Surgical Instrument Market Growth by 2030: Launch of Novel Products and Rise in the Number of Surgical Procedures

The global surgical instruments market is expected to reach USD 38.13 Billion in 2030 and register a revenue CAGR of 8.0% during the forecast period, according to the latest report published by Reports and Data. Key factors driving global surgical instruments market revenue growth include increasing prevalence of various chronic diseases such as cardiovascular diseases, cancer, neurological disorders, rising number of accidents and trauma emergencies, and improving healthcare facilities and infrastructure across the globe. 

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Surgical instruments are tools or devices used by skilled healthcare professionals for performing various tasks during surgical processes. These instruments are used for holding, cutting, retracting, clamping, or dilating biological tissue. Various surgical instruments are available for general surgery as well as for carrying out complex surgical procedures. Sutures, staplers, forces & spatulas, retractors, dilators, graspers are some of the commonly used instruments in hospitals and clinics. Factors such as increasing number of hospitals, clinics, ambulatory care centers across the globe, rising demand for minimally invasive surgical processes, and increasing adoption of robotic surgeries are expected to continue to drive market revenue growth during the forecast period. In addition, increasing healthcare expenditure, and increasing focus on developing compact, advanced, and cost-effective surgical instruments are expected to fuel market growth going ahead. 

However, factors such as unfavorable reimbursement schemes, stringent regulatory norms regarding product approval, and lack of skilled healthcare professionals in many hospitals and other healthcare centers are expected to hamper overall market growth to a certain extent during the forecast period.  

Some key highlights of the report:

    • Based on application, the plastic & reconstruction surgeries segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing cases of road accidents, rising focus on personal appearance and esthetics, increasing disposable income in developing countries, increasing number of surgeries such as chin and breast augmentation, breast reduction, and rising demand for advanced surgical instruments. 
    • Based on category, the reusable segment is expected to register fastest revenue CAGR during the forecast period owing to factors such as increasing prevalence of chronic illnesses and accidents, and high demand for advanced surgical instruments to cater to rising number of complex surgeries. In addition, availability of various instruments of plastics and polymers with better retention properties that can withstand heat and radiation for effective sterilization is expected to drive revenue growth of the segment during the forecast period. 
    • Europe is expected to register steady revenue growth between 2021 and 2028 owing to factors such as rising prevalence of chronic diseases, trauma injuries, presence of well-developed healthcare infrastructure, and high preference for minimally invasive surgery instruments. In addition, increasing investments in research and development activities, and rapid advancements in surgical devices and instruments are expected to fuel market growth during the forecast period. 
    • Asia Pacific market revenue is expected to expand at a CAGR of 8.2% during the forecast period. This can be attributed to rising cases of chronic illnesses, increasing number of road accidents, and surgeries, rising healthcare spending, and increasing demand for latest surgical instruments and devices. In addition, increasing investments in research and development activities to develop advanced and affordable surgical instruments is expected to fuel market growth in Asia Pacific during the forecast period.  

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Alcon Laboratories, Inc., Becton, Dickinson and Company, Medtronic, Plc, Boston Scientific Corporation, Abbott Laboratories, Inc., Progressive Medical, Inc., Scanlan International, Koninklijke Philips NV, Biolitec AG, and Johnson & Johnson

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Surgical Instrument Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2019–2030)

  • Surgical Sutures & Staplers
  • Handheld Surgical Devices
    • Forces & Spatulas
    • Refractors
    • Dilators
    • Graspers
    • Auxiliary Instrument
    • Cutter Instrument
  • Electrosurgical Devices

Application Outlook (Revenue, USD Billion; 2019–2030)

  • Neurosurgery
  • Obstetrics & Gynecology
  • Wound Closure
  • Cardiovascular
  • Plastic & Reconstructive Surgery
  • Orthopedic
  • Laparoscopy
  • Others

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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