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Global Surgical Equipment Market Report and Forecast 2024-2032

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  • 140 Pages
  • April 2024
  • Region: Global
  • Expert Market Research
  • ID: 5797988

Global Surgical Equipment Market Overview

The global surgical equipment market was valued at USD 24.20 billion in 2023, growing at a compound annual growth rate (CAGR) of 7.09% during the forecast period and expected to attain a value of USD 44.80 billion by 2032. Surgical equipment are medical devices that are used to perform various surgical procedures such as cutting, coagulating, dissecting, suturing, stapling, and closing wounds. The surgical equipment market comprises of different types of products such as surgical sutures and staplers, handheld surgical devices, electrosurgical devices, surgical navigation systems, surgical robotics, and surgical lasers.

The major factors driving the growth of the global surgical equipment market are the increasing number of surgical procedures, the rising prevalence of chronic diseases, the growing demand for minimally invasive surgery, the technological advancements in surgical devices, and the favorable reimbursement policies for surgical procedures. However, the market growth may be hindered by the high cost of surgical equipment, the stringent regulatory environment, the lack of skilled professionals, and the risks of infections and complications associated with surgical procedures.

Global Surgical Equipment Market Drivers and Constraints

Key Drivers

  • Rising Surgical Procedures: An increase in surgical procedures globally, driven by the growing prevalence of chronic diseases such as obesity, diabetes, cardiovascular diseases, and cancers, significantly fuels the demand for surgical equipment.
  • Technological Advancements: Innovations in surgical equipment, including minimally invasive surgical instruments, robotic surgery systems, and laser technologies, have enhanced the efficiency and outcomes of surgical procedures, driving market growth.
  • Aging Population: The global increase in the aging population, which is more prone to various diseases requiring surgical interventions, has been a critical driver of the surgical equipment market.
  • Healthcare Infrastructure Development: Expanding healthcare infrastructure, especially in emerging economies, and increasing healthcare expenditure have contributed to the growth of the surgical equipment market.
  • Demand for Minimally Invasive Surgeries (MIS): The rising preference for MIS due to benefits such as smaller incisions, reduced pain, quicker recovery, and shorter hospital stays has spurred the demand for advanced surgical equipment tailored for these procedures.

Key Constraints

  • High Cost of Advanced Surgical Equipment: The high cost associated with the procurement and maintenance of advanced surgical equipment, especially robotic systems and laser instruments, can limit market growth, particularly in cost-sensitive markets.
  • Regulatory and Reimbursement Issues: Stringent regulatory approval processes for surgical equipment and challenges in obtaining reimbursement, especially for new and innovative technologies, can hinder market expansion.
  • Lack of Skilled Professionals: The shortage of trained healthcare professionals and surgeons to operate advanced surgical equipment, particularly in low- and middle-income countries, poses a significant challenge to the market's growth.
  • Infection Control and Safety Concerns: Issues related to infection control and the safety of surgical procedures can restrain the use of certain surgical equipment, impacting market growth. The need for stringent sterilization processes and concerns over the reuse of instruments are notable factors.

Global Surgical Equipment Market Trends and Developments

The global surgical equipment market is witnessing several trends and developments that are shaping its future outlook. Some of the key trends and developments are:

Smart surgical devices: Integrated with AI, sensors, and data analytics to enhance accuracy, efficiency, and safety of surgical procedures.

  • 3D printing technology: Used to create customized surgical implants, instruments, and models to reduce cost, waste, and time of surgery.
  • Surgical robots: Can perform complex and delicate surgeries with precision, flexibility, and dexterity.
  • Single-use surgical devices: Can prevent the risk of cross-contamination, infection, and reuse.
  • Novel surgical techniques: Minimize trauma, pain, and scarring of patients.

Global Surgical Equipment Market Segmentation

The global surgical equipment market can be segmented based on product, category, application, end-user and region.

