The global surgical equipment market valued at $31,722.30 million in 2019 and is estimated to reach $44,448.58 million by 2027, at a CAGR of 6.3% during the forecast period. The growth of the global surgical equipment market is majorly driven by increase in number of patients suffering from chronic diseases, rise in the elderly population, surge in the surgical procedures especially minimally invasive surgical equipment, and requirement of the advanced surgical equipment. However, number of surgical procedures affected during the COVID-19 pandemic, which decreases the demand of surgical instruments at the global level and this negatively impacted the market growth. Conversely, high market potential in untapped emerging economies and medical tourism are expected to provide lucrative growth opportunities for the market growth.
Surgical equipment are the tools or instruments used during surgical procedures for performing specific actions including altering biological tissue, or to provide access for viewing it. Different types of surgical tools have been invented over the time. Some surgical equipment are designed and developed for general use in surgery, while others are manufactured for a specific surgical procedure.
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The global surgical equipment market is segmented on the basis of product, category, application, and region. By product, the market is divided into surgical sutures and staplers, handheld surgical instruments, electrosurgical devices, and other surgical equipment. On the basis of category, the market is bifurcated into reusable surgical equipment and disposable surgical equipment. On the basis of application, the market is classified into neurosurgery, plastic & reconstructive surgery, wound closure, urology, obstetrics *gynecology, thoracic surgery, microvascular, cardiovascular surgery, orthopedic surgery, laparoscopy, ophthalmic application, veterinary application, dental application, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? This report entails a detailed quantitative analysis along with the current global surgical equipment market trends from 2020 to 2027 to identify the prevailing opportunities along with the strategic assessment.
? The market forecast is studied from 2020 to 2027.
? The market size and estimations are based on a comprehensive analysis of key developments in the industry.
? A qualitative analysis based on innovative products facilitates strategic business planning.
? The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
KEY MARKET PLAYERS
– Medtronic Plc.
– Peters Surgical SASU
– Johnsons & Johnsons
– Conmed Corporation
– Novartis International AG
– Smith & Nephew PLC
– Boston Scientific Corporation
– B. Braun Melsungen AG
– Cousin-Biotech
– Enthral Medical GMBH
– Fuhrmann GMBH
– Integral Lifesciences Holdings Corporation
– KLS Martin Group
KEY MARKET SEGMENTS
By Product
– Surgical Sutures & Staplers
o Surgical Sutures
o Surgical Staplers
– Handheld Surgical equipment
o Forceps & Spatulas
o Retractors
o Dilators
o Graspers
o Auxiliary Instruments
? Clamps
? Cannulas
o Cutter Instruments
? Trocars
? Lancets
? Scissors
o Ligating clips
o Others
– Electrosurgical Devices
– Other surgical equipment
By Category
– Reusable Surgical Equipment
– Disposable Surgical Equipment
By Application
– Neurosurgery
– Plastic & Reconstructive Surgeries
– Wound Closure
– Urology
– Obstetrics & Gynecology
– Thoracic Surgery
– Microvascular
– Cardiovascular
– Orthopedic Surgery
– Laparoscopy
– Ophthalmic application
– Veterinary application
– Dental application
– Others
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By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o UK
o France
o Germany
o Spain
o Italy
o Russia
o Rest of Europe
– Asia-Pacific
o Japan
o China
o India
o Thailand
o Vietnam
o Indonesia
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o Algeria
o Maghreb
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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- And so forth of the fundamental players, which assists the peruses with distinguishing the indispensable contenders and profoundly know the opposition instance of the market.
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- This document stays refreshed with novel innovation mix, highlights, and the latest developments on the lookout.
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