Single-handed Surgical Suturing Devices in Surgical Equipment Market Advance Capabilities of Healthcare Facilities, Market to Reach Valuation of US$ 14.8 Bn by 2030-End

- Development of custom robotic surgical instruments for expanding patient outcomes has spurred research activities in market, while manufacturers are aiming at developing advanced retraction instruments for open surgeries

- Uptake in wide range of general surgeries key to major revenue share of the segment in the market, particularly in Asia Pacific & the Middle East

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Transparency Market Research

Sep 08, 2020, 10:30 ET

ALBANY, N.Y, Sept. 8, 2020 /PRNewswire/ -- Relentless focus of manufacturers of surgical equipment on increasing surgical outcomes drive the pace of innovation in the surgical equipment market. In this regard, single-handed surgical suturing devices and robotics for open surgeries as well as minimally invasive procedures are the two foremost areas for research and development activities, opine analysts at TMR. This has led numerous medtech companies to collaborate on unveiling custom instruments.

Two broad categories are endo mechanical and electrosurgical devices.

In the face of coronavirus (COVID-19) outbreak, their sterilization techniques have become more important than ever.

The global surgical equipment market is expected to clock CAGR of ~4% from 2020 to 2030. In 2019, the global valuation was pegged at US$ 9.7 Bn, and is projected to reach worth of US$ 14.8 Bn by 2030-end.

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Key Findings of Surgical Equipment Market Report

Surgical sutures and staples held the major share in 2019 of all the product types
General surgery was the leading application segment in 2019
Among all end users, hospitals have been contributing sizable revenues to global market
Regionally, North America held the major share in 2019
The North America market is trailed by Europe market
Competitive landscape is fairly fragmented

Explore 188 pages of top-notch research, incisive insights, and detailed country-level projections on Surgical Equipment Market (Product: Surgical Sutures & Staples, Surgical Handheld Instruments, and Electrosurgical Devices; Application: Ophthalmology, Gynecology, General Surgery, Bariatric Surgery, Plastic Surgery, and Others; and End User: Hospitals, Ambulatory Surgical Centers, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/183

Surgical Equipment Market: Key Driving Factors and Promising Avenues

Focus of medtech companies on improving outcomes in open surgeries has nudged them to spur investments in robotics, thereby opening new avenues in the surgical equipment market.
The shift from on-size-fits-all surgical equipment toward custom devices is a key trend in the surgical equipment market.
Rise in demand for high-precision devices for minimally invasive surgeries is a key trend underpinning innovative initiatives.
The aforementioned trends have also kicked in collaborations among medical device manufacturers. Most prominent efforts have come in the direction of improving retractors. Conventional retractors pose considerable challenge for surgeons, which underlines an unmet need in the surgical equipment market.
The use of high-grade steel cutting tools in ergonomically-designed sound cutting tools will pave way to the design of high-end surgical equipment.
The focus on reducing healthcare costs by healthcare providers has also fuelled the prospects in the surgical equipment market.
The demand for general surgeries related to small intestine, large intestine, stomach, liver, pancreas, appendix, bile ducts, and thyroid gland has spurred the expansion of surgical equipment market.

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Surgical Equipment Market: Key Impediments to Growth and Competitive Landscape

Preference for low-cost endosurgery instruments in rural healthcare facilities has constrained the scope of new surgical equipment, thereby restraining the market growth.
Presence of several players of regional and global presence has rendered the global surgical equipment market increasingly fragmented.
Demand for operation theaters in hospitals in the developing world offers substantial revenue streams for players.
Some of the key participants in the market are Healthium Ltd., Ethicon, Inc., Meril Life Science Pvt. Ltd., CONMED Corporation, Stryker, and Olympus Corporation.

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The Competitive Landscape can be segmented as follows:

Surgical Equipment Market, by Product

Surgical Sutures & Staples
Handheld Instrument

Grasping Instruments
Retractors and Dilators
Cutting Instruments
Others

Electrosurgical Devices

Generators
Consumables

Surgical Equipment Market, by Application

Ophthalmology
Gynecology
General Surgery
Bariatric Surgery
Plastic Surgery
Others

Surgical Equipment Market, by End User

Hospitals
Ambulatory Surgical Centers
Clinics

Surgical Equipment Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Surgical Face Masks Market: The surgical face masks market is projected to grow at a striking CAGR of ~11% during the assessment period. This indicates a continuous demand for disposable and reusable masks in hospital settings and diagnostic lab environments. Hence, innovators in the surgical face masks market are introducing high-speed converting lines to accelerate the production of masks.

Surgical Sutures Market: The global surgical sutures market is expected to be driven by increased effectiveness and safety of various surgeries owing to technological advancements. Various strategic decisions by market players such as partnerships and acquisitions for expanded network for distribution and product development are likely to boost the market.

Electrosurgical Devices Market: The global electrosurgical devices market is rising due to increased demand for effective medical procedures. Increased development in healthcare infrastructure is also leading to the rise in demand for the market. Soaring technological advancements in various parts of the world is fuelling the market growth significantly.

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