Global Surgical Equipment Market

Surgical Equipment Market: Insights

Surgical Equipment is used as a tool or device during a medical procedure. The invention of new and advanced technology, the growing adoption of minimally invasive surgery, use of the robotic-assisted system are the primary drivers of the surgical equipment market. The rising market for medical imaging equipment and diagnostics testing will also lead to high market demand. Also,with the rising population, the demand for various surgeries is growing rapidly which in turn affecting the market demand for surgical equipment.

Surgical Equipment Market: By Type

There are four main segments the market is divided into, according to the type,surgical sutures and staplers, handheld surgical equipment, electrosurgical devices, and other surgical equipment. The handheld surgical equipmentcurrently holds the largest share of the market mainly because of the increasing number of surgeries and the frequent use of all the surgical equipment. However, the market share of this segment is expected to decline with time as the customer preferences are changing from traditional surgeries to minimally invasive surgeries. During the forecasting period, the electrosurgical devices are estimated to showcase robust growth. As consumers are preferring to have minimally invasive surgeries with the use of advanced and recent technology the demand for electrosurgical devices is growing rapidly.

Surgical Equipment Market: By Category

Based on the category, the surgical equipment can be divided into two main segments, disposable surgical equipment, and reusable surgical equipment. The advancements and the recent emergence of the pandemic arecausing the demand for disposable surgical equipment to grow rapidly. Solely, the increasing adaptation of plastic and reconstructive surgeries, orthopedic and laparoscopic surgeries, wound closing surgeries is increasing the demand for disposable surgical equipment.                                                       

Surgical Equipment Market: By Application

Based on the application, the market is segmented into several components such as neurosurgery, thoracic surgery,plastic and reconstructive surgeries, cardiovascular surgery, orthopedic surgery,microvascular,laparoscopy, ophthalmic application, veterinary application, dental application, and others. Out of all the components, the obstetricians and gynecology segment is estimated to dominate the market with having the largest marketshare. The expected reasons are mainly the increasing number of child birds and the increasing number of female reproductive organ problems, which have led to the number of gynecologic surgeries performed to grow rapidly. However, plastic and reconstructive surgeries are expected to face the fastest growth with the highest CAGR. With the increasing use and easyavailability of modern and recent technology,consumers are demanding cosmetic surgeries and other plastic surgeries especially in the APAC countries like India China, and Australia, which leads to greater demand.

Surgical Equipment Market: By Region

Globally in 2020, the North American region accounted for the largest revenue because of the high expenditure in the healthcare sector during the pandemic. However, the Asia-Pacific region is observed to witness the highest growth rate in this market. Because of the ongoing pandemic, many surgery centers where the surgeries were either postponed or canceled for a time being, in the coming period, it would be possible to start an unprecedented demand for surgeries that will emerge in the countries of this region. Facts like increasing numbers of chronic disorders, increasing cases of orthopedic problems coupled withthe availability of skilled surgeons, and the growing research and development and invention of advanced and better technology are leading this market to grow at a greater rate in the APAC region.

Surgical Equipment Market: Share & Competitor Analysis

B. Braun Melsungen Ag, Boston Scientific Corporation, Conmed Corporation, Cousin-Biotech, Entrhal Medical GMBH, Fuhrmann GMBH, Integra Life Sciences Holdings Corporation, Johnson & Johnson, KLS Martin Group, Medtronic PLC, Novartis International AG, Peters Surgical Sasu, Smith & Nephew PLCare the majorvendors competing in the surgical equipment market.

Please note: This is not an exhaustive list of companies profiled in the report.

In September 2019,the company Medtronic PLC introduced its new surgery system assisted by robotsnamed‘Hugo RAS’.

In November 2020, to strengthen its research and development capability and distribution network Aspen Surgical paired up with Protek Medical Products, Inc.