Disposable Surgical Devices Market Impact of Industry Size, Shares, and Impact Y-o-Y

The Global Disposable Surgical Devices Market is expected to grow at a CAGR of around 7.7% from 2022 to 2030 and reach the market value of over US$ 14.2 Billion by 2030.

The North American disposable surgical device market is expected to dominate the global market. Government initiatives, a large patient pool, well-established healthcare infrastructure, increased adoption of advanced technology, and growing awareness about infection control and cross-contamination in the medical and healthcare fields are some of the major factors driving the growth of the global disposable surgical devices market.

On the other hand, Asia Pacific is expected to have the fastest growing CAGR during the forecast period. The rising prevalence of chronic diseases as a result of sedentary lifestyles, as well as the presence of a large number of players involved in the development of medical disposable products, such as India and Japan, is expected to drive the growth of the global disposable surgical devices market.

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Market Dynamics

The rising incidence of hospital-acquired infections and diseases, as well as the increased emphasis on infection prevention, are driving the growth of the global disposable surgical devices market. According to World Health Organization (WHO) data, the prevalence of healthcare-associated infection ranged from 3.5% to 12% in developed countries, and it ranged from 5.7% to 19.1% in low and middle-income countries. Rising geriatric population, boost in incontinence problems, some mandatory guidelines that must be followed for patient safety, and increasing demand for sophisticated healthcare facilities are some of the key factors driving the global disposable surgical devices market. However, the mixed impact on the medical disposables market can be attributed to factors such as health insurance concerns, which have raised patient copayments and limited coverage for various medical services, as well as discouraging people from visiting hospitals for unnecessary reasons. Cost-cutting in healthcare One of the factors that may impede the growth of the global disposable surgical devices market is the presence of substitute products.

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COVID-19 impact act positively on the growth of the global disposable surgical devices market

The emergence of a new corona virus pandemic has increased demand for disposable surgical devices. The COVID-19 strain is highly contagious and can spread quickly. To avoid this transmission, hospitals and clinics have switched from reusable to disposable instruments. As a result of all of these factors, the disposable surgical devices market is expected to grow rapidly during the pandemic.

Segmental Outlook

The global disposable surgical devices market is segmented based on product and application. Product is segmented as surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. By application, the market is segmented as neurosurgery, plastic & reconstructive surgery, wound closure, obstetrics & gynecology, cardiovascular, orthopedic, general surgery, and others

Competitive Landscape

The major players involved in the disposable surgical devices market involve B. Braun, Smith & Nephew plc, Aspen Surgical, Alcon, Zimmer Biomet, Medtronic plc, Becton, Dickinson and Company, Ethicon, Inc., CooperSurgical, Inc., Surgical Innovations, and among others.

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Some of the key observations regarding disposable surgical devices industry include:

• In December 2020, Zimmer Biomet announced an acquisition with A&E Medical Corporation. Zimmer Biomet has acquired A&E Medical and its complete portfolio of sternal closure devices - including sterna sutures, cable systems, and rigid fixation - along with a range of single-use complimentary temporary pacing wire and surgical punch products.

• In November 2020, Surgical Innovations announced a collaboration with the Centre for Sustainable Healthcare ("CSH"). This new collaboration with CSH will enable the validation of the Company's environmental messaging and demonstrate the quantifiable cost and environmental savings from a 'greener' operating room. This data will then help develop information and training for NHS hospitals and staff as they seek to fulfill obligations on sustainability in the NHS, and follow the publication in October 2020 of the NHS 'Net Zero' objective.

• In October 2016, Becton, Dickinson and Company announced joint venture with Apax Partners. The closing finalizes the sale of 50.1 percent interest in BD's Respiratory Solutions business to funds advised by Apax Partners, a leading global private equity firm. Vyaire Medical includes all business lines within BD's Respiratory Solutions business, including Ventilation, Respiratory Diagnostics, Vital Signs, and AirLife.

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