors the growth of the market.
APAC market for surgical equipment are expected to expand at a relatively faster rate. Surging prevalence of chronic diseases in the region coupled with increasing sophistication of medical facilities in the region drive the market in APAC.
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