Pune, India, Sept. 26, 2018 (GLOBE NEWSWIRE) -- The Global Surgical Equipment Industry has grown considerably due to the rise in the healthcare sector especially the surgery segment. The Surgical Equipment Market is anticipated to develop with a CAGR of 6.2% in the forecast period. The necessity to conduct major surgical procedures in hospitals to treat diseases and various trauma cases has grown at a tremendous pace in the past years due to a higher number of patient volumes. The wide range of applications of surgical equipment in ophthalmic surgery, cardiovascular surgeries, wound closure, orthopedic surgery, urology and others.
The rising incidence of chronic diseases such as obesity, skin diseases, growing number of surgeries in ambulatory surgical centers and hospitals, and the mounting geriatric population is fuelling the overall market growth in the forecast period for surgical equipments. In addition, the progress of the medical device market, a growing number of surgical centers, and government initiatives have also reflected positively on the market. Moreover, the development of the market is also controlled by numerous factors such as the elevated cost of surgical devices and stringent regulatory policies for several regulatory authorities. The emphasis on effectiveness and precision by medical professionals worldwide is fuelling the demand for precise and superior quality equipments.
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The escalated level of research and development activities in the market are improving the quality and the range of functions that can be performed by the equipments which will reduce healing times and recovery of patients undergoing elective and lifesaving surgical procedures which will improve market growth over the forecast period.
Surgical Equipment Market Segmentation
The segmentation of the surgical equipment market is carried out on the basis of application, product type, and end-user. On the basis of application, the market is segmented into wound closure, urology, cardiovascular surgeries, orthopedic surgery, neurosurgery, and others. On the basis of product type, the market is segmented into handheld instruments, surgical sutures and staplers, electrosurgical devices, monitoring devices, electrosurgical generators, and others. Handheld instruments are further segmented into sutures, forceps, visual scope, and others. Surgical sutures and staplers are further segmented into non-absorbable and absorbable sutures. Electrosurgical devices are further segmented into electrosurgical instruments such as electrosurgical pencils, HET bipolar system, electrosurgical generators, smoke evacuation system, and others. On the basis of end-user, the market is segmented into ambulatory surgical centers, hospitals and others.
Key Players
The eminent competitors in the Surgical Equipment Market for the surgical equipment market are B. Braun Melsungen AG (Germany), Ethicon US, LLC. (US), Integra LifeSciences Corporation (US), Covidien (US), CONMED Corporation (US), Erbe Elektromedizin GmbH (Germany), Medicon (US), Stryker Corporation (US), Smith & Nephew (UK), Synergetics USA, Inc. (US), KARL STORZ & Co. (US), and KLS Martin (Germany).
Latest Industry News
- Stryker Corporation is acquiring Invuity for USD 190 million. The company manufactures a line of surgical tools with built-in headlights, that make it easier for surgeons to see what they are doing during minimally invasive procedures.
- A UK-based medical equipment maker, CMR Surgical has revealed a next-generation surgical robotic system, called Versius, to deliver a portable option for minimal access surgery. The robotic system is designed to address the difficulties and offer better access during minimal access surgeries.
The Fast-Paced Technological Reforms in Surgical Equipment to Brighten Market Outlook
The Americas region holds the main share of the surgical equipment market. The development of the medical device sector, growing emphasis on quality care, and the accessibility to technologically-advanced surgical devices are the chief drivers for the progress of the market. The North American region holds the chief share, with the U.S. being the chief contributor to the progress of the market. In the U.S., the existence of major companies in the medical device industry and the widespread use of surgical devices will motivate the market. The South American region also exhibits great progress prospects with an upsurge in the demand for surgical devices.
In the European region, the U.K., Germany, and France are the key suppliers to the development of the market. The growing number of market companies producing surgical equipment, rising government support, and surge in the outpatient surgeries will drive the market in the European countries. Furthermore, growing healthcare expenditure by the European nations also contributes to the growth of the market.
The Asia Pacific, Surgical Equipment Market, is fueled by the vast demand for surgical devices and instruments, growing awareness around quality care in surgical centers and hospitals, and the increasing incidence of chronic diseases such as cardiovascular diseases. Australia and India show the most rapid growth in the market due to the accessibility to competent and skilled medical specialists and expanding healthcare expenditure. In the Middle East and Africa, the market growth is ascribed to the developing availability of specialty care services in countries such as Saudi Arabia and the United Arab Emirates. The African region displays stable growth with the demand for primary care services rising in the region.
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