Surgical Instruments Market Size is Expected to Reach USD 38.13 Billion by 2030: Increasing Number of Surgeries Across the Globe is Drive Industry Growth

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Surgical Instruments Market Size is Expected to Reach USD 38.13 Billion by 2030: Increasing Number of Surgeries Across the Globe is Drive Industry Growth

September 22
20:12 2022
Surgical Instruments Market Size is Expected to Reach USD 38.13 Billion by 2030: Increasing Number of Surgeries Across the Globe is Drive Industry Growth
surgical instruments market
The global surgical instruments market is expected to reach USD 38.13 Billion in 2030 and register a revenue CAGR of 8.0% during the forecast period

The global surgical instruments market is expected to reach USD 38.13 Billion in 2030 and register a revenue CAGR of 8.0% during the forecast period, according to the latest report published by Reports and Data. Key factors driving global surgical instruments market revenue growth include increasing prevalence of various chronic diseases such as cardiovascular diseases, cancer, neurological disorders, rising number of accidents and trauma emergencies, and improving healthcare facilities and infrastructure across the globe. 

Surgical instruments are tools or devices used by skilled healthcare professionals for performing various tasks during surgical processes. These instruments are used for holding, cutting, retracting, clamping, or dilating biological tissue. Various surgical instruments are available for general surgery as well as for carrying out complex surgical procedures. Sutures, staplers, forces & spatulas, retractors, dilators, graspers are some of the commonly used instruments in hospitals and clinics. Factors such as increasing number of hospitals, clinics, ambulatory care centers across the globe, rising demand for minimally invasive surgical processes, and increasing adoption of robotic surgeries are expected to continue to drive market revenue growth during the forecast period. In addition, increasing healthcare expenditure, and increasing focus on developing compact, advanced, and cost-effective surgical instruments are expected to fuel market growth going ahead. 

 

Rapid advancements in surgical instruments, increasing number of surgeries across the globe, and increasing global geriatric population are key factors fueling global surgical instruments market growth – Our Expert Opinion

 

However, factors such as unfavorable reimbursement schemes, stringent regulatory norms regarding product approval, and lack of skilled healthcare professionals in many hospitals and other healthcare centers are expected to hamper overall market growth to a certain extent during the forecast period. 

Some key highlights of the report:

  • Based on application, the plastic & reconstruction surgeries segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing cases of road accidents, rising focus on personal appearance and esthetics, increasing disposable income in developing countries, increasing number of surgeries such as chin and breast augmentation, breast reduction, and rising demand for advanced surgical instruments. 
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  • Based on category, the reusable segment is expected to register fastest revenue CAGR during the forecast period owing to factors such as increasing prevalence of chronic illnesses and accidents, and high demand for advanced surgical instruments to cater to rising number of complex surgeries. In addition, availability of various instruments of plastics and polymers with better retention properties that can withstand heat and radiation for effective sterilization is expected to drive revenue growth of the segment during the forecast period. 
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  • Europe is expected to register steady revenue growth between 2021 and 2028 owing to factors such as rising prevalence of chronic diseases, trauma injuries, presence of well-developed healthcare infrastructure, and high preference for minimally invasive surgery instruments. In addition, increasing investments in research and development activities, and rapid advancements in surgical devices and instruments are expected to fuel market growth during the forecast period. 
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  • Asia Pacific market revenue is expected to expand at a CAGR of 8.2% during the forecast period. This can be attributed to rising cases of chronic illnesses, increasing number of road accidents, and surgeries, rising healthcare spending, and increasing demand for latest surgical instruments and devices. In addition, increasing investments in research and development activities to develop advanced and affordable surgical instruments is expected to fuel market growth in Asia Pacific during the forecast period.  

 

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Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Surgical Instruments market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Alcon Laboratories, Inc., Becton, Dickinson and Company, Medtronic, Plc, Boston Scientific Corporation, Abbott Laboratories, Inc., Progressive Medical, Inc., Scanlan International, Koninklijke Philips NV, Biolitec AG, and Johnson & Johnson

The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Surgical Instruments Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2019–2030)

  • Surgical Sutures & Staplers
  • Handheld Surgical Devices
    • Forces & Spatulas
    • Refractors
    • Dilators
    • Graspers
    • Auxiliary Instrument
    • Cutter Instrument
  • Electrosurgical Devices

 

Application Outlook (Revenue, USD Billion; 2019–2030)

  • Neurosurgery
  • Obstetrics & Gynecology
  • Wound Closure
  • Cardiovascular
  • Plastic & Reconstructive Surgery
  • Orthopedic
  • Laparoscopy
  • Others

 

Geographic Segment Covered in the Report:

The Surgical Instruments report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)

• Europe (UK, Germany, France, and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

Key market aspects are illuminated in the report:

  • Executive Summary: It covers a summary of the most vital studies, the Global Surgical Instruments market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
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  • Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Surgical Instruments market, the years measured, and the study points.
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  • Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
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  • Manufacture by Region: This Global Surgical Instruments report offers data on imports and exports, sales, production and key companies in all studied regional markets.

 

Thank you for reading the report. Kindly note that we also offer customized reports according to the client’s requirements. Contact us to know more about the customization feature and our team will provide you with the best-customized report. 

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