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Surgical Equipment Market Growth Outlook with Medtronic Plc., Stryker Corporation, Johnsons & Johnsons, Conmed Corporation, Alcon Laboratories Inc. and More

12-24-2018 11:26 AM CET | Health & Medicine

Press release from: Big Market Research

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Surgical Equipment Market Growth Outlook with Medtronic Plc.,

Bigmarketresearch.com Added a New Surgical Equipment Market by Product, Category and Application - Global Opportunity Analysis and Industry Forecast, 2017-2023 spreading across 350 pages with table and figures in it.

Global Surgical Equipment Market was valued at $9,783.8 million in 2016 and is expected to reach $15,737.1 million by 2023 supported by a CAGR of 7.0% during the forecast period 2017 to 2023 owing to introduction of modern electronic technologies such as minimally invasive surgery equipment and robotic & power-assisted systems. For instance, Johnson & Johnson signed an agreement to collaborate with Google to develop surgical robotics. Other factors that drive the growth of the global surgical equipment market are increase in preference for robot-assisted surgery and rise in geriatric population, which is highly susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health conditions.

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The global surgical equipment market is segmented based on product, category application, and geography. On the basis of product, the market is categorized into surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. Handheld surgical devices are further divided into forceps & spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and others (suction tubes, rasps, dissectors, and needle holders). Surgical sutures & staplers account for the largest market share, owing to rise in number of surgeries performed globally and their frequent use in all types of surgeries.

The electrosurgical devices segment grows at the highest rate, due to advancement in technology and surge in demand for minimally invasive surgeries. Based on category the market is categorized into reusable surgical equipment and disposable surgical equipment. Further, based on application the market is classified into neurosurgery, plastic & reconstructive surgeries, wound closure, urology, obstetrics &gynecology, thoracic surgery, microvascular surgery, cardiovascular surgery, orthopedic surgery, laparoscopy, and others.

The top companies which are profiled in this research are Medtronic Plc., Stryker Corporation, Johnsons & Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew Plc, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG and KLS Martin Group.

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Geographically, the surgical equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global surgical equipment market, followed by Europe and Asia-Pacific. This is attributed to the large patient pool undergoing surgeries coupled with faster incorporation of novel surgical equipment in this region. In addition, favorable regulatory framework promotes manufacturers to invest in the development of surgical equipment. Factors such as substantial growth in the medical tourism industry, rising need to fulfill the unmet healthcare demands, and rising innovations in the surgical treatment has contributed to the robust growth displayed by the Asia-Pacific region in the surgical equipment market during the forecast period.

Related Report:

Powered Surgical Instrument Market by Product, Power Source and Application: Global Opportunity Analysis and Industry Forecast, 2018 – 2025

The global powered surgical instrument market was valued at $1,943 million in 2017 and is projected to reach $2,731 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025. The factors that drive the growth of the global powered surgical instrument market include rising healthcare expenditure, increasing prevalence of chronic diseases globally, and growing aging population. In addition, increasing volume of surgical procedures is expected to drive the market growth.

The report provides a comprehensive analysis of the key players operating in the global powered surgical instrument market namely, AlloTech Co. Ltd., Conmed Corporation.Depuy Synthes (Johnson & Johnson), Medtronic plc, Stryker Corporation, Zimmer Biomet, adeor Medical AG, Smith & Nephew plc, B. Braun Melsungen AG, and MicroAire Surgical Instruments, LLC.

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