The global surgical equipment market share is poised to grow significantly and strike a CAGR of 6.2% over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in an extensive study. The growth of the global surgical equipment market is stemmed from the massive rise in the volume of surgeries across the globe. Rise in the number of cardiovascular, orthopedic, ophthalmic, and neurosurgeries have generated greater demand for surgical equipment such as electrosurgical devices, surgical sutures and staples, handheld instruments, electrosurgical generators, and monitoring devices which stimulates the growth of the market. The use of advanced surgical equipment is essential for the success rate of surgeries. In addition, the surging prevalence of chronic diseases on a global scale has been a plus for the market growth. Innovation in design, material, and quality which can ensure longer lifecycle is also expected to boost the growth of the market. Other factors contributing to the growth of the market include the mounting number in the establishment of medical facilities in diverse geographies such as hospitals, clinics, ambulatory surgical centers, and others. On the flip side, the growth of the global surgical equipment market might be hindered by hefty costs of surgical equipment and stringent regulatory norms monitoring surgical equipment industry.
Segmentation
The global surgical equipment market has been segmented based on product type, application, and end-user.
By product type, the market global surgical equipment market has been segmented into surgical sutures and staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices, and others. The Surgical sutures and staplers segment has been further segmented into absorbable and non-absorbable sutures. The handheld instruments segment has been further segmented into forceps, sutures, visual scope, and others. The electrosurgical devices segment has been further segmented into electrosurgical instruments such as HET bipolar system, electrosurgical pencils, smoke evacuation system, electrosurgical generators, and others.
By application, the global surgical equipment market has been segmented into wound closure, neurosurgery, cardiovascular surgeries, urology, orthopedic surgery, and others.
By end-user, the global surgical equipment market is segmented into hospitals, ambulatory surgical centers, and others.
Regional Analysis
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are the key markets for surgical equipment.
The Americas is at the forefront of the global surgical equipment market owing to the rapid expansion of the medical device industry in the region. The growing focus on quality care and the availability of technologically-advanced surgical devices also favor market growth. In addition, the presence of various key medical device manufacturers in the region and increasing volume of surgeries augments the growth of the market. Other boosting a factor include high healthcare expenditure and the rise in the prevalence of chronic diseases.
Europe too is a significant market driven by the growing presence of key medical device manufacturers in the region. High government support and favorable medical device policies support the growth of the market. Expanding healthcare spending in the developed economies of the region such as the UK and Germany are likely to foster the growth of the market.
APAC market is poised to showcase rapid growth over the forecast period driven by the ever-increasing prevalence of chronic diseases in the region and subsequent rise in surgeries. High healthcare expenditure in the developing economies of the region such as China, Japan, Australia and India are likely to catapult the growth of the market on an upward trajectory. Availability of skilled healthcare professionals also acts as a plus for the growth of the market.
The MEA market is spurred by increasing healthcare expenditure in the Gulf nations and growing demand for primary care services in the Africa region.
Competitive Landscape
The eminent players in the global surgical equipment market include Synergetics USA, Inc. (US), KLS Martin (Germany), Erbe Elektromedizin GmbH (Germany), B. Braun Melsungen AG (Germany), KARL STORZ & Co. (US), Smith & Nephew (UK), Ethicon US, LLC. (US), Stryker Corporation (US), CONMED Corporation (US), MEDICON (US), Integra LifeSciences Corporation (US), and COVIDIEN (US).
Industry Updates
November 2018- BandGrip, a company focused on innovation of wound closure devices, introduced the Micro-Anchor Skin Closures, a wound closure device for better healing results. The new device is based on micro anchor technology which facilitates better grip compared to traditional wound closure devices.
Browse More Medical Devices Reports @ https://www.marketresearchfuture.com/categories/medical-devices-market-report
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Magarpatta Road, Hadapsar,
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Phone: +1 646 845 9312
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Segmentation
The global surgical equipment market has been segmented based on product type, application, and end-user.
By product type, the market global surgical equipment market has been segmented into surgical sutures and staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices, and others. The Surgical sutures and staplers segment has been further segmented into absorbable and non-absorbable sutures. The handheld instruments segment has been further segmented into forceps, sutures, visual scope, and others. The electrosurgical devices segment has been further segmented into electrosurgical instruments such as HET bipolar system, electrosurgical pencils, smoke evacuation system, electrosurgical generators, and others.
By application, the global surgical equipment market has been segmented into wound closure, neurosurgery, cardiovascular surgeries, urology, orthopedic surgery, and others.
By end-user, the global surgical equipment market is segmented into hospitals, ambulatory surgical centers, and others.
Regional Analysis
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are the key markets for surgical equipment.
The Americas is at the forefront of the global surgical equipment market owing to the rapid expansion of the medical device industry in the region. The growing focus on quality care and the availability of technologically-advanced surgical devices also favor market growth. In addition, the presence of various key medical device manufacturers in the region and increasing volume of surgeries augments the growth of the market. Other boosting a factor include high healthcare expenditure and the rise in the prevalence of chronic diseases.
Europe too is a significant market driven by the growing presence of key medical device manufacturers in the region. High government support and favorable medical device policies support the growth of the market. Expanding healthcare spending in the developed economies of the region such as the UK and Germany are likely to foster the growth of the market.
APAC market is poised to showcase rapid growth over the forecast period driven by the ever-increasing prevalence of chronic diseases in the region and subsequent rise in surgeries. High healthcare expenditure in the developing economies of the region such as China, Japan, Australia and India are likely to catapult the growth of the market on an upward trajectory. Availability of skilled healthcare professionals also acts as a plus for the growth of the market.
The MEA market is spurred by increasing healthcare expenditure in the Gulf nations and growing demand for primary care services in the Africa region.
Competitive Landscape
The eminent players in the global surgical equipment market include Synergetics USA, Inc. (US), KLS Martin (Germany), Erbe Elektromedizin GmbH (Germany), B. Braun Melsungen AG (Germany), KARL STORZ & Co. (US), Smith & Nephew (UK), Ethicon US, LLC. (US), Stryker Corporation (US), CONMED Corporation (US), MEDICON (US), Integra LifeSciences Corporation (US), and COVIDIEN (US).
Industry Updates
November 2018- BandGrip, a company focused on innovation of wound closure devices, introduced the Micro-Anchor Skin Closures, a wound closure device for better healing results. The new device is based on micro anchor technology which facilitates better grip compared to traditional wound closure devices.
Browse More Medical Devices Reports @ https://www.marketresearchfuture.com/categories/medical-devices-market-report
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Us:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
Phone: +1 646 845 9312
Email: sales@marketresearchfuture.com
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