General Surgical Devices Market: Information By Type (Disposable Surgical Supplies, Open Surgery Instrument), By Product, Application, By End-User, and Regional Outlook — Forecast Till 2026

In the few last decades, global healthcare expenditure has increased by several folds. Centre for Medicare and Medical Services is expecting 5.5% growth every year in the U.S. national health spending and is expected to reach USD 5.7 trillion by 2026. General surgical devices are necessary to manage multiple healthcare conditions such as thoracic, abdominal, orthopedic, among others. Globally, the total volume of surgeries has increased, which, also increased the demand for general surgical devices.

Growing geriatric population and rising prevalence of infectious diseases are expected to support the market growth further. The early adoption of unhealthy habits such as cigarette smoking and consumption of alcohol is causing the various diseased condition. Additionally, the growing number of road accidents and rising demand for disposable supplies such as syringes, needles, lancets, and others are pushing the market ahead.

However, increased risk and unavailability of medical facilities in underdeveloped regions are some of the challenges manufacturers need to address if they want to expand their market presence and revenue. Nevertheless, advancing healthcare technology and lack of medical facilities in developing areas are offering growth opportunities to enter the untapped market.

Global general surgical devices market was valued at USD 13,862.2 million in 2018 and is projected to grow at a CAGR of 9.1% during the forecast period 2019–2026.

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Intended Audience
Hospitals
Clinics
Potential Investors
Research and Development Institutes
Medical Research Laboratories
Segmental Insights

Global general surgical devices market is segmented by type, product, applications, and end users.

By type, the market is segmented into disposable surgical supply, open surgery instrument, energy-based and powered instrument, minimally invasive surgery instruments, medical robotics, and others. Disposable surgical supplies segment is expected to dominate the market owing to the increasing volume of surgeries being performed across the globe. On the other hand, minimally invasive surgery instruments would witness the fastest growth due to rising adoption of minimally invasive cosmetic and orthopedic surgeries across the globe.

Based on the product, the market is segmented into handheld devices, laparoscopic devices, and others. Amongst product, handheld devices segment is expected to be the leader owing to rising demand for handheld surgical devices.

On the basis of application, the market is segmented into orthopedic, cardiology, wound care, neurosurgery, and others. Amongst application, the orthopedic segment is anticipated to account for the major market share owing to the increased number of accidents and bone injuries globally.

By end users, the market is segmented into hospital, clinics, ambulatory clinics, and others.

Regional Analysis

Globally, the general surgical device market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa.

North America has a well-developed healthcare sector, especially in the U.S. and Canada. The sector is also known to adopt advanced technology more rapidly to serve the large patient pool better. Here, people spend a huge sum on healthcare to receive quality treatment. Every year, a huge amount of surgeries is being performed in the region. As a result the high prevalence of various chronic, acute, and lifestyle-related diseases such as diabetes, stroke, and obesity. For instance, over 48 million surgeries were performed in 2009, and the number has grown many folds since then. Moreover, 1,258,581 cesarean deliveries were performed in the U.S. along in 2016, which is 31.9% of total births. It makes the region one of the most prominent markets globally.

Europe is estimated to be the second largest market, followed by Asia Pacific. The increasing volume of surgery in the region and the rapid adoption of the latest technology are driving its growth. For instance, in 2014, over 4.2 million cataract surgery was conducted in European Union countries.

Asia Pacific general surgical device market is expected to grow at the fastest CAGR during the forecast period. This is attributed to the growing number of surgeries, the largest diabetic and obese population, and huge investment in the healthcare sector by the governments and private players. According to the International Diabetes Federation (IDF), over 47% of Chinese adults are likely to have diabetes or prediabetes. Additionally, a high rate of road accidents is further boosting the market growth. According to the Supreme Court of India (Committee for Road Safety), 1,50,935 people died in road accident in 2016.

LAMEA is expected to show healthy growth during the forecast period on account of the growing geriatric population and an increasing number of surgeries in the region. Moreover, the lack of medical facilities in Africa may slow down the growth trajectory in the years to come.

Key Players

Some of the key players in the global general surgical device market are Johnson & Johnson Services (U.S.), Conmed Corporation (U.S.), Dickinson and Company (U.S.), Boston Scientific Corporation (U.S.), Medtronic Plc (Ireland), Cadence Inc. (U.S.), Ortho-Clinical Diagnostics Inc. (U.S.), Siemens Healthcare GmbH (Germany), Hoffmann-La Roche (Switzerland), and TransEnterix Surgical (Switzerland)

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Minimally invasive surgery instruments
Laparoscopes
Organ retractors
Others
Medical robotics
Others
By Product
Handheld Devices
Laparoscopic Devices
Others
By Application
Orthopedic
Cardiology
Wound Care
Neurosurgery
Others
By End-User
Hospital/Clinics
Ambulatory clinics
Others
By region
North America
Europe
Asia Pacific
Latin America and Middle East & Africa

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This release was published on openPR.