Global surgical instruments/equipment market is anticipated to reach a value of USD 20.3 billion by 2025, expanding at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. Increasing number of minimally invasive surgeries across the globe is anticipated to accelerate the market growth.
Treatment of chronic diseases often require surgeries. Rising prevalence of chronic diseases, such as, cardiovascular and neurological disorders is adversely impacting the society. Surgery is considered as the primary mode of treatment for patients suffering from such diseases, thereby, giving rise to more number of surgical procedures being conducted. Minimally invasive surgeries are also highly adopted by surgeons for treating several heart disorders.
Road and other accidents are also anticipated to raise the demand for surgical instruments in the coming years. Accident is one of the leading causes of severe injuries. Based on statistics from Association for Safe International Road Travel, around 2.35 million people gets injured every year due to such accidents. As a result, there is a high demand for wound closure surgical procedures, which in turn is expected to raise the demand for surgical tools.
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Further Key Findings From the Study Suggest:
The global surgical equipment market was valued $10.5 Billion in 2016 and is expected to grow at 7.8% CAGR from 2017 to 2025
Surgical sutures and staplers held the largest market share in 2016 owing to its high cost and huge application in wound closure surgeries
Electrosurgical equipment are anticipated to witness attractive growth over the forecast period due to growing trend towards minimally invasive surgeries
Obstetrics and gynecology dominated the market in 2016 due to large number of caesarean surgeries being performed worldwide
Plastic and reconstructive surgeries is expected to show lucrative CAGR in the coming years due to increasing concern for esthetics among women
In 2016, North America dominated the surgical instruments market due to the availability of skilled surgeons and technologically advanced surgical tools in the U.S.
Asia Pacific is expected to show fastest growth over the forecast period owing to the rising number of road accident cases in India
Major companies operating in the market include Becton, Dickinson and Company; Stryker Corporation; B. Braun Melsungen AG; Zimmer Biomet Holdings, Inc.; Aspen Surgical Products, Inc.; Smith & Nephew plc; Medtronic; Alcon Laboratories, Inc.; and Ethicon, Inc.
Grand View Research has segmented the global surgical equipment market on the basis of product, application and region:
Surgical Equipment Product Outlook (Revenue, USD Million; 2014 - 2025)
Surgical Sutures and Staplers
Handheld Surgical Devices
Forceps and Spatulas
Surgical Equipment Application Outlook (Revenue, USD Million; 2014 - 2025)
Plastic and Reconstructive Surgery
Obstetrics and Gynecology
Surgical Equipment Regional Outlook (Revenue, USD Million; 2014 - 2025)
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