Global Surgical Equipment Market- Market Overview:

The global surgical equipment market is expected to grow from USD 15.4 billion in 2022 to USD 31.8 billion by 2030, at a CAGR of 9.5% during the Projection period 2023-2030. The growth of the surgical equipment market is mainly driven by rising in surgeries.

The neurological surgical equipment is used for a variety of neurological surgery procedures, including the treatment of aneurysms, brain tumours, cerebrovascular disease, epilepsy, Parkinson's disease, and tremors. Additionally, shorter hospital stays following surgery, an increase in the number of ambulatory surgical centres, and advancing technology in minimally invasive surgeries are anticipated to propel market expansion during the Projection period. Due to the significant losses they had to endure as a result of the pandemic, several ambulatory surgery centres were forced to close. The market has recovered during the past year, though, thanks to the introduction of vaccines and increasing focus by the governments on planned responses to new outbreaks. Additionally, the backlogs caused by the pandemic are now being cleared, and as a result, the market is expected to rise significantly over the course of the projection period. One of the main drivers of the market's expansion is the rising geriatric population. Compared to the younger population, people 60 and older have a larger risk of acquiring conditions that call for surgery. The Centers for Disease Control and Prevention estimate that 310,800 hip replacements among adults aged 45 and above were performed in 2019.

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Market Dynamics:

Drivers:                          

• Increasing chronic diseases are boosting the market growth:

The key factors, proliferating the growth equipment market size include the increasing incidences of different chronic diseases like cancer, diabetes, and heart disease and the increasing burden on healthcare facilities worldwide. Further, the expenditure on these healthcare services has increased immensely, and various benefits are also offered by the home medical equipment, which to includes the reduction of the cost of expensive procedures, the ability to monitor chronic diseases, and avoiding unwanted situations in an emergency. These are some of the key factors which are growing the demand for surgical equipment in the market.

Restraints:                                             

• The growth is immensely hampered by the contamination of surgical instrument:

The contamination of surgical instruments is a major restrain for the surgical tool market. The presence of a large number of bacteria on surgical tools can cause high rates of infectious diseases. Without sterilization, surgical tools can become more infectious and more prone to diseases. An infection at the operation site, can result from more such exposures. In addition, The selling of counterfeit the surgical tools is another hindrance to market growth of the surgical equipment market.

Opportunities:

• Technological advancements:

The technological advancements in the surgery equipment sector and growing investments by the important market players are expected to provide growth opportunities in the near future. The demand for innovative and advanced surgical equipment is emerging across the healthcare sector. In addition, The increasing need for surgical staples and sutures is creating vast revenue opportunities for original equipment manufacturers (OEMs) and medical technology in the global surgical equipment industry further.

Challenges:

• Overburdened nursing administrators are having limited time:

Nursing administrators are seen wearing many hats in the current economy, which is making it difficult for them to engage on time-consuming tasks like research on surgical instruments from a plethora of vendors. In addition, simply in order to locate the correct instrument, administrators must still compare the varieties of different branded versions of the same instrument for price, while a single instrument can be obviously branded by different other manufacturers at multiple price points.

Segmentation Analysis:

The global surgical equipment market has been segmented based on product, application, and region.

By Product

The product segment is electrosurgical devices sutures, surgical sutures, handheld devices, and staplers. The surgical sutures segment led the largest share of the surgical equipment market with a market share of around 40% in 2022. For instance, Ethicon, Inc. stated in June 2021 that the National Institute for Health and Excellence (NICE) had released new medical technology recommendations recommending the use of the company's plus sutures in surgeries within the National Health Service. Additionally, as sutures are the only sutures that provide antibacterial protection, this is done to prevent the rising incidence of surgical site infections.

By Application

The application segment is orthopedics, obstetrics and gynecology, neurology, cardiovascular, plastic and reconstructive surgeries, and others. The obstetrics and gynecology segment led the largest share of the surgical equipment market with a market share of around 36% in 2022. Due to the growth in gynaecological procedures brought on by the increasing number of births around the world and the abrupt rise in the prevalence of illnesses affecting the female reproductive system. The CDC reported that around 1,148,692 cesarian operations were carried out in the United States in 2020. The market is divided based on application into neurosurgery, orthopaedics, cardiovascular, plastic and reconstructive surgery, wound closure, obstetrics and gynaecology, and others.

Global Surgical Equipment Market - Sales Analysis.

