Surgical Equipment Market Size, Share, Trends, Regional Outlook, Competitive Strategies and Forecast 2023

Surgical equipment is tools that are designed to view internal body organs or modify biological tissues. They are used for various surgical procedures such as neurosurgery, urology, laparoscopic, plastic surgery, cardiovascular, and others. The surge in the prevalence of chronic disorders among the geriatric population, increase in a number of surgical procedures and increase in demand for surgical procedures such as minimally invasive surgeries and laparoscopic surgeries act as the major drivers of the global surgical equipment market.

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The global surgical equipment market is segmented based on product, category application, and geography. Depending on the product, the market is categorized into surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. The handheld surgical instruments segment accounted for the one-third of the total market share.

Increasing demand for a handheld surgical instrument is attributed to frequent incorporation of the same in various surgeries including cardiovascular surgeries, microvascular surgeries, and laparoscopic surgeries among others.

The applications covered in the study include neurosurgery, plastic & regenerative surgery, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, laparoscopy, and others. The laparoscopy surgery segment held the largest market share in 2016, accounting for one-fifth of the total market. However, plastic & reconstructive surgery is estimated to grow at the fastest pace during the forecast period, owing to the rise in a number of aesthetic/cosmetic surgical procedures across the globe.

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Major Players:

• Medtronic Plc.
• Stryker Corporation
• Johnsons & Johnsons
• Conmed Corporation
• Alcon Laboratories Inc.
• Smith & Nephew PLC
• Zimmer Holdings Inc.
• Boston Scientific Corporation
• B. Braun Melsungen AG
• KLS Martin Group
• Johnsons & Johnsons
• Smith & Nephew.

Key Findings:

• The reusable surgical equipment segment dominated the global market in 2016 and is expected to maintain this trend throughout the forecast period.

• Closure devices were the major contributor to the revenue of surgical auxiliary instruments in 2016 and are anticipated to maintain this trend throughout the forecast period.

• Lancets/Scalpels registered the highest growth in the surgical cutter instruments market during the forecast period.

• Retractors are anticipated to grow at the fastest pace in the handheld surgical instruments market during the forecast period.

• Europe accounted for one-third of total market share in 2016 and is expected to maintain this trend throughout the forecast period.

• The UK is anticipated to grow at the fastest pace in the European surgical equipment market during the forecast period.

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