Surgical Equipment Market Size by Product and by Application) - Global Opportunity Analysis and Industry Forecasts, 2014-2022

  • ID: 4580557
  • Report
  • Region: Global
  • 350 pages
  • Allied Analytics LLP
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Surgical equipment are tools that aid the physical modification of biological tissues or aid to provide access to the internal body. The global surgical equipment market is expected to grow at CAGR of 7.0% during the forecast period, owing to introduction of modern electronic technologies such as minimally invasive surgery equipment and robotic & power-assisted systems. For instance, Johnson & Johnson signed an agreement to collaborate with Google to develop surgical robotics. Other factors that drive the growth of the global surgical equipment market are increase in preference for robot-assisted surgery and rise in geriatric population, which is highly susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health conditions. Robotic-assisted surgery is a type of minimally invasive surgery to provide surgeons with improved control, access, and accuracy during the surgical procedure. However, inadequate quality assurance concerning to performance, improper sterilization procedures for reusable equipment, and absence of affirmative regulatory framework in the developing economies limit the market growth. On the contrary, increase R&D activities in the field of surgical equipment is anticipated to create new opportunities during the forecast period.

The global surgical equipment market is segmented based on product, category application, and geography. On the basis of product, the market is categorized into surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. Handheld surgical devices are further divided into forceps & spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and others (suction tubes, rasps, dissectors, and needle holders). Surgical sutures & staplers account for the largest market share, owing to rise in number of surgeries performed globally and their frequent use in all types of surgeries. The electrosurgical devices segment grows at the highest rate, due to advancement in technology and surge in demand for minimally invasive surgeries. Based on category the market is categorized into reusable surgical equipment and disposable surgical equipment. Further, based on application the market is classified into neurosurgery, plastic & reconstructive surgeries, wound closure, urology, obstetrics &gynecology, thoracic surgery, microvascular surgery, cardiovascular surgery, orthopedic surgery, laparoscopy, and others.

Geographically, the surgical equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global surgical equipment market, followed by Europe and Asia-Pacific. This is attributed to the large patient pool undergoing surgeries coupled with faster incorporation of novel surgical equipment in this region. In addition, favorable regulatory framework promotes manufacturers to invest in the development of surgical equipment.. Factors such as substantial growth in the medical tourism industry, rising need to fulfill the unmet healthcare demands, and rising innovations in the surgical treatment has contributed to the robust growth displayed by the Asia-Pacific region in the surgical equipment market during the forecast period.

KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the global surgical equipment market with the current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of the factors that drive and restrict the market growth is provided.
Comprehensive quantitative analysis of the industry is provided from 2016 to 2023 to assist stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry helps to understand the trends in surgical equipment globally.
Key players and their strategies are provided to understand the competitive outlook of the industry.

KEY MARKET SEGMENTS

By Product

Surgical Sutures and Staples
Surgical Sutures
Surgical Staples
Handheld Surgical equipment
Forceps and Spatulas
Retractors
Dilators
Graspers
Auxiliary Instruments
Clamps
Cannulas
Closure Devices
Cutter Instruments
Trocars
Lancets
Scissors
Others (Suction Tubes, Rasps, Dissectors, and Needle Holders)
Electrosurgical Devices

By Category

Reusable Surgical Equipment
Disposable Surgical Equipment

By Application

Neurosurgery
Plastic and Reconstructive Surgeries
Wound Closure
Urology
Obstetrics and Gynecology
Thoracic Surgery
Microvascular Surgery
Cardiovascular Surgery
Orthopedic Surgery
Laparoscopy
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Spain
Italy
Switzerland
Austria
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

KEY MARKET PLAYERS

Medtronic Plc.
Stryker Corporation
Johnsons & Johnsons
Conmed Corporation
Alcon Laboratories Inc.
Smith & Nephew Plc
Zimmer Holdings Inc.
Boston Scientific Corporation
B. Braun Melsungen AG
KLS Martin Group
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Disposable versus reusable surgical equipment
3.3. Key findings
3.3.1. Top investment pockets
3.3.2. Top winning strategies
3.4. Porters five forces analysis
3.5. Market share analysis, 2016
3.6. Market dynamics
3.6.1. Drivers
3.6.1.1. Large pool of geriatric population and related rise in chronic diseases
3.6.1.2. Rising number of surgical procedures across the globe
3.6.1.3. Growing demand for minimally invasive surgeries
3.6.2. Restraints
3.6.2.1. High price competition
3.6.2.2. Unfavorable taxation policy
3.6.3. Opportunities
3.6.3.1. Various growth opportunities from emerging economies
3.6.3.2. Advanced technology
3.7. Government Regulations
3.7.1. Medical devices regulations in U.S.
3.7.2. Medical devices regulations in European Member Nations
3.7.3. Medical devices regulations in Asia-Pacific

