Surgical Equipment/Instruments Market Analysis By Product (Sutures & Staplers, Handheld & Electrosurgical Devices), By Application (Neurosurgery, Plastic & Reconstructive Surgery, Obstetrics & Gynecology, Cardiovascular, Orthopedic), And Segment Forecasts, 2018 - 2025

Industry Insights

Global surgical equipment/instruments market was valued at USD 10.5 billion in 2016 and is expected to witness lucrative growth over the forecast period. Technological advancements with the introduction of electrosurgical instruments has led to the growth of surgical instruments market. This is due to the fact that there is a growing trend towards minimally invasive surgeries, such as electrosurgery.

Presence of numerous risk factors, such as hypertension, smoking, obesity, and diabetes, in country like India has led to high prevalence of cardiovascular diseases. Heart disorders such as blocked coronary artery can also be treated with coronary artery bypass graft surgery. Thus, with rising need for surgeries to treat chronic cardiovascular disorders in both developed and developing countries, there is an expected rise in the demand for surgical instruments.

U.S. surgical instruments market by product, 2014 - 2025 (USD Million)

On the basis of World Federation of Neurology statistics, 12 in every 100 patients die due to neurological disorders. Hence, the global burden of such chronic diseases is accelerating at an alarming rate, thereby, leading to high death rate. This in turn has led to high need for treatments and therapies, which has further raised the demand for surgical equipment.

Rising number of road accident cases is one of the significant drivers impacting the market growth positively. According to Association for Safe International Road Travel, nearly 2.35 million people are injured every year due to road accidents. Wound injury management, post any such accident is also commonly conducted with surgical sutures. Thus, the demand for surgical equipment is expected to grow during the study period.

Product Insights

Surgical sutures and staplers held the largest market share in 2016. This is mainly due to the fact that these equipment are most commonly used for wound closure. On the other hand, staplers are anticipated to be an emerging segment owing to rapid wound healing technique and reduction in the risk of infection in comparison to sutures.

Electrosurgical equipment is expected to witness lucrative growth over the forecast period due to its high demand in the field of minimally invasive surgeries. Electrosurgeries help in minimizing blood loss through tissue cauterization. Majority of market players are involved in the development of advanced electrosurgical equipment in order to cater to the rising needs of surgeons. Medtronic has a wide portfolio of these equipment, for instance, Aquamantys System and Bipolar Sealers, facilitating hemostasis during surgery.

Application Insights

Obstetrics and gynecology dominated the market in 2016 due to the rising number of childbirths throughout the world. In 2014, CDC estimated that 1,284,551 caesarean deliveries were conducted in the U.S. In addition, high prevalence of female reproductive organ disorders has given rise to more number of gynecologic surgeries. Minimally invasive gynecologic surgeries also lead to less postoperative pain, resulting into shorter hospital stays

Plastic and reconstructive surgeries are anticipated to show lucrative growth over the forecast period. This is due to the technological advancements and rising disposable income in countries, such as India, China, and Australia, which has encouraged the demand for these surgical procedures to improve esthetic appeal. Growing trend for cosmetic surgeries has also supported the growth of this segment.

U.S. surgical instruments market by application, 2016 (USD Million)

Regional Insights

North America held the largest market share in 2016 due to rising healthcare expenditure in the U.S. resulting in well-established hospital infrastructure. Moreover, availability of high skilled surgeons in this country is also supporting the growth of this regional market. Technological advancements associated with minimally invasive surgeries in the U.S. also add value to the market growth in the long run.

Asia Pacific is anticipated to exhibit highest CAGR over the forecast period owing to the growing focus towards medical tourism over the past decade in India. For instance, the cost-effective valve replacement surgeries conducted in India is motivating the foreign patients to undergo surgeries in this country, allowing a 70% to 80% reduction in cost. Thus, demand for surgical tools is projected to grow in this region in the coming years.

Competitive Insights

Few major manufacturers of this market include Zimmer Biomet Holdings, Inc.; Becton, Dickinson and Company; B. Braun Melsungen AG; Smith & Nephew plc; Stryker Corporation; Aspen Surgical Products, Inc.; Ethicon, Inc.; Medtronic; and Alcon Laboratories, Inc.

The key players are focusing on strategic initiatives such as new product development, mergers and acquisitions, and geographical expansions. For instance, in 2015, BD acquired Surgical Site Solutions, Inc. with an aim to expand its portfolio of surgical clippers. In 2016, Zimmer Biomet acquired Medtech, a company specializing in the manufacture of robotics for neurological and spine surgeries, aiming at entering the surgical robotics market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the surgical instruments/equipment market on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Surgical Sutures and Staplers

  • Handheld Surgical Devices

    • Forceps and Spatulas

    • Retractors

    • Dilators

    • Graspers

    • Auxiliary Instruments

    • Cutter Instruments

    • Others

  • Electrosurgical Devices

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Neurosurgery

  • Plastic and Reconstructive Surgery

  • Wound Closure

  • Obstetrics and Gynecology

  • Cardiovascular

  • Orthopedic

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa