The global surgical equipment market is anticipated to reach a value of USD 20.3 billion by 2025, according to a new report by Grand View Research, Inc. The rapidly escalating number of minimally invasive surgical procedures throughout the world is expected to support market growth.
Chronic diseases are one of the major leading causes of surgeries at a global level. Increasing prevalence of chronic diseases, such as neurological and cardiovascular disorders, is affecting the society to a great extent. As a result of which, the number of surgeries is increasing. This is mainly due to the fact that surgery is the primary treatment for people suffering from such disorders. In addition, minimally invasive surgeries are also trending as treatment for heart diseases.
Road and other accidents are also expected to drive the surgical instruments market over the forecast period. This is due to the fact that accidents might lead to severe injuries. As a result of which, wound closure surgeries are anticipated to rise, thereby, supporting the demand for surgical equipment.
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Further key findings from the study suggest:
- Surgical sutures and staplers dominated the surgical equipment market in 2015 due to its high cost and greater usage in wound closure treatments
- Electrosurgical equipment are expected to show lucrative CAGR over the forecast period owing to increasing adoption of minimally invasive surgeries
- Obstetrics and gynecology held the largest market share in 2015, owing to growing number of caesarean surgeries worldwide
- Plastic Surgery Statistics Report data showcased 1.7 million cosmetic surgical procedures in 2015 and a 2% rise from the 2014 data. This infers a significant rise in plastic and reconstructive surgeries in the coming years
- North America contributed toward the largest revenue in 2015 owing to well-established infrastructure and technologically advanced instruments for surgeries
- Asia Pacific is projected to witness an attractive CAGR over the forecast period, primarily due to increasing prevalence of chronic cardiovascular diseases
- Few key players for the market include B. Braun Melsungen Ag; Smith & Nephew plc; Zimmer Biomet Holdings, Inc.; Stryker Corporation; Alcon Laboratories, Inc.; Aspen Surgical Products, Inc.; Medtronic, Inc.; Ethicon, Inc.; and Becton, Dickinson and Company
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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