Surgical Equipment Market Dynamics in Europe, the Middle East & Africa Region with COVIDIEN, CONMED Co, Valeant, KLS Martin Group and Forecast to 2023

The Europe, the Middle East & Africa Surgical Equipment Market is expected to grow at an approximate CAGR of 6.7% during the forecast period.

A surgical equipment is a designed tool or device to carry out various surgical procedures so as to modifying biological tissues and to provide access for viewing them. The surgical equipment can be designed specifically for a particular surgery or it can be used as general purpose equipment. Increasing global burden of the diseases like Parkinson’s disease, heart disease, cancer, and others followed by growing geriatric population and rising healthcare expenditures facilitates the market growth during the forecast period.

In 2017, according to the World Health Organization, cancer was the second leading global cause of deaths, and was responsible for about 8.8 million deaths in 2015. Moreover, it was established that ~70% of the deaths due to cancer occur in low- and middle-income countries. However, high cost of the devices, shortage of skilled labor and strict regulatory policies are the major restraints for the market growth.

Key players:

Smith & Nephew (Europe), B. Braun Melsungen AG (Europe), Erbe Elektromedizin GmbH (Europe), Ethicon US, LLC. (U.S.), COVIDIEN. (Europe), CONMED Corporation. (U.S.), Integra LifeSciences Corporation. (U.S.), Valeant. (Canada), KLS Martin Group (Europe), and others.

Segmentation:

The EMEA surgical equipment market is segmented on the basis of product type, application, and end users.

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On the basis of product type, the market is segmented into surgical sutures and staples, handheld surgical equipment, electrosurgical devices, electrosurgical devices, and others. The handheld surgical equipment segment is sub-segmented into forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, electrosurgical devices, and others. The auxiliary instrument sub-segment, by handheld surgical equipment segment, is further segmented into clamps, cannulas, closure devices, and others. The cutter instruments sub-segment, by handheld surgical equipment segment, is further segmented into trocars, lancets, scissors, and others.

The electrosurgical devices segment is sub segmented into electro surgical generators, bipolar instruments, and monopolar instruments. The bipolar instruments sub-segment, by electrosurgical devices segment, is sub segmented into vessel sealing, forceps, and others. The monopolar instruments sub-segment, by electrosurgical devices segment, is further segmented into pencils, electrodes, and others. The bipolar instruments sub-segment, by electrosurgical devices segment, is sub segmented into vessel sealing, forceps, and others. The monopolar instruments sub-segment, by electrosurgical devices segment, is further segmented into pencils, electrodes, and others.

On the basis of application, the market is segmented into neurosurgery, obstetrics and gynecology, orthopedic surgery, cardiovascular surgery, and others. On the basis of end users, the market is segmented into hospitals & clinics, research organization, academic institutes, and others.

Regional Analysis:

Europe is the second largest surgical equipment market. Availability of funds for research, huge patient population and government support for research & development drives the European market. According to the Macmillan Cancer Support in 2014, 357 million people in the U.K are diagnosed with cancer every year. Moreover, by 2020 it is estimated that almost one in two people (47%) will get cancer at some point in their lives.

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On the other hand, the Middle East & Africa has the least share in the surgical equipment market due to presence of poor economy especially in Africa region which have low per capita income. Moreover, stringent government policies restrains the growth of the market in the African region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.

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