Global Surgical Equipment Market Size, Share, and COVID-19 Impact Analysis By Product (Surgical Sutures and Staplers, Handheld Surgical Devices, Electrosurgical Devices), By End User (Hospitals, Ambulatory Surgical Centers, and Others), By Category (Reusable Surgical Equipment and Disposable Surgical Equipment), By Application (Neurosurgery, Plastic and Reconstructive Surgeries, Wound Closure, Urology, Obstetrics and Gynaecology, Thoracic Surgery, Microvascular Surgery, Cardiovascular Surgery, Orthopaedic Surgery, Laparoscopy, and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.Industry: Healthcare
Global Surgical Equipment Market Insights Forecasts to 2030
- The global surgical equipment market was valued at USD 8,435.2 million in 2021.
- The market is growing at a CAGR of 6.5% from 2021 to 2030
- The global surgical equipment market is expected to reach USD 14,867.6 million by 2030
- Asia- Pacific is expected to grow the fastest during the forecast period
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The global surgical equipment market is expected to reach USD 8,435.2 million by 2030, at a CAGR of 6.5% during the forecast period 2021 to 2030. The purpose of surgical equipment is to facilitate the performance of surgical procedures. Electrosurgical devices, hand tools, and closure devices are all types of equipment that fall under this category. During electrosurgical operations, such as tissue ablation, disposable electrosurgical devices, and electrosurgical accessories are utilized. Growing awareness among medical professionals about the advantages of surgical equipment would further generate maximum chances for the expansion of the business.
Surgical instruments are defined as tools or pieces of equipment that are utilized during surgical procedures to perform actions such as cutting, dissecting, grasping, retaining, dilating or expanding, suctioning, retracting, or suturing. Surgical instruments are also known as surgical implements. In a wide variety of processes and activities, these devices are indispensable. Most surgical tools are constructed of stainless steel. The pandemic caused by COVID-19 had a major and detrimental effect on the market. The number of surgical instruments sold on the market experienced a precipitous decline. The government's implementation of lockdowns and limitations ultimately resulted in significant disruptions to the supply chain. On the other hand, due to a shift in healthcare priorities and as a preventive step to control the spread of the virus, some surgeries and treatments were postponed. Because of this, there was a significant backlog in the number of surgical procedures that were conducted, which had a detrimental impact on the market. Due to the enormous amounts of money that they had to lose as a direct result of the epidemic, a number of ambulatory surgery facilities were forced to close their doors. In spite of this, the market has shown signs of improvement over the course of the previous year thanks to the development of vaccines and the greater attention paid by governments to the formulation of contingency plans for future outbreaks. Moreover, the backlogs that were created due to the pandemic are now being taken care of, and hence the market is further projected to grow at a significant rate over the forecast period.
Global Surgical Equipment Market Report Coverage
|Market Size in 2021:||USD 8,435.2 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||6.5%|
|2030 Value Projection:||14,867.6 Million|
|Historical Data for:||2017 - 2020|
|No. of Pages:||189|
|Tables, Charts & Figures:||171|
|Segments covered:||By Product, By End User, By Category, By Application, By Region|
|Companies Covered:||B. Braun Melsungen Ag, Smith & Nephew plc, Zimmer Biomet Holdings Inc., Stryker Corporation, Alcon Laboratories Inc., Aspen Surgical Products, Inc., Medtronic Inc., Ethicon Inc., Becton, Dickinson and Company|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for the global surgical equipment market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global surgical equipment market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global surgical equipment market market sub-segments.
- In 2021, the Obstetrics and Gynaecology segment dominated the market with the largest market share of 20% and market revenue of 1,687.04 million.
Based on the application, the surgical equipment market is categorized into Neurosurgery, Plastic and Reconstructive Surgeries, Wound Closure, Urology, Obstetrics and Gynaecology, Thoracic Surgery, Microvascular Surgery, Cardiovascular Surgery, Orthopaedic Surgery, Laparoscopy, and Others. In 2021, Obstetrics and Gynaecology dominated the market with the largest market share of 20% and market revenue of 1,687.04 million. This is due to the sudden rise in the prevalence of female reproductive organ disorders, which has resulted in an increase in the number of gynecological surgeries. Additionally, the growing number of childbirths across the globe contributed to this segment's revenue share.
- In 2021, the Electrosurgical Devices segment accounted for the largest share of the market, with 36% and a market revenue of 3,036 million.
