The global surgical equipment market size reached US$ 16.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.05 Billion by 2027, exhibiting a growth rate (CAGR) of 6.70% during 2022-2027.
Surgical equipment represent devices or tools used during surgical procedures to gain access to the internal parts of the body and physically modify biological tissues. They are specifically designed to perform various functions, including grasping, holding, cutting, dissecting, retracting, suturing, etc. Some of the most common types of surgical equipment comprise hand instruments, electrosurgical devices, auxiliary instruments, closure devices, etc. They are generally manufactured by using stainless steel, aluminum, carbon steel, titanium, etc. Surgical equipment are widely available in several sizes and cleaned and sterilized before performing surgery.
Industry Trends & Drivers
The increasing incidences of lifestyle diseases are among the key factors stimulating the surgical equipment market. Moreover, continuous technological advancements in minimally invasive (MI) and electronic robot-assisted surgeries are acting as significant growth-inducing factors. Besides this, the expanding geriatric population, who are highly susceptible to developing numerous health conditions, such as gastric, ocular, and intestinal disorders, is also positively influencing the global market.
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Furthermore, key market players are focusing on investing in R&D activities for greater control, access, and precision in complex surgeries, which is propelling the market growth. Apart from this, the widespread adoption of these tools in cardiovascular, orthopedic, neurological, oral, cosmetic, and gastric surgeries is bolstering the global market. Additionally, the rising number of hospital chains and ambulatory surgical centers is further catalyzing the market growth. In line with this, the inflating healthcare expenditure capacities of individuals and the launch of favorable policies by government bodies for supporting continual developments in medical infrastructures are anticipated to fuel the surgical equipment market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alcon, B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Integra LifeSciences, Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Olympus Corporation, Smith & Nephew plc, Stryker Corporation and Zimmer Biomet.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
- Surgical Sutures and Staplers
- Handheld Surgical Equipment
- Forceps and Spatulas
- Retractors
- Dilators
- Graspers
- Auxiliary Instruments
- Cutter Instruments
- Electrosurgical Devices
- Others
Breakup by Category:
- Reusable Surgical Equipment
- Disposable Surgical Equipment
Breakup by Application:
- Neurosurgery
- Plastic and Reconstructive Surgery
- Wound Closure
- Obstetrics and Gynecology
- Cardiovascular
- Orthopedic
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgical Centers
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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