Surgical Equipment Market size to reach USD 21.4 Bn by 2029 at a growth rate of 8.6 percent over the forecast period

Dublin, May 04, 2023 (GLOBE NEWSWIRE) — Maximize Market Research, the global Medical Devices business intelligence firm, has published a market intelligence report the on “Surgical Equipment Market”. The total global market for the Surgical Equipment Market was USD 14.2 Bn in 2022 and is expected to grow at a CAGR of 8.6 percent over the forecast period to reach USD 21.4 Bn by 2029.

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Surgical Equipment Market Scope and Research Methodology

The report provides an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation and gives a clear business view to the Investors. The Surgical Equipment Market report presents an analysis of market size, market share, and growth, trends, cost structure, statistical and comprehensive data of the global market.

The Surgical Equipment Market report covers the key players in the Surgical Equipment industry, including company profile, revenue, product specifications, product sales, price, and gross margin sales, market share as well as an in-depth analysis of the market. The report covers competitive analysis of market drivers, restraints, opportunities, and growth. To analyze the impact of micro-economic and macro-economic factors on the market, PORTER and PESTLE analyses were conducted. SWOT analysis was used to study the strengths and weaknesses of the surgical equipment Industry. The bottom-up approach was used to estimate the Surgical Equipment Market size.

Surgical Equipment Market Overview

Surgical Equipment is a tool or device for performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue. There are different kinds of surgical Equipment and tools have been invented. Some surgical Equipment is designed for general use in all sorts of surgeries, while others are designed for only certain specialties or specific procedures.

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Increasing Demand for Surgeries to Boost Surgical Equipment Market

The factors that boost the surgical equipment market growth include an increase in preference for robotic-assisted surgery and surge in geriatric population, which is highly susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health conditions. Another Reason for the surgeries is the rise in obesity rates, leading to an increase in bariatric surgeries. Technological advancements have also enabled more complex surgeries to be performed, attracting more patients. Moreover, growing awareness and acceptance of cosmetic surgeries have contributed to the rising demand for elective procedures

North America region dominates the Surgical Equipment Market growth over the forecast period

North America held the largest revenue share of over 35.0% in 2022. Factors such as high healthcare expenditure and the presence of well-established hospitals and major players operating in the U.S. are contributing to the growth of the market in the Surgical Equipment industry. For example, as per the recent report of the national center for health statistics, approximately 50 million surgeries are performed every year in the U.S. A high rate of obesity in the country and an increasing number of FDA approvals for the non-invasive procedure are expected to support the development of the market.

Surgical Equipment Market Segmentation

Based on Product Type, most of the Surgical Equipment market’s revenue is controlled by the surgical sutures and stapler category. The surgical sutures and staplers segment dominated the market with a revenue share of more than 52.0 percent in 2022.

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Based on Applications, the Surgical Equipment market revenue is controlled by the consumer category. The other’s segments held the largest revenue share of over 25.0 percent in 2022. The obstetrics and gynecology segment held the second-largest share in 2022

By Product

• Surgical Sutures and Staplers
  • Surgical Sutures
  • Surgical Staplers
• Handheld Surgical Devices
  • Forceps & Spatulas
  • Retractors
  • Dilators
  • Graspers
  • Auxiliary Instruments
  • Cutter Instruments
• Electrosurgical Devices
• Other surgical equipment
  • Surgical Hernia Mesh
  • Surgical Glue/Sealant & Hemostasis
  • Powered Surgical Equipment

By Category

• Reusable Surgical Equipment,
• Disposable Surgical Equipment

By Application

• Neurosurgery
• Plastic & Reconstructive Surgeries
• Wound Closure
• Urology
• Obstetrics & Gynecology
• Thoracic Surgery
• Microvascular
• Cardiovascular
• Orthopedic Surgery
• Laparoscopy
• Ophthalmic application
• Veterinary application
• Dental application
• Other

By Material Type

• stainless steel
• titanium
• ceramics
• Others

By End-User

• Hospitals,
• Ambulatory Surgical Centers
• Others

Surgical Equipment Market Key Players include
• B. Braun Melsungen Ag,
• Boston Scientific Corporation,
• Conmed Corporation,
• Cousin-Biotech,
• Entrhal Medical Gmbh,
• Fuhrmann Gmbh,
• Integra Life Sciences Holdings Corporation,
• Johnson & Johnson,
• Kls Martin Group,
• Medtronic Plc,
• Novartis International Ag,
• Peters Surgical Sasu,
• Smith & nephew plc
• Olympus Corporation
• Erbe Elektromedizin GmbH
• Integra LifeSciences
• Getinge AB

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Key questions answered in the Surgical Equipment Market are:

• What is Surgical Equipment Market?
• What was the Surgical Equipment Market size in 2022?
• What is the expected Surgical Equipment Market size by 2029?
• What is the growth rate of the Surgical Equipment Market?
• Which are the factors expected to drive the Surgical Equipment Market growth?
• Which factors are expected to restrain the Surgical Equipment Market growth?
• Which segment dominated the Surgical Equipment Market growth?
• What is the demand pattern for the Surgical Equipment Market?
• Which region held the largest share of the Surgical Equipment Market?
• Who are the key players in the Surgical Equipment Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by Product, Category, Application, Material Type and End-User.
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.