CHAPTER 4: SURGICAL EQUIPMENT MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Surgical Sutures and Staplers
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.2.4. Market analysis, by country
4.2.5. Surgical Sutures
4.2.5.1. Market size and forecast
4.2.6. Surgical Staplers
4.2.6.1. Market size and forecast
4.3. Handheld Surgical equipment
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.3.4. Market analysis, by country
4.3.5. Forceps and Spatulas
4.3.5.1. Market size and forecast
4.3.6. Retractors
4.3.6.1. Market Size and Forecast
4.3.7. Dilators
4.3.7.1. Market Size and Forecast
4.3.8. Graspers
4.3.8.1. Market Size and Forecast
4.3.9. Auxiliary instruments
4.3.9.1. Market Size and Forecast
4.3.9.2. Clamps
4.3.9.2.1. Market Size and Forecast
4.3.9.3. Cannulas
4.3.9.3.1. Market Size and Forecast
4.3.9.4. Closure Devices
4.3.9.4.1. Market Size and Forecast
4.3.10. Cutter Instruments
4.3.10.1. Market Size and Forecast
4.3.10.2. Trocars
4.3.10.2.1. Market Size and Forecast
4.3.10.3. Lancets
4.3.10.3.1. Market Size and Forecast
4.3.10.4. Scissors
4.3.10.4.1. Market Size and Forecast
4.3.11. Others
4.3.11.1. Market Size and Forecast
4.4. Electrosurgical Devices
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.4.4. Market analysis, by country

CHAPTER 5: SURGICAL EQUIPMENT MARKET, BY CATEGORY
5.1. Overview
5.1.1. Market size and forecast
5.2. Disposable surgical equipment
5.2.1. Market size and forecast by region
5.2.2. Market size and forecast by product
5.2.3. Market analysis, by country
5.3. Reusable surgical equipment
5.3.1. Market size and forecast
5.3.2. Market size and forecast by product
5.3.3. Market analysis, by country

CHAPTER 6: SURGICAL EQUIPMENT MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Neurosurgery
6.2.1. Market size and forecast
6.2.2. Market analysis, by country
6.3. Plastic & reconstructive surgeries
6.3.1. Market size and forecast
6.3.2. Market analysis, by country
6.4. Wound closure
6.4.1. Market size and forecast
6.4.2. Market analysis, by country
6.5. Urology
6.5.1. Market size and forecast
6.5.2. Market analysis, by country
6.6. Obstetrics and gynecology
6.6.1. Market size and forecast
6.6.2. Market analysis, by country
6.7. Thoracic surgery
6.7.1. Market size and forecast
6.7.2. Market analysis, by country
6.8. Microvascular
6.8.1. Market size and forecast
6.8.2. Market analysis, by country
6.9. Cardiovascular surgery
6.9.1. Market size and forecast
6.9.2. Market analysis, by country
6.10. Orthopedic surgery
6.10.1. Market size and forecast
6.10.2. Market analysis, by country
6.11. Laparoscopy
6.11.1. Market size and forecast
6.11.2. Market analysis, by country
6.12. Others
6.12.1. Market size and forecast
6.12.2. Market analysis, by country

