Surgical Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Surgical Sutures and Staples (Surgical Sutures, Surgical Staples), Handheld Surgical equipment (Forceps and Spatulas, Retractors, Dilators, Graspers), Auxiliary Instruments (Clamps, Cannulas, Closure Devices), Cutter Instruments (Trocars, Lancets, Scissors), Electrosurgical Devices)), By Application (Neurosurgery, Plastic and Reconstructive Surgeries, Wound Closure, Obstetrics and Gynaecology, Urology, Microvascular, Thoracic Surgery, Cardiovascular, Orthopaedic Surgery, Laparoscopy, Others), By End-User (Hospitals & Clinics, Ambulatory surgical centers), and Region  

Surgical Devices Market size was valued at US$ 9.38 billion in 2022 and is poised to grow at a CAGR of 9.9% from 2024 to 2030. due to the increase in the global population, and the rise in the prevalence of various chronic diseases such as cancer, diabetes etc. The rise in demand for surgical tools due to an increase in surgical procedures, an increase in healthcare expenditure, an increase in demand for plastic and reconstructive surgery, and a rise in technological development leading to product innovations are the major factors fueling the growth of the surgical devices market over the forecast period. Moreover, the favourable government policies for the manufacturing of surgical devices, and the presence of numerous risk factors, such as hypertension, smoking, obesity, and diabetes, have led to the high prevalence of cardiovasculardrugs diseases and using of robotic systems might fuel the global surgical devices market over the forecast period.

However, stringent government regulations, price competition in the industry and lack of proper reimbursement for surgical equipment may hamper the surgical devices market growth over the forecast period. Similarly, a rise in preference for advanced wound closure materials like fibrin sealants, implementation of acts like the Patient Protection and Affordable Care Act (PPACA) in the U.S., and Side effects with the products that lead to product recalls might hinder the growth of the global surgical devices market. Surgical devices refer to the medical devices used to cut, dilate, grasp, hold, and fulgurate the body tissues during surgical procedures. Some surgical devices are designed for general use in surgery, while others are designed for a specific procedure or surgery. Surgical devices are used for various surgical procedures such as reconstructive and plastic surgeries and wound closures. These are commonly used in various therapeutic areas such as urology, neurology, cardiovascular medicine, orthopaedics, obstetrics, gynaecology, etc. Over time, many different kinds of surgical instruments and tools have been invented. Due to technological advancements, majority of the surgical devices have been computerized. The surgical devices market is categorized into different tools like powered devices, mechanical cutters, graspers, retractors, distractors, tubes and suction tips,  measurement tools, specula or dilators, Tyndall and others

Key Developments

• Oct 2024: Medical device company Vivasure Medical®, advancing new fully absorbable technology for percutaneous vessel closure, announced it will reveal the findings of its U.S. In October, Lead investigators of the PATCH Study, as well as the as the elite and elite venous studies will be presenting their results at the annual Transcatheter Cardiovascular Therapeutics (TCT) conference in Washington, D.C.           
• Sept 2024: THINK Surgical, Inc. a pioneer in orthopedic surgical robotics announced that the TMINI® Miniature Robotic System has received U.S. FDA 510(k) clearance to be used with the Persona® The Personalized Knee System from Zimmer Biomet.               
• July 2024: Stryker Corp, the world's medical technology leader, announced that it has completed the acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast conserving surgery. The company's portfolio further enhances Stryker's commitment to advancing surgical solutions in breast cancer care.