In terms of revenue, the Global Surgical Equipments Market is expected to reach USD 28.30 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 9.1% from 2023 to 2030.
An instrument or tool used during surgical procedures to obtain access to the body's interior organs and physically alter biological tissues is referred to as Surgical Equipments. The most frequent forms of Surgical Equipments are hand instruments, auxiliary instruments, electrosurgical devices, and closure devices. These tools are made to execute tasks like holding, gripping, cutting, dissecting, retracting, or suturing. Surgical instruments are frequently made of carbon steel, titanium, aluminum, and stainless steel. Before surgery, they are cleaned and sterilized and come in various sizes. While specific surgical tools are made expressly to treat certain diseases, the bulk of surgical instruments are made to be utilized throughout all types of surgeries. Therefore, these devices are widely used in a wide range of procedures, including caesarean deliveries, stomach surgery, neurological, cardiovascular, orthopaedic, and aesthetic surgeries. The market is primarily driven by factors including an ageing population, an increase in the frequency of lifestyle disorders that eventually require surgery, rising healthcare expenditures, and significant unmet surgical needs. Together with these factors, the market is anticipated to develop throughout the forecast period due to growing technological advancements in minimally invasive operations, shorter hospital stays following surgery, and an increase in ambulatory surgical facilities.
Key Highlights from the Report
· Based on the Products, the Surgical Sutures & Staplers market segment is anticipated to dominate the Surgical Equipments market with the most significant market revenue in the future. The segmental expansion is anticipated to be influenced by factors such as the growing use of sutures and staplers in wound closure operations, paired with quick healing after use.
· Based on the Applications, the Obstetrics & Gynecology market segment accounted for the maximum CAGR in the forecast period owing to the increase in the number of childbirths.
· Based on the Region segment, North America held the most significant market share and is likely to be the most gainful market during the forecast period due to the availability of an advanced healthcare system.
The Surgical Equipments market is steadily expanding with the growing preference for minimally invasive procedures. Furthermore, the increased frequency of chronic illness and accident cases has fuelled market growth. Recent advances in minimally invasive procedures are evidence of significant Surgical Equipments advancements that have contributed to market growth. Surgeons have been able to deliver greater precision in complex procedures. These are some of the advancements that propel the market's growth.
Furthermore, the increasing number of surgeries benefits the Surgical Equipments industry. Surgeries, particularly general surgery, which includes procedures on the oesophagus, appendix, stomach, large intestine, small intestine, liver, gallbladder, pancreas, and bile ducts, have overgrown in recent years. Additionally, a significant factor in the market's expansion was the increasing prevalence of chronic diseases globally. The demand for sophisticated surgical tools for more precise treatment has also increased as thyroid conditions become more prevalent globally. This should be advantageous for the surgical tools market.
The expanding need for power tools will drive the demand for surgical instruments; the market for surgical power instruments benefits from the rise in interest in minimally invasive procedures. The use of battery-driven cordless surgical power instruments is growing due to their benefits. Vendors are concentrating more and more on using lithium-ion batteries in medical devices. The effectiveness of doctors' workflow is anticipated to increase as a result. High energy density, a lengthy lifecycle, enhanced reliability, and performance standards are all features of these batteries. Additionally, there has been a rise in the demand for cordless surgery instruments.
On the other hand, the market's development rate will be hampered by the high price of Surgical Equipments and the low adoption rate in emerging and underdeveloped nations.
North America Surgical Equipments market is expected to witness a significant development with a significant growth rate over the analysis period. The market in the area is expanding as a result of factors including high healthcare costs, the presence of reputable hospitals, and significant players operating in the U.S. Furthermore, it is anticipated that for the forecast period, technical advancements and increasing demand for minimally invasive surgeries will propel the regional market. The United States has retained a sizable portion of the market in North America. This is brought on by an ageing population, a huge patient base, and an increase in the variety of surgical procedures, as Surgical Equipments is frequently used in abdominal, gynaecological, cardiothoracic, orthopaedic, and other operations. The industry is also expanding due to the rising number of regional product launches.
The Global Surgical Equipments Market is Segmented as follows
- Surgical Sutures & Staplers
- Handheld Surgical Equipment
- Electrosurgical Devices
- Other Surgical Equipment
- Reusable Surgical Equipment
- Disposable Surgical Equipment
- Plastic & Reconstructive Surgeries
- Wound Closure
- Obstetrics & Gynecology
- Thoracic Surgery
- Orthopedic Surgery
- Ophthalmic Applications
- Veterinary Applications
- Dental Applications
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Surgical Equipments Market is
B. Braun SE (Germany), Boston Scientific Corporation (U.S.), CONMED Corporation (U.S.), Entrhal Medical GmbH (Germany), Fuhrmann GmbH (Germany), Smith & Nephew (U.K.), Zimmer Biomet (U.S.), Stryker (U.S.), Alcon Vision LLC (U.S.), Aspen Surgical (U.S.), Medtronic (Ireland), Ethicon Inc. (U.S.), BD (U.S.), KLS Martin Group (U.S.), MEDICON eG (Germany), KARL STORZ (Germany), Olympus Corporation (Japan), Erbe Elektromedizin GmbH (Germany), Integra LifeSciences (U.S.), Getinge AB (Sweden)
The Global Surgical Equipments Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|