The rising number of surgeries, along with technological advancements, are the major factors influencing the market growth.
Global Market Size – USD 15.99 billion in 2019
Global Market Growth – CAGR of 7.1%
Global Market Trends –Rise in demand for plastic or reconstructive surgeries
It is projected that the market size for surgical devices will hit USD 28.40 billion by 2027. This can be primarily attributed to the rising number of surgical procedures and technical developments in surgery that are projected to become the most prevalent growth drivers globally in the coming years.
Key participants of Surgical Devices Market include Stryker, Johnson & Johnson Services, Inc., Medtronic, Becton, CONMED Corporation, 3M, Integra LifeSciences, Dickinson and Company, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Smith & Nephew, Boston Scientific Corporation, and Zimmer Holdings Inc., among others.
To Get Sample Copy of Report visit @ https://www.reportsanddata.com/sample-enquiry-form/1360
The market growth is driven by factors, such as the rising number of surgical procedures that have led to a growing demand for surgical instruments with increasing prevalence and incidence of many chronic diseases and a rise in the ageing population. In order to further fuel market growth during the forecast period, the growing demand for plastic and reconstructive surgery, increasing healthcare spending, accelerating the need for technologically advanced and minimally invasive surgical procedures are expected. During the forecast period, stringent government regulations and a lack of adequate reimbursement for surgical devices could hinder market development.
For the purpose of this study, the Global Surgical Devices Market is segmented on the basis of device type, product, application, and region:
Device Type Outlook (Revenue, USD Million; 2017-2027)
- Disposable Surgical Device
- Reusable Surgical Device
- Medical robotics & computer-assisted devices
Product Outlook (Revenue, USD Million; 2017-2027)
- Surgical Sutures and Staples
- Auxiliary Instruments
- Energy-based & Powered Instruments
Application Outlook (Revenue, USD Million; 2017-2027)
- Orthopedic Surgery
- Wound Closure
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
To get a Discount on the Surgical Devices Market Report, Click @ https://www.reportsanddata.com/discount-enquiry-form/1360
North America accounted for the largest market share of 31.3% in the year 2019, owing to the involvement of major players, favorable reimbursement policies, a growing number of surgical procedures and many steps taken by the government to provide access to advanced equipment for general surgery & training sessions for doctors.
Further key findings from the report suggest
- A surgical device is an instrument or equipment designed for a surgery or procedure for performing specific acts or taking out desired results. The rising penchant for minimally invasive surgeries such as electrosurgery contributes to consumer demand.
- Due to the increasing demand for plastic and reconstructive surgery and also the growing number of aged patients worldwide, the global market for surgical devices is growing at a rapid rate.
- During the forecast period, the reusable surgical device segment is projected to rise at the highest rate of 7.2%.
- Reusable surgical devices are commonly used by surgeons around the world to reduce overhead costs, particularly by surgeons working in an ambulatory surgical center (ASC) or in small medical settings. The primary factor for the growth of this segment is the presence of specific diagnostic and therapeutic medical technologies that enable fast and precise diagnosis.
- During the forecast period, the use of laparoscopes is expected to rise at the highest rate of about 7.4%. The factors leading to its growth include aesthetic advantages for patients, minimally invasive surgery, and an increase in laparoscopic surgery insurance coverage.
- The availability of advanced systems, coupled with the involvement of seasoned employees, is also some of the variables that are expected to provide this segment with lucrative opportunities. This segment is expected to dominate the market in the coming years because of the increasing preference for disposable devices such as syringes, needles, and catheters.
- At a 7.1% CAGR during the forecast period, the disposable surgical device industry is expected to cross USD 10.75 billion by 2027.
- Innovative product creation and collaborative innovations are some of the main strategic measures that players in this sector have taken to fortify their place in the competition.
- APAC region is projected to grow during the forecast period at the highest rate of around 7.4%. The growth is due to the growing population and the evolving healthcare network that is expected to stimulate the market in the future.
Browse the comprehensive TOC and data tables @ https://www.reportsanddata.com/report-detail/surgical-devices-market
Insights into our Other Healthcare Reports:
Facial Erythema Therapeutics Market Size, Trends & Analysis By Drug Type (Antibiotics, Antifungal, Antihistamines, Corticosteroids), By Mode of Administration (Topical and Oral), By Region, Forecast to 2027
Acromegaly Therapeutic Market Share, Growth & Analysis, By Product (Somatostatin analogs, GHRA), By End-User (Hospitals, Clinics), By Region, Forecast To 2027
Corporate Wellness MarketAnalysis By Service (Health Risk Assessment, Smoking Cessation, Fitness, Stress Management, Others), By Category (Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers), By End-User (Small-Scale Organizations, Medium-Scale Organizations, Large-Scale Organizations), By Delivery Model (Offsite, Onsite), By Region, Forecast To 2027
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Head of Business Development
40 Wall St. 28th floor New York City
NY 10005 United States
Direct Line: +1-212-710-1370