Surgical Blades Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Surgical Blades Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Surgical Blades market is anticipated to grow with a CAGR of nearly 4.3% during the forecast period (2022-2027).

COVID-19 had a temporary negative impact on the market as the sudden onset of the pandemic resulted in canceling of many surgeries. For instance, according to the World Economic Forum, in 2020, 38% of global cancer surgery has been postponed or canceled. According to a research article published in the International Journal of Surgery in July 2020, titled 'Impact of the Coronavirus (COVID-19) Pandemic on Surgical Practice - Part 2 (Surgical Prioritisation)' all surgical specialties have had to limit their surgical practices and prioritize the necessary surgeries. The selection of patients for urgent surgery during the pandemic is vitally essential to ensure that patients have post-operative reserves to combat any possibility of being infected with COVID-19. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic is expected to negatively impact the market's growth. However, during the post-pandemic period, the postponed surgeries resumed, which boosted the market's growth.

Factors driving the market growth include an increasing number of surgeries and rising healthcare expenditure. According to the article 'Trauma of Major Surgery' published in the National Center for Biotechnology Information (NCBI) in July2020, globally, a staggering 310 million major surgeries are performed each year.

As far as surgeries are concerned, the senior population holds the major share of all surgeries performed. There has been a notable increase in hospital and physician services consumption by the elderly on a population-adjusted basis. Several factors may potentially explain the rapid rise of services obtained by the elderly as hospital inpatients: changes in demographic composition; an increased physician-to-population ratio; technological changes; increased post-discharge complications as a consequence of, for example, decreased length-of-stay; and changes in insurance coverage. According to the article named 'Incidence and Cumulative Risk of Major Surgery in Older Persons in United States' published in July 2021, in United States Nearly nine major surgeries were performed annually for every 100 older persons, and more than 1 in 7 Medicare beneficiaries underwent a major surgery over five years, representing nearly 5 million unique older people.

Also, the increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive market growth. For instance, in October 2020, Entrepic Medical announced the launch of plan tome technology. This technology produces a radically unique, patient-focused surgical blade with an ultra-smooth, precise, and consistent cutting surface that dramatically minimizes surgically-induced tissue trauma. Such factors potentially drive the demand for the adoption of surgical instruments such as blades worldwide.

However, lack of skilled professionals is expected to hamper the growth of the surgical blades market.

Surgical Blades can be manufactured from either Carbon Steel or Stainless Steel. A marginally softer stainless blade tends to be more flexible; however, this can arguably lead to quicker edge deterioration during use.

Surgical blades are essentially used for making skin incisions, tissue dissections, and a variety of surgical approaches. These benefits; are extensively used in surgeries to treat chronic disorders, such as cesarean sections, appendicitis, and others. According to World Health Organization (WHO) updates from June 2021, cesarean section use continues to rise globally, accounting for more than 1 in 5 (21%) childbirths. If this trend continues, by 2030, the highest rates are likely to be in Eastern Asia(63%), Latin America and the Caribbean (54%), Western Asia (50%), Northern Africa (48%), Southern Europe (47%) and Australia and Newzealand (45%).

However, the stainless blade has better anti-corrosion properties which makes it a more suitable blade for a disposable scalpel given the way it is packaged and typically used in more uncontrolled environments or for procedures that use copious amounts of saline solution, which would cause an immediate rusting action when contacting the surface of a carbon blade.

Several countries are also experiencing a rise in surgical procedures, owing to the rising burden of non-communicable diseases and injuries. For instance, per the Organization for Economic Co-operation and Development (OECD), in 2020, 54,836 laparoscopic cholecystectomy procedures were performed in Denmark, and in Costa Rica, the number of courses was 30,031.

Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

North America is expected to dominate the overall market throughout the forecast period. In the North American region, United States holds the largest market share due to better regulations of surgical devices and growing awareness among the population to approach surgeries in case of injuries and chronic disease problems.

According to the study titled 'Trauma of major surgery' published in July 2020, about 50 million surgeries are performed in United States. The rising prevalence of cardiovascular disorders and obesity rates is attributed to the market growth in this region. As per the 'Cardiac Bypass surgeries' Article published by the University of Alabama in November 2021, Nearly 350,000 Coronary Artery Bypass Graft (CABG) Surgeries are done each year in United States.

The increasing injuries due to vehicle crashes in United States resulted in the increasing usage of Surgical blades, further boosting the market's growth. According to the data published in March 022 by Association for Safe International Road Travel (ASIRT), annually, 4.4 million are injured seriously enough to require medical attention in United States.

Additionally, according to the Center for Diseases Control and Prevention data updated in November 2020, about 600,000 women in United States have a hysterectomy every year, about 460,000 United States residents have a cholecystectomy, and 1.3 million pregnant women seek C-section in United States. All these procedures require surgical blades, boosting the market growth in the country.

Thus, all the aforementioned factors are expected to boost the market in the region over the forecast period.

The Global Surgical Blades market is competitive and consists of several major players. Companies like Aspen Surgical, B. Braun Medical, Inc, Beye LLC, Hu-Friedy Mfg. Co., LLC, Kai Industries Co., Ltd., MYCO Medical, PL Medical Co., LLC., Swann-Morton Limited, VOGT Medical, and Entrepix Medical, among others, hold a substantial market share.

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