The global surgical equipment market is likely to cross $11 billion, growing at a CAGR of 7.9% during 2016–2022. The demand is majorly driven due to increased chronic disorders requiring surgery. Also increased usage of advanced surgical stapling devices in surgery is likely to attribute to the market growth.
Surgical Equipment Market Size in Revenue
The report provides a holistic view of the global surgical equipment market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the surgical equipment market. Further the report also provides complete value chain analysis of the global market.
Medtronic, Stryker, CONMED, Johnson & Johnson, Zimmer Biomet top the vendor list
This report provides an exhaustive list of vendors that are active in providing surgical equipment. It includes vendors across all geographical locations. The vendors in the surgical instrument market are identified based on the revenue and market dominance in terms of presence in the market, geographical reach, product portfolio, and R&D investments. Major vendors profiles in the report are Medtronic, Stryker, CONMED, Johnson & Johnson, Zimmer Biomet.
Other prominent surgical instrument vendors are 3M, Adeor Surgical Instruments, Arthrex, Aygun, B. Braun Melsungen, Ceterix Orthopaedics, Changzhou Haida Medical Equipment, Collin Medical, DACH Medical, De Soutter Medical, Dextera Surgical, Golden Stapler Surgical, Grena, In’Tech Medical, Karl Storz, Incisive Surgical, KLS Martin, Lotus Surgical, MEDACTA, MedicMicro, MicroAire, Nouvag, OsteoMed, Purple Surgical, Reach Surgical, Siemens Healthcare, Smith & Nephew, Stars Medical Devices, Surgical Holdings, Teleflex Medical, Waston Medical, and Xion Medical
Introduction of robotic surgery driving the demand
The growing demand for aesthetic and cosmetic surgery equipment, increasing mergers and acquisitions, and product innovations are the emerging trends that are going to boost the surgical equipment market growth during the forecast period. Further, the increased need for robotic surgery will drive the demand for surgical instruments.
Along with the increasing volume of surgical procedures, increasing popularity of minimally invasive procedures and growing need for surgical power tools are expected to fuel the market growth.
Increasing complications associated with the use of surgical equipment may hinder the growth prospects in the market.
Electrosurgical equipment to grow at a rate of 8.06%
The sutures and staples segment will continue to dominate the market in 2022. The electrosurgical equipment and hand-held surgical devices segments are expected to grow at a rate of 8.06% and 7.60%, respectively during the forecast period. Hospitals are key end-users that greatly influence market growth. The increasing incidence of gynecology disorders is expected to fuel the market growth, as the adoption is more in obstetrics. The plastic and reconstructive segment is expected to grow at a faster pace due to increasing demand for aesthetic and cosmetic surgeries worldwide.
North America to be the largest surgical equipment market globally
The surgical equipment market in North America is projected to grow at a steady pace during the forecast period due to increased adoption of technologically advanced surgical systems. The US and Canada, being the two strong economies globally, is currently witnessing the maximum number of product launches. North America is followed by Europe. APAC and Latin America stand next to the European market.
Key market insights include
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