Impact of Covid-19 on Surgical Devices Market 2020: Remarking Enormous Growth with Recent Trends | Johnson & Johnson Services, Inc., Stryker, Medtronic, CONMED Corporation, Becton, 3M, etc.

The Surgical Devices Market is estimated to reach USD 26.52 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the growing number of surgical procedure along with technological advancements in surgeries that are expected to become the most common growth factors globally in the coming years.

The research focuses on the market changes that followed the COVID-19 outbreak. The pandemic has altered many aspects of the current global market scenario. This report undertakes a detailed impact analysis to study its effects on the present and future business landscape.

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Key participants include Johnson & Johnson Services, Inc., Stryker, Medtronic, CONMED Corporation, Becton, 3M, Dickinson and Company, Integra LifeSciences, B. Braun Melsungen AG, Smith & Nephew, Erbe Elektromedizin GmbH, Boston Scientific Corporation, and Zimmer Holdings Inc., among others.

The growth in the market is driven by factors such as the increasing number of surgical procedures which has led to the growing demand for surgical tools with developing predominance & incidence of several chronic diseases and increase in aging population. Growing demand for plastic and reconstructive surgery, rising healthcare expenditure, and accelerating need for technologically advanced and minimally invasive surgical procedures are anticipated to promote the market growth further during the forecast period. Stringent government regulations and lack of proper compensation for surgical devices may hinder the market growth during the forecast period.

Due to the presence of key players, favorable reimbursement policies, and rising number of surgical procedures and several initiatives taken by the government to provide access to advanced devices for general surgery & training sessions for physicians, North America accounts for the largest market share of 31.3% in 2018.

For the purpose of this study, Reports and Data have segmented the global Surgical Devices Market on the basis of Device type, Product, application and region:

Regional Outlook (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Latin America
MEA

By Device type Outlook (Revenue, USD Million; 2016-2026)
Disposable Surgical Device
Reusable Surgical Device
Medical robotics & computer-assisted devices

By Product Outlook (Revenue, USD Million; 2016-2026)
Surgical Sutures and Staples
Auxiliary Instruments
Energy-based & Powered Instruments
Others
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Application Outlook (Revenue, USD Million; 2016-2026)
Orthopedic Surgery
Laparoscopy
Neurosurgery
Wound Closure
Others

Further key findings from the report suggest

1. Innovative product development and collaborative developments are some critical strategic initiatives taken by the players in this industry to point their mark in the competition.

2. The reusable surgical devices are highly adopted by the surgeons worldwide to decrease overhead costs, particularly surgeons operating in an ambulatory surgical center (ASC) setting or small medical set-ups.

3. The growing inclination towards minimally invasive surgeries such as electro surgery contributes to the market demand.

4. The global Surgical Devices Market is growing at a rapid speed due to the rising demand for plastic and reconstructive surgery and also the growing number of aged patients worldwide.

5. The availability of advanced systems coupled with the presence of experienced employees is also some of the factors that are expected to bring lucrative opportunities for this segment.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.
About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

This release was published on openPR.