SEATTLE, May 17, 2021, (MEDGADGET) — Surgical equipment is used to carry out surgical procedures. Electrosurgical devices, hand instruments, and closure devices are examples of this equipment. During electrosurgical procedures such as tissue ablation, disposables and accessories are used. Single-use electrodes, electrode probes, electrode loops, and blades are among them.
The global surgical equipment market is estimated to account for US$ 13,802.4 Mn in terms of value by the end of 2027.
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Drivers:
The global surgical equipment market size is expected to expand due to an increase in the incidence of chronic disorders. According to the American Cancer Society, there will be 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States in 2019.
Furthermore, an increase in the number of accidents is further expected to foster market growth. India, for example, had 467,044 road accidents in 2018, according to the National Informatics Center.
Statistics:
North America held a dominant position in the global surgical equipment market in 2019, accounting for 31.0% share in terms of value, followed by Europe and the Asia Pacific, respectively
Restraints:
The contamination of surgical instruments is expected to restrict the market growth. Due to lapses in sterilization procedures, surgical instruments are susceptible to bacterial infection. Surgical site infections may result from such contamination.
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Opportunities:
Improvement of cutting edge representation items for a medical procedure is relied upon to offer worthwhile development openings for major parts in the worldwide careful hardware market. For example, in May 2020, Ocutrx Vision Technologies, LLC, an engineer of enlarged expanded reality glasses for surgeries declared to disclose Ocutrx OR-Bot Surgery Visualization Theater at the yearly gathering of the American Society of Cataract and Refractive Surgery to be held basically May 16 and 17.
Additionally, expanding financing for emergency clinic administrations is also expected to encourage the development of the market. For example, as per the Australian Institute of Health and Welfare’s Hospitals initially, 2017–18 report refreshed in August 2019, subsidizing for clinic administrations expanded between 2016-2017 and 2017-2018 by 1.8% each year on normal in open medical clinics and by 2.9% each year on normal in private emergency clinics in Australia.
Market Trends/Key Takeaways:
Surgical equipment management is becoming easier thanks to the introduction of automated solutions. Cardinal Health, for example, announced a supply chain automation solution for operating rooms in November 2018, which allows hospitals to streamline their operating room procedures, minimize costs, and increase productivity by using real-time inventory.
In the industry, digital surgery is a new trend. Players in the market are concentrating on providing training in digital surgery. For example, Johnson and Johnson announced in February 2020 that from March 4th to April 27th, 2020, it would provide training to healthcare professionals on its Brainlab portfolio and DePuy Synthes Spine platforms in 19 cities across the United States.
Competitive Landscape:
Key players operating in the global surgical equipment market include Ethicon, Inc. (Johnson & Johnson), Covidien Plc,(Medtronic Plc.), B. Braun Melsungen AG, Medicon EG, Erbe Elektromedizin GmbH, Conmed Corporation, Carefusion, and Cardinal Health.
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Key Developments:
To extend their product portfolio, key market players are focusing on merger &acquasition strategies. Medtronic plc, for example, acquired Digital Surgery, a privately held provider of surgical artificial intelligence, data and analytics, and digital education and training solutions, in February 2020.
Key market players are also concentrating on launching new products in order to extend their product portfolio. For example, Ethicon, Inc. launched VISTASEAL Fibrin Sealant (Human) in December 2019 to aid surgeons in managing bleeding during surgery.
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