Surgical Equipment Market Overview
According to Market Research Future (MRFR, the global surgical equipment market is anticipated to acquire a significant valuation at a 6.2% CAGR during the forecast period.
The global surgical equipment market is influenced positively by the rising prevalence of chronic diseases such as cardiovascular diseases, obesity, skin diseases, among others. Additionally, the increasing number of surgeries in ambulatory surgical centers and hospitals, coupled with rising geriatric population globally is also likely to impact the market over the review period. moreover, the growth of the medical device market, a growing number of surgical centers, and government initiatives have a positive impact on the market. on the other hand, the growth of the market is restricted by various factors such as the high cost of healthcare surgical devices and stringent regulatory policies from multiple governmental authorities across the globe.
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Surgical Equipment Market Segmental Analysis
The global surgical equipment market is segmented based on product type, application, and end-user.
The several types of products available in the global surgical equipment market are electrosurgical devices, electrosurgical generators, handheld instruments, monitoring devices, surgical sutures and staplers, and others. Surgical sutures and staplers segment is sub-segmented into absorbable and non-absorbable sutures. The handheld instruments segment is sub-segmented into forceps, sutures, visual scope, and others. The electrosurgical devices segment is sub-segmented into electrosurgical instruments such as electrosurgical generators, HET bipolar system, electrosurgical pencils, smoke evacuation system, and others. The applications of surgical equipment are cardiovascular surgeries, neurosurgery, orthopedic surgery, urology, wound closure, and others. On the basis of end-user, the surgical equipment market is segmented into ambulatory surgical centers, hospitals, and others.
Surgical Equipment Market Regional Analysis
Based on the region, the global surgical equipment market is segmented into the Americas, Asia Pacific, Europe, and the Middle East and Africa.
The Americas accounts for the largest market share of the global surgical equipment market over the review period. The growth of the global medical device sector, rising emphasis on quality medical care, and the accessibility of advanced surgical devices are the essential drivers for the market growth. North America accounts for the largest market share among the americas, with the U.S. and Canada being the foremost contributor to the growth of the market. In the U.S., the presence of significant market players in the medical device industry and the extensive usage of advanced surgical devices is likely to drive the market over the review period. South America also exhibits a vast scope of growth opportunities with an increase in the demand for surgical devices in the forecast period.
Europe is also considered a significant region in the global surgical equipment market and is likely to follow behind North America in terms of market share over the review period. France, Germany, and the U.K. are the major contributors to the market growth. The rising number of market players producing surgical equipment, increasing government support, and a rise in outpatient surgeries are expected to fuel the market growth in the European nations. moreover, growing healthcare expenditure by European governments is also expected to create favorable factors for market growth.
The Asia Pacific region is the fastest-growing region in the global surgical equipment market, owing to the massive demand for surgical devices and instruments, growing awareness about quality medical care in hospitals and surgical centers, and the rising prevalence of chronic diseases such as cardiovascular diseases in the region. India, china and Australia are the major contributors to the market owing to the availability of skilled medical professionals and growing healthcare expenditure by the governments of these countries over the review period.
In the Middle East and African region, the market growth of the surgical equipment market in the region is expected to be gradual over the review period and is attributed to the growing accessibility of specialty healthcare services in middle eastern developing countries such as the United Arab Emirates and Saudi Arabia. The African region is expected to exhibit a steady growth owing to the demand for primary healthcare services in the region.
Surgical Equipment Market Key Players
The key players identified by MRFR in the global surgical equipment market are B. Braun Melsungen AG (Germany), CONMED Corporation (US), COVIDIEN (US), Erbe Elektromedizin GmbH (Germany), Ethicon US, LLC. (US), Integra LifeSciences Corporation (US), KARL STORZ & Co. (US), KLS Martin (Germany), MEDICON (US), Smith & Nephew (UK), Stryker Corporation (US), and Synergetics USA, Inc. (US).
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