Surgical Devices Market Size, Share, Growth, Trends, and Forecast 2032

The global Surgical Devices market size accrued earnings worth approximately USD 17.25 Billion in 2023 and is predicted to gain revenue of about USD 36.84 Billion by 2032, is set to record a CAGR of nearly 8.80% over the period from 2024 to 2032

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Global Surgical Devices Market: Overview

Surgical devices are used to perform various functions like facilitating access to the site of operations, holding tissues and organs back, coagulation of blood, and wound covering during the surgical operations. Moreover, these tools assist in the physical modification of different biological tissues or facilitate access to the internal body. Such devices are used in the inception during the surgical procedure of advanced technologies like minimally invasive surgical procedures.

Global Surgical Devices Market: Growth Factors

The growing number of surgical procedures across the globe is driving the growth of the global surgical devices market. Moreover, the surging number of cardiac-related diseases, high prevalence of osteoporosis, and increasing awareness of people are anticipated to drive the growth of the global surgical devices market. The growing inclination of people toward minimally invasive, computer-assisted, and robotic based surgery is supporting the growth of the market globally. The growing technological advancements coupled with the adoption of advanced medical surgeries are positively shaping the trajectory of the global surgical devices market during the forecast period.

However, the robotic and computer-based surgeries are still in their nascent stages but the growing scope of such surgeries is likely to fuel the market growth. Robotics has wide applications in heller myotomy, fundoplication, cholecystectomy, and many others. The growing investment by the government across the globe to strengthen its healthcare infrastructure and medical facility is bolstering the growth of the global surgical devices market. Moreover, the growing initiatives and health policies from governments to reduce the rising burden of diseases globally further boost the market growth.

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Surgical Devices Market: Report Scope

Global Surgical Devices Market: Segmentation

The global surgical devices market can be segmented into products, applications, types, and regions.

By product, the market can be segmented into electrosurgical devices, handheld equipment, surgical sutures & staplers, and others. The handheld equipment product segment holds the largest share in the global surgical devices market. The handheld equipment segment can further be segmented into graspers, dilators, retractors, cutter instruments, auxiliary instruments, and forceps & spatulas.

By applications, the market can be segmented into dental application, veterinary application, ophthalmic application, laparoscopy, orthopedic surgery, cardiovascular, microvascular, thoracic surgery, obstetrics & gynecology, urology, wound closure, plastic & reconstructive surgeries, and neurosurgery. The orthopedic surgery segment holds hegemony over others due to the surging cause of bone diseases and increasing geriatric populations across the globe. The advancing imaging technology and diagnostics methods are likely to drive the growth of the segment during the forecast period. The wound closure segment is also expected to witness significant growth during the forecast period due to the rising number of road accidents

By type, the market can be segmented into disposable surgical equipment and reusable surgical equipment. The disposable surgical equipment accounts for the largest share in the global surgical devices market owing to the increasing demand for disposable supplies like catheters, syringes, needles, and many others.

Global Surgical Devices Market: Regional analysis

North America accounts for the largest share in the global surgical devices market due to the favorable reimbursement policies coupled with increasing supportive initiatives from the government. Moreover, the ease in availability of the advanced products for training and surgery sessions for the physicians also fuel the regional market growth.

Asia Pacific is anticipated to witness huge growth owing to the growing investments from the government to strengthen health care systems along with the growing awareness of the people.

Global Surgical Devices Market: Competitive Players

Some of the significant players in the global surgical devices market are

• SIM Surgical
• Hospira
• Dextera Surgical
• Zimmer Biomet
• Stryker Corporation
• KLS Martin Group
• Integral Lifesciences Holdings Corporation
• Fuhrmann GMBH
• Entrhal Medical GMBH
• Cousin-Biotech
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Smith & Nephew PLC
• Novartis International AG
• Conmed Corporation
• Johnsons & Johnsons
• Peters Surgical SASU
• Medtronic Plc.
• CareFusion Corp.
• 3M Healthcare
• Smith & Nephew
• Integra LifeSciences
• Erbe Elektromedizin GmbH
• Conmed Corp.
• Boston Scientific Corp.
• and Covidien Plc. 

Global Surgical Devices Market: Segment Analysis

By Device Type

• Disposable Surgical Device
• Reusable Surgical Device
• Medical robotics & computer-assisted devices

By Product

• Surgical Sutures and Staples
• Auxiliary Instruments
• Energy-based & Powered Instruments
• Others

By Application

• Orthopedic Surgery
• Laparoscopy
• Neurosurgery
• Wound Closure
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.