by The surgical equipment market was valued at approximately USD 9.3 billion in 2021, and it is expected to witness a revenue of USD 17.82 billion in 2030, with a CAGR of 7.5% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The surgical equipment market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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The global surgical equipment market is primarily driven by the increased demand for the surgeries owing to the rising prevalence of various chronic diseases among the population. According to the World Health Organization, around 32% of the global deaths were directly linked to the cardiovascular diseases in 2019.According to the International Agency for Research on Cancer, around 19.3 million new cancer cases and around 10 million cancer related deaths were reported in the year 2020, across the globe.
The increasing popularity of the minimally invasive surgeries is boosting the consumption of the surgical equipment across the globe. The technological advancements in the healthcare field are estimated to drive the demand for the surgeries across the globe.
Further the growing geriatric population around the globe is fostering the demand for the surgical equipment as old age population is prone to the various chronic diseases. According to the Unite Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 ad this number is expected 2.1 billion by 2050. Moreover, the rising cases of sports injuries and road accidents is fueling the growth of the market. According to the Orthopedic Journal of Sports Medicine, the athletes in China showed higher rate of injuries as compared to the American athletes.
Report Scope of the Surgical Equipment Market
| Report Highlights | Details |
| Market Size | USD 17.82 Billion by 2030 |
| Growth Rate | CAGR of 7.5% From 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application, Region |
North America dominated the global surgical equipment market in 2020. The increased prevalence of various chronic diseases among the population and rapidly growing geriatric population are the major drivers of the surgical equipment market in North America. Moreover, rising awareness regarding the benefits of minimally invasive surgeries has significantly driven the consumption of surgical equipment. Further, the presence of developed healthcare infrastructure in the region fosters the growth of the surgical equipment market. , the presence of strong and developed healthcare infrastructure in the region benefits the market owing to the increased penetration of hospitals, clinics, and ambulatory services. The increased disposable income and rising healthcare expenditure is further expected to drive the market in the forthcoming years.
Asia Pacific is estimated to be the most promising market during the forecast period. This is due to the rising prevalence of various chronic diseases among the population. Moreover, the increased number of road traffic accidents is boosting the growth of the surgical equipment market. According to the World Health Organization, around 93% of the global road accidents occur in low and middle income countries, and it is one of the major causes of death among the children and young adults. Further, the increased government investments in the development of the healthcare infrastructure in the region is a major driver of the surgical equipment market.
The lack of proper healthcare infrastructure and low affordability of the surgeries in the developing and underdeveloped nations is a major hindering factor. Around 90% of the people living in the low income countries can’t afford surgical treatment. This is a major factor that may hinder the market growth.
The technological advancements in the surgery equipment and rising investments by the market players is expected to provide growth opportunities in the foreseeable future. The demand for the advanced and innovative surgical equipment is rising across the healthcare sector.
Based on the product, the electrosurgical devices segment is estimated to be the most opportunistic segment during the forecast period. This can be attributed to the rising popularity of the minimally invasive surgeries among the population. The minimally-invasive surgeries offers quick healing and reduces the time of hospital stay for the patients. The technological advancements and development of various electrosurgical equipment is expected to rapidly boost the growth of this segment.
Based on the application, the obstetrics & gynecology segment dominated the global surgical equipment market in 2020, accounting for over 22% of the market share. The rising number of complications related o reproductive organs in female and complications related with pregnancy has fostered the growth of this segment. Moreover, the rising number of cesarean deliveries is also expected to boost the growth of this segment. The increasing penetration of private hospitals, clinics, and ambulatory units is further expected to drive the growth of the market during the forecast period.
Competitive Intelligence
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global surgical equipment market are listed as below:
- B Braun Melsungen AG
- Conmed Corporation
- Cadence
- Stryker Corporation
- Olympus Corporation
- Ethicon, Inc.
- Micron Biomedical
- Alcon Laboratories
- Medtronic
- Aspen Surgical
Segments Covered in the Report
By Product
- Surgical Sutures & Staplers
- Handheld Surgical Device
- Electrosurgical Devices
By Application
- Neurosurgery
- Wound Care
- Obstetrics & Gynecology
- Cardiovascular
- Orthopedic
- Plastic & Reconstructive Surgery
- Others
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global surgical equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for surgical equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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