The global general surgery devices market was valued at USD 7.0 billion in 2015 and is expected to reach a value of USD 17.5 billion by 2024, based on a new study by Grand View Research, Inc. The growth of the market is attributed to the increasing geriatric population base, government support and continual technological advancements launched by the key players. Demand for advanced devices is growing steadily due to heightened awareness levels of newer technologies and the subsequent increase in the adoption of minimally invasive and computer-assisted treatments.
Technological development in the industry is favoring the emergence of minimally invasive procedures, thereby increasing patient safety and shortening hospital stays. Several technological changes have been witnessed in varied segments of abdominal and hernia surgeries; cardiac, trauma and burn surgeries; and in breast and plastic surgeries. For instance, thymectomy is a newly developed procedure for my asthenia gravis patients.
Globally, rise in the number of procedures is one of the key factors driving the overall market. According to a study, general surgery accounts for an average 8% of all procedures in ambulatory surgical centers nationwide.
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Further Key Findings from the Study Suggest:
By product, disposable surgical supplies accounted for the highest market share in 2015 due to the growing demand for disposable products, rise in overall number of surgeries, and their comparatively high one-time cost as compared to reusable products.
Orthopedic surgery devices accounted for the largest share in 2015 due to an increase in global geriatric population and high incidence of bone diseases such as osteoporosis and arthritis.
Geographically, North America accounted for the highest share due to a large number of surgical procedures performed in the region. This is attributed to the presence of a considerably-sized geriatric population, rising prevalence of lifestyle-associated diseases, presence of major market players, and government initiatives supporting advancements in surgeries.
Asia Pacific is expected to grow at the maximum rate during the forecast period due to increasing investment by several companies, government-led supportive initiatives promoting the growth of this sector, and growing patient affordability.
Grand View Research has segmented the general surgery devices market by product, application and region:
General Surgery Devices Product Outlook (USD Million), 2013 - 2024
Disposable Surgical Supplies
Open Surgery Instruments
Energy-based & Powered Instruments
Minimally Invasive Surgery Instruments
Medical Robotics & Computer-assisted Surgery Devices
Adhesion Prevention Products
General Surgery Devices Application Outlook (USD Million), 2013 - 2024
Minimal Invasive Surgery
Urology and Gynecology Surgery
General Surgery Devices Regional Outlook (USD Million), 2013 - 2024
Middle East and Africa
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