The global surgical equipment market size is expected to reach around US$ 18.7 billion by 2030 from US$ 9.3 billion in 2021 and is expected to grow at an impressive double-digit rate of 7.5% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global surgical equipment market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
The global surgical equipment market is primarily driven by the growing prevalence of chronic diseases, growing geriatric population, and rising number of road accident cases across the globe. According to the Unite Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 ad this number is expected 2.1 billion by 2050. The old age people are prone to the chronic diseases and may boost the demand for various surgery treatments, thereby boosting the demand for the surgical equipment. Moreover, the increasing awareness regarding the non-invasive surgeries among the population is boosting the demand for the surgeries, which is boosting the growth of the global surgical equipment market. The rising awareness regarding the cost benefits associated with the early surgical intervention is also one of the important factors that drives the demand for the surgeries among the patients. The technological advancements in the surgery equipment and rising investments by the market players is expected to provide growth opportunities in the foreseeable future. The demand for the advanced and innovative surgical equipment is rising across the healthcare sector.
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North America dominated the global surgical equipment market in 2020. The increased prevalence of various chronic diseases among the population and rapidly growing geriatric population are the major drivers of the surgical equipment market in North America. Moreover, rising awareness regarding the benefits of minimally invasive surgeries has significantly driven the consumption of surgical equipment. Further, the presence of developed healthcare infrastructure in the region fosters the growth of the surgical equipment market. , the presence of strong and developed healthcare infrastructure in the region benefits the market owing to the increased penetration of hospitals, clinics, and ambulatory services. The increased disposable income and rising healthcare expenditure is further expected to drive the market in the forthcoming years.
Asia Pacific is estimated to be the most promising market during the forecast period. This is due to the rising prevalence of various chronic diseases among the population. Moreover, the increased number of road traffic accidents is boosting the growth of the surgical equipment market. According to the World Health Organization, around 93% of the global road accidents occur in low and middle income countries, and it is one of the major causes of death among the children and young adults. Further, the increased government investments in the development of the healthcare infrastructure in the region is a major driver of the surgical equipment market.
The lack of proper healthcare infrastructure and low affordability of the surgeries in the developing and underdeveloped nations is a major hindering factor. Around 90% of the people living in the low income countries can’t afford surgical treatment. This is a major factor that may hinder the market growth.
The technological advancements in the surgery equipment and rising investments by the market players is expected to provide growth opportunities in the foreseeable future. The demand for the advanced and innovative surgical equipment is rising across the healthcare sector.
Based on the product, the electrosurgical devices segment is estimated to be the most opportunistic segment during the forecast period. This can be attributed to the rising popularity of the minimally invasive surgeries among the population. The minimally-invasive surgeries offers quick healing and reduces the time of hospital stay for the patients. The technological advancements and development of various electrosurgical equipment is expected to rapidly boost the growth of this segment.
Based on the application, the obstetrics & gynecology segment dominated the global surgical equipment market in 2020, accounting for over 22% of the market share. The rising number of complications related o reproductive organs in female and complications related with pregnancy has fostered the growth of this segment. Moreover, the rising number of cesarean deliveries is also expected to boost the growth of this segment. The increasing penetration of private hospitals, clinics, and ambulatory units is further expected to drive the growth of the market during the forecast period.
Why should you invest in this report?
If you are aiming to enter the global surgical equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for surgical equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the prominent players in the global surgical equipment market include:
- B Braun Melsungen AG
- Conmed Corporation
- Cadence
- Stryker Corporation
- Olympus Corporation
- Ethicon, Inc.
- Micron Biomedical
- Alcon Laboratories
- Medtronic
- Aspen Surgical
Market Segmentation:
By Product
- Surgical Sutures & Staplers
- Handheld Surgical Device
- Electrosurgical Devices
By Application
- Neurosurgery
- Wound Care
- Obstetrics & Gynecology
- Cardiovascular
- Orthopedic
- Plastic & Reconstructive Surgery
- Others
Regional Analysis:
The geographical analysis of the global surgical equipment market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American Market is again segmented into the US, Canada, and Mexico. Coming to the European Market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global surgical equipment Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global surgical equipment market in 2030?
- What is the expected CAGR for the surgical equipment market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global surgical equipment market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Surgical Equipment Market
5.1. COVID-19 Landscape: Surgical Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Surgical Equipment Market, By Product
8.1. Surgical Equipment Market, by Product Type, 2021-2030
8.1.1. Surgical Sutures & Staplers
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Handheld Surgical Device
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Electrosurgical Devices
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Surgical Equipment Market, By Application
9.1. Surgical Equipment Market, by Application, 2021-2030
9.1.1. Neurosurgery
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Wound Care
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Obstetrics & Gynecology
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Cardiovascular
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Orthopedic
9.1.5.1. Market Revenue and Forecast (2019-2030)
9.1.6. Plastic & Reconstructive Surgery
9.1.6.1. Market Revenue and Forecast (2019-2030)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Surgical Equipment Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
Chapter 11. Company Profiles
11.1. B Braun Melsungen AG
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Conmed Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Cadence
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Stryker Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Olympus Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Ethicon, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Micron Biomedical
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Alcon Laboratories
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Medtronic
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Aspen Surgical
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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