Surgical Equipment Market

PORTLAND, OREGON, UNITED STATE, July 20, 2022 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Surgical Equipment Market by Product (Sutures & Staplers, Handheld Surgical Instruments, Electrosurgical Devices, Others), Category (Reusable Surgical Equipment and Disposable Surgical Equipment), and Application (Neurosurgery, Plastic & Reconstructive Surgeries, Wound Closure, Urology, Obstetrics & Gynecology, Thoracic Surgery, Microvascular, Cardiovascular, Orthopedic Surgery, Laparoscopy, Ophthalmic Application, Veterinary Application, Dental Application, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global surgical equipment market garnered $31.72 billion in 2019 and is expected to reach $44.44 billion by 2027, registering a CAGR of 6.3% from 2020 to 2027.

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Key determinants of the market-

Surge in geriatric population, rise in chronic diseases, growth in demand for minimally invasive surgeries, and increase in number of surgical procedures across the globe drive the global surgical equipment market. However, high price competition and unfavorable taxation policy hinder the market growth. On the other hand, growth prospects in the emerging economies and advancement in technology are expected to pave the way for numerous opportunities in the near future.

Covid-19 Scenario-

To meet the increasing demand for appropriately trained medical staff to take care of the patients affected by Coronavirus, huge mass of medical facility has been deployed to Covid-19 care branches. This has disrupted the surgical activities to certain extent.

The shortage of raw materials due to restrictions has impacted equipment manufacturing activities. At the same time, the manufacturers have focused on production of other essential requirements such as masks, personal protection equipment, and more to meet the rising demand.
Nevertheless, the worldwide situation is getting better and the industry is therefore revitalizing.

The handheld surgical instruments segment to dominate throughout the forecast period-

Based on product, the handheld surgical instruments segment accounted for nearly two-fifths of the global surgical equipment market in 2019 and would continue its dominance through 2027. User friendly designs, incorporation of ergonomic features, high demand for anti-magnetic, corrosion resistant, and biocompatible devices are some of the factors that drive the growth of the segment. However, the electrosurgical devices segment would register the fastest CAGR of 7.8% from 2020 to 2027. This is attributed to rising demand for advanced surgical techniques and significant need for minimally invasive surgical procedures.

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The reusable surgical equipment to lead the trail by 2027-

Based on category, the reusable surgical equipment segment contributed to more than three-fifths of the global surgical market in 2019 and would maintain its dominance share throughout 2027. Surge in adoption of reusable surgical equipment to reduce overhead costs, especially by surgeons operating in small medical set-ups or ambulatory surgical center (ASC) have driven the growth of the segment. In addition, the increase in focus of the manufacturers on introducing high-quality reusable surgical equipment further fuels the growth. However, the disposable surgical equipment segment is expected to grow at the fastest CAGR of 6.7% from 2020 to 2027, owing to increasing demand for these equipment as they offer an array of benefits including ease of workflow of surgical operations and enhanced safety of the patients undergoing surgery along with safety of staff in the medical set-up.

Key market players-

• Medtronic Plc.
• Peters Surgical SASU
• Johnsons & Johnsons
• Conmed Corporation
• Novartis International AG
• Smith & Nephew PLC
• Boston Scientific Corporation
• B. Braun Melsungen AG
• Cousin-Biotech
• Enthral Medical GMBH
• Fuhrmann GMBH
• Integral Lifesciences Holdings Corporation
• KLS martin Group

Frequently Asked Questions?

Q1. What are the leading countries affected by Surgical Equipment?
Q2. Which is the largest regional market for Surgical Equipment?
Q3. What is the estimated industry size of Surgical Equipment?
Q4. Which are the top companies to hold the market share in Surgical Equipment?
Q5. What are the major drivers for Surgical Equipment?

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