Surgical Equipment Market Size Worth $31.58 Billion By 2030

Surgical Equipment Market Growth & Trends

The global surgical equipment market size is expected to reach USD 31.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2022 to 2030. The growing geriatric population, a rise in the volume of surgical procedures, technological advancements, and an increase in awareness regarding the benefits of early surgical intervention are expected to drive the market.In addition, growing disposable income in developing countries and rising demand for minimally invasive surgeries are expected to propel the growth of the market over the forecast period.

The rise in the prevalence of chronic diseases is another major factor that is expected to fuel the growth of the market. The increasing shift towards a sedentary lifestyle and a rise in the consumption of processed foods are leading to an increase in the prevalence of chronic diseases such as cardiovascular disorders. Thus, this is expected to have a positive impact and is anticipated to lead to a rise in the demand for surgical equipment over the forecast period

The market observed a sudden fall in the sales of surgical equipment during the first half of the pandemic. Postponement of elective surgeries, reduced hospital visits that resulted in delayed diagnosis, and disruption in the supply chain due to the lockdowns and restrictions imposed to curb the spread of the virus had a negative impact on the market. However, with the world returning to normalcy, the market is recovering at a very fast pace and is expected to grow significantly over the forecast period.

 Request a free sample copy or view report summary: Surgical Equipment Market Report

Surgical Equipment Market Report Highlights

• Based on product, the surgical sutures and staplers segment dominated the market in 2021 due to its high adoption in wound closure

• On the basis of application, the obstetrics and gynecology segment held the second-largest revenue share in 2021 due to the rising childbirths and female reproductive organ disorders

• North America accounted for the largest revenue share in 2021 due to the presence of a well-established healthcare infrastructure

• The Covid-19 pandemic had a negative impact on the market. Postponed surgical procedures due to the lockdowns and restrictions led to a sharp fall in the sales of surgical equipment

Surgical Equipment Market Segmentation

Grand View Research has segmented the global surgical equipment market based on product, application, and region:

Surgical Equipment Product Outlook (Revenue, USD Million, 2017 - 2030)

• Surgical Sutures & Staplers

• Handheld Surgical Devices

  • Forceps & Spatulas

  • Retractors

  • Dilators

  • Graspers

  • Auxiliary Instruments

  • Cutter Instruments

  • Others 

• Electrosurgical Devices

Surgical Equipment Application Outlook (Revenue, USD Million, 2017 - 2030)

• Neurosurgery

• Plastic & Reconstructive Surgery

• Wound Closure

• Obstetrics & Gynecology

• Cardiovascular

• Orthopedic

• Others

Surgical Equipment Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Singapore

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players of Surgical Equipment Market

• B. Braun Melsungen Ag

• Smith & Nephew plc

• Zimmer Biomet Holdings Inc.

• Stryker Corporation

• Alcon Laboratories Inc.

• Aspen Surgical Products, Inc.

• Medtronic Inc.

• Ethicon Inc.

• Becton, Dickinson and Company