According to the latest report by IMARC Group, titled “Surgical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global surgical equipment market demand. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global surgical equipment marketsize reached US$ 16.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.05 Billion by 2027, exhibiting a growth rate (CAGR) of 6.70%during 2022-2027.
Surgical equipment represents devices or tools used during surgical procedures to get access to the various internal body parts and physically modify biological tissues. They mainly consist of surgical sutures and staplers, handheld tools, such as forceps, spatulas, retractors, graspers, etc., auxiliary instruments, cutter instruments, electrosurgical devices, and others. These surgical equipment are designed to help medical practitioners perform functions, which include grasping, cutting, holding, dissecting, retracting, suturing, etc., efficiently during several types of surgeries. Consequently, they find widespread applications in hospitals and ambulatory surgical centers across the globe.
The increasing incidences of numerous lifestyle and chronic diseases requiring surgery are among the key factors driving the surgical equipment market. In line with this, the expanding geriatric population across countries, which is highly susceptible to ocular, gastric, and intestinal disorders, is acting as another significant growth-inducing factor. Additionally, the escalating technological advancements in minimally invasive or MI and electronic robot-assisted surgeries are also positively influencing the global market.
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Besides this, the inflating investments in extensive research and development (R&D) activities focusing on introducing superior quality equipment that will ensure greater control, precision, and access in complex surgeries are further stimulating the market growth. Moreover, the rising number of gynecological surgeries, on account of the higher prevalence of female reproductive organ disorders and the increased rates of childbirths, and the growing hospital chains and healthcare infrastructural improvement, specifically in developing countries, owing to supportive policies by the government bodies are expected to bolster the surgical equipment market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alcon, B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Integra LifeSciences, Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Olympus Corporation, Smith & Nephew plc, Stryker Corporation and Zimmer Biomet.
The report has been segmented the market into following categories:
Breakup by Product:
- Surgical Sutures and Staplers
- Handheld Surgical Equipment
- Forceps and Spatulas
- Auxiliary Instruments
- Cutter Instruments
- Electrosurgical Devices
Breakup by Category:
- Reusable Surgical Equipment
- Disposable Surgical Equipment
Breakup by Application:
- Plastic and Reconstructive Surgery
- Wound Closure
- Obstetrics and Gynecology
Breakup by End User:
- Ambulatory Surgical Centers
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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