Surgical Equipment Market Size to Worth Around USD 40.24 BN by 2032
The surgical equipment market will experience rapid growth due to increasing research and development expenditure in the industry during the forecast period. North America emerged as the most significant global surgical equipment market, with a 40% market revenue share in 2022.
Newark, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 17 billion in 2022 global surgical equipment market will reach USD 40.24 billion in 2032. Over 86% of fatalities worldwide each year are caused by cardiovascular diseases, including stroke, and various acute respiratory problems, according to the WHO. Additionally, the growing elderly population is probably going to contribute to the rising illness burden of cardiovascular diseases. The demand for improved treatment approaches, including surgical treatments, is rising as non-communicable disease prevalence and incidence rise. The demand for surgical equipment will rise as the number of procedures rises. Additionally, the expansion of the global surgical equipment market is projected to be boosted by the rise in accidents, sports injuries, and other trauma situations. Rising government healthcare spending is expected to drive the worldwide surgical equipment market.*Request a Sample Copy of the Research Report: https://www.thebrainyinsights.com/enquiry/sample-request/13611**Key Insight of the Global Surgical Equipment Market**North America is expected to dominate the market during the forecast period.*The region's expansion is driven by the well-established healthcare sector, which has the requisite facilities, personnel, and tools. The increased demand for elective procedures results from the rising prevalence of chronic diseases, which will accelerate market expansion. The market will benefit from the rise of trauma and accident cases. The region's growing need for surgical equipment is satisfied by the existence of large producers. The market participants also spur industry innovation.*In 2022, the handheld surgical equipment segment dominated the market with the largest market share of 39% and revenue of 6.63 billion.*The product type segment is divided into surgical sutures and staplers, electrosurgical devices, handheld surgical equipment and others. In 2022, the handheld surgical equipment segment dominated the market with the largest market share of 39% and revenue of 6.63 billion.*In 2022, the obstetrics and gynaecology segment dominated the market with the largest market share of 22% and revenue of 3.74 billion.*The application segment is divided into neurosurgery, wound closure, obstetrics and gynaecology, microvascular, cardiovascular, laparoscopy, veterinary, plastic and reconstructive surgeries, urology, thoracic surgery, orthopaedic surgery, ophthalmic, dental and others. In 2022, the obstetrics and gynaecology segment dominated the market with the largest market share of 22% and revenue of 3.74 billion.*In 2022, the hospitals' segment dominated the market with the largest market share of 43% and revenue of 7.31 billion.*The end-user segment is divided into hospitals, ambulatory surgical centres, clinics, and others. In 2022, the hospitals' segment dominated the market with the largest market share of 43% and revenue of 7.31 billion.*Advancement in market*March 2023 - A South Korean team recently achieved success when their robot safely returned to an extraction spot after delivering contrast dye to an artery in a pig. The findings were released in IEEE Robotics and Automation Letters. Magnets were used to direct untethered robots externally. The robotically aided magnetic navigation system for endovascular intervention robots is known by its abbreviation I-RAMAN. The tethered magnetic robot can use the 3D map to navigate independently and conduct procedures like tunnelling through the lesion.*Quick Buy – https://www.thebrainyinsights.com/buy-now/13611/single**Market Dynamics **Driver: The rising prevalence of chronic illnesses.*The global surgical equipment market will be driven by the rising demand for surgical procedures to treat chronic diseases like cardiovascular, pulmonary, and gastrointestinal illnesses as a result of lifestyle changes such as poor diet, insufficient exercise, and increased alcohol consumption. The need for elective procedures will rise due to the growing elderly, diabetic, and obese populations. The rising incidence of traumas and accidents will drive the need for emergency procedures. Additionally, the rising disposable income has raised the demand for cosmetic procedures to improve facial and general physical appearance. The expanding government initiatives to enhance healthcare delivery systems and increase access to important procedures like ophthalmology, cardiovascular, and pulmonary surgeries to enhance quality of life will support market expansion.*Restraints: Poor sterilization practices make surgical equipment less reusable.*Post-operative infections are one of the most frequent causes of death following surgical surgery. Using improperly sterilized surgical instruments, environmental factors, or drugs can all contribute to an infection. Sterilization of surgical instruments is a labour-intensive operation that only skilled and experienced experts can do. It is a demanding and drawn-out task. Sterilization is carried out hastily due to a shortage of workers and surgical supplies, which has disastrous effects on people's health. Equipment's decreased capacity for reuse increases medical waste and promotes the ineffective use of surgical tools. As a result, the market's expansion will be hampered by subpar sterilization practices.*Opportunities: Rising research and development costs drive the industry's increased innovation.*Due to the increasing demand for cosmetic procedures, the industry is innovating to improve and increase surgical equipment's usefulness, efficiency, and life cycle. The use of robotics in the medical field has prompted the creation of automated, compact, and efficient surgical tools that can be used to carry out challenging operations from outside the body. New technologies are also being introduced to speed the sterilization of surgical equipment To assure safety, sanitation, and little downtime. Similarly, RFID tags are included with surgical instruments to track their locations and lower the likelihood of leaving surgical devices inside the patient's body. Therefore, the rising R&D expenditures pushing innovation in the sector will provide lucrative prospects for expanding the worldwide surgical equipment market over the projected period.*Challenges: The lax regulatory infrastructure in developing economies.*The lax regulatory infrastructure in developing economies combined with the shortage of funding, manufacturers, supply chain constraints and inaccessible and unaffordable healthcare makes surgeries an unfeasible option for the population. Geopolitical tensions, natural disasters and poor policy decisions leading to economic collapse and shortage of life-saving surgical equipment in countries like Pakistan and Sri Lanka have highlighted the grave consequences of lac regulation in the economy. Therefore, the lax regulatory infrastructure in developing economies will lead to sub-par surgical equipment manufacturing and use for inadequate sterilization processes, negatively impacting the population and challenging the market's growth.*Schedule a Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13611**Some of the major players operating in the global surgical equipment market are:*• B. Braun Melsungen AG
• Becton, Dickinson and Company
• Boston Scientific Corporation
• Integra Life Sciences Holdings Corporation
• Johnson & Johnson
• Medtronic Plc
• Novartis International AG
• Smith & Nephew Plc
• Stryker Corporation
• Zimmer Biomet Holdings Inc.*Key Segments cover in the market:*By Product Type• Surgical Sutures and Staplers
• Electrosurgical Devices
• Handheld Surgical Equipment
• OthersBy Application• Neurosurgery
• Wound Closure
• Obstetrics and Gynaecology
• Microvascular
• Cardiovascular
• Laparoscopy
• Veterinary
• Plastic and Reconstructive Surgeries
• Urology
• Thoracic Surgery
• Orthopaedic Surgery
• Ophthalmic
• Dental
• OthersBy End User• Hospitals
• Ambulatory Surgical Centres
• Clinics
• OthersBy Region• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)*About the report:*The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*About The Brainy Insights:*The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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