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

Global Surgical Equipment Market Insights Forecasts to 2030

• The Surgical Equipment Market Size was valued at USD 14.3 Billion in 2021.
• The Market is Growing at a CAGR of 8.9% from 2022 to 2030
• The Worldwide Surgical Equipment Market Size is expected to reach USD 30.67 Billion by 2030
• Asia Pacific is expected to Grow the fastest during the forecast period

The Global Surgical Equipment Market is expected to reach USD 30.67 Billion by 2030, at a CAGR of 8.9% during the forecast period 2022 to 2030.

Surgical equipment are medical tools which help in physical modification of biological tissue or providing access to the internal parts of a body. The use of modern electronic technologies like robotic and power assisted systems and invasive surgery equipment are driving the overall growth of the global surgical equipment market.

Impact of COVID 19 on Global Surgical Equipment Market

Surgical equipment sterilization plays an important role in the healthcare more than ever after the outbreak of COVID 19. In fact healthcare facilities to do the scrutiny for sterilization of surgical equipment in order to stop the spread of COVID 19 virus. When the COVID 19 has started to dominate many countries including India, US, Russia, and Brazil, healthcare facilities started to witness the pressure of containing the spready of COVID 19 through infected surgical equipment. Thus, companies which are involved in the surgical equipment market started to adopt precautionary measures to sterilize as well as clean the equipment before they are supplied to medical facilities. This is because medical systems which does not do proper on site equipment for sterilization can result in the increasing spread of the COVID 19 among people.

Key Driving Factors

Development of vaccines and strategic government initiatives to drive the market

Various ambulatory surgical centres were shut down due to the huge amount of losses faced by them during the pandemic. However, with the development of vaccines as well as rising focus by the governments on strategic plans for the outbreaks, the market was getting recovered. Furthermore, the backlogs which were created during the time of pandemic are now taken care by the healthcare facilities. Thus, the global surgical equipment market is anticipated to witness the significant growth over the forecast period.

Increasing geriatric people to propel the market

The rise in the number of elderly people is another important factor which is contributing towards the overall growth of the global surgical equipment market. People who aged 60 years or more are prone to developing disorders which are surgically treatable as compared to the younger people. As the Centers for Disease Control and Prevention, the number of hip replacement who are aged above 45 years was 3,10,800 in the year 2019.

Key Challenging Factors

The market of surgically equipment is fragmented. The market comprises of various small and medium sized companies which tend to compete with each other. Furthermore, increasing preference for affordable endosurgery instruments and the habit of using consumables instruments like pencils and forceps in doing repeated surgery in hospitals situated in rural area which affect the sales volume of surgical equipment which hampers the market.

Market Segmentation

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. The growth is attributed to increasing adoption of sutures and staplers due the rise in its use in wound closure procedure. The staplers segment is anticipated to witness the fastest growth owing toe benefits of staplers as compared to sutures which comprises rapid wound healing as well as low risk infection. Furthermore, the technological advancements and initiatives are driving the segmental growth over the forecast period.

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. The obstetrics and gynecology segment, on the other hand holds the second largest share due to the rise in the number of childbirths across the world and surge in female reproductive disorders has resulted into the rise in the number of gynecological surgeries. A report published in CDC states that in 2020, around 1148692 cesarian surgeries were done in the US.

Regional Insights

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

North America is dominating the market with the largest market share over the forecast period owing to huge healthcare expenditure and the strong presence of major players and high end hospitals in the US are driving the regional market growth. Apart from this, the increase in the demand for minimally invasive surgeries and technological advancements are expected to propel the segmental growth.

Asia Pacific, on the other hand, is witnessing the fastest market growth over the forecast period owing to the increasing disposable income in China and India is anticipated to propel of growth of reconstructive and plastic surgeries. In addition, the increasing geriatric population in the region is also anticipated to result in rise in the number of cardiovascular and orthopedic procedures.

Recent Market Developments

• In December 2020, Zimmer Biomet has made an announcement about the acquisition of A A&E Medical Corp.
• In March 2022, the British Deputy High Commission in Chennai launched the Freehand Robot which can be used in laparoscopic surgery.

List of Key Companies

• 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