Surgical Equipment Market Size to Cross USD 14.8 billion by 2030, Driven by 4% CAGR | TMR Study

The global 𝐬𝐮𝐫𝐠𝐢𝐜𝐚𝐥 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 was worth US$ 9.7 Bn and is projected to reach a value of US$ 14.8 Bn by the end of 2030, it is anticipated to grow at a CAGR of 4% during the forecast period.

Surgical equipment encompasses a wide range of instruments and devices crucial for various surgical procedures, contributing significantly to the efficiency and success of medical interventions. The demand for single-handed surgical suturing devices is growing in the healthcare landscape. Mellon Medical- a Dutch medtech company has announced the launch of Switch®- a single patient use precision suturing device, which is being used for abdominal wall closure and facilitates the small bites technique. Companies in the surgical equipment market are setting their collaboration wheels in motion by entering into strategic agreements to create enough availability of single-handed surgical suturing devices in various healthcare facilities.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬-

Health insurance is gaining momentum in the countries such as India. Currently, 15% of the population is covered by government health insurance companies and 2% by private health insurance. Several private insurance companies have entered the market and empaneled hospitals to provide cashless treatment to patients of insurance companies.

According to the data provided by Narayana Health in 2017, India needed around 65 crore surgeries per year to meet the growing demand for different types of surgeries. However, currently, India conducted around only 2 crore surgeries per year, and this deficiency is due to lack of affordability of healthcare as well as less number of specialized surgeons.

Therefore, the high rate of penetration of healthcare insurance and awareness about the advantages of healthcare insurance prompt patients to undergo treatment, and this is expected to help to meet the demand for surgeries and boost the demand for surgical equipment

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞-

Medtronic plc,CONMED Corporation,Olympus Corporation,BD,Stryker,Meril Life Science Pvt. Ltd.,Integra Lifescience Corporation,Ethicon, Inc.,Healthium Ltd.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧-

𝐏𝐫𝐨𝐝𝐮𝐜𝐭

Surgical Sutures & Staples
Surgical Handheld Instruments
Grasping Instruments
Retractors and Dilators
Cutting Instruments
Others

𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐬𝐮𝐫𝐠𝐢𝐜𝐚𝐥 𝐃𝐞𝐯𝐢𝐜𝐞𝐬

Generators
Consumables

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Ophthalmology
Gynecology
General Surgery
Bariatric Surgery
Plastic Surgery
Others

𝐄𝐧𝐝 𝐔𝐬𝐞𝐫

Hospitals
Ambulatory Surgical Centers
Clinics

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐊𝐞𝐲 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬 𝐨𝐟 𝐒𝐮𝐫𝐠𝐢𝐜𝐚𝐥 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭-

The surgical equipment market is highly fragmented. The market consists of several small to medium-sized companies that compete with each other and larger enterprises. Several regional and local manufacturing players offer low-cost surgical equipment such as cutting instrument, sutures, dilators, etc., especially in countries such as China, Brazil, India, and Germany.

Moreover, high preference for low-cost endosurgery instruments and the habit of using consumable instruments, such as forceps and pencils for a long time in repeated surgery in rural area hospitals, have restraint sales volume of surgical equipment of numerous manufacturing companies. This is hampering the surgical equipment market.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐌𝐢𝐜𝐫𝐨 𝐒𝐰𝐢𝐭𝐜𝐡 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/26/2676974/0/en/Micro-Switch-Market-is-Set-to-Grow-at-a-CAGR-of-5-4-Leading-to-a-Revenue-of-US-9-2-Billion-by-2031-Get-In-Depth-Studies-by-Transparency-Market-Research.html

𝐀𝐫𝐭𝐢𝐜𝐮𝐥𝐚𝐭𝐞𝐝 𝐑𝐨𝐛𝐨𝐭 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/26/2676907/0/en/Articulated-Robot-Market-Sale-to-Attain-USD-38-3-Billion-by-2031-North-America-to-Hold-37-72-Share-Transparency-Market-Research.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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