Industry Research Report – Surgical Equipment Market forecast till 2023, is latest research report on published by MRFR. The Global Surgical Equipment Market is segmented on the basis of Product Type, Application, End User, and Region.
Surgical Equipment Market Analysis
The global surgical equipment market is predicted to grow at a 6.2% CAGR between 2018- 2023, as per the recent report by Market Research Future (MRFR). Surgical equipment is used both for major and minor surgical procedures in surgical centers and hospitals. Monitoring devices, electrosurgical generators, electrosurgical devices, handheld instruments, surgical sutures and staplers, and others are the different types of surgical equipment.
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Various factors are adding to the surgical equipment market growth. According to the new MRFR report, such factors include favorable initiatives by the government, a growing number of surgical centers, a growing medical device market, rising geriatric population, and a growing number of surgeries in hospitals & ambulatory surgical centers. Besides, the rising prevalence of chronic diseases like skin diseases, obesity, and cardiovascular diseases are also adding market growth.
On the contrary, stringent regulatory policies for different regulatory authorities and high surgical device costs are factors that may limit the global surgical equipment market growth.
Surgical Equipment Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global surgical equipment market report based on end user, application, and type.
By product type, the surgical equipment market is segmented into monitoring devices, electrosurgical generators, electrosurgical devices, handheld instruments, surgical sutures and staplers, and others. Surgical sutures & staplers are again segmented into non-absorbable and absorbable. Handheld instruments are again segmented into visual scope, sutures, forceps, and others. Electrosurgical devices are again categorized into electrosurgical instruments like electrosurgical generators, smoke evacuation system, electrosurgical pencils, HET bipolar systems, and others.
By application, the surgical equipment market is segmented into orthopedic surgery, cardiovascular surgeries, urology, wound closure, neurosurgery, and others.
By end user, the surgical equipment market is segmented into ambulatory surgical centers, hospitals, and others.
Surgical Equipment Market Regional Analysis
Based on the region, the global surgical equipment market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), and Middle East Africa (MEA). Of these, the Americas will have lions share in the market over the forecast period. Availability of surgical devices that are technologically advanced, the growing emphasis on quality care, booming medical sector, and the presence of key players are adding to the growth of the market in the region.
The global surgical equipment market in Europe is predicted to hold the second-largest share over the forecast period. Increasing healthcare spending, rise in outpatient surgeries, growing government support, and a growing number of industry players making surgical equipment are adding to the growth of the market in the region. France, the UK, and Germany are the major contributors in the region.
The global surgical equipment market in the APAC region is predicted to grow at a fast pace over the forecast period. The growing prevalence of chronic diseases, especially cardiovascular disease, growing awareness about quality care in surgical centers & hospitals, and burgeoning demand for surgical instruments and devices, are adding to the growth of the market in the region. Australia and India are the major contributors in the region for the growing healthcare expenditure and the availability of skilled and qualified medical experts.
The global surgical equipment market in the MEA is predicted to have sound growth over the forecast period. Demand for primary care services and rising availability of specialty services in Saudi Arabia and the UAE are adding to the growth of the market in the region.
Surgical Equipment Market Key Players
Leading players profiled in the global surgical equipment market report include Teleflex Incorporated (U.S.), Cook Medical (U.S.), Karl Storz GmbH & Co. Kg (Germany), Olympus Corporation (Japan), Abbott Laboratories (U.S.), KLS Martin Group (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Zimmer Holdings Inc. (U.S.), Smith & Nephew Plc (U.K), Alcon Laboratories Inc. (U.S.), Conmed Corporation (U.S.), Johnsons & Johnsons (U.S.), Stryker Corporation (U.S.), and Medtronic Plc. (U.S.).
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