Based on product, the surgical equipment market is categorized into Surgical Sutures and Staplers, Handheld Surgical Devices, and Electrosurgical Devices. In 2021, electrosurgical devices dominated the market with the largest market share of 36% and market revenue of 3,036 million. It is anticipated that the sector that deals in electrosurgical devices would have a considerable market share by product. There has been an increase in the number of surgical operations that utilize electrosurgical devices. These have been the primary contributors to the expansion of this market sector. Incising tissue, destroying tissue by desiccation, and controlling bleeding by producing the coagulation of blood are all procedures that can be accomplished with the use of electrosurgical devices. Cholecystectomy operations are the most common ones in which electrosurgical devices are utilized.
- In 2021, the Hospitals segment dominated the market with the largest market share of 39% and market revenue of 3,289.7 million
Based on the end user, the surgical equipment market is categorized as Hospitals, Ambulatory Surgical Centers, and Others. In 2021, the hospital’s segment dominated the market with the largest market share of 39% and market revenue of 3,289.7 million. Hospitals are the major place where surgeries are performed. This segment is anticipated to dominate the market due to the continuous growth in surgeries with rising diseases around the world.
Regional Segment Analysis of the Surgical Equipment Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global Surgical Equipment Market, with a market share of around 35.23% and 8,435.2 million of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global surgical equipment market, with a market share of around 35.23% and 8,435.2 million of the market revenue. The revenue share that came from North America was the highest in 2021. The expansion of the market in the region is being fueled by several factors, including high healthcare expenditures, the existence of well-established hospitals, and the presence of major players operating in the United States. In addition, developments in technology and an increase in the demand for operations that are minimally invasive are anticipated to be the primary drivers of the regional market throughout the forecast period.
- The Asia- Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. It is predicted that the Asia Pacific will become the regional market with the highest growth rate throughout the forecast period. It is anticipated that rising disposable income levels in countries such as India and China will contribute to the expansion of the plastic and reconstructive procedures sector, which will, in turn, contribute to the growth of the regional market. And the increasing proportion of elderly residents in the area would increase the total number of orthopedic and cardiovascular procedures performed.
The report offers the appropriate analysis of the key organizations/companies involved within the global surgical equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- B. Braun Melsungen Ag
- Smith & Nephew plc
- Zimmer Biomet Holdings Inc.
- Stryker Corporation
- Alcon Laboratories Inc.
- Aspen Surgical Products, Inc.
- Medtronic Inc.
- Ethicon Inc.
- Becton, Dickinson and Company
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In June 2022, Xenco Medical received authorization from the Food and Drug Administration of the United States and launched its Multilevel CerviKit. This allowed the company to increase the surgical device portfolio it offered to Ambulatory Surgical Centers. This one-time-use cervical spine technology includes a full set of implants and devices that only require one usage each. This technology may be used for 2, 3, and 4-level anterior cervical spine surgeries.
- In June 2022, The ECHELON 3000 Stapler was introduced to the market in the United States by Ethicon, a Johnson & Johnson MedTech division. It is a digitally enabled gadget that offers surgeons easy, one-handed powered articulation to assist them in catering to the specific requirements of their patients.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global surgical equipment market based on the below-mentioned segments:
Global Surgical Equipment Market Drug, By Product
- Surgical Sutures and Staplers
- Handheld Surgical Devices
- Electrosurgical Devices
Global Surgical Equipment Market, By End User
- Ambulatory Surgical Centers,
Global Surgical Equipment Market, By Category
- Reusable Surgical Equipment
- Disposable Surgical Equipment
Global Surgical Equipment Market, By Application
- Plastic and Reconstructive Surgeries
- Wound Closure
- Obstetrics and Gynaecology
- Thoracic Surgery
- Microvascular Surgery
- Cardiovascular Surgery
- Orthopaedic Surgery
Global Surgical Equipment Market, Regional Analysis
- North America
- The US
- Rest of Europe
- The Europe
- South Korea
- Rest of Europe
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Weather Forecasting Services market?As per Spherical Insights, the size of the Weather Forecasting Services market was valued at USD 8,435.2 million in 2021 to USD 14,867.6 million by 2030.
What is the market growth rate of the Weather Forecasting Services market?The Weather Forecasting Services market is growing at a CAGR of 6.5% from 2021 to 2030.
Which country dominates the Weather Forecasting Services market?North America emerged as the largest market for Weather Forecasting Services.
Who are the key players in the Weather Forecasting Services market?Key players in the Weather Forecasting Services market are B. Braun Melsungen Ag, Smith & Nephew plc, Zimmer Biomet Holdings Inc., Stryker Corporation, Alcon Laboratories Inc., Aspen Surgical Products, Inc., Medtronic Inc., Ethicon Inc., Becton, and Dickinson and Company.
Which factor drives the growth of the Weather Forecasting Services market?The increasing prevalence of chronic disorders is expected to drive the market’s growth over the forecast period.
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