The sale of the surgical equipment market expanded at a CAGR of 7% from 2016 to 2022.

A instrument or tool used during surgical procedures to obtain access to the body's interior organs and physically alter biological tissues is referred to as surgical equipment. The most popular forms of surgical equipment include hand instruments, electrosurgical devices, auxiliary instruments, and closure devices. These tools are made to execute tasks like gripping, holding, cutting, dissecting, retracting, or suturing. Surgical instruments are frequently made of titanium, carbon steel, aluminium, and stainless steel. Before performing surgery, they are cleaned and sterilised and come in a variety of sizes. While certain surgical tools are made expressly to treat certain diseases, the bulk of surgical tools are made to be utilised throughout all types of surgeries.

The increased prevalence of lifestyle conditions that require surgery is the main factor driving the market. Additionally, the market is expanding due to ongoing technological developments in minimally invasive (MI) and electronic robot-assisted procedures. Additionally, the market is being stimulated by the expanding geriatric population, which is especially prone to developing a number of health issues, including as ocular, stomach, and intestinal disorders. In addition, intensive research and development (R&D) concentrating on increased control, access, and precision in complex surgeries are providing the major market players with lucrative growth potential. A good picture for the market is also being created by growing hospital networks and ambulatory surgery centres throughout the world.

Thus, owing to the aforementioned factors, the global surgical equipment market is expected to grow at a CAGR of 9.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the surgical equipment market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the surgical equipment market and held a 36% share of the market revenue in 2022.

• The North American region witnessed a major share. The United States has had a sizable portion of the market in North America. This is brought on by an ageing population, a sizable patient base, and an increase in surgical operations across the board, including gynaecology, abdominal surgery, cardiothoracic surgery, orthopaedic surgery, and others. GLOBOCAN predicted that in the United States, there will be 612,390 cancer-related deaths and 2,281,658 newly diagnosed cases of the disease in 2020. The most prevalent cancers in the country are skin, bladder, colorectal, breast, lung, and prostate. Additionally, a September 2020 report from the Centers for Disease Control and Prevention (CDC) indicates that cardiac diseases are the main killers in the US.
• Asia Pacific is anticipated to experience significant growth during the Projection period. The growth of the plastic and reconstructive surgery market is anticipated to be boosted by rising disposable income in nations like China and India, which will also support the expansion of the regional industry. Orthopedic and cardiovascular operation volumes are predicted to increase as the region's ageing population grows. Although the COVID-19 epidemic significantly harmed Asian nations in 2020 and the first part of 2021, the market had already started to recover by the second half of that year. The pandemic's massive backlogs and the deferral of some treatments have led to an increase in the demand for surgical equipment in this area.

Global Surgical Equipment Market  - Country Analysis:

• Germany

Germany's surgical equipment market size was valued at USD 1.17  billion in 2022 and is expected to reach USD 2.43 billion by 2030, at a CAGR of 9.6% from 2023 to 2030. One of the main drivers of the market's expansion is the rising geriatric population in the region. Compared to the younger population, people 60 and older have a larger risk of acquiring conditions that call for surgery.

• China

China’s surgical equipment market size was valued at USD 1.27 billion in 2022 and is expected to reach USD 2.70 billion by 2030, at a CAGR of 9.9% from 2023 to 2030. The market is primarily being driven by factors including an ageing population, an increase in the frequency of lifestyle disorders that eventually require surgery, rising healthcare expenditures, and significant unmet surgical needs.

• India

India's surgical equipment market size was valued at USD 0.98 billion in 2022 and is expected to reach USD 2.07 billion by 2030, at a CAGR of 9.8% from 2023 to 2030. Due to growing technological advancements in minimally invasive operations, shorter hospital stays following a surgery, and an increase in the number of ambulatory surgical facilities in the region.

Key Industry Players Analysis:

To increase their market position in the global surgical equipment market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Braun Melsungen Ag
• Zimmer Biomet Holdings Inc.
• Smith & Nephew plc
• Alcon Laboratories Inc.
• Stryker Corporation
• Medtronic Inc.
• Aspen Surgical Products, Inc.
• Becton, Dickinson and Company
• Ethicon Inc.

