Data Bridge Market Research analyses that the Surgical Equipment Market which was USD 16.14 billion in 2021, is expected to reach USD 31.46 billion by 2029, at a CAGR of 8.7% during the forecast period 2022 to 2029.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
The wide ranging Surgical Equipment Market report aids understand the most affecting driving and restraining forces in the market and its impact on the global market. This business report puts light on the market strategies that are being adopted by the competitors and leading organizations. It provides CAGR (compound annual growth rate) values along with its fluctuations for the specific forecast period. Most-detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets are also few of the main aspects of this report. The persuasive Surgical Equipment Market business report provides insights and data that hold the power to truly make a difference to the client’s business.
The neurological surgical devices are used to perform neurological surgery procedures such as aneurysms, brain tumours, cerebrovascular disease, epilepsy, Parkinson’s disease and tremors, stereotactic neurosurgery, trauma surgery, and among others. Furthermore, increasing technological advancement in minimally invasive surgeries, shorter hospital stays after surgery, and an increase in the number of ambulatory surgical centres are expected to drive market growth during the forecast period.
A surgical instrument used during a surgery or operation is referred to as surgical equipment. It is a specially designed tool or device for performing specific actions or achieving desired outcomes, such as changing biological tissue or providing access to examine it. Surgical equipment refers to the tools or instruments used during surgical procedures to perform specific tasks such as altering biological tissue or providing access to view it. Various types of surgical tools have been developed over time. Some surgical instruments are designed and developed for general use in surgery, while others are made specifically for a surgical procedure.
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Global Surgical Equipment Market Dynamics
Drivers
· Advancements in Minimally-Invasive Procedures
The growing preference for minimally invasive procedures, the surgical equipment market is steadily expanding. Furthermore, the increased frequency of chronic illness and accident cases has fuelled market growth. Recent advances in minimally invasive procedures are evidence of significant surgical equipment advancements that have contributed to market growth in the past. Surgeons have been able to deliver greater precision in complex procedures. These are some of the advancements propel the market's growth.
· Rise in Surgeries
The increasing number of surgeries benefits the surgical equipment industry. Surgeries, particularly general surgery, which includes procedures on the oesophagus, appendix, stomach, large intestine, small intestine, liver, gallbladder, pancreas, and bile ducts, have grown rapidly in recent years. Furthermore, the rising global prevalence of chronic diseases had been a significant driver of market growth. Furthermore, an increase in the number of thyroid problems around the world has increased demand for sophisticated surgical equipment that allows for more precise treatment. The surgical equipment industry is expected to benefit from this.
Opportunities
· Growing Demand for Power Tools in Surgical Procedures
The growing need for power tools will drive the demand for surgical equipment. The surgical power tools market benefits from the growing demand for minimally invasive surgeries. Due to their advantages, there is increased adoption of battery-driven cordless surgical power tools. Vendors are increasingly focusing on the use of lithium-ion batteries in surgical tools. This is expected to improve the workflow efficiency of surgeons. These batteries offer high energy density, a long lifecycle, improved reliability, and high-performance standards. Moreover, there has been an increased demand for cordless surgical tools.
Global Surgical Equipment Market Scope
The surgical equipment market is segmented on the basis of product, category, application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
· Surgical Sutures and Staplers
· Surgical Sutures
· Surgical Staplers
· Handheld Surgical Equipment
· Forceps and Spatulas
· Retractors
· Dilators
· Grasper
· Auxiliary Instruments
· Clamps
· Cannulas
· Cutter Instruments
· Trocars
· Lancets
· Scissors
· Ligating Clips
· Others
· Electrosurgical Devices
· Generators
· Consumables
· Others
Category
· Reusable Surgical Equipment
· Disposable Surgical Equipment
Application
· Plastic and Reconstructive Surgeries
· Wound Closure
· Urology
· Obstetrics and Gynecology
· Thoracic Surgery
· Cardiovascular Surgery
· Orthopaedic Surgery
· Laparoscopy
· Ophthalmic application
· Veterinary application
· Dental application
· Others
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Surgical Equipment Market Regional Analysis/Insights
The surgical equipment market is analyzed and market size insights and trends are provided by country, product, category, application as referenced above.
The countries covered in the surgical equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the surgical equipment market owing to the occurrence of well-established infrastructure along with technological advancement and adoption of minimally invasive surgeries.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the growing concern regarding medical tourism.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Surgical Equipment Market Share Analysis
The surgical equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to surgical equipment market.
Some of the major players operating in the surgical equipment market are:
· B. Braun SE (Germany)
· Smith+Nephew (U.K.)
· Zimmer Biomet (U.S.)
· Stryker (U.S.)
· Alcon Vision LLC (U.S.)
· Aspen Surgical (U.S.)
· Medtronic (Ireland)
· Ethicon Inc. (U.S.)
· BD (U.S.)
· Boston Scientific Corporation (U.S.)
· CONMED Corporation (U.S.)
· Entrhal Medical GmbH (Germany)
· Fuhrmann GmbH (Germany)
· KLS Martin Group (U.S.)
· MEDICON eG (Germany)
· KARL STORZ (Germany)
· Olympus Corporation (Japan)
· Erbe Elektromedizin GmbH (Germany)
· Integra LifeSciences (U.S.)
· Getinge AB (Sweden)
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FREQUENTLY ASKED QUESTIONS
· At what growth rate will the market be projected to grow during the forecast period of 2022 to 2029?
· What will be the market value in the future?
· Who are the major players operating in the market?
· Which countries data are covered in the report?
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