Rapid advancements in surgical instruments, increasing number of surgeries across the globe, and increasing global geriatric population are key factors fueling global surgical instruments market growth
The global surgical instruments market is expected to reach USD 25.5 Billion in 2028 and register a revenue CAGR of 7.9% during the forecast period, according to the latest report published by Reports and Data. Key factors driving global surgical instruments market revenue growth include increasing prevalence of various chronic diseases such as cardiovascular diseases, cancer, neurological disorders, rising number of accidents and trauma emergencies, and improving healthcare facilities and infrastructure across the globe.
Surgical instruments are tools or devices used by skilled healthcare professionals for performing various tasks during surgical processes. These instruments are used for holding, cutting, retracting, clamping, or dilating biological tissue. Various surgical instruments are available for general surgery as well as for carrying out complex surgical procedures. Sutures, staplers, forces & spatulas, retractors, dilators, graspers are some of the commonly used instruments in hospitals and clinics. Factors such as increasing number of hospitals, clinics, ambulatory care centers across the globe, rising demand for minimally invasive surgical processes, and increasing adoption of robotic surgeries are expected to continue to drive market revenue growth during the forecast period. In addition, increasing healthcare expenditure, and increasing focus on developing compact, advanced, and cost-effective surgical instruments are expected to fuel market growth going ahead.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Smith & Nephew plc, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Ethicon, Inc., Aspen Surgical Products, Inc., Alcon Laboratories, Inc., Becton, Dickinson and Company, Medtronic, Plc, Boston Scientific Corporation, Abbott Laboratories, Inc., Progressive Medical, Inc., Scanlan International, Koninklijke Philips NV, Biolitec AG, and Johnson & Johnson
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The Surgical Instruments market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Type Outlook (Revenue, USD Billion; 2018–2028)
- Surgical Sutures & Staplers
- Handheld Surgical Devices
- Forceps & Spatulas
- Retractors
- Dilators
- Graspers
- Auxiliary Instruments
- Cutter Instruments
- Others
- Electrosurgical Devices
Application Outlook (Revenue, USD Billion; 2018–2028)
- Neurosurgery
- Obstetrics & Gynecology
- Wound Closure
- Cardiovascular
- Plastic & Reconstructive Surgery
- Orthopedic
- Others
Category Outlook (Revenue, USD Billion; 2018–2028)
- Reusable
- Disposable
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Furthermore, it consists information about individual segment of the Surgical Instruments market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Some key highlights of the report:
- Based on application, the plastic & reconstruction surgeries segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing cases of road accidents, rising focus on personal appearance and esthetics, increasing disposable income in developing countries, increasing number of surgeries such as chin and breast augmentation, breast reduction, and rising demand for advanced surgical instruments.
- Based on category, the reusable segment is expected to register fastest revenue CAGR during the forecast period owing to factors such as increasing prevalence of chronic illnesses and accidents, and high demand for advanced surgical instruments to cater to rising number of complex surgeries. In addition, availability of various instruments of plastics and polymers with better retention properties that can withstand heat and radiation for effective sterilization is expected to drive revenue growth of the segment during the forecast period.
- Europe is expected to register steady revenue growth between 2021 and 2028 owing to factors such as rising prevalence of chronic diseases, trauma injuries, presence of well-developed healthcare infrastructure, and high preference for minimally invasive surgery instruments. In addition, increasing investments in research and development activities, and rapid advancements in surgical devices and instruments are expected to fuel market growth during the forecast period.
- Asia Pacific market revenue is expected to expand at a CAGR of 8.2% during the forecast period. This can be attributed to rising cases of chronic illnesses, increasing number of road accidents, and surgeries, rising healthcare spending, and increasing demand for latest surgical instruments and devices. In addition, increasing investments in research and development activities to develop advanced and affordable surgical instruments is expected to fuel market growth in Asia Pacific during the forecast period.
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