The Global Surgical Equipment Market Size to Expand at a Steady 4% CAGR by 2030

Surgical Sutures and Staples to Capture Major Demand Pie in the Global Surgical Equipment Market

In a recent market study, Fact.MR covers recent developments in the global surgical equipment market, highlighting vital aspects such as trends, drivers, opportunities, and restraints. The report studies recent developments in the segments of the market in terms of product, electrosurgical devices, application, end user and region.

Fact.MR – A Market Research and Competitive Intelligence Provider: The surgical equipment market is constantly seeing a wide range of growth and it is backed by higher inclination towards minimally invasive procedures. Rising incidence of chronic ailments and cases of accidents are creating growth prospects for the market. The global surgical equipment market size is expected to expand at a steady market size of 4% CAGR by 2030.

In the past years, health care industry advanced in equipment to provide treatment in ease by conducting minimally invasive procedures. This will make the market value of surgical equipment to go high. Research & development activities conducted in the past years have enabled surgeons to leverage their capabilities to offer improved precision in complex surgeries.

While the market may have fallen a bit with ongoing COVID-19 pandemic, growth will recover as market players focuses only on automation. While surgical automation is expected to be data-driven or intelligent, surging R&D initiatives will ensure improvement in clinical outcome over the course of time.

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The global surgical equipment market covers handheld instruments, surgical sutures & staples, and electrosurgical devices based on the product. Among these surgical sutures & staples are widely used ones across the healthcare sector.

These are some of the most well-known brands in the medical equipment industry, and they aggressively promote their labels through a variety of marketing initiatives. These businesses have been launching sophisticated cutting staplers in recent years, as well as offering price reductions.

Surgical equipment market players’ efforts to strengthen their footprints will offer the segment, and thus the overall market, a considerable boost.

“With increasing number of players focusing on research & development, launch of novel technologies is on the cards. This will also help the market recover its pace of growth once the COVID-19 crisis passes,” says a Fact.MR analyst.

Key Takeaways:

• With some of the most prominent names in the industry such as Ethicon, Inc., B. Braun Melsungen AG, and Covidien plc into the manufacturing of surgical sutures & staples, the segment is likely to be at top in the health care industry.
• Vendors in the surgical equipment sector are dispersed. Established players compete against small and medium-sized businesses.
• The market’s sales potential is expected to grow as the use of robotic surgery becomes more common. Growth will be fuelled by increased investments in innovative procedures in hospitals and healthcare centres.
• Hospitals are predicted to have the largest share of the surgical equipment market among end users.
• North America is projected to dominate the region. Europe will overtake the United States as the second-largest market for surgical equipment.

Growth drivers:

• With more companies focusing on research & development, a plethora of developments are in line. While the market is continuing to grow high, demand is also expected to rise high in the course of time. The adoption of modern technologies such as robotics and automation to ensure better accuracy and precision during surgeries will provide a positive growth to the market.
• Hospitals have greater spending power. As hospitals offers state-of-the-art medical facilities and improved patient care, investments towards advanced surgical equipment are expected to grow higher in the market.

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Competitive Landscape:

Companies operating in the top tier are showing compelling competition to emerging players. Since smaller companies are in lack of technical expertise and capital to invest in state-of-the-art technologies, their entrenched counterparts enjoy a visible advantage.

Consequently, established companies account for the lion’s share of the market. Overall, players are likely to focus on research & development initiatives to keep up with the real-world changes. They are also investing in facilities to better accommodate advanced equipment such as surgical robots and intricate cameras.

Key Players in the Surgical Equipment Market Include:

• Ethicon, Inc.,
• B. Braun Melsungen AG
• Covidien plc

More Valuable Insights on Surgical Equipment Market:

Fact.MR provides an unbiased analysis of the surgical equipment market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global surgical equipment market with a detailed segmentation on the basis of:

Product

• Surgical Sutures & Staples
• Surgical Handheld Instruments
  • Grasping Instruments
  • Retractors and Dilators
  • Cutting Instruments
  • Others

Electrosurgical Devices

• Generators
• Consumables

Application

• Ophthalmology
• Gynecology
• General Surgery
• Bariatric Surgery
• Plastic Surgery
• Others

End User

• Hospitals
• Ambulatory Surgical Centers
• Clinics

Region

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

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Source: Fact.MR