Surgical Equipment Market Worth to Outgrow by USD 18025.63 million By 2027
Posted On September 02, 2021
According to the research report by Value Market Research, the Global Surgical Equipment Market is likely to grow to USD 18025.63 million by 2027 with a CAGR of 10% during the year 2021-2027. The key factors driving the growth of surgical equipment market over the forecast period are increasing preference for minimally-invasive surgeries and rapid growth of geriatric population who are highly prone to cardiovascular, gastric, ocular and skin disorders, obesity and other medical conditions. The surgical equipment market is projected to exhibit steady growth owing to increasing incidence of chronic diseases, steep rise in the number of accidents and surge in sports related injuries where surgery is unavoidable. Increasing volume of surgeries, technological advancements made in surgical equipment and research and development activities performed over the past few years are indicative of surgical equipment market growth. Furthermore, awareness among patients about the financial benefits of surgical intervention at an early stage will also contribute to its market growth. However, there are some factors restraining its market growth. These include high cost of surgical procedures, inadequate healthcare coverage, stringent regulatory policies introduced by various regulatory authorities. Other factors like shortage of skilled and trained professionals, lack of accessibility to safe surgical care in underdeveloped countries and incorrect sterilization of reusable instruments will also limit its market growth.
Surgical equipment refers to a collection of specially designed instruments that are used for carrying out certain actions during surgical procedures. The equipment helps to perform a variety of functions such as holding, grasping, cutting, dissecting, retracting and suturing. The equipment aids in accessing the internal body parts and enables healthcare professionals to physically modify the biological tissues. It includes a wide range of tools such as scalpels, scissors, staplers, saws, forceps, clamps, retractors, hemostatic instruments and tissue unifying instruments and materials. Surgical equipments are mostly manufactured from stainless steel but other metals and alloys such as titanium and vitallium are also utilized. It assists the surgeons during a surgery and the success of a surgery depends on the surgical equipment to a great extent.
"Global Surgical Equipment Market Report By Type By Product (Surgical Sutures & Staplers, Handheld Surgical Devices (Forceps & Spatulas, Retractors, Dilators, Graspers, Auxiliary Instruments, Cutter Instruments, Others), Electrosurgical Devices), By Application (Neurosurgery, Plastic & Reconstructive Surgery, Wound Closure, Obstetrics & Gynecology, Cardiovascular, Orthopedic, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of product the market is segmented into Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices. By application the surgical equipment market is categorised as Neurosurgery, Plastic & Reconstructive Surgery, Wound Closure, Obstetrics & Gynecology, Cardiovascular, Orthopedic, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Surgical Equipment is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Surgical Equipment Market -
- Surgical Sutures & Staplers
- Handheld Surgical Devices
- Forceps & Spatulas
- Auxiliary Instruments
- Cutter Instruments
- Electrosurgical Devices
- Plastic & Reconstructive Surgery
- Wound Closure
- Obstetrics & Gynecology
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Medtronic PLC, Micron Biomedical, Inc., Ethicon, Inc., Stryker Corp., Alcon Laboratories, Inc., Aspen Surgical Products, Inc., and Alcon Laboratories, Inc.
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