01-12-2018 07:04 PM CET - Business, Economy, Finances, Banking & Insurance

Americas Surgical Equipment Market is Expected to Grow at a CAGR of 7.2% by 2023

Press release from: Market Research Future

Surgical equipment have wide applications in distinctive surgical techniques, for example, neurosurgery, plastic and reconstructive surgeries, wound closure, urology, obstetrics and gynecology, thoracic surgery, micro-vascular, cardiovascular, orthopedic surgery, laparoscopy and others. Surgical equipment are manufactured in a wide range of various types, shapes, lengths and diameters. The choice of needle to be used must rest with the surgeon and may take into account several factors such as the requirements of the specific procedure, the nature of the tissue to be sutured, the accessibility of the operative area, and the preferred techniques of each individual surgeon.

The Americas surgical equipment market is expected to grow at a CAGR of 7.2% during the forecast period 2017-2023.

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Major Players in surgical equipment market

Some of the key players in the global market are Smith & Nephew (UK), B. Braun Melsungen AG (Germany), Ethicon US, LLC. (US), Erbe Elektromedizin GmbH (Germany), COVIDIEN (US), CONMED Corporation (US), MEDICON (US), Integra LifeSciences Corporation (US), Synergetics USA, Inc. (US), Stryker Corporation (US), KARL STORZ & Co. (US), and KLS Martin (Germany)

Regional Analysis

The Americas surgical equipment market consists of following regions: the North America and South America. North America consists of U.S, and Canada. North America is the largest market for surgical equipment which is expected to grow at a CAGR of 7.2%. In North America U.S. accounting for largest market share of surgical equipment market. The market is driven by an increasing prevalence of different diseases and increasing geriatric population. Moreover, technological innovation in manufacturing of surgical equipment also is also responsible for the growth of this market in the US. Large number of patients undergo different kind of surgeries contribute to an increase in the demand of surgical equipment in North America. Laparoscopic surgeries are done on a large scale in South America favoring the growth of this market. Canada are focusing on exporting surgical equipment’s and surgical suturing material to countries worldwide, which is increasing market in this region. Furthermore, increasing number of hospitals and healthcare services, availability of raw material and better access to labor will fuel the growth of this market.

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America surgical equipment market is into product type, application, and end users.

On the basis of product type the market is segmented into surgical sutures & staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices and others. Surgical sutures & staplers are further segmented into absorbable and non-absorbable sutures. Handheld Instruments are subsegmented into forceps, sutures, visual scope, and others. Electrosurgical devices are further categorised into Electrosurgical instruments (HET bipolar system, electrosurgical pencils, smoke evacuation system and other), and electrosurgical generators.

On the basis of application the market is segmented into neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery and others.

On the basis of end user the market is segmented into government hospitals, private hospital and other.

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