Wilmington, Delaware, United States, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global surgical kits market is projected to flourish at a CAGR of 7% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 40 billion is anticipated for the market in 2031. As of 2023, the market for surgical kits is expected to close at US$20.8 billion.
The increasing number of surgical procedures being performed, the increasing global population, and advancements in medical treatments are the major factors driving the growth of the surgical kits market during the forecast period.
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Competitive Landscape
The global surgical kits industry is moderately consolidated, with a small number of large-scale vendors controlling majority share. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global surgical kits market report:
- Kimberly-Clark Corporation
- Medline Industries, Inc.
- Cardinal Health
- Paul Hartmann AG
- Mölnlycke Health Care AB
- Hogy Medical
- 3M
- OneMed
- Stradis Healthcare
- Zimmer Biomet
Key Developments in the Surgical Kits Market
- 3M has been working on innovative solutions for surgical site preparation. Their developments include kits that incorporate advanced antiseptic technologies to reduce the risk of surgical site infections.
- Johnson & Johnson, a major healthcare company, has been investing in sustainability initiatives for its surgical kits. They are working on reducing the environmental impact of single-use products while maintaining the highest standards of patient safety.
- Cardinal Health has been investing in providing comprehensive solutions that go beyond surgical kits. They are offering consulting services and support to healthcare facilities in optimizing surgical processes and cost-efficiency.
- Medtronic, a global medical technology company, has been focusing on enhancing the efficiency of surgical kits through technology. They have been working on integrating RFID (Radio Frequency Identification) and other tracking solutions to improve inventory management and streamline surgical processes.
The rising prevalence of chronic diseases such as cardiovascular diseases, cancer, and orthopedic conditions requires surgical interventions for diagnosis and treatment, driving the growth of the surgical kits market as surgical kits play a vital role in ensuring sterile and organized procedures.
Minimally invasive surgical techniques are gaining popularity due to their benefits like shorter recovery times and reduced scarring. The demand for specialized surgical kits tailored for these procedures is increasing.
The growing aging population globally requires more medical interventions, including surgeries. Surgical kits are essential for a wide range of procedures needed to address age-related health issues.
Key Takeaways from the Market Study
- As of 2022, the surgical kits market was valued at US$ 19.4 billion
- By type, the disposable segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on the procedure, general surgery segment accounts for the highest market share
- Based on end-users, the hospital segment is expected to generate significant revenue during the forecast period, due to the increased number of surgeries performed in hospital settings
Surgical Kits: Key Trends and Opportunistic Frontiers
- The increasing emphasis on infection prevention and control in healthcare settings drives the demand for high-quality surgical kits. Surgical kits are designed to maintain a sterile environment during surgical procedures, reducing the risk of post-operative infections.
- The growing medical tourism and increased healthcare spending in emerging economies boost the market demand.
- The growing need for customized and specialized instruments and kits for specific procedures. The ability of manufacturers to provide customized surgical kits tailored to different surgical specialties contributes to market growth.
- Increasing technological advancements in surgical kits, such as incorporating specialized instruments, improved materials, and ergonomic designs. These advancements enhance the efficiency and safety of surgical procedures.
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Surgical Kits Market – Regional Analysis
- North America, particularly the United States, has a well-established healthcare system and a high demand for surgical procedures. The region's advanced healthcare infrastructure, technological innovations, and emphasis on infection control contribute to the growth of the surgical kits market.
- The Asia-Pacific region, led by countries like China, India, and Japan, is witnessing significant growth in healthcare infrastructure and medical tourism. Rising awareness about the importance of sterile procedures and increasing surgical procedures in emerging economies drive the demand for surgical kits.
Surgical Kits Market- Key Segments
Type
- Disposable
- Reusable
Procedures
- Ophthalmology
- Orthopedic
- Hip
- Knee
- Others
- Neurosurgery
- General Surgery
- Laparoscopy
- Laparotomy
- Others
- Gynecology
- Urology
- Ear, Neck & Head
- Cardiac Surgery
- Others
End-user
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
Related Reports:
Disposable Surgical Kits Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025
Powered Surgical Instruments Market – Global Industry Analysis, Size, Share, Trends, Growth, and Forecasts, 2021-2031
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