CHAPTER 7: SURGICAL EQUIPMENT MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key trends and opportunities
7.2.2. North America market size and forecast, by country
7.2.2.1. U.S. market size and forecast, by product
7.2.2.2. U.S. market size and forecast, by category
7.2.2.3. U.S. market size and forecast, by application
7.2.2.4. Canada market size and forecast, by product
7.2.2.5. Canada market size and forecast, by category
7.2.2.6. Canada market size and forecast, by application
7.2.2.7. Mexico market size and forecast, by product
7.2.2.8. Mexico market size and forecast, by category
7.2.2.9. Mexico market size and forecast, by application
7.2.3. North America market size and forecast, by product
7.2.4. North America market size and forecast, by category
7.2.5. North America market size and forecast, by application
7.3. Europe
7.3.1. Key trends and opportunities
7.3.2. Europe market size and forecast, by country
7.3.2.1. UK market size and forecast, by product
7.3.2.2. UK market size and forecast, by category
7.3.2.3. UK market size and forecast, by application
7.3.2.4. Germany market size and forecast, by product
7.3.2.5. Germany market size and forecast, by category
7.3.2.6. Germany market size and forecast, by application
7.3.2.7. France market size and forecast, by product
7.3.2.8. France market size and forecast, by category
7.3.2.9. France market size and forecast, by application
7.3.2.10. Italy market size and forecast, by product
7.3.2.11. Italy market size and forecast, by category
7.3.2.12. Italy market size and forecast, by application
7.3.2.13. Spain market size and forecast, by product
7.3.2.14. Spain market size and forecast, by category
7.3.2.15. Spain market size and forecast, by application
7.3.2.16. Austria market size and forecast, by product
7.3.2.17. Austria market size and forecast, by category
7.3.2.18. Austria market size and forecast, by application
7.3.2.19. Switzerland market size and forecast, by product
7.3.2.20. Switzerland market size and forecast, by category
7.3.2.21. Switzerland market size and forecast, by application
7.3.2.22. Rest of Europe market size and forecast, by product
7.3.2.23. Rest of Europe market size and forecast, by category
7.3.2.24. Rest of Europe market size and forecast, by application
7.3.3. Europe market size and forecast, by product
7.3.4. Europe market size and forecast, by category
7.3.5. Europe market size and forecast, by application
7.4. Asia-Pacific
7.4.1. Key trends and opportunities
7.4.2. Asia-Pacific market size and forecast, by country
7.4.2.1. Japan market size and forecast, by product
7.4.2.2. Japan market size and forecast, by category
7.4.2.3. Japan market size and forecast, by application
7.4.2.4. China market size and forecast, by product
7.4.2.5. China market size and forecast, by category
7.4.2.6. China market size and forecast, by application
7.4.2.7. India market size and forecast, by product
7.4.2.8. India market size and forecast, by category
7.4.2.9. India market size and forecast, by application
7.4.2.10. Rest of Asia-Pacific market size and forecast, by product
7.4.2.11. Rest of Asia-Pacific market size and forecast, by category
7.4.2.12. Rest of Asia-Pacific market size and forecast, by application
7.4.3. Asia-Pacific market size and forecast, by product
7.4.4. Asia-Pacific market size and forecast, by category
7.4.5. Asia-Pacific market size and forecast, by application
7.5. LAMEA
7.5.1. Key trends and opportunities
7.5.2. LAMEA market size and forecast, by country
7.5.2.1. Latin America market size and forecast, by product
7.5.2.2. Latin America market size and forecast, by category
7.5.2.3. Latin America market size and forecast, by application
7.5.2.4. Middle East market size and forecast, by product
7.5.2.5. Middle East market size and forecast, by category
7.5.2.6. Middle East market size and forecast, by application
7.5.2.7. Africa market size and forecast, by product
7.5.2.8. Africa market size and forecast, by category
7.5.2.9. Africa market size and forecast, by application
7.5.3. LAMEA market size and forecast, by product
7.5.4. LAMEA market size and forecast, by category
7.5.5. LAMEA market size and forecast, by application

