Surgical Equipment Market Size Predicted To Increase At A Positive CAGR| Report By Introspective Market Research
Market Overview:
The Surgical Equipment Market Is Expected to Grow at a Significant Growth Rate, And The Analysis Period Is 2022-2028, Considering The Base Year As 2021.
Surgical equipment is a tool or device for performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue, or providing access for viewing it. Over time, many different kinds of surgical instruments and tools have been invented. Surgical equipment is comprised of items that have been developed through extensive research and development to help medical professionals perform specific procedures during surgical procedures. Hand instruments, electrosurgical devices, and closure devices are just a few examples of the numerous types of surgical equipment available. North America specifically the US is the most advanced country in the world in terms of advanced healthcare.
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- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
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Top Key Players Covered In The Surgical Equipment Market:
- Olympus Corporation (Japan)
- Braun Se (Germany)
- Erbe Elektromedizin Gmbh (Germany)
- Conmed Corporation (Us)
- Meril Life Sciences Pvt. Ltd. (India)
- Frankenman International Ltd (China)
- Boston Scientific Corporation (Us)
- Medtronic (Ireland)
- Zimmer Biomet (Us)
- Aspen Surgical (Us)
- Integra Lifesciences (Us)
- Stryker (Us)
- Medical Device Business Services, Inc. (Us)
- Fuhrmann Gmbh (Germany)
- Geister Medizintechnik Gmbh (Us)
Market Dynamics and Factors:
The aging population is on the rise. The highest market share is held by knee replacement surgeries and the rising prevalence of chronic diseases. Furthermore, an increase in road accident cases propels market growth during the forecast period. The skilled professional’s availability in the US is another major factor for driving this industry.
Because of the increasing number of childbirths worldwide and the sudden rise in the prevalence of female reproductive organ disorders, which has led to an increase in the number of gynecological surgeries, the obstetrics and gynecology segment held the second-largest revenue share in 2021.
Growing government investments in healthcare infrastructure, as well as regulations encouraging foreign direct investment (FDI) in emerging markets, are spurring the expansion of surgical equipment. Developments in surgical equipment and increased industry investment are also expected to provide growth opportunities in the near future. Medical providers are increasingly interested in purchasing cutting-edge surgical equipment.
Surgical Equipment Market Report Highlight:
- By Product, Handheld surgical instruments have the largest market, owing to the increased number of surgeries performed globally and their widespread use in all types of surgeries. Electrosurgical equipment has high demand due to the advancement of technology
- By Application, gynecology surgical equipment is highly captured the market share. It is used during surgery in the category of gynecology as most women are suffered from reproductive organ disorders and have less capability of getting pregnant. According to new research from the World Health Organization (WHO), caesarean section use continues to rise globally, now accounting for more than 1 in 5 (21%) of all childbirths.
- By end users, the surgical equipment market is expected to grow in hospitals. Hospitals have more spending power and patient traffic is up significantly and all types of surgeries are performed under the roof of hospitals by maintaining hygiene and developing advanced facilities for surgery.
- North America is dominating the market growth during the forecast period. Owing advanced medical infrastructure and the high disposable income of consumers increase the growth in plastic surgery can boost the market growth. For instance, according to the International Society of Aesthetic Plastic Surgeons (ISAPS), the United States claims the highest total number of plastic surgery procedures in the world.
Key Industry Development:
In May 2022, Surgical instrument manufacturer Surgical Holdings has launched a new company-wide green initiative to reduce both its and the NHS’s carbon footprint. This initiative includes launching a new Ethical Duty Smart Repair service, which actively promotes the repair and refurbishment of surgical instruments and other medical devices to tackle global steel wastage.
In December 2022, Medtronic plc (NYSE: MDT), announced the first patient enrolled in the Expand URO U.S. clinical trial for the Hugo
robotic-assisted surgery (RAS) system. The robotic-assisted prostatectomy procedure was performed by Dr. Michael R. Abern at Duke University Hospital in Durham, N.C.
In October 2020, MMI SpA Launched World’s Smallest Wristed Surgical Instruments- MMI SpA, announced the CE Mark, and launched, the first human use of its Symani® Surgical System in Europe for open microsurgical procedures.
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Surgical Equipment Market Segmentation:
By Product type
- Handheld Devices
- Surgical Sutures & Staplers
- Electrosurgical Devices
- Others
By Application type
- Cardiovascular
- Neurology
- Gynecology
- General Surgery
- Others
By End Users
- Hospitals
- Clinics
- Ambulatory surgical Centers
- Others
For this report, Introspective Market Research has segmented the Surgical Equipment Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
Scope of the Report:
The latest research on the Surgical Equipment market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Surgical Equipment industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Surgical Equipment market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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