Surgical Equipment Market: Global Industry Analysis and Forecast (2023-2029)

Surgical Equipment Market size was valued at USD 14.2 Billion in 2022 and the total Surgical Equipment Market revenue is expected to grow at a CAGR of 8.6 % from 2023 to 2029, reaching nearly USD 21.4 Billion.

Surgical Equipment Market Overview

Market is a tool or device for performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue. There are different kinds of surgical Equipment and tools have been invented. Some surgical Equipment is designed for general use in all sorts of surgeries, while others are designed for only certain specialties or specific procedures. These surgical Equipment include retractors, dilators, graspers, auxiliary instruments, cutters, retractors, scissors, sutures, electrosurgical devices, and other specialized tools and instruments that are used for surgeries. The surgical equipment market serves a variety of healthcare settings, including hospitals, clinics, and ambulatory surgical centers.vSurgical Equipment MarketTo know about the Research Methodology :- Request Free Sample Report

Surgical Equipment Market Scope and Research Methodology

The global Surgical Equipment Market is analyzed through segments including product type, applications, category, and region. The report provides an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation and gives a clear business view to the Investors. The Surgical Equipment Market report presents an analysis of market size, market share, and growth, trends, cost structure, statistical and comprehensive data of the global market. The Surgical Equipment Market report covers the key players in the Surgical Equipment industry, including company profile, revenue, product specifications, product sales, price, and gross margin sales, market share as well as an in-depth analysis of the market. The report covers a competitive analysis of market drivers, restraints, opportunities, and growth. To analyze the impact of micro-economic and macro-economic factors on the market, PORTER and PESTLE analyses were conducted. SWOT analysis was used to study the strengths and weaknesses of the surgical equipment Industry. The bottom-up approach was used to estimate the Surgical Equipment Market size. Increasing Demand For Surgeries to Boosts Surgical Equipment Market The increasing demand for surgeries has been attributed to various drivers. The major driver is the aging population, which has resulted in a higher incidence of chronic diseases that require surgical interventions. Another Reason for the surgeries is the rise in obesity rates, leading to an increase in bariatric surgeries. Technological advancements have also enabled more complex surgeries to be performed, attracting more patients. Moreover, growing awareness and acceptance of cosmetic surgeries have contributed to the rising demand for elective procedures. The Surgical Equipment Market has been providing Improvements in healthcare infrastructure and the availability of health insurance has made surgeries more accessible and affordable to people. These are reasons for an overall increase in demand for surgeries. Opportunities Innovations in Surgical Equipment Create Opportunities for Surgical Equipment Market Growth The surgical equipment market presents significant growth opportunities, driven by the continuous innovations in surgical equipment. Advancements in technology and the increasing demand for minimally invasive surgeries are driving the development of new surgical equipment that can improve patient outcomes and reduce healthcare costs. Manufacturers and suppliers of surgical equipment are investing heavily in research and development to create innovative products that meet the evolving needs of healthcare professionals. For instance, the development of robotic-assisted surgery and 3D printing technology has resulted in the introduction of new surgical equipment that can perform complex surgeries with greater precision and accuracy. Furthermore, the expanding healthcare infrastructure in emerging markets presents an untapped market opportunity for surgical equipment manufacturers. Overall, the ongoing research and development efforts in surgical equipment are expected to create significant growth opportunities in the market

