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Description
Global Surgical Equipment Market
The global surgical equipment market is expected to be valued at US$ 9,783.8 million in market and growing at a CAGR of 7.0 % over the forecast period by 2026. The major variables which act as drivers include rising prevalence & incidence of various chronic diseases and increasing ageing population which cause a demand in surgery and equipment to cut, coagulate, desiccate, and fulgurate the body tissues during the surgical procedures. There are few restrains which hung the global surgical equipment market, Stringent government regulations and lack of proper reimbursement for surgical equipment. A numerous opportunity is opened up reconstructive surgery and rising demand for technologically advanced minimal invasive surgical procedure
Increase in Number of Road Accidents
It is noticed that the global surgical equipment market has a significant market growth rate on perspective of road accidents. According to the latest data from the Centers for Disease Control and Prevention, around 51 million inpatient surgical procedures were performed in the United States in 2010, followed closely by outpatient surgeries. Other surgical statistics for both in and outpatient procedures include: Hysterectomy: 498,000. Major of the road accident cases lead surgery, demand for single-handed surgical suturing devices is growing in the healthcare landscape. Which spontaneously boost the global surgical equipment market such devices are contribution is estimated US$ 14.8 Bn by the end of 2030.
North America Dominates the Market Share in the Global Surgical Equipment Market
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year. Key variable is the availability of skilled surgeons and technologically advanced surgical tools in the U.S., growing with encouraging reimbursement policies, approving regulatory framework, growth in geriatric population, and introduction of modern and innovative technologies. Europe dominate with the help of advanced healthcare system. Asia-Pacific is the fastest growing region in the global surgical equipment market, huge pool of patients, and increasing government support in the region
Competition Assessment
Key player’s profiles in the global surgical equipment market include:
- Becton, Dickinson and Company
- Stryker Corporation
- Braun Melsungen AG
- Zimmer Biomet Holdings, Inc
- Aspen Surgical Products, Inc.
- Smith & Nephew plc
- Medtronic
- Alcon Laboratories, Inc.
- Ethicon, Inc
Key Developments:
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In July 2020, Dutch MedTech signed an agreement with Demcon of Enschede, the (medical) technology and device designer for the development of Switch, a precision surgical suturing system for abdominal wall closure (single patient use), suitable for enabling the ‘small bites’ technique.
Global Surgical Equipment Market Report Description:
Global surgical equipment market report gives comprehensive outlook on surgical equipment market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global surgical equipment market gives historical, current, and future market sizes on the basis of product, category, application, and region. This report studies global surgical equipment market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global surgical equipment market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global surgical equipment market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global surgical equipment market.
Key Findings of the Report:
- Global surgical equipment market expanding at significant CAGR over 2020 to 2026 owing due to increasing number of road accidents
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation
By Product
- Surgical Sutures & Staples
- Handheld Surgical Equipment
- Electrosurgical Devices
By Category
- Reusable Surgical Equipment
- Disposable Surgical Equipment
Application
- Neurosurgery
- Plastic & Reconstructive Surgeries
- Wound Closure
- Urology
- Obstetrics & Gynecology
- Thoracic Surgery
- Microvascular Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Laparoscopy,
- Others
By Geography:
North America
- USA
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
Location
GEOGRAPHY
