Surgical Equipment Market Size, Share , Latest Trends, Key Players And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Surgical Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The surgical equipment market size has grown strongly in recent years. It will grow from $29.98 billion in 2023 to $32.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to globalization of medical tourism, rise in ambulatory surgery centers, government investments in healthcare infrastructure, focus on infection control measures, training and education programs.

The surgical equipment market size is expected to see strong growth in the next few years. It will grow to $43.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increased demand for elective surgeries, focus on outpatient surgical care, global health crisis preparedness, patient-centric healthcare, focus on environmental sustainability, regulatory harmonization. Major trends in the forecast period include robot-assisted surgery advancements, augmented reality (ar) in surgery, remote and telesurgery, customized surgical instruments, smart implants and prosthetics.

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Market Drivers and Trends:

The growing demand for minimally invasive surgery (MIS) will increase the demand for advanced surgical equipment. An MIS refers to any surgical procedure that requires minimal incisions as opposed to traditional or open surgery used for the same purpose. Preference for MIS procedures increased due to their multiple advantages, such as short healing and recovery times, minimal scarring, cost-effectiveness, minimal trauma and pain, and decreased risk of infections and complications. Medical technology innovations led to the development of advanced surgical equipment such as Da Vinci surgical systems, C-arm devices, and electrosurgical and power-assisted surgical equipment. These devices, which enable MIS, will drive the surgical equipment market during the forecast period.

Major companies operating in the surgical equipment market are focused on developing innovative products, such as TrueDent resin, to increase their profitability in the market. TrueDent is an FDA-cleared (Class II) patented resin specifically designed for the 3D printing of dentures, temporary crowns, and bridges using the J5 DentaJet platform. For instance, in February 2023, Stratasys Ltd., a US-based additive manufacturer, launched TrueDent resin, which is the company's first FDA-cleared medical device. TrueDent resin is a light-curing material engineered for 3D printing, primarily intended for producing aesthetically pleasing monolithic dentures along with temporary crowns and bridges using the J5 DentaJet platform. This resin facilitates the fabrication of precise and aesthetically pleasing full and partial dentures, ensuring patients receive dentures that fit well, maintain their form, and function effectively.

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Major Key Players of the Market:

Johnson & Johnson (J&J), Abbott Laboratories, Cousin Surgery LLC, 3M Company, Medtronic PLC, Becton Dickinson and Company, Philips, Stryker Corporation, GE Healthcare, Meril Life Science Pvt. Ltd, Boston Scientific Corporation, Alcon Laboratories Inc., B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Olympus Corporation, Intuitive Surgical Inc., Smith & Nephew plc, Hoya Corporation, Ethicon Inc., Sonova Holding AG, ResMed, Cadence, Getinge Group, Integra LifeSciences Holdings Corporation, CONMED Corporation, KLS Martin Group, Aspen Surgical Products Inc., Frankenman International Limited, Fuhrmann GmbH, Entrhal Medical GmbH

Surgical Equipment Market 2024 Key Insights:

• The surgical equipment market size is expected to see strong growth in the next few years. It will grow to $43.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• The Surge In Minimally Invasive Surgery (MIS) Drives Demand For Advanced Surgical Equipment
• Leading Surgical Equipment Companies Boost Profitability With Innovative Truedent Resin For 3D Printing
• North America was the largest region in the global surgical equipment market in 2023

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