Surgical Equipment Market Segmentation

Based on Products, most of the Surgical Equipment market's revenue is controlled by the surgical sutures and stapler’s category. The surgical sutures and staplers segment dominated the market with a revenue share of more than 52.0% in 2022 this has been 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 2022 and is expected to grow at a healthy rate during the forecast period. The handheld surgical equipment segment is further fragmented into forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and others.Surgical Equipment Market1Based on Applications, the Surgical Equipment market revenue is controlled by the consumer category. The other’s segments held the largest revenue share of over 25.0% in 2022. The obstetrics and gynecology segment held the second largest share in 2022 owing to the increasing number of childbirth 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. According to CDC’s report, in 2022, an estimated 1,243,882 cessation surgeries were performed in the U.S. On the basis of application, the market is segmented into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics and gynecology, cardiovascular, orthopaedic, and others.Surgical Equipment Market2Based on Categories, the disposable Surgical Equipment category controls most of the Surgical Equipment market's revenue. This is because disposable Surgical Equipment has become increasingly popular over time and is used more frequently during procedures, including orthopaedic, exploratory surgery, plastic and reconstructive surgery, and others. When a healthcare facility receives a pre-sterilized instrument, neither decontamination nor a long sterilization process is required, saving the facility money. In addition, after a tool has been used, disinfected, and stored, its cleanliness cannot be determined. Disposable, one-time-use equipment guarantees the ability to account for every inventory item and provide complete traceability. Each piece's lot number may be tracked back to a medical manufacturing facility to prevent discrepancies and problems. The reusable segment is expected to register a steady revenue growth rate during the forecast period. Reusable medical equipment, such as surgical forceps, endoscopes, and stethoscopes, are reprocessed and utilized on many patients. These instruments are intended and labeled for numerous uses and are reprocessed between patients by thorough cleaning consisting of high disinfection or sterilization. They are constructed with materials that can endure frequent reprocessing including manuals are brushing and chemical usage.Surgical Equipment Market3Based on material, The surgical equipment market can also be segmented based on the material used in the equipment. The main segments by material type include stainless steel, titanium, ceramics, and other materials. Stainless steel is the most commonly used material due to its durability and corrosion resistance. Titanium is also a popular material due to its strength and biocompatibility. Ceramics are used in surgical equipment due to their resistance to wear and tear, as well as their biocompatibility. The demand for surgical equipment made of different materials varies depending on the application and preference of healthcare professionals. Overall, manufacturers are continuously improving their materials and designs to meet the evolving needs of the healthcare industry, resulting in a growing market for surgical equipment.

Surgical Equipment Market Regional Insight

North America held the largest revenue share of over 35.0% in 2022. Factors such as high healthcare expenditure and the presence of well-established hospitals and major players operating in the U.S. are contributing to the growth of the market in the Surgical Equipment industry. For example, as per the recent report of the national center for health statistics, approximately 50 million surgeries are performed every year in the U.S. A high rate of obesity in the country and an increasing number of FDA approvals for the non-invasive procedure are expected to support the development of the market. Key players are focusing on inorganic growth strategies, such as partnership and collaboration and new product launches in the U.S. market. Technological advancements and rising demand for minimally invasive surgeries are expected to drive the regional market over the forecast period. North America is expected to dominate the global surgical equipment market in terms of revenue and sales. Regional development has been rising healthcare costs and a solid healthcare system. Numerous well-known firms, mostly from the United States, are also based in the area. The market for surgical equipment in North America grows as demand for minimally invasive procedures rises and consumer awareness rises. The dominance of chronic diseases are continue to rise, and an aging population fuels market expansion. Asia Pacific is anticipated to become the fastest-growing regional market over the forecast period. Rising disposable income in countries like India and China is expected to boost the growth of the plastic and reconstructive surgeries segment, thereby contributing to regional market growth. The rising geriatric population in the region is expected to lead to a rise in the number of orthopedic and cardiovascular procedure volumes.

Surgical Equipment Market Competitive Landscape

The global surgical equipment market is extremely competitive due to the presence of major players those players constantly innovate their product portfolios due to intense competition and rapid technological advancements, these companies focus heavily on their research and development to include a broader range of products. Various strategies are investments, partnerships, and mergers and acquisitions supplement the fragmented market growth. The key players in the global surgical equipment market include- B. Braun SE, Boston Scientific Corporation, CONMED Corporation, Entrhal Medical GmbH, Fuhrmann GmbH, Smith & Nephew, Zimmer Biomet, Stryker, Alcon Vision LLC, Aspen Surgical, Medtronic, Ethicon Inc. among others

Recent developments

June 2022- The surgical device portfolio for its Ambulatory Surgical Centers was expanded by Xenco Medical with the launch and approval of its Multilevel CerviKit by the U.S. Food and Drug Administration. This single-use cervical spine technology fully complements implants and single-use tools for 2, 3, and 4-level anterior cervical spine surgeries. June 2022- Johnson & Johnson MedTech subsidiary Ethicon debuted the ECHELON 3000 Stapler in the U.S. It is a digitally enabled instrument that enables simple, one-handed powered articulation for surgeons to help them handle the unique demands of their patients

