The global surgical equipment market will be driven by a growing elderly population, as well as an increase in cases of chronic diseases during the forecast period 2021-2026
Expert Market Research’s new report titled “Global Surgical Equipment Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global surgical equipment market assessing the market based on product, category, application and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $34.9 billion
- Forecast CAGR (2021-2026): 5.7%
- Forecasted market size (2026): 49.8 billion USD
The surgical equipment market is mainly driven by an increase in the number of surgeries due to sports injuries, accidents and heart surgeries due to the increased prevalence of cardiovascular diseases and other chronic conditions for which surgery is recommended as a treatment option. Due to the delay in surgical services caused by the COVID-19 outbreak, the demand for surgical equipment has decreased. The surgical equipment industry is expected to be stifled by infections associated with the equipment used, as well as a stringent regulatory environment.
Industry definition and major segments
Surgical equipment is a set of instruments that help in the physical alteration of biological tissues or access to internal organs. The advent of new electronic technologies such as minimally invasive surgery equipment, robotic and assisted systems is driving the surgical equipment industry.
The market classification based on the product is as follows:
- Surgical sutures and staplers
- Surgical sutures
- Surgical staplers
- Portable surgical equipment
- Tongs and spatulas
- Auxiliary instruments
- Cutting instruments
- Ligating clips
- Electrosurgical devices
By category, the market is split into:
- Reusable surgical material
- Disposable surgical equipment
The market can be classified on the basis of its application as:
- Plastic and reconstructive surgeries
- Closure of the wound
- Obstetrics and Gynecology
- Thoracic surgery
- Cardiovascular surgery
- orthopedic surgery
- Ophthalmic application
- Veterinary application
- dental application
Regional markets for the product include North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Breaking News in Global Surgical Equipment Market @ https://bityl.co/Cd8g
Electrosurgical instruments are expected to hold the largest market share by product owing to the growth in the number of operations performed globally and their extensive use in all kinds of procedures. However, the global manual portable surgical equipment market is expected to decline throughout the projected period owing to a shift in consumer preferences from traditional (invasive) surgeries to minimally invasive surgeries. The electrosurgical devices market is witnessing the fastest growth due to increased demand for less invasive surgeries and technological developments.
The cardiology category is expected to hold the largest market share. An increase in the frequency of coronary and percutaneous cardiology procedures, as well as a growing awareness of the benefits of early detection of cardiovascular disease, can be attributed to these factors.
North America is expected to lead the market growth as compared to forecasts. This is due to an increase in the number of elderly patients, as well as a larger patient population and more surgeries. The surgical equipment is used in gynecology, abdominal surgery, cardiothoracic and orthopedic treatments and other specialties. Additionally, due to increasing healthcare infrastructure and increasing elderly population, Asia Pacific is expected to be the fastest growing surgical equipment market in the world.
Main market players
The major market players are B. Braun Melsungen AG, CONMED Corporation, Cadence Inc., Olympus Corporation, Stryker Corporation, Medtronic plc and among others. The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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