Surgical Equipment Market Insights: Key Drivers of Growth and Challenges | Taiwan News
Report Ocean published the latest research report on the Surgical Equipment market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Surgical Equipment market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate. [Download Free Sample]
The global surgical equipment market revenue was around US$ 35.6 billion in 2023 and is estimated to reach US$ 59 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2023 to 2032.
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Surgical equipment are various tools, instruments, and devices used by healthcare professionals such as surgeons, nurses, and other medical staff during surgical or any other kind of medical procedures. These tools are designed to aid in performing surgical tasks with precision, safety, and efficiency
Factors Influencing Market Growth
– With the rise in chronic diseases like cardiovascular diseases, cancer, and diabetes around the world. The demand for surgical equipment is rising around the world. As surgical equipment is used in the diagnosis and treatment of diseases. Medical diagnosis and treatments of every kind requires surgical instruments, diagnostic tools, and monitoring devices.
– The elderly population around the world is susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health problems. There is a huge demand for invasive surgery in the elderly population. This contributes to growth in the surgical equipment market.
– Continuous technological innovation also drives growth in the surgical equipment market. With the advancements in materials, design, and manufacturing processes, more precise, efficient, and minimally invasive surgical instruments have developed.
– The surgical equipment market is subject to stringent regulatory standards and quality assurance requirements. This may create a hindrance for the entry of new manufacturers. This may also slow down product innovation in this category of market.
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Impact of COVID-19
The COVID-19 pandemic affected negatively the surgical equipment market because elective procedures were postponed. There was a minimal demand for surgical equipment, which led to minimal sales. Due to difficulties in supply chain interruptions, employee quarantines or illnesses, stay-at-home policies, and other restrictive policies, businesses encountered operational difficulties. There was a gradual market recovery after the next few years of COVID-19.
Regional Insights
North America holds the major market share due to the presence of several key players in this market such as B. Braun SE, Boston Scientific Corporation, Integral Life Sciences Holdings Corporation, and Medtronic plc. The region has significant advancement in manufacturing technology of surgical equipment. The presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption rate of advanced surgical equipment products are the other factors responsible for driving the market growth in that region.
Leading Competitors
– ConMed Corporation
– Integra LifeSciences Holdings Corporation
– Cousin Surgery
– LLC
– KLS Martin Group
– Johnson & Johnson
– Fuhrmann GmbH
– Boston Scientific Corporation
– Entrhal Medical GmbH
– Medtronic plc
– B. Braun SE
– Other Prominent Players
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Segmentation Analysis
The global