Surgical Equipment Market Scope: Inquire before buying

Surgical Equipment Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 14.2 Bn.
Forecast Period 2023 to 2029 CAGR: 8.6% Market Size in 2029: US $ 21.4 Bn.
Segments Covered: by Product 1. Surgical Sutures and Staplers

1. Surgical Sutures 2. Surgical Staplers

2. Handheld Surgical Devices

1. Forceps & Spatulas 2. Retractors 3. Dilators 4. Graspers 5. Auxiliary Instruments 6. Clamps 7. Cannulas 8. Cutter Instruments 9. Trocars 10. Lancets 11. Scissors

3. Electrosurgical Devices 4. Other surgical equipment

1. Surgical Hernia Mesh 2. Surgical Glue/Sealant & Hemostasis 3. Powered Surgical Equipment

by Category 1. Reusable Surgical Equipment, 2. Disposable Surgical Equipment
by Application 1. Neurosurgery 2.Plastic & Reconstructive Surgeries 3. Wound Closure 4. Urology 5. Obstetrics & Gynecology 6. Thoracic Surgery 7. Microvascular 8. Cardiovascular 9. Orthopedic Surgery 10. Laparoscopy 11. Ophthalmic application 12.Veterinary application 13. Dental application 14. Other
by Material Type 1. stainless steel 2. titanium 3. ceramics 4. others.
by End-User 1. Hospitals, 2. Ambulatory Surgical Centers 3. Others

Surgical Equipment Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) South America (Brazil, Argentina Rest of South America) Middle East & Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)

