Surgical Equipments and Instruments Market Size, Share, Growth and Industry Analysis by Type (Surgical Sutures and Staplers, Handheld Surgical Devices, Electrosurgical Devices, And, Others) By Application (Neurosurgery, Plastic and Reconstructive Surgery, Wound Closure Obstetrics and Gynecology, Cardiovascular, Orthopedic, And, Others) Regional Forecast To 2031

Updated On: 08 April 2024

Surgical Equipments and Instruments Market REPORT OVERVIEW

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The surgical equipment’s and instruments market size is anticipated to be worth USD 10.690 billion in 2022 and the market is projected to touch USD 15.193 billion by 2030 with a CAGR of 4.5% during the forecast period.

Surgical equipments and instruments are used in operation theatres to perform operation and surgeries. It is a tool that is designed to carry out and perform a particular task while conducting operations. Such tools are used to modify biological tissues and hey also help in providing access to view it. Scalpels, forceps, retractors and clamps are some of the best examples of surgical instruments.

Strict regulations regarding taking vaccination imposed by the government is an important development in the market. This is considered as the latest trend in the market. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

 The biggest development in the medical sector is increasing collaborations to develop single-handed surgical instruments. Small bite technology and illuminative technology are having a great impact on the market. All of these factors have contributed in the development of the surgical equipments and instruments market growth.

COVID-19 impact:  Increased Operations and Surgeries During the Pandemic Period Reduced Market Growth

The pandemic of COVID-19 not only created a lot of financial challenges but it also posed a health crisis globally. The death rates increased drastically during this period due to the increasing infections that spread from one person to another.

As a result, a lot of people were admitted into hospitals. This increased the number surgeries. This in turn had a positive impact on the surgical equipments and instruments market. Manufacturing increased rapidly as there was a great demand for this product in the health sector. Pandemic of COVID-19 provided a good growth opportunity to the market to amplify its growth.

LATEST TRENDS

"Introduction of Vaccines by Government to Increase Market Growth"

The pandemic of COVID-19 proved to be a major health issue and this required an immediate solution in order to avoid any further complication. Many vaccines were introduced during this time. Several countries competed against each other to release the vaccine first.  

Also, the government of different nations made it compulsory for people to get vaccinations to protect themselves from the disease. This increased the need for products like syringes.  Increasing population of people above the age of 60 is also another factor driving the market growth. Because people above the age of 60 are at a higher risk of undergoing surgeries due to a various health problem. The government regulations and guidance regarding taking vaccinations was an important development in the market.

Surgical Equipments and Instruments Market SEGMENTATIONS

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• By Type:

The market can be divided on the basis of type into the following segments.

Surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and, others.  The surgical sutures segment is expected to lead the market during the forecast period.

• By Application:

Classification based on application is as follows:

Neurosurgery, plastic and reconstructive surgery, wound closure obstetrics and gynecology, cardiovascular, orthopedic, and, others. The neurosurgery segment is the segment that is expected to lead the market during the forecast period.

DRIVING FACTORS

"Increasing Collaborations to Introduce Single-Handed Surgical Device to Increase Market Growth"

Recently there have been a lot of collaborations that are happening to introduce single-handed surgical devices. Single-handed surgical instruments are in high demand in the healthcare sector. This is propelling the market growth.

A single patient use precision suturing device is a newly introduced instrument in the market. These are used for closing the abdominal wall. Another unique feature of this instrument is that it facilitates small bites technique. A lot of key industry players in the market have entered into strategic agreements to implement the manufacturing of surgical suturing devices in healthcare facilities. This has brough about many new changes in the surgical instruments and equipments market.

"Integration of Small Bite Technique and Use of Illumination Technology to Amplify Market Growth"

Small bites technique is mainly used for closing the wall of the abdominal region. This technique is very useful in minimizing the risks post-surgery. Especially during incisional hernia this technique is used to improve the life expectancy of a patient.  

They also are reducing the cost to a great cost. Another such technology that has brought noticeable changes in the market is the illumination technology.  This is used in retractors to produce better surgical outcomes. All these unique features of the equipments have increased surgical equipments and instruments market share.

RESTRAINING FACTOR

"Infections that Can Be Caused Due to Unhygienic Surgical Tools to Decrease Market Growth"

Surgical instruments require to be cleaned very cautiously. They have to be sterilized in order to ensure the prevention of spreading any kind of infections. Using unsterilized and unhygienic surgical instruments and equipments can become the biggest risk for the market growth. 

Medical sites have to be supervised regularly to ensure proper sterilization. Health care facilities have already witnessed a low dip due to the surge of COVID-19. The necessity to constantly replace these instruments is another disadvantage. These are the factors restraining the market growth.

Surgical Equipments and Instruments Market Regional Insights

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"North America to Dominate Market During Forecast Period"

North America is the dominant share holder of the market. A lot of reasons have contributed to the development of market in North America. The presence of sophisticated medical infrastructures in the North American region has provided favorable growth opportunities for market development.

A lot of medical labs are also present in many countries in North America. It is the hub of several medical developments and innovations. All of these factors have helped the growth of the market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Zimmer Biomet Holdings, Inc. (U.S.)
• BD (U.S.)
• B.Braun Melsungen AG (Germany)
• Smith & Nephew plc (U.K.)
• Stryker Corporation (U.S.)
• Aspen Surgical Products, Inc. (U.S.)
• Ethicon, Inc. (U.S.)
• Medtronic (Ireland)
• Alcon Laboratories, Inc. (Switzerland)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. FAQs have also been given to outline the report.