The surgical instruments market refers to the industry that produces and sells tools used in surgical procedures, including scalpels, forceps, scissors, retractors, and clamps. The market includes both reusable and disposable instruments, as well as specialized instruments for specific types of surgery.
The surgical instruments market is driven by factors such as an increasing number of surgical procedures, technological advancements in surgical instruments, and a growing geriatric population. The market is also influenced by factors such as rising healthcare expenditure, an increase in the number of surgical centers, and a surge in demand for minimally invasive surgical procedures.
North America dominates the global surgical instruments market, followed by Europe and Asia-Pacific. Key players in the market include B. Braun Melsungen AG, Johnson & Johnson, Stryker Corporation, Smith & Nephew plc, and Medtronic plc. The market is highly competitive, with players focusing on innovation, product differentiation, and strategic partnerships to gain a competitive edge.
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Based on application, the plastic & reconstruction surgeries segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing cases of road accidents, rising focus on personal appearance and esthetics, increasing disposable income in developing countries, increasing number of surgeries such as chin and breast augmentation, breast reduction, and rising demand for advanced surgical instruments.
Based on category, the reusable segment is expected to register fastest revenue CAGR during the forecast period owing to factors such as increasing prevalence of chronic illnesses and accidents, and high demand for advanced surgical instruments to cater to rising number of complex surgeries. In addition, availability of various instruments of plastics and polymers with better retention properties that can withstand heat and radiation for effective sterilization is expected to drive revenue growth of the segment during the forecast period.
Europe is expected to register steady revenue growth between 2021 and 2028 owing to factors such as rising prevalence of chronic diseases, trauma injuries, presence of well-developed healthcare infrastructure, and high preference for minimally invasive surgery instruments. In addition, increasing investments in research and development activities, and rapid advancements in surgical devices and instruments are expected to fuel market growth during the forecast period.
Asia Pacific market revenue is expected to expand at a CAGR of 8.2% during the forecast period. This can be attributed to rising cases of chronic illnesses, increasing number of road accidents, and surgeries, rising healthcare spending, and increasing demand for latest surgical instruments and devices. In addition, increasing investments in research and development activities to develop advanced and affordable surgical instruments is expected to fuel market growth in Asia Pacific during the forecast period.
Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Alcon Laboratories, Inc., Becton, Dickinson and Company, Medtronic, Plc, Boston Scientific Corporation, Abbott Laboratories, Inc., Progressive Medical, Inc., Scanlan International, Koninklijke Philips NV, Biolitec AG, and Johnson & Johnson are some key companies operating in the global surgical instruments market.
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Market Segmentation:
Product Type Outlook:
· Surgical Sutures & Staplers
· Handheld Surgical Devices
· Forces & Spatulas
· Refractors
· Dilators
· Graspers
· Auxiliary Instrument
· Cutter Instrument
· Electrosurgical Devices
Application Outlook:
· Neurosurgery
· Obstetrics & Gynecology
· Wound Closure
· Cardiovascular
· Plastic & Reconstructive Surgery
· Orthopedic
· Laparoscopy
· Others
Category Outlook:
· Reusable
· Disposable
· Regional Outlook:
North America
· U.S.
· Canada
· Mexico
· Europe
· Germany
· U.K.
· France
· Italy
· Spain
· Sweden
· BENELUX
Rest of Europe
· Asia-Pacific
· China
· India
· Japan
· South Korea
Rest of APAC
· Latin America
· Brazil
· Rest of LATAM
· Middle East & Africa
· Saudi Arabia
· UAE
· South Africa
· Israel
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