Surgical Equipment Market Size, Trends and Growth Outlook By Product Type (Surgical Sutures & Staplers, Handheld Instruments, Electrosurgical Devices), by Application (Neurosurgery, Wound Closure), by End-User (Hospitals, Ambulatory Surgical Centers)
The global surgical equipment market is expected to grow at a CAGR of 6.2% during the forecast period.
The rising frequency of chronic diseases such as cardiovascular diseases, obesity, and skin disorders, as well as an increase in the number of procedures performed in ambulatory surgery centers and hospitals, are driving the global surgical equipment market. Furthermore, market expansion, an increase in the number of surgical centers, and government initiatives all have a synergistic influence on the industry. The surgical equipment market is primarily driven by the introduction of new electronic technologies such as minimally invasive surgery equipment, robotic and power aided systems.
Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/556
Increased demand for robotic aided surgery and an increase in the senior population, which is more sensitive to eye ailments, stomach disorders, intestinal disorders, and other health concerns, are two reasons driving the surgical equipment market expansion. Robotic-assisted surgery is a sort of minimally invasive surgery in which doctors employ technology to gain more control, access, and precision throughout the procedure.
However, several issues such as the high cost of surgical equipment and tight regulatory rules for various regulatory agencies are limiting the market’s growth. Inadequate quality assurance in terms of performance, incorrect sterilizing processes for reused equipment, and a lack of a positive regulatory environment in developing nations are all factors that impede market growth. During the projected period, however, R&D in the field of surgical equipment is expected to provide new opportunities.
Surgical Equipment Market Competitive Dynamics
Some of the key players in this market are
- Smith & Nephew (UK)
- Braun Melsungen AG (Germany)
- Ethicon US, LLC. (US)
- Erbe Elektromedizin GmbH (Germany)
- COVIDIEN (US)
- CONMED Corporation (US)
- MEDICON (US)
- Integra LifeSciences Corporation (US)
- Synergetics USA, Inc. (US)
- Stryker Corporation (US)
- KARL STORZ & Co. (US)
- KLS Martin (Germany)
Surgical Equipment Market Segmentation
The surgical equipment market is segmented into three categories: product type, application, and end-user.
The market is divided into surgical sutures and staplers, handheld tools, electrosurgical devices, electrosurgical generators, monitoring devices, and others based on product type. Because of the rise in the number of surgeries conducted globally and their widespread use in all types of procedures, portable surgical tools have the biggest market share. However, due to a shift in customer preferences from traditional (invasive) to minimally invasive operations, the global market for manual handheld surgical equipment is predicted to drop during the forecast period. Because of the rising demand for less invasive operations and technological advancements, the electrosurgical instruments market is the fastest expanding.
The market is divided into neurosurgery, wound closure, urology, cardiovascular procedures, orthopedic surgery, and others based on application.
The market is divided into hospitals, ambulatory surgical centers, and others based on the end-user.
Surgical Equipment Market Regional Overview
The surgical equipment market is dominated by the Americas. The market is being driven by the rise of the medical device sector, an increased focus on quality treatment, and the availability of technologically improved surgical devices. North America has the biggest market share, with the United States contributing the most to market growth. The market is driven in the United States by the presence of important players in the medical device sector and the widespread usage of surgical equipment. With an increase in the need for surgical instruments, South America also offers significant growth potential. In South America, laparoscopic procedures are performed on a massive scale, boosting the market’s growth. Canada is concentrating on exporting surgical equipment and suturing materials to countries throughout the world, which is expanding the market in this region. Furthermore, the expansion of this market will be fueled by an increase in the number of hospitals and healthcare services, as well as the availability of raw materials and better labor access.
Europe is the world’s second-largest market, owing to the rising prevalence of various diseases, particularly cardiovascular disease, in both developed and developing countries. Diabetes, hypertension, and lifestyle habits such as smoking, sedentary work, and lack of exercise have all contributed to the rise in disease prevalence. Furthermore, as the number of chronic diseases rises, so does the number of operations and healthcare organizations. The largest contributors to the market’s growth are Europe, Germany, the United Kingdom, and France. The market in European countries is being driven by a growth in the number of market players manufacturing surgical equipment, expanding government backing, and an increase in outpatient procedures.
The Asia Pacific surgical equipment market is fueled by high demand for surgical devices and tools, rising awareness of the need of quality care in hospitals and surgical facilities, and the rising prevalence of chronic conditions including cardiovascular disease. Because of its large geriatric population, China dominates the Asia Pacific surgical equipment industry. The second-largest market is India, which is followed by Japan and Australia.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/surgical-equipment-market-556
The market growth in India and China has been aided by a large population base, a quickly changing economy, an increase in the prevalence of chronic diseases, an increase in healthcare expenditure, and an increase in the number of enterprises. According to recent economic data, China and Southeast Asia are on track to join the ranks of high-growth Asian nations like Korea and Taiwan. Furthermore, due to the availability of competent and skilled medical personnel as well as rising healthcare expenditure, Australia has the fastest growing market.
The rising availability of specialist care services in countries such as the United Arab Emirates and Saudi Arabia is credited with driving market expansion throughout the Middle East and Africa. The demand for primary care services in Africa has been steadily increasing.
Browse More Related Reports at:
Light Therapy Market Research Report – Global Forecast till 2025
COVID-19 Diagnostics Market Research Report – Global Forecast till 2027
Medical Nutrition Market Research Report – Global Forecast till 2027
Multiple Sclerosis Treatment Market Research Report – Global Forecast till 2027
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
+1 628 258 0071(US)
+44 2035 002 764(UK)