Surgical Equipment Market Insights and Analysis By Product Type, by Application And by End-User- Global Forecast Till 2030
According to Market Research Future (MRFR), the global surgical equipment market is anticipated to acquire a significant valuation at a 5.40% CAGR during the forecast period.
The global surgical equipment market benefits from the rising prevalence of chronic diseases like cardiovascular disease, obesity, and skin issues, among others. The market is also anticipated to be impacted by the growing older population in the world as well as the growing number of surgeries conducted in hospitals and ambulatory surgery centres throughout the research period.
The market is also benefited by government initiatives, the growth of the surgical centre and medical device industries, and other factors. On the other side, the market's expansion is being constrained by a number of challenges, such as the high cost of medical surgical equipment and strict regulatory guidelines from different governmental organisations throughout the world.
Segmental Analysis Of Surgical Equipment Market
The global surgical equipment market is segmented based on product type, application, and end-user.
The several types of products available in the global surgical equipment market are electrosurgical devices, electrosurgical generators, handheld instruments, monitoring devices, surgical sutures and staplers, and others. Surgical sutures and staplers segment is sub-segmented into absorbable and non-absorbable sutures.
The handheld instruments segment is sub-segmented into forceps, sutures, visual scope, and others.
The electrosurgical devices segment is sub-segmented into electrosurgical instruments such as electrosurgical generators, HET bipolar system, electrosurgical pencils, smoke evacuation system, and others.
The applications of surgical equipment are cardiovascular surgeries, neurosurgery, orthopedic surgery, urology, wound closure, and others.
On the basis of end-user, the surgical equipment market is segmented into ambulatory surgical centers, hospitals, and others.
Identified by MRFR in the global surgical equipment market players are B. Braun Melsungen AG (Germany), CONMED Corporation (US), COVIDIEN (US), Erbe Elektromedizin GmbH (Germany), Ethicon US, LLC. (US), Integra LifeSciences Corporation (US), KARL STORZ Co. (US), KLS Martin (Germany), MEDICON (US), Smith Nephew (UK), Stryker Corporation (US), and Synergetics USA, Inc. (US).
Regional Analysis
Based on the region, the global surgical equipment market trends is segmented into the Americas, Asia Pacific, Europe, and the Middle East and Africa.
The Americas accounts for the largest market share of the global surgical equipment market over the review period. The growth of the global medical device sector, rising emphasis on quality medical care, and the accessibility of advanced surgical devices are the essential drivers for the market growth. North America accounts for the largest market share among the americas, with the U.S. and Canada being the foremost contributor to the growth of the market. In the U.S., the presence of significant market players in the medical device industry and the extensive usage of advanced surgical devices is likely to drive the market over the review period. South America also exhibits a vast scope of growth opportunities with an increase in the demand for surgical devices in the forecast period.
Europe is also considered a significant region in the global surgical equipment market and is likely to follow behind North America in terms of market share over the review period. France, Germany, and the U.K. are the major contributors to the market growth. The rising number of market players producing surgical equipment, increasing government support, and a rise in outpatient surgeries are expected to fuel the market growth in the European nations. moreover, growing healthcare expenditure by European governments is also expected to create favorable factors for market growth.
The Asia Pacific region is the fastest-growing region in the global surgical equipment market, owing to the massive demand for surgical devices and instruments, growing awareness about quality medical care in hospitals and surgical centers, and the rising prevalence of chronic diseases such as cardiovascular diseases in the region. India, China and Australia are the major contributors to the market owing to the availability of skilled medical professionals and growing healthcare expenditure by the governments of these countries over the review period.
The Middle East and African region's surgical equipment market is expected to rise gradually over the study period due to the increasing accessibility of specialist healthcare services in middle eastern developing countries like the United Arab Emirates and Saudi Arabia. The African area is expected to grow consistently because there is a demand for primary healthcare services there.
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