Market Breakup by Product

  • Surgical Sutures and Staplers
  • Handheld Surgical Equipment
  • Electrosurgical Devices
  • Other Surgical Equipment

Market Breakup by Category

  • Reusable Surgical Equipment
  • Disposable Surgical Equipment

Market Breakup by Application

  • Neurosurgery
  • Plastic and Reconstructive Surgeries
  • Wound Closure
  • Urology
  • Obstetrics and Gynaecology
  • Thoracic Surgery
  • Microvascular Surgery
  • Cardiovascular Surgery
  • Orthopedic Surgery
  • Laparoscopy
  • Other Applications

Market Breakup by End User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Surgical Equipment Market Competitive Landscape

The global surgical equipment market is highly competitive and fragmented, with the presence of several local and global players. The key players in the market are focusing on product innovation, mergers and acquisitions, partnerships and collaborations, and geographic expansion to gain a competitive edge in the market. Some of the major players in the market are B. Braun SE, Aspen Surgical, Medtronic, Ethicon Inc., Smith+Nephew, S Zimmer Biomet, Stryker (U.S.), Alcon Vision LLC, Becton, Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Entrhal Medical GmbH, Fuhrmann GmbH, KLS Martin Group, KARL STORZ, Olympus Corporation, Integra LifeSciences and Getinge AB.

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Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Surgical Equipment Market Overview
3.1 Global Surgical Equipment Market Historical Value (2017-2023)
3.2 Global Surgical Equipment Market Forecast Value (2024-2032)
4 Global Surgical Equipment Market Landscape
4.1 Global Surgical Equipment Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Surgical Equipment Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Category
4.2.3 Analysis by Applications
4.2.4 Analysis by End User
5 Global Surgical Equipment Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Surgical Equipment Market Segmentation
6.1 Global Surgical Equipment Market by Product
6.1.1 Market Overview
6.1.2 Surgical Sutures and Staplers Surgical Sutures Surgical Staplers
6.1.3 Handheld Surgical Equipment Forceps and Spatulas Retractors Dilators Graspers Auxiliary Instruments Clamps Cannulas Cutter Instruments Trocars Lancets Scissors Ligating Clips Others
6.1.4 Electrosurgical Devices
6.1.5 Others
6.2 Global Surgical Equipment Market by Category
6.2.1 Market Overview
6.2.2 Reusable Surgical Equipment
6.2.3 Disposable Surgical Equipment
6.3 Global Surgical Equipment Market by Application
6.3.1 Market Overview
6.3.2 Neurosurgery
6.3.3 Plastic and Reconstructive Surgeries
6.3.4 Wound Closure
6.3.5 Urology
6.3.6 Obstetrics and Gynecology
6.3.7 Thoracic Surgery
6.3.8 Microvascular
6.3.9 Cardiovascular Surgery
6.3.10 Orthopaedic Surgery
6.3.11 Laparoscopy
6.3.12 Ophthalmic application
6.3.13 Veterinary application
6.3.14 Dental application
6.3.15 Others
6.4 Global Surgical Equipment Market by End User
6.4.1 Market Overview
6.4.2 Hospitals & Clinics
6.4.3 Ambulatory Surgical Centres
6.4.4 Others
6.5 Global Surgical Equipment Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Surgical Equipment Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Surgical Equipment Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Surgical Equipment Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.6 Australia
9.7 Others
10 Latin America Surgical Equipment Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Surgical Equipment Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.5 Others
17 Supplier Landscape
17.1 B. Braun Melsungen AG
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 CONMED Corporation
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Cadence Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Olympus Corporation
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Stryker
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Medtronic
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Boston Scientific Corporation
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Zimmer Biomet
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Aspen Surgical Products, Inc.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Becton, Dickinson and Company
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Ethicon, Inc.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Smith+Nephew
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Surgical Equipment Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.

Companies Mentioned

  • B. Braun Melsungen AG
  • CONMED Corporation
  • Cadence Inc.
  • Olympus Corporation
  • Stryker
  • Medtronic
  • Boston Scientific Corporation
  • Zimmer Biomet
  • Aspen Surgical Products Inc.
  • Becton, Dickinson and Company
  • Ethicon Inc.
  • Smith+Nephew