Surgical Equipment Market Size is projected to reach USD 31.77 Billion by 2030, growing at a CAGR of 9.31%: Straits Research

The Global Surgical Equipment Market was valued at USD 14.26 billion in 2021 and is predicted to reach at USD 31.77 billion by 2030, increasing at a CAGR of 9.31% from 2022 to 2030. North America's revenue share in 2021 was over 35%. High healthcare expenditures, well-established hospitals, and significant U.S. corporations are fueling the region's market growth.

 | Source: Straits Research Straits Research

New York, United States, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Surgical equipment is used to modify biological tissue or access internal organs. Minimally invasive surgery equipment, robotic and power-assisted systems are driving the growth of the surgical equipment market.

Surgical equipment is made through substantial research and development to aid in surgical procedures. With this device, doctors can access and alter inside organs and tissues. Surgical equipment includes hand instruments, electrosurgical devices, and closure devices. These devices are used in hip or knee replacement, caesarean section delivery, gall bladder removal, hernia repair, and urological disorders.

Robotic surgery and the senior population are both vulnerable to eye, stomach, and intestine disorders. Robot-assisted surgery improves surgeons' control, access, and precision during minimally invasive treatments. Instead, surgical equipment R&D should create new prospects.


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Global Surgical Equipment Market: Drivers

  • Chronic Disease Incidence and Elderly Population Are Rising

Increasing chronic sickness, an ageing global population, and road traffic accidents drive the global market for surgical instruments and equipment. In 2019, the world has 703 million 65-plus residents. Due to the prevalence of chronic diseases like cancer, arthritis, and cardiovascular disease, this population is undergoing more treatments. Older people account for more than 40% of inpatient treatments and 33% of outpatient surgeries, according to the AARP. Ageing population and chronic disease rise will fuel market growth in the next years.

As individuals learn more about minimally invasive procedures, the surgical equipment industry will grow quicker. Patients are more aware of the financial benefits of early surgery, which is driving up demand.

  • Government Spending Expected to Stimulate Market

Government investments in healthcare infrastructure and FDI regulations in emerging countries are expanding surgical equipment. Sports injuries, car accidents, and heart surgeries drive demand for surgical equipment. In 2019, cardiovascular diseases caused 32% of global deaths, according to the WHO. Since cardiovascular illness is rising, the worldwide surgical equipment market may grow. Orthopedic Journal of Sports Medicine says Chinese athletes are more injured than Americans. Sports injuries are increasing the need for surgical equipment. Future growth is expected from surgery equipment advances and industrial investments. Health care providers want advanced surgical equipment.


Global Surgical Equipment Market: Key Future Opportunities

  • Surgical Staples and Sutures Needed More Often

Growing demand for surgical sutures and staples generates revenue potential for medical technology and OEMs. Leading companies employ competitive pricing and cutting-edge technologies to market items. Hospitals increasingly employ portable tools. New retractors and dilators have increased surgical equipment sector revenue.

The worldwide surgical equipment industry may also profit from better imaging products. Ocutrx Vision Technologies, LLC, a manufacturer of augmented-extended reality glasses for surgical operations, unveiled Ocutrx OR-Bot Surgery Visualization Theatre at the American Society of Cataract and Refractive Surgery annual meeting in May 2020.


Report Scope

Report MetricDetails
Market SizeUSD 31.77 Billion by 2030
CAGR9.31% (2022-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product, Application, Region
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsStryker Corporation, Alcon Laboratories Inc., Smith & Nephew plc, Zimmer Biomet, Holdings Inc., Ethicon Inc., COVIDIEN, KARL STORZ & Co., Becton, Dickinson and Company, Braun Melsungen Ag, Medtronic Inc., Aspen Surgical Products, Inc., Integra LifeSciences Corporation, CONMED Corporation, MEDICON, Synergetics USA, Inc.
Key Market OpportunitiesIncreasing Need for Surgical Staples and Sutures in A Variety of Surgical Procedures
Key Market DriversChronic Illness Incidence Is on The Rise, As Is the Number of Elderly People
Increasing Government Spending Is Expected to Stimulate the Market

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Regional Overview of Global Surgical Equipment Market

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Global Surgical Equipment Market.

North America's revenue share in 2021 was over 35%. High healthcare expenditures, well-established hospitals, and significant U.S. corporations are fueling the region's market growth. During the forecast period, technological advances and the need for minimally invasive procedures are expected to drive the regional market.

Asia Pacific is expected to expand the fastest during the forecast period. Rising disposable income in India and China is expected to boost the plastic and reconstructive treatments segment, boosting the regional market. Increasing senior population is expected to boost orthopedic and cardiovascular operations.

Despite the COVID-19 pandemic's detrimental impact on Asian economies in 2020 and 2021, the market had begun to recover by the second year. The pandemic has caused backlogs and delayed treatments. As a result, this region needs more surgical equipment.