CHAPTER 8: COMPANY PROFILES
8.1. B. Braun Melsungen AG
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Business performance
8.1.6. Key strategic moves and developments
8.2. Boston Scientific Corporation
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. Conmed Corporation
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.3.6. Key strategic moves and developments
8.4. Entrhal Medical GmbH
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Product portfolio
8.5. Fuhrmann GmbH
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Product portfolio
8.6. Johnson & Johnson
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves and developments
8.7. KLS Martin Group
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Key strategic moves and developments
8.8. Medtronic Plc.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. Novartis International AG (Alcon Laboratories Inc.)
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments
8.10. Smith & Nephew Plc.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
8.10.6. Key strategic moves and developments
8.11. Stryker Corporation
8.11.1. Company overview
8.11.2. Company snapshot
8.11.3. Operating business segments
8.11.4. Product portfolio
8.11.5. Business performance
8.11.6. Key strategic moves and developments
8.12. Zimmer Biomet
8.12.1. Company overview
8.12.2. Company snapshot
8.12.3. Operating business segments
8.12.4. Product portfolio
8.12.5. Business performance
8.12.6. Key strategic moves and developments
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According to a new report titled, Surgical Equipment Market by Product, Category, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global surgical equipment market valued at $9,783.8 million in 2016, and is estimated to reach $15,737.1 million by 2023, at a CAGR of 7.0% during the forecast period. The surgical sutures & staplers segment accounted for two-fifths of the total market share in 2016.

Surgical equipment are tools that are designed to view internal body organs or modify biological tissues. They are used for various surgical procedures such as neurosurgery, urology, laparoscopic, plastic surgery, cardiovascular, and others. Surge in prevalence of chronic disorders among geriatric population, increase in number of surgical procedures, and increase in demand for surgical procedures such as minimally invasive surgeries and laparoscopic surgeries act as the major drivers of the global surgical equipment market. However, uncertainty in reimbursements and highly competitive environment regarding price of surgical equipment restrict the market growth.

The global surgical equipment market is segmented based on product, category application, and geography. Depending on product, the market is categorized into surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. The handheld surgical instruments segment accounted for the one-third of the total market share. Increasing demand for handheld surgical instrument is attributed to frequent incorporation of the same in various surgeries including cardiovascular surgeries, microvascular surgeries, and laparoscopic surgeries among others.

The applications covered in the study include neurosurgery, plastic & regenerative surgery, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, laparoscopy, and others. The laparoscopy surgery segment held the largest market share in 2016, accounting for one-fifths of the total market. However, plastic & reconstructive surgery is estimated to grow at the fastest pace during the forecast period, owing to rise in number of aesthetic/cosmetic surgical procedures across the globe.

Key Findings of the Surgical Equipment Market

The reusable surgical equipment segment dominated the global market in 2016 and is expected to maintain this trend throughout the forecast period.
Closure devices was the major contributor to the revenue of surgical auxiliary instruments in 2016 and is anticipated to maintain this trend throughout the forecast period.
Lancets/Scalpels registered highest growth in the surgical cutter instruments market during the forecast period.
Retractors is anticipated to grow at the fastest pace in the handheld surgical instruments market during the forecast period.
Europe accounted for one-third of total market share in 2016 and is expected to maintain this trend throughout the forecast period.
UK is anticipated to grow at the fastest pace in the European surgical equipment market during the forecast period.

Geographically, the surgical equipment market is studies across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the surgical equipment market in 2016, accounting for three-sevenths of the total market. This was attributed to well-established healthcare system in North America, high adoption of innovative minimal invasive & laparoscopic surgical procedures, rise in prevalence of chronic diseases & related surgical procedures, and surge in demand for plastic & reconstructive & bariatric surgeries.
Similarly, the growth of the surgical equipment market in the European region was attributed to increase in geriatric population and high demand for minimally invasive surgeries.

Moreover, significant investments on R&D in the medical sector and modernization of healthcare facilities have positively impacted the market. However, Asia-Pacific and LAMEA are expected to possess the maximum growth potential. The robust growth rate displayed by Asia-Pacific region in surgical equipment market is attributed to substantial increase in expenditure to improve healthcare infrastructure and surge in demand for improved healthcare services.

The major key players profiled in the global surgical equipment market include Medtronic Plc., Stryker Corporation, Johnsons & Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG and KLS Martin Group, Johnsons & Johnsons, and Smith & Nephew. Acquisition was the key strategy adopted by the leading players to expand their product offerings and gain a substantial share in the global market.

The other companies profiled in this report include Abbott Laboratories, Applied Medical Resources Corporation, Microline Surgicals, Inc. (Subsidiary of Hoya Corporation), Olympus Corporation, Karl Storz GmbH & Co. Kg, Cook Medical Incorporated, Aspen Surgical Products, Inc, Becton, Dickinson and Company, Intuitive Surgical, and Teleflex Incorporated.
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Note: Product cover images may vary from those shown
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