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Report: Global Surgical Equipment Market Approaches $60 Million

The “Surgical Equipment Market by Product, Category, and Application: Global Opportunity Analysis and Industry Forecast, 2020 – 2030” report has been added to ResearchAndMarkets.com’s offering.

At an estimated value of over $31.65 billion in 2019, the Global Surgical Equipment Market is predicted to thrive at a CAGR of 5.8% and valued at over $58.85 billion over the forecast year 2020-2030.

Surgical Equipment are specially designed tools that help health care specialists to carry out specific actions during an operation. Such equipment enables healthcare professionals access the internal human organs and modify biological tissues. Various types of surgical equipment include hand instruments, electrosurgical devices, and closure devices. Such equipment’s are used in various surgeries, such as hip & knee replacement, cesarean deliveries, gall bladder removal, hernia repair, and urology ailments.

Market Dynamics and Trends

Emergence of modern electronic technologies including robotic & power assisted systems and minimally invasive surgery equipment primarily drives the growth of the surgical equipment market size. In addition to this, the factors such as increased preference for robotic surgery, computer assisted surgery, along with the upsurge in geriatric population, which is vulnerable to ocular disorders, intestinal disorders, gastric disorders, and other health conditions drive the growth of the surgical equipment market. In addition, increasing surgical volumes across the globe is expected to fuel the market growth during the forecast period. However, incidences of improper sterilization of reusable equipment and the absence of positive regulatory framework in developing economies limits the market growth. On the contrary, emerging R&D in the field of surgical equipment is expected to generate lucrative opportunities for the market growth during the forecast period.

Market Segmentations and Scope of the Study

The global surgical equipment market share is segmented on the basis of product, category, application, and geography. On the basis of product, the market is segmented into surgical sutures & staplers, electrosurgical devices, handheld surgical instruments, and others. According to the category, the market is categorized into reusable surgical equipment and disposable surgical equipment. As per the application, the market is segmented into neurosurgery, plastic & reconstructive surgeries, urology, obstetrics & gynecology, wound closure, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, ophthalmic application, laparoscopy, veterinary application, dental application, and others. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.

Geographical Analysis

In terms of geography, North America held major share of the market in 2019. This is attributed to factors such as emergence of new technologies, promising regulatory framework, mounting ageing population, and high disposable income of the consumers. However, Asia Pacific is expected to grow rapidly with increasing market size due to the surge in demands for enhanced surgical procedures and healthcare services; and significant expenditures on the improvement of healthcare infrastructure in the region.

For more information about this report visit www.researchandmarkets.com/r/du76gl.

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