Key Highlights

  • The Global Surgical Equipment Market was valued at USD 14.26 billion in 2021 and is predicted to reach at USD 31.77 billion by 2030, increasing at a CAGR of 9.31% from 2022 to 2030.
  • By Product, the Global Surgical Equipment Market is segmented into Surgical Sutures & Staplers, Handheld Surgical Devices, and Electrosurgical Devices. More than 42% of market revenue in 2021 was generated by the Surgical Sutures and Staplers category.
  • By Application, the Global Surgical Equipment Market is segmented into Neurosurgery, Plastic & Reconstructive Surgery, Wound Closure, Obstetrics & Gynecology, Cardiovascular, Orthopedic, and Others. In the year 2021, the others sector accounted for almost 30% of total income.
  • By Region, the Global Surgical Equipment Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America had a revenue share of more than 37%.


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List of Major Competitor Companies in the Surgical Equipment Market across the Globe are

  • Stryker Corporation
  • Alcon Laboratories Inc.
  • Smith & Nephew plc
  • Zimmer Biomet Holdings Inc.
  • Ethicon Inc.
  • COVIDIEN
  • KARL STORZ & Co.
  • Becton, Dickinson and Company
  • B. Braun Melsungen Ag
  • Medtronic Inc.
  • Aspen Surgical Products, Inc.
  • Integra LifeSciences Corporation
  • CONMED Corporation
  • MEDICON
  • Synergetics USA, Inc.


Global Surgical Equipment Market: Segmentation

By Product

  • Surgical Sutures & Staplers
  • Handheld Surgical Devices
  • Electrosurgical Devices

By Application

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

By Geography

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Latin America
  • Middle East and Africa (MEA)


Table of Content

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis:  Surgical Equipment Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Marine, Aviation, & Transport (MAT)
      1. Market Size & Forecast
    3. Political Risk & Credit Insurance
      1. Market Size & Forecast
  5. Distribution Channel Overview
    1. Introduction
      1. Market Size & Forecast
    2. Brokers
      1. Market Size & Forecast
    3. Non-Brokers
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Type
        2. By Distribution Channel
      3. Canada
        1. By Type
        2. By Distribution Channel
      4. Mexico
        1. By Type
        2. By Distribution Channel
      5. Latin America
        1. By Type
        2. By Distribution Channel
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Distribution Channel
      3. France
        1. By Type
        2. By Distribution Channel
      4. U.K.
        1. By Type
        2. By Distribution Channel
      5. Italy
        1. By Type
        2. By Distribution Channel
      6. Spain
        1. By Type
        2. By Distribution Channel
      7. Rest of Europe
        1. By Type
        2. By Distribution Channel
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Distribution Channel
      3. China
        1. By Type
        2. By Distribution Channel
      4. Australia
        1. By Type
        2. By Distribution Channel
      5. India
        1. By Type
        2. By Distribution Channel
      6. South Korea
        1. By Type
        2. By Distribution Channel
      7. Rest of Asia-Pacific
        1. By Type
        2. By Distribution Channel
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Distribution Channel
      3. South Africa
        1. By Type
        2. By Distribution Channel
      4. Kuwait
        1. By Type
        2. By Distribution Channel
      5. Rest of Middle East & Africa
        1. By Type
        2. By Distribution Channel
  7. Company Profile
    1. AXA
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. American International Group Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Allianz
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/surgical-equipment-market/toc


Recent Developments

  • May 2022 - Zimmer Biomet Holdings, Inc. launched new AI capabilities within Omni™ Suite, an intelligent OR designed to increase surgical workflow and procedural efficiency by automating manual operations and reducing superfluous technology and redundant hardware. The new AI function automatically recognises and timestamps important OR workflow milestones, including patient arrival and exit, door count, anaesthetic start and stop, surgery, and cleaning. Surgical teams are directed by real-time workflow indicators to optimise OR workflow.
  • May 2022 - Alcon, a leader in eye care who is committed to enabling people to see clearly, has announced that it has reached an agreement to purchase Kala Pharmaceuticals, Inc.'s EYSUVIS® (loteprednol etabonate solution) 0.25 percent pharmaceutical eye drops. The purchase will enhance Alcon's current offering in the sizable and quickly expanding dry eye segment.


News Media

Top 10 Medical Device Companies in the World

Aesthetic Medicine Market to Thrive at an Astonishing Healthy CAGR During Forecast Period


Have a Look at the Related Research Report

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Surgical Retractors Market: Information by Type (Handheld, Self-Retaining), Product (Abdominal, Finger), Application (Neurosurgery), End-User (Hospitals), and Region — Forecast till 2030

Rehabilitation Equipment Market: Information by Product (Daily Living Aids, Exercise Equipment), Application (Physiotherapy, Occupational Therapy), End-User), and Region — Forecast till 2030

Fluid Dispensing Equipment Market: Information by Product (Flux, Lubricant), Types (Manual System, Automated Robotics System), and Region — Forecast till 2030


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Mot-clé

Surgical Equipment Market Surgical Equipment Market Size Robotic surgical equipment surgical procedure Medical Device health

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