Surgical Equipment Market Growth Analysis, Trends Forecast by Regions and Types to 2030

Posted on 2023-04-11 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 11, 2023 — /EPR Network/ —

Surgical Equipment Industry Overview

The global Surgical Equipment Market size is expected to reach USD 31.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2022 to 2030. The growing geriatric population, a rise in the volume of surgical procedures, technological advancements, and an increase in awareness regarding the benefits of early surgical intervention are expected to drive the market. In addition, growing disposable income in developing countries and rising demand for minimally invasive surgeries are expected to propel the growth of the market over the forecast period.

The rise in the prevalence of chronic diseases is another major factor that is expected to fuel the growth of the market. The increasing shift towards a sedentary lifestyle and a rise in the consumption of processed foods are leading to an increase in the prevalence of chronic diseases such as cardiovascular disorders. Thus, this is expected to have a positive impact and is anticipated to lead to a rise in the demand for surgical equipment over the forecast period

The market observed a sudden fall in the sales of surgical equipment during the first half of the pandemic. Postponement of elective surgeries, reduced hospital visits that resulted in delayed diagnosis, and disruption in the supply chain due to the lockdowns and restrictions imposed to curb the spread of the virus had a negative impact on the market. However, with the world returning to normalcy, the market is recovering at a very fast pace and is expected to grow significantly over the forecast period.

Surgical Equipment Market Segmentation

Grand View Research has segmented the global surgical equipment market based on product, application, and region:

Based on the Product Insights, the market is segmented into Surgical Sutures & Staplers, Handheld Surgical Devices and Electrosurgical Devices.

The surgical suturesand staplers segment dominated the market with a revenue share of more than 40.0% in 2021. This can be attributed to the high adoption rate of sutures and staplers owing to their increasing use in wound closure procedures.
The handheld surgical devices segment held a significant revenue share in 2021 and is expected to grow at a healthy rate during the projection period. The handheld surgical devices segment is further fragmented into forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and others.

Based on the Application Insights, the market is segmented into Neurosurgery, Plastic & Reconstructive Surgery, Wound Closure, Obstetrics & Gynecology, Cardiovascular, Orthopedic and Others.

The obstetrics and gynecology segment held the second-largest revenue share in 2021 owing to the increasing number of childbirths worldwide and the sudden rise in the prevalence of female reproductive organ disorders, which has led to an increase in the number of gynecological surgeries.
The plastic and reconstructive surgery segment is anticipated to witness the fastest growth during the forecast period. Factors such as growing disposable income, technological advancements, and growing demand to improve esthetic appeal are expected to boost the growth of the segment over the forecast period.

Surgical Equipment Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key players operating in the market are manufacturing perfusion systems and focusing on various strategic initiatives to boost their market presence. They are also strengthening their product portfolio through the acquisition of companies that represent great potential, partnerships & collaborations, and increased focus on research and development activities to develop technologically advanced products.

Some prominent players in the global Surgical Equipment market include

Braun Melsungen Ag
Smith & Nephew plc
Zimmer Biomet Holdings Inc.
Stryker Corporation
Alcon Laboratories Inc.
Aspen Surgical Products, Inc.
Medtronic Inc.
Ethicon Inc.
Becton, Dickinson and Company

Order a free sample PDF of the Surgical Equipment Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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