Global Surgical Equipment Market Size To Worth USD $ 30.67 Billion by 2030 | CAGR of 8.9%

Global Surgical Equipment Market worth $ 30.67 Billion by 2030

According to a research report published by Spherical Insights & Consulting, the Global Surgical Equipment Market Size to grow from USD 14.3 Billion in 2021 to USD 30.67 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period.

Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Surgical Equipment Market Size, Share, and COVID-19 Impact Analysis By Product (Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices), By Application (neurosurgery, wound closure, plastic and reconstructive surgery, obstetrics and gynecology, orthopedic, cardiovascular, and others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/surgical-equipment-market

Medical tools known as surgical equipment are used to physically alter biological tissue or to gain access to a body's internal organs. The development of the worldwide surgical equipment market is being driven by the employment of contemporary electronic technologies like robotic and power aided systems and invasive surgical equipment.

COVID 19 Impact

Since the COVID 19 outbreak, sterilisation of surgical equipment has become more crucial than ever. In order to avoid the COVID 19 virus from spreading, medical facilities must inspect surgical equipment for sterilisation. Healthcare facilities started to feel the strain of containing the spread of COVID 19 through contaminated surgical equipment as soon as it started to dominate numerous nations, including India, the US, Russia, and Brazil. As a result, businesses in the surgical equipment sector began to take precautions by sterilising and cleaning the equipment before supplying it to medical facilities.

Due to the significant losses they sustained during the epidemic, many ambulatory surgical centres were closed. The market was beginning to recover, though, as a result of the development of vaccinations as well as the increased focus by the governments on outbreak prevention strategies. Additionally, healthcare facilities are now handling the backlogs that emerged during the outbreak. Thus, during the course of the projected period, it is anticipated that the global market for surgical equipment would experience significant expansion.

Another significant element driving the worldwide surgical equipment market's overall expansion is the increase in the population of old individuals. Compared to younger people, people 60 years or older are more likely to acquire problems that can be surgically treated. According to the Centres for Disease Control and Prevention, there were 3,10,800 hip replacements performed on patients over 45 in 2019.

The surgical equipment market is splintered. The market is made up of a variety of small and medium-sized businesses that frequently compete with one another. Additionally, the industry is hampered by consumers' growing demand for low-cost endosurgery tools and the practise of using consumable instruments like pencils and forceps while performing repeated surgeries in rural institutions.

Product Insights

The surgical sutures and staplers segment holds the highest market share over the forecast period

On the basis of product, the global surgical equipment market is segmented into Surgical Sutures and Staplers, Handheld Surgical Devices, Electrosurgical Devices. Among these, the surgical sutures and staplers segment is dominating the market with the largest market share over the forecast period. Sutures and staplers are increasingly being used in wound closure procedures, which is what is being blamed for the growth. Due to the advantages of staplers over sutures, which include quick wound healing and little risk of infection, this market is predicted to develop at the quickest rate. Furthermore, segmental growth over the foreseeable period is being driven by technology improvements and efforts.

Application Insights

The others segment holds the largest revenue share over the forecast period

Based on the application, the global surgical equipment market is segmented into neurosurgery, wound closure, plastic and reconstructive surgery, obstetrics and gynecology, orthopedic, cardiovascular, and others. Among these, the others segment holds the largest revenue share over the forecast period. Contrarily, the obstetrics and gynaecology segment has the second-largest share due to the increase in childbirths globally and the growth in female reproductive diseases, which has led to an increase in gynaecological surgeries. According to a report in the CDC, there were around 1148692 cesarian operations performed in the US in 2020.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

Due to high healthcare costs, a strong presence of major competitors, and high-end hospitals in the US, North America will continue to dominate the market with the biggest market share over the projection period. In addition, the segmental expansion is anticipated to be fueled by the rise in demand for minimally invasive procedures and technology improvements.

Contrarily, Asia Pacific is expected to have the fastest market growth throughout the projection period due to rising disposable income in China and India, which is expected to drive up demand for reconstructive and cosmetic procedures. Additionally, it is projected that the region's growing senior population would lead to an increase in the number of orthopaedic and cardiovascular surgeries.

Major vendors in the Global Surgical Equipment Market are B. BRAUN MELSUNGEN AG, BOSTON SCIENTIFIC CORPORATION, CONMED CORPORATION, COUSIN-BIOTECH, ENTRHAL MEDICAL GMBH, .FUHRMANN GmbH, INTEGRA LIFE SCIENCES HOLDINGS CORPORATION, JOHNSON & JOHNSON, KLS MARTIN GROUP, MEDTRONIC PLC, NOVARTIS INTERNATIONAL AG, PETERS SURGICAL SASU, SMITH & NEPHEW PLC.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Surgical Equipment Market based on the below-mentioned segments:

Surgical Equipment Market, Product Analysis

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

Surgical Equipment Market, Application Analysis

• Neurosurgery
• Wound closure
• Plastic and Reconstructive Surgery
• Cardiovascular
• Obstetrics & Genecology
• Others

Surgical Equipment Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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