Surgical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Surgical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global surgical equipment market size reached US$ 17.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.58% during 2023-2028.

Surgical equipment refers to a device or tool used during surgical procedures to gain access to the internal parts of the body and physically modify biological tissues. Designed to perform functions such as grasping, holding, cutting, dissecting, retracting, or suturing, the most common types of surgical equipment include hand instruments, electrosurgical devices, auxiliary instruments, and closure devices. Surgical equipment pieces are typically composed of stainless steel, aluminum, carbon steel, and titanium. They are available in a wide range of sizes and are cleaned and sterilized before performing surgery. The majority of surgical instruments are designed to be used during all types of surgeries, while other instruments are specifically designed to treat specific conditions. As a result, these pieces of equipment are extensively utilized in numerous surgeries, such as cardiovascular, orthopedic, neurological, oral, cosmetic, gastric surgeries and cesarean deliveries.

Surgical Equipment Market Trends:
The market is primarily driven by the rising incidences of lifestyle diseases requiring surgery. In addition to this, continual technological advancements in minimally invasive (MI) and electronic robot-assisted surgeries are fueling the market growth. Moreover, the growing geriatric population that is highly susceptible to developing numerous health conditions, such as ocular, gastric and intestinal disorders, is also providing an impetus to the market. Apart from this, extensive research and development (R&D) focusing on greater control, access, and precision in complex surgeries are offering lucrative growth opportunities for the key market players. Furthermore, expanding hospital chains and ambulatory surgical centers across the globe is creating a positive outlook for the market. Some of the other factors that are providing a boost to the market include the escalating healthcare expenditure and favorable government initiatives supporting continual developments in the hospital infrastructure.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global surgical equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, category, application and end user.

Breakup by Product:

Surgical Sutures and Staplers
Handheld Surgical Equipment
Forceps and Spatulas
Retractors
Dilators
Graspers
Auxiliary Instruments
Cutter Instruments
Electrosurgical Devices
Others

Breakup by Category:

Reusable Surgical Equipment
Disposable Surgical Equipment

Breakup by Application:

Neurosurgery
Plastic and Reconstructive Surgery
Wound Closure
Obstetrics and Gynecology
Cardiovascular
Orthopedic
Others

Breakup by End User:

Hospitals
Ambulatory Surgical Centers
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alcon, B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Integra LifeSciences, Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Olympus Corporation, Smith & Nephew plc, Stryker Corporation and Zimmer Biomet.

Key Questions Answered in This Report:
How has the global surgical equipment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global surgical equipment market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the category?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global surgical equipment market and who are the key players?
What is the degree of competition in the industry?