Surgical Instruments And Consumables Market Size, Share & Trends Analysis Report By Product (Surgical Instruments, Consumables), By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Surgical Instruments And Consumables Market Size, Share & Trends Analysis Report By Product (Surgical Instruments, Consumables), By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Surgical Instruments And Consumables Market Growth & Trends

The global surgical instruments & consumables market size is expected to reach USD 10.78 billion by 2030, registering a CAGR of 7.11% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global rise in chronic diseases, such as cancer, cardiovascular diseases, diabetes, and orthopedic disorders, is a significant contributor to the market growth. These conditions often necessitate surgical interventions, driving demand for specialized instruments and consumables. The global population is aging rapidly, especially in developed countries. As the elderly population grows, the incidence of age-related health conditions, including joint replacements, cataract surgery, and cardiac procedures are fueling the demand for surgical tools.

The popularity of MIS procedures has surged in recent years due to their advantages, such as smaller incisions, reduced pain, and faster recovery times. This shift has created a demand for specialized instruments and consumables designed for minimally invasive techniques., Continuous advancements in materials science, design and manufacturing processes are leading to the development of innovative surgical instruments and consumables. For instance, using advanced materials such as titanium and polymers can improve durability and performance.

Investments in healthcare infrastructure, particularly in developing regions, are increasing the availability of surgical facilities and services. This expansion drives demand for surgical instruments and consumables to equip these facilities. As healthcare spending increases, driven by rising incomes and government policies, there is greater investment in medical equipment and supplies, including surgical instruments and consumables.

Surgical Instruments And Consumables Market Report Highlights

• Based on the product, the surgical instruments accounted for the largest revenue share of 77.3% in 2023 as there is a rise in the demand for surgical procedures, which in turn is driving demand for surgical instruments.
• Based on the application, general surgery segment accounted for the largest revenue share of 32.6% in 2023 as conditions requiring general surgery, such as appendicitis, gallbladder disease, hernias, and gastrointestinal disorders, continue to be prevalent, driving demand for associated surgical instruments and consumables.
• Based on the end use, the hospitals segment accounted for the largest revenue share of 69.4% in 2023 as hospitals are performing a growing number of surgical procedures due to various factors, including the rising prevalence of diseases, advancements in surgical techniques, and increased access to healthcare.
• In 2023, North America dominated with a share of 40.1% as hospitals are performing more surgical procedures due to various factors, including the rising prevalence of diseases, advancements in surgical techniques, and increased access to healthcare.

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