Surgical Instrument Market by Product (Surgical Sutures & Staplers, Handheld Surgical Equipment, and Electrosurgical Devices), by Application (Neurosurgery, Plastic & Reconstructive Surgery, Cardiovascular Surgery, Urology Surgery, Orthopedic Surgery, Gyn

Surgical Instrument Market by Product (Surgical Sutures & Staplers, Handheld Surgical Equipment, and Electrosurgical Devices), by Application (Neurosurgery, Plastic & Reconstructive Surgery, Cardiovascular Surgery, Urology Surgery, Orthopedic Surgery, Gynecological Surgery, Ophthalmic Surgery, Laparoscopic Surgery, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Clinics) – Global Opportunity Analysis and Industry Forecast, 2023–2030

The Surgical Instrument Market size was valued at USD 13.40 billion in 2022, and is predicted to reach USD 25.52 billion by 2030, with a CAGR of 7.9% during the forecast period, 2023–2030.

The rising aging population across the globe is one of the significant factors that create immense growth opportunities in the surgical instrument market. However, the stringent regulations imposed by the regulatory bodies make it difficult and time-consuming to bring new products to market. This, in turn, is expected to restrain the growth of the market during the forecast period. On the contrary, the growing cases of chronic diseases, such as heart disease, cancer, and diabetes, are becoming common and often require surgery. This factor is expected to create ample opportunities for the market in the coming years.

Segment Overview
The global surgical instrument industry is segmented on the basis of product, application, end user, and region.
By product, the market is classified into surgical sutures & staplers, handheld surgical equipment, and electrosurgical devices.
By application, the market is categorized into neurosurgery, plastic & reconstructive surgery, cardiovascular surgery, urology surgery, orthopedic surgery, gynecological surgery, ophthalmic surgery, laparoscopic surgery, and others.
By end user, the market is divided into hospitals, ambulatory surgical centers, and clinics.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Regional Analysis
Asia-Pacific holds the dominant market share

The aging population in countries such as China, Japan, and India, who require frequent checkups and surgeries due to age-related diseases, is driving the market growth. According to the World Health Organization (WHO), China has one of the fastest-growing aging populations in the world. The population of people over 60 years in China is projected to reach 28% by 2040. Moreover, the presence of the world’s largest population in this region coupled with the rising chronic cases, such as cancer, cardiovascular diseases (CVDs), chronic respiratory diseases (CRDs), and others, drive the market growth. In addition, this region has some of the prominent key players that offer a wide range of affordable and world-class surgical instruments, which further propels the growth of the industry.

Key Market Players
The key players in the global surgical instrument market include companies such as:
• B. Braun
• Smith & Nephew
• Zimmer Biomet
• Stryker Corporation
• Medtronic
• Ethicon
• Conmed Corporation
• Intuitive Surgical
• Olympus Corporation
• Boston Scientific

Recent Developments
March 2023

Smith & Nephew launched Visionaire, a 3D printing platform for patient-specific orthopedic instruments. The platform is designed to help surgeons perform procedures with greater precision and accuracy and improve patient outcomes. Visionaire is currently used in various orthopedic procedures, and Smith & Nephew plans to expand its use in the future.

September 2022

Olympus launched THUNDERBEAT Open Fine Jaw Type X surgical energy devices to perform procedures with more safety than before. This surgical instrument has two types of energy, ultrasonic and bipolar. Ultrasonic energy is used to cut tissue, while bipolar energy is used to seal blood vessels and prevent bleeding. This combination of energy allows THUNDERBEAT hybrid devices to perform various tasks, including cutting tissue, sealing blood vessels, dissecting tissue, and coagulating tissue.

June 2022

Ethicon (J&J) launched the ECHELON 3000 Stapler, a digitally enabled device that provides surgeons with one-handed powered articulation to address unique patient needs. The first-of-its-kind stapler allows surgeons to easily access and close difficult-to-reach areas, such as the pelvis and sacrum. It also features a new and intuitive user interface.

June 2022

Xenco Medical received the U.S. Food and Drug Administration (FDA) clearance for its Multilevel CerviKit. It is a single-use spinal system that simplifies cervical spine surgery and reduces surgical site infections. The kit includes disposable implants and instruments that can be assembled outside the operating room, which, in turn, saves time and money. Xenco Medical aims to provide cost-effective and efficient solutions to improve patient care in the ambulatory surgery center market.

April 2022

Carl Zeiss Meditec, a medical technology company, announced the acquisition of two surgical instrument manufacturers, Kogent Surgical and Katalyst Surgical. The acquisition is expected to close in Q2 2022.

Kogent Surgical and Katalyst Surgical are based in Chesterfield, Missouri, and develop and manufacture innovative surgical instruments for minimally invasive surgery (MIS). The acquisition will enable Carl Zeiss Meditec to offer a comprehensive portfolio of surgical instruments for MIS and strengthen its position in the fast-growing MIS market.

Key Benefits
• The surgical instrument market report provides a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the surgical instrument trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the surgical instrument market is provided in the report.
• The competitive analysis of the market players along with their market share in the surgical instrument market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.