Surgical Equipment Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Surgical Equipment Market

Surgical Equipment Market By Product Segments(Surgical Sutures and Stapler, Handheld Surgical Devices(Forceps and Spatulas, Retractors, Dilators, Graspers, Auxiliary Instruments, Cutter Instruments, Other), Electrosurgical Devices), By Application Segments(Neurosurgery, Plastic and Reconstructive Surgery, Wound Closure, Obstetrics and Gynecology, Cardiovascular, Orthopedic, Others), By Category Segments(Reusable Surgical Equipment, Disposable Surgical Equipment), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2024-2032

Category: Medical Device Report Format : PDF Pages: 110 Report Code: ZMR-3273 Published Date: Feb-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 37.42 Billion USD 58.84 Billion 5.16% 2023

 

Surgical Equipment Market: Overview

The global Surgical Equipment market size accrued earnings worth approximately USD 37.42 Billion in 2023 and is predicted to gain revenue of about USD 58.84 Billion by 2032, is set to record a CAGR of nearly 5.16% over the period from 2024 to 2032. The study includes drivers and restraints for the surgical equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the surgical equipment market on a global level.

Global Surgical Equipment Market Size, 2018-2032Request Free Sample

In order to give the users of this report a comprehensive view of the surgical equipment market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the product, application, category, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

Surgical Equipment Market: Report Scope

Report Attributes Report Details
Report Name Surgical Equipment Market
Market Size in 2023 USD 37.42 Billion
Market Forecast in 2032 USD 58.84 Billion
Growth Rate CAGR of 5.16%
Number of Pages 204
Key Companies Covered Smith & Nephew Plc, KLS Martin Group, Zimmer Holdings, Inc., Johnson & Johnson, Stryker Corporation, Medtronic Plc, Olympus Corporation, Karl Storz GmbH & Co. Kg, B. Braun Melsungen AG, Conmed Corporation, and others.
Segments Covered By Product Segments, By Application, By Category Segments, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

The study provides a decisive view of the surgical equipment market by segmenting the market based on product, application, category, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with it further divided into major countries.

Surgical Equipment Market Growth Analysis

Companies in the healthcare sector that specialize in developing and manufacturing surgical devices and products are part of the surgical equipment and devices business. Surgical equipment is utilized in a wide range of surgical operations, including plastic surgery, neurosurgery, laparoscopic surgeries, urology, cardiovascular surgeries, and more. The increasing occurrence of chronic illnesses in elderly individuals and the growing need for laparoscopic procedures are significant factors driving the worldwide surgical equipment market.

The increasing need for less invasive operations is expected to stimulate market growth for surgical equipment, particularly equipment related to electrosurgeries. The numerous benefits of minimally invasive procedures, such as little blood loss, accurate incisions, fewer side effects, reduced post-surgery complications, shorter hospital stays, quicker recovery times, and high demand across all medical fields, are expected to drive market expansion. Other factors influencing the market are the increasing number of surgical procedures and technological advancements in new product development. One clause in the U.S. Patient Protection and Affordable Care Act (PPACA) mandates a 2.3% excise tax on medical equipment. This tax may create challenges for medical device manufacturers and hinder the expansion of the surgical equipment market. The intense competition characterized by price wars and uncertainties in reimbursement policies would hinder market expansion.

Global Surgical Equipment MarketRequest Free Sample

Surgical Equipment Market Regional Segmentation Analysis

North America holds the largest share of the market for surgical equipment followed by Europe and the Asia Pacific. The growth in North America and the European region is mainly driven by growing aging population, the advent of new technologies, advanced and well-developed healthcare infrastructure, high per capita income, and a favorable regulatory framework. The market for surgical equipment in the Asia Pacific is also expected to witness considerable growth rate due to rising need to fulfill unmet healthcare needs, advancing medical tourism industry, rising prevalence of chronic diseases which require surgical intervention and improving healthcare infrastructure in this region.

Some of the leading players in the surgical equipment market include

  • Smith & Nephew Plc
  • KLS Martin Group
  • Zimmer Holdings, Inc.
  • Johnson & Johnson
  • Stryker Corporation
  • Medtronic Plc
  • Olympus Corporation
  • Karl Storz GmbH & Co. Kg
  • B. Braun Melsungen AG
  • Conmed Corporation, and others.

This report segments the global surgical equipment market as follows:

By Product Segments

  • Surgical Sutures and Stapler
  • Handheld Surgical Devices
    • Forceps and Spatulas
    • Retractors
    • Dilators
    • Graspers
    • Auxiliary Instruments
    • Cutter Instruments
    • Other
  • Electrosurgical Devices

By Application Segments

  • Neurosurgery
  • Plastic and Reconstructive Surgery
  • Wound Closure
  • Obstetrics and Gynecology
  • Cardiovascular
  • Orthopedic
  • Others

By Category Segments

  • Reusable Surgical Equipment
  • Disposable Surgical Equipment

By Regional Segments

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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