Global Surgical Equipment Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Surgical equipment is a designed tool or device used for performing various functions during surgery such as cutting, coagulating, dissecting, grasping, tissue unifying and among others. Increase in rate of chronic diseases such as cardiac abnormalities which include diabetics, obesity, less physical activities, and among others have given rise to more surgeries leading in development of surgical equipment market growth. For instance, in 2017, 8.8 percent of global adult population suffered from diabetics and by 2026 it is expected to rise almost 10 percent more. Therefore, increase in the diabetic rate across the world will majorly give rise to the number of cardiac surgeries, which further will increase the use of surgical equipment. These equipment have applications in various branches of medicine such as neurology, cardiology, and orthopedics among others. In addition to this, the plastic and reconstructive surgeries, dermatology, gynecology, dentistry fields are anticipated to witness rapid market growth. Furthermore, introduction of non-invasive aesthetic surgeries, maxillofacial surgeries, orthopedic replacement surgeries, and among others are done with minimal invasive methods which help in fast recovery of patient, stay of patient at hospital is reduced and minimal blood loss during surgeries are also influencing the market growth in near future. According to research study, global surgical equipment market valued USD 33625.6 million in 2020 and it is expected to reach USD 60218.4 million by 2030 with the CAGR of 7.2% during the forecast period.
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Market Dynamics and Factors:
Some of the key driving factors such as increase in growth of chronic diseases, geriatric population, road accidents, obesity, and minimal invasive procedures are influencing the growth of global market during forecast period. Moreover, increase in healthcare expenditure, growing demand for plastic and reconstructive surgeries, minimal invasive technology such as laparoscopy and endoscopy have advanced technology over open surgeries have resulted to the growth of market. Thereafter, advanced surgeries such as cardio vascular thoracic syndrome and laser surgeries with fewer incisions, less pain, fast recovery, and among others are anticipated to influence the market growth during the forecast period. Furthermore, robotic surgeries, telemedicine surgeries and smart ambulance with supportive infrastructure are the potential opportunities that are expected to serve surgical equipment market growth in upcoming years. However, lack of trained manpower, stringent government regulation and high cost of equipment may hamper the market growth in near future.
Market Segmentation :
Global Surgical Equipment Market – By Product
Sutures and Staples
Handheld
Electrosurgical Devices
Others
Global Surgical Equipment Market – By Application
Neurology
Orthopaedics
Cardiology
Plastic & Reconstructive
Others
Global Surgical Equipment Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Geographically, North America is dominating the surgical equipment market due to increase in technological innovation in manufacturing of equipment, supportive infrastructure to conduct advanced technological surgeries, trained manpower, and government initiatives for healthcare awareness. Moreover, Asia Pacific and Europe are fastest growing regions due to increase in population, rapidly growing economy and rise in healthcare awareness.
Competitive Scenario:
Some of the key players of surgical equipments are Care Fusion Corporation, Integrated Life Sciences Corporation, KLS Martin LP, Aspen Surgical Products, Smith & Nephew, Johnson & Johnson, Medtronic plc. , and Zimmer Holdings, Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Surgical Equipment industry, although key threats, opportunities and disruptive technologies that could shape the Global Surgical Equipment Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Surgical Equipment Market most.
The data analysis present in the Global Surgical Equipment Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Surgical Equipment Market business.
The 2021 Annual Global Surgical Equipment Market offers:
100+ charts exploring and analysing the Global Surgical Equipment Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Surgical Equipment Market type
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