Surgical Equipment Market, Key Players are

1. B. Braun Melsungen Ag, 2. Boston Scientific Corporation, 3. Conmed Corporation, 4. Cousin-Biotech, 5. Entrhal Medical Gmbh, 6. Fuhrmann Gmbh, 7. Integra Life Sciences Holdings Corporation, 8. Johnson & Johnson, 9. Kls Martin Group, 10. Medtronic Plc, 11. Novartis International Ag, 12. Peters Surgical Sasu, 13. Smith & nephew plc 14. Olympus Corporation 15. Erbe Elektromedizin GmbH 16. Integra LifeSciences 17. Getinge AB Frequently Asked Questions: 1] What is the growth rate of the Global Surgical Equipment Market? Ans. The Global Surgical Equipment Market is growing at a significant rate of 8.6 % during the forecast period. 2] Which region is expected to dominate the Global Surgical Equipment Market? Ans. North America is expected to dominate the Surgical Equipment Market during the forecast period. 3] What is the expected Global Surgical Equipment Market size by 2029? Ans. The Surgical Equipment Market size is expected to reach USD 21.4 Bn by 2029. 4] Which are the top players in the Global Surgical Equipment Market? Ans. The major top players in the Global Surgical Equipment Market are B. Braun Melsungen Ag, Boston Scientific Corporation, Johnson & Johnson. 5] What are the factors driving the Global Surgical Equipment Market growth? Ans. Technological advancements in the IT sector and their applications in large enterprises and SMEs are boosting the market. AI-based solutions & services platforms are driving the Surgical Equipment Market growth.
1. Global Surgical Equipment Market: Research Methodology 2. Global Surgical Equipment Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Surgical Equipment Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Surgical Equipment Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Surgical Equipment Market Segmentation 4.1 Global Surgical Equipment Market, by Product (2022-2029) • Surgical Sutures and Staplers o Surgical Sutures o Surgical Staplers • Handheld Surgical Devices o Forceps & Spatulas o Retractors o Dilators o Graspers o Auxiliary Instruments o Clamps o Cannulas o Cutter Instruments o Trocars o Lancets o Scissors • Electrosurgical Devices • Other surgical equipment o Surgical Hernia Mesh o Surgical Glue/Sealant & Hemostasis o Powered Surgical Equipments 4.2 Global Surgical Equipment Market, by Category (2022-2029) • Reusable Surgical Equipment, • Disposable Surgical Equipment 4.3 Global Surgical Equipment Market, by Application (2022-2029) • Neurosurgery • Plastic & Reconstructive Surgeries • Wound Closure • Urology • Obstetrics & Gynecology • Thoracic Surgery • Microvascular • Cardiovascular • Orthopedic Surgery • Laparoscopy • Ophthalmic application • Veterinary application • Dental application • Other 4.4 Global Surgical Equipment Market, by Material Type (2022-2029) • stainless steel • titanium • ceramics • others 4.5 Global Surgical Equipment Market, by End-User (2022-2029) • Hospitals, • Ambulatory Surgical Centers • Clinics • Others 5. North America Surgical Equipment Market(2022-2029) 5.1 North America Surgical Equipment Market, by Product (2022-2029) • Surgical Sutures and Staplers o Surgical Sutures o Surgical Staplers • Handheld Surgical Devices o Forceps & Spatulas o Retractors o Dilators o Graspers o Auxiliary Instruments o Clamps o Cannulas o Cutter Instruments o Trocars o Lancets o Scissors • Electrosurgical Devices • Other surgical equipment o Surgical Hernia Mesh o Surgical Glue/Sealant & Hemostasis o Powered Surgical Equipment 5.2 North America Surgical Equipment Market, by Category (2022-2029) • Reusable Surgical Equipment, • Disposable Surgical Equipment 5.3 North America Surgical Equipment Market, by Application (2022-2029) • Neurosurgery • Plastic & Reconstructive Surgeries • Wound Closure • Urology • Obstetrics & Gynecology • Thoracic Surgery • Microvascular • Cardiovascular • Orthopedic Surgery • Laparoscopy • Ophthalmic application • Veterinary application • Dental application • Other 5.4 North America Surgical Equipment Market, by Material Type (2022-2029) • stainless steel • titanium • ceramics • others. 5.5 North America Surgical Equipment Market, by End-User (2022-2029) • Hospitals, • Ambulatory Surgical Centers • Clinics • Others 5.6 North America Surgical Equipment Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Surgical Equipment Market (2022-2029) 6.1. European Surgical Equipment Market, by Product (2022-2029) 6.2. European Surgical Equipment Market, by Category (2022-2029) 6.3. European Surgical Equipment Market, by Application (2022-2029) 6.4. European Surgical Equipment Market, by Material Type (2022-2029) 6.5. European Surgical Equipment Market, by End-User (2022-2029) 6.6. European Surgical Equipment Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Surgical Equipment Market (2022-2029) 7.1. Asia Pacific Surgical Equipment Market, by Product (2022-2029) 7.2. Asia Pacific Surgical Equipment Market, by Category (2022-2029) 7.3. Asia Pacific Surgical Equipment Market, by Application (2022-2029) 7.4. Asia Pacific Surgical Equipment Market, by Material Type (2022-2029) 7.5. Asia Pacific Surgical Equipment Market, by End-User (2022-2029) 7.6. Asia Pacific Surgical Equipment Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Surgical Equipment Market (2022-2029) 8.1 Middle East and Africa Surgical Equipment Market, by Product (2022-2029) 8.2. Middle East and Africa Surgical Equipment Market, by Category (2022-2029) 8.3. Middle East and Africa Surgical Equipment Market, by Application (2022-2029) 8.4. Middle East and Africa Surgical Equipment Market, by Material Type (2022-2029) 8.5. Middle East and Africa Surgical Equipment Market, by End-User (2022-2029) 8.6. Middle East and Africa Surgical Equipment Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Surgical Equipment Market (2022-2029) 9.1. South America Surgical Equipment Market, by Product (2022-2029) 9.2. South America Surgical Equipment Market, by Category (2022-2029) 9.3. South America Surgical Equipment Market, by Application (2022-2029) 9.4. South America Surgical Equipment Market, by Material Type (2022-2029) 9.5. South America Surgical Equipment Market, by End-User (2022-2029) 9.6. South America Surgical Equipment Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Sinopec Corp. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. China National Petroleum Corp. 10.3. HollyFrontier Corp. 10.4. BP PLC 10.5. Nippon Seiro Co., Ltd. 10.6. Baker Hughes 10.7. Exxon Mobil Corp. 10.8. Sasol Ltd. 10.9. Lnternational Group Inc. 10.10. Evonik Industries AG 10.11. BASF SE 10.12. Honeywell International Inc. 10.13. Royal Dutch Shell Plc 10.14. Mitsui Chemicals 10.15. Cepsa
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