Latest Development:

• In June 2022, Through the approval and introduction of its Multilevel CerviKit by the United States Food and Drug Administration Xenco Medical increased the surgical device portfolio for its Ambulatory Surgical Centers. A complete set of implants and single-use equipment for 2, 3, and 4-level anterior cervical spine procedures are included in this single-use cervical spine technology.
• In June 2022, The ECHELON 3000 Stapler was introduced in the United States by Johnson & Johnson MedTech subsidiary Ethicon. It is a digitally enabled tool that gives surgeons easy, one-handed powered articulation to assist in addressing the particular needs of their patients.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	9.5%
Market Size	15 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Product, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	B. Braun Melsungen Ag, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Alcon Laboratories Inc., Stryker Corporation, Medtronic Inc., Aspen Surgical Products, Inc., Becton, Dickinson and Company, and Ethicon Inc.
By Product	Electrosurgical Devices Sutures Surgical Sutures Handheld Devices Staplers
By Application	Orthopedics Obstetrics and Gynecology Neurology Cardiovascular Plastic and Reconstructive Surgeries Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Surgical Equipment Market   By Product:

• Electrosurgical Devices Sutures
• Surgical Sutures
• Handheld Devices
• Staplers

Global Surgical Equipment Market  By Application:

• Orthopedics
• Obstetrics and Gynecology
• Neurology
• Cardiovascular
• Plastic and Reconstructive Surgeries
• Others

Global Surgical Equipment Market   By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- A stable and welcoming business climate with predictable market growth tendencies is provided by high political stability. However, political unrest discourages investors and damages stakeholders' faith in the economy and, as a result, organizational performance. the surgical equipment market is currently active in a number of nations, each of which is experiencing its own political unrest. The growth of the gold industry may be hampered, and growth potential for the surgical equipment market may be constrained, by the rising tensions and instabilities in the world's political climate. Government policy changes that happen frequently make the environment more unclear, which is bad for corporate success. The political climate of the nation must be closely monitored by the surgical equipment market since shifts in power could affect the government's priorities for the growth of certain industries.

Economic Factors- A nation's economic development directly impacts organizational performance. Growing economies present the surgical equipment market with numerous prospects for expansion. In a similar vein, it's critical to comprehend the stage of the industrial lifecycle. Due to market saturation, entering mature sectors might be more difficult than entering businesses in the growth stage. Additionally, the amount of money invested on key infrastructure development by the government of the host country has an impact on the surgical equipment market's financial performance. The business climate is made easier by a well-developed infrastructure, which also boosts the gold industry's growth potential in the respective nation.

Social factors- For markets like surgical equipment market, changes in demographic trends including population ageing, migration patterns, and socioeconomic factors are of utmost relevance. The proper market segment or segments with significant growth potential can be selected by the surgical equipment market by carefully examining the demographic parameters. Migration has an impact on business and marketing strategy as well. Understanding the overall attitude of the populace toward migration is crucial for the surgical equipment market since it might affect the ability of businesses to hire foreign management in the host nation.

Technological Factors- To keep ahead of the competition, the surgical equipment market should carefully analyse the ongoing technical developments. The potential for the 5G to improve business outcomes through improved user experience, better speed, and increased access should be closely monitored. Such technological advancements have the power to fundamentally alter a sector and rewrite the guidelines for market participants' success. Additionally, it's crucial to take into account the technology's state of development and maturity in the relevant industry. By concentrating on newly developed technological advancements, the surgical equipment market can expand its market share by entering markets where technology development has not yet reached maturity.

Environmental Factors- Using green/eco-friendly items is becoming more popular. surgical equipment market can seize the chance and implement green business strategies to gain the confidence of stakeholders. Priorities for product innovation are changing as a result of regulatory organisations' emphasis on ensuring conformity with environmental standards. surgical equipment market must put environmental friendliness ahead of traditional value propositions in their marketing strategy. surgical equipment market may face criticism from the media, environmental organisations, customers, and the general public if it consistently depletes its resources. In order to determine which resources (such as water, power, etc.) are rare or which species are threatened with extinction due to overuse, surgical equipment market must research the country's specific environmental rules.

