Report Overview

2023

Base Year

2017-2023

Historical Year

2024-2032

Forecast Year

Global Surgical Equipment Market Outlook

The global surgical equipment market value in 2023 was USD 25.80 billion, driven by the increasing demand for minimally invasive surgeries across the globe. The market size is anticipated to grow at a CAGR of 7.5% during the forecast period of 2024-2032 to achieve a value of USD 49.46 billion by 2032.

Global Surgical Equipment Market

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Advancements in Minimally-Invasive Procedures to Augment the Growth of Surgical Equipment Industry

The market growth of surgical equipment is steadily expanding, owing to a rising preference for minimally invasive operations. In addition, the increased frequency of chronic illnesses and accident cases has boosted the market expansion. The advancements in minimally invasive procedures seen in the last few years are evidence of significant surgical equipment advancements that have contributed to the market growth in the historical period. Surgeons have been able to harness their expertise to deliver increased precision in complex procedures, thanks to research and development activities over the previous few years.

North America to Hold the Major Portion of the Market for Surgical Equipment

Geographically, North America led the overall surgical equipment industry. The introduction of new technology, growing elderly population, favourable regulatory environment, and high discretionary income of consumers were the primary drivers of growth in North America. Meanwhile, the Asia Pacific market is expected to grow at a rapid pace over the forecast period. This healthy growth within the region could be attributed to the rising unmet healthcare demands, improved healthcare infrastructure in the region, and an increase in the incidence of chronic diseases requiring surgical treatments.

Surgical Equipment: Market Segmentation

Surgical equipment refers to a surgical instrument required during a surgery or operation. It is a specially constructed tool or device designed for performing specified actions or achieving desired outcomes, such as changing biological tissue or providing access to examine it.

Global Surgical Equipment Market by Segment

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The classification of the market on the basis of product are:

  • Surgical Sutures and Staplers 
    • Surgical Sutures
    • Surgical Staplers
  • Handheld Surgical Equipment 
    • Forceps and Spatulas
    • Retractors
    • Dilators
    • Graspers
    • Auxiliary Instruments
      • Clamps 
      • Cannulas 
    • Cutter Instruments
      • Trocars 
      • Lancets 
      • Scissors 
    • Ligating Clips 
    • Others
  • Electrosurgical Devices 
  • Others

By category, the market is divided into:

  • Reusable Surgical Equipment 
  • Disposable Surgical Equipment 

Market can be classified on the basis of its application as:

  • Neurosurgery 
  • Plastic and Reconstructive Surgeries
  • Wound Closure 
  • Urology 
  • Obstetrics and Gynecology 
  • Thoracic Surgery 
  • Microvascular
  • Cardiovascular Surgery 
  • Orthopaedic Surgery 
  • Laparoscopy 
  • Ophthalmic application 
  • Veterinary application 
  • Dental application 
  • Others

The EMR report looks into the regional markets of surgical equipment like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Surgical Equipment Market by Region

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Rise in Surgeries to Boost the Market Expansion of Surgical Equipment

The surgical equipment industry is being aided by the rising cases of surgeries. Surgeries, especially general surgery, which includes the oesophagus, appendix, stomach, large intestine, small intestine, liver, gallbladder, pancreas, and bile ducts, has exhibited high growth in recent years. Further, the rising prevalence of chronic diseases around the world has been a major driver of the market growth. In addition, an increase in the number of cases of thyroid issues around the world has fueled the demand for sophisticated surgical equipment that allows for more precise treatment. This is expected to have a positive effect on the surgical equipment industry.

Key Industry Players in the Global Surgical Equipment Market

The report presents a detailed analysis of the following key players in the global surgical equipment market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • B. Braun Melsungen AG 
  • CONMED Corporation 
  • Cadence Inc. 
  • Olympus Corporation 
  • Stryker Corporation 
  • Medtronic plc
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Category
  • Application
  • End User
  • Region
Breakup by Product
  • Surgical Sutures and Staplers
  • Handheld Surgical Equipment
  • Electrosurgical Devices
  • Others
Breakup by Category
  • Reusable Surgical Equipment
  • Disposable Surgical Equipment
Breakup by Application
  • Neurosurgery
  • Plastic and Reconstructive Surgeries
  • Wound Closure
  • Urology
  • Obstetrics and Gynecology
  • Thoracic Surgery
  • Microvascular
  • Cardiovascular Surgery
  • Orthopaedic Surgery
  • Laparoscopy
  • Ophthalmic application
  • Veterinary application
  • Dental application
  • Others
Breakup by End User
  • Hospitals & Clinics
  • Ambulatory Surgical Centres
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • B. Braun Melsungen AG
  • CONMED Corporation
  • Cadence Inc.
  • Olympus Corporation
  • Stryker
  • Medtronic
  • Boston Scientific Corporation
  • ENTRHAL MEDICAL GMBH
  • Zimmer Biomet
  • Aspen Surgical Products, Inc.
  • Becton, Dickinson and Company
  • Ethicon, Inc.
  • Smith+Nephew
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global market surgical equipment attained a value of USD 25.80 billion.

The market is anticipated to grow at a CAGR of 7.5% during the forecast period of 2024-2032 to reach a value of USD 49.46 billion by 2032.

The major drivers include the growing inclination towards minimally-invasive procedures, rising cases of surgery, and growing demand for advanced surgical equipment.

The market is expected to be defined by the ongoing technological advancements in the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products of surgical equipment in the industry are surgical sutures and staplers, handheld surgical equipment, and electrosurgical devices, among others.

The significant categories of the product are reusable surgical equipment and disposable surgical equipment.

The different applications of the product are neurosurgery, plastic and reconstructive surgeries, wound closure, urology, obstetrics and gynecology, thoracic surgery, microvascular, cardiovascular surgery, orthopaedic surgery, laparoscopy, ophthalmic application, veterinary application, and dental application, among others.

The major players in the industry are B. Braun Melsungen AG, CONMED Corporation, Cadence Inc., Olympus Corporation, Stryker Corporation, and Medtronic plc, among others.

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