The report on the Global Surgical Equipment Market provides at the close goings-on and shakeups caused by COVID-19 pandemic. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the market and offers suggestions objectively based on conditions of the market. The customized versions of the market report contain strategies according to region and country as per the request of the user.
Surgical Equipment Market Overview
The global surgical equipment market is growing profusely over the recent years, witnessing a spurting rise in myriads of surgeries taking place worldwide. The rising numbers of orthopedic, spinal, and dental procedures is a major driving force. Besides, the upsurge in chronic diseases and the numbers of geriatric population is boosting the growth of the market.
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Also, increasing technological advances are accelerating the market growth enabling surgical equipment to acquire distinctive features. Moreover, factors such as the increasing numbers of healthcare facilities & surgical centers and dramatical growth in the medical device market escalate the market on a global platform.
According to Market Research Future (MRFR), the global surgical equipment market valuation is expected to appreciate at 6.2% CAGR during the review period (2018-2023). Digitization is another significant growth driver for the sales of surgical equipment that have skyrocketed further. High awareness of healthcare and rising disposable income contribute to market growth.
Increasing government initiatives have a synergistic effect on the market. Additionally, factors such as technological advancement, an increasing number of ambulatory services, and government initiatives are impacting the market growth positively. Also, the growing demand for effective and advanced procedure devices and equipment is anticipated to boost the surgical equipment market size. On the other hand, high cost and stringent regulatory policies impede the growth of the market.
Surgical Equipment Market Major Players:
Players leading the surgical equipment market include
- B. Braun Melsungen AG (Germany)
- Smith & Nephew (UK)
- Ethicon US, LLC. (US)
- COVIDIEN (US)
- Erbe Elektromedizin GmbH (Germany)
- CONMED Corporation (US)
- Integra LifeSciences Corporation (US)
- MEDICON (US)
- Synergetics USA, Inc. (US)
- KARL STORZ & Co. (US)
- Stryker Corporation (US)
- KLS Martin (Germany)
Surgical Equipment Market – Segments
The report is segmented by four key dynamic variables to widen the scope of understanding.
By Product Type: Surgical Sutures & Staplers, Handheld Instruments, Electrosurgical Devices & Generators, Monitoring Devices, and others.
By Application: Neurosurgery, Wound Closure, Urology, Cardiovascular Surgeries, Orthopedic Surgery, and others.
By End-User: Hospitals & Clinics, Ambulatory Surgical Centers, and others.
By Regions: Europe, Americas, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Surgical Equipment Market – Regional Analysis
North America dominates the global surgical equipment market. The market is predominantly driven by the rising numbers of orthopedic surgeries and increasing awareness about dental hygiene that leads to an increase in dental procedures & surgeries. Also, factors such as the growth of the medical device sector, increasing emphasis on quality care, and the availability of technologically-advanced surgical devices act as major tailwinds for the market growth.
The US, with the presence of key players in the medical device industry and extensive use of surgical devices, holds the largest surgical equipment market share in the region. Besides, developments of advanced surgical approaches and treatment procedures are positively impacting the surgical equipment market growth.
Europe stands second in the global surgical equipment market. The market growth majorly attributes to the increasing government support for R&D required for the development of surgical devices and equipment. Moreover, an increase in the number of spinal, orthopedic, and dental surgeries acts as a major driving force behind the regional market growth. Furthermore, the geographical expansion of companies that has been expanding the reach of pharmaceutical products & services is propelling the European surgical equipment market size.
The Asia Pacific surgical equipment market is growing rapidly, mainly due to the developments in the medical sector in India and China. Also, factors such as the vast population, rapidly changing economy, increasing healthcare expenditure, and the increasing number of medical device & equipment manufacturing companies drive the regional market growth. India and Australia demonstrate the fastest growth in the market owing to the availability of qualified & skilled medical professionals and growing healthcare expenditure.
Global Surgical Equipment Market – Competitive Analysis
Fiercely competitive, the surgical equipment market appears to be fragmented due to the presence of several well-established players. To gain a significant share of this market, global surgical equipment market companies initiate strategies such as mergers & acquisitions, collaboration, and innovations. For business expansion, they acquire small yet promising companies in the emerging markets, focusing on optimized situational awareness for customers. Such strategic acquisitions increase the profit of the company as well as reduced the market competition significantly. Also, they increasingly invest in R&D activities to develop a cost-effective product portfolio.
Surgical Equipment Industry/ Innovation/ Related News:
February 19, 2020 —- Agiliti, Inc. (the US), a leading provider of healthcare technology management and service solutions, announced the acquisition of America’s third-largest provider of surgical equipment repair services to the healthcare industry – Mobile Instrument Service & Repair, Inc. The combination expands and extends Agiliti’s clinical equipment service offering. Also, the exciting new addition builds on Agiliti’s proven, customer-centric model for outsourced clinical engineering services.
April 02, 2020 — Align Technology, Inc. (the US), announced the acquisition of exocad Global Holdings GmbH (the US), a company specializing in dental CAD/CAM software. Align Technology designs and manufactures the Invisalign® system, advanced clear aligner system, and iTero® intraoral scanners & services. exocad, on the other hand, offers fully integrated workflows to dental labs and dental practices. The acquisition broadens Align’s digital platform reach by addressing restorative needs on a digital platform.
Table Of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
…Continued
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