Legal Factors- As certain nations have severe requirements to protect labor safety, the surgical equipment market must abide by the employee/labor health and safety standards. The ethical and moral responsibility of the surgical equipment market is to provide a safe working environment for its employees. In a similar vein, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practices as discriminatory lawsuits against employers harm the organizational image and affect organizations' capacity to attract and retain talent. Consumers' privacy and security concerns have made data protection a crucial issue. To protect consumer data, the surgical equipment market must research data protection laws. Laws are also in place to limit prices, guarantee a particular level of quality, and shield customers from deceptive marketing promises.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Promoting Alternatives
   • 3. Restraints
     • 3.1. Adverse Effects
   • 4. Opportunities
     • 4.1. Sustainable Solutions of Pacakaging
   • 5. Challenges
     • 5.1. High Cost

6. Global Surgical Equipment Market Analysis and Projection, By Product
   • 1. Segment Overview
   • 2. Electrosurgical Devices Sutures
   • 3. Surgical Sutures
   • 4. Handheld Devices
   • 5. Staplers
7. Global Surgical Equipment Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Orthopedics
   • 3. Obstetrics and Gynecology
   • 4. Neurology
   • 5. Cardiovascular
   • 6. Plastic and Reconstructive Surgeries
   • 7. Others
8. Global Surgical Equipment Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Surgical Equipment Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Surgical Equipment Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Braun Melsungen Ag
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Zimmer Biomet Holdings Inc.
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Smith & Nephew plc
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Alcon Laboratories Inc.
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Stryker Corporation
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Medtronic Inc.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Aspen Surgical Products, Inc.
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Becton, Dickinson and Company
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Ethicon Inc.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis

List of Table

1. Global Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
2. Global Electrosurgical Devices Sutures, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
3. Global Surgical Sutures, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
4. Global Handheld Devices, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
5. Global Staplers, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
6. Global Surgical Equipment Market, By Application 2023–2030 (USD Billion)
7. Global Orthopedics, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
8. Global Obstetrics and Gynecology, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
9. Global Neurology, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
10. Global Cardiovascular, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
11. Global Plastic and Reconstructive Surgeries, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
12. Global Others, Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
13. Global Surgical Equipment Market, By Region, 2023–2030 (USD Billion)
14. North America Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
15. North America Surgical Equipment Market, By Application 2023–2030 (USD Billion)
16. USA Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
17. USA Surgical Equipment Market, By Application 2023–2030 (USD Billion)
18. Canada Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
19. Canada Surgical Equipment Market, By Application 2023–2030 (USD Billion)
20. Mexico Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
21. Mexico Surgical Equipment Market, By Application 2023–2030 (USD Billion)
22. Europe Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
23. Europe Surgical Equipment Market, By Application 2023–2030 (USD Billion)
24. Germany Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
25. Germany Surgical Equipment Market, By Application 2023–2030 (USD Billion)
26. France Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
27. France Surgical Equipment Market, By Application 2023–2030 (USD Billion)
28. UK Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
29. UK Surgical Equipment Market, By Application 2023–2030 (USD Billion)
30. Italy Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
31. Italy Surgical Equipment Market, By Application 2023–2030 (USD Billion)
32. Spain Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
33. Spain Surgical Equipment Market, By Application 2023–2030 (USD Billion)
34. Asia Pacific Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
35. Asia Pacific Surgical Equipment Market, By Application 2023–2030 (USD Billion)
36. Japan Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
37. Japan Surgical Equipment Market, By Application 2023–2030 (USD Billion)
38. China Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
39. China Surgical Equipment Market, By Application 2023–2030 (USD Billion)
40. India Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
41. India Surgical Equipment Market, By Application 2023–2030 (USD Billion)
42. South America Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
43. South America Surgical Equipment Market, By Application 2023–2030 (USD Billion)
44. Brazil Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
45. Brazil Surgical Equipment Market, By Application 2023–2030 (USD Billion)
46. Middle East and Africa Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
47. Middle East and Africa Surgical Equipment Market, By Application 2023–2030 (USD Billion)
48. UAE Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
49. UAE Surgical Equipment Market, By Application 2023–2030 (USD Billion)
50. South Africa Surgical Equipment Market, By Product, 2023–2030 (USD Billion)
51. South Africa Surgical Equipment Market, By Application 2023–2030 (USD Billion)

List of Figures 

1. Global Surgical Equipment Market Segmentation
2. Surgical Equipment Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Surgical Equipment Market Attractiveness Analysis By Product
9. Global Surgical Equipment Market Attractiveness Analysis By Application
10. Global Surgical Equipment Market Attractiveness Analysis By Region
11. Global Surgical Equipment Market: Dynamics
12. Global Surgical Equipment Market Share By Product (2023 & 2030)
13. Global Surgical Equipment Market Share By Application (2023 & 2030)
14. Global Surgical Equipment Market Share by Regions (2023 & 2030)
15. Global Surgical Equipment Market Share by Company (2021)