Surgical Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Surgical Devices Market: 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)), Application (Neurosurgery ,Plastic and Reconstructive Surgeries, Wound Closure, Obstetrics and Gynaecology, Urology, Microvascular, Thoracic Surgery, Cardiovascular, Orthopaedic Surgery, Laparoscopy, Others), End-User (Hospitals&Clinics, Ambulatory surgical centers) ,and Geography.

 

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Report

Description

The global surgical devices market size was valued at USD 9.38 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% from 2021 to 2027 due to increase in the global population, and rise in the prevalence of various chronic diseases such as cancer, diabetes etc. Rise in demand for surgical tools due to increase in surgical procedures, increase in healthcare expenditure, increase in demand for plastic and reconstructive surgery, and rise in technological development leading to product innovations are the major factors fuel the growth of surgical devices market over the forecast period. Moreover, the favourable government policies for the manufacturing of surgical devices, the presence of numerous risk factors, such as hypertension, smoking, obesity, and diabetes, has led to the high prevalence of cardiovascular 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 Patient Protection and Affordable Care Act (PPACA) in U.S., and Side effects with the products that lead to product recalls might hinder the growth of global surgical devices market. Surgical devices refer to the medical devices used to cutting, dilating, grasping, holding, and fulgurate the body tissues during the 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, and gynaecology, etc. Over time, many different kinds of surgical instruments and tools have been invented. Due to technological advancements majority of the surgical devices has computerized.surgical devices market categorized into different tools like powered devices, mechanical cutters, graspers, retractors, distractors, tubes and suction tips,  measurement tools, specula or dilators, tyndallers and among others

Surgical Devices Market

MARKET SUMMARY
-
9.9%
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 9.9%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Surgical Devices Market

  • The report on global surgical devices market gives historical, current and future market sizes (US$ Bn) based on product type, application, end user and geographical regions.
  • Surgical Devices Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Market Key Players
  • Medtronic
  • Stryker Corporation
  • Johnson & Johnson Services
  • NuVasive
  • Conmed Corporation
  • Smith & Nephew
  • Zimmer Inc
  • Boston Scientific Corporation
Growth

Surgical Devices Market

surgical devices market is in a flourishing stage with several local, and international players operating in the surgical devices market. Increase in the prevalence of chronic diseases such as neurological disorders (according to World Federation of Neurology statistics, 12 in every 100 patients die due to neurological disorders), and rise in the number of road accidents (according to Association for Safe International Road Travel, nearly 2.35 million people are injured every year due to road accidents) has led to the increase in the demand for surgical devices. Launching of new products is the popular strategy followed by various medical devices companies in the global surgical equipment market, which has helped the manufacturers to gain substantial market share. For instance, in October 2013, Zimmer had launched three products for minimally invasive surgery, namely Viewline Retractor System, Tube Retraction System and Posterior Instrument Set which are used in microdiscectomy procedures. Similarly, innovation of modern technologies like minimally invasive surgery instruments, and robotic and power assisted equipment are the key factors fueling the growth of surgical devices market. For instance, in 2011, Intuitive Surgical, Inc., has developed the da Vinci Surgical System provided a breakthrough platform for the robotic-assisted surgeries.


North-America Got Significant Share

Surgical Devices Market

Geographically, the surgical devices market has been segmented into following regions Viz. North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. North America dominates the surgical devices market owing to rise in a number aging population, increase in the prevalence of chronic diseases in U.S. such as cancer, neurological disorders, and diabetes etc. The innovation of novel technologies and reimbursement scenario might boost the surgical devices market in North America. However, Europe holds a significant share in surgical devices market owing to the favourable regulatory framework, change in lifestyle, and increase in disposable income among consumers. Moreover, Asia-pacificsurgical devices market is expected to substantial growth over forecasting period owing to increase in the medical tourism in Asian countries, rise in unmet healthcare needs, growing healthcare infrastructure in Asia Pacific region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Notable Market Developments

  • In August 2016, Alcon achieves U.S. approval for CyPass Micro-Stent, a micro-invasive surgical device to treat glaucoma
  • In March 2016, NuVasive, Inc. has acquired Mega Surgical, the exclusive distributor of NuVasive products in Brazil
  • In July 2015, Medtronic has acquired RF surgical systems, for developing the detection system which prevents the retained surgical sponges

Key

Report Outline

Surgical Devices Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content


Report

Company Profile

  • Medtronic (U.S.)
  • Stryker Corporation (U.S.)
  • Johnson & Johnson Services Inc., (U.S.)
  • NuVasive, Inc. (U.S.)
  • Conmed Corporation (U.S.)
  • Alcon company (a division of Novartis) (Switzerland.)
  • Smith & Nephew (U.K.)
  • Zimmer Inc. (U.S.)
  • Boston Scientific Corporation (U.S.)
  • B. Braun Melsungen AG (Germany)
  • KLS Martin Group (U.S.)
  • Integra LifeSciences Corporation (U.S.)

Description

The global surgical devices market size was valued at USD 9.38 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% from 2021 to 2027 due to increase in the global population, and rise in the prevalence of various chronic diseases such as cancer, diabetes etc. Rise in demand for surgical tools due to increase in surgical procedures, increase in healthcare expenditure, increase in demand for plastic and reconstructive surgery, and rise in technological development leading to product innovations are the major factors fuel the growth of surgical devices market over the forecast period. Moreover, the favourable government policies for the manufacturing of surgical devices, the presence of numerous risk factors, such as hypertension, smoking, obesity, and diabetes, has led to the high prevalence of cardiovascular 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 Patient Protection and Affordable Care Act (PPACA) in U.S., and Side effects with the products that lead to product recalls might hinder the growth of global surgical devices market. Surgical devices refer to the medical devices used to cutting, dilating, grasping, holding, and fulgurate the body tissues during the 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, and gynaecology, etc. Over time, many different kinds of surgical instruments and tools have been invented. Due to technological advancements majority of the surgical devices has computerized.surgical devices market categorized into different tools like powered devices, mechanical cutters, graspers, retractors, distractors, tubes and suction tips,  measurement tools, specula or dilators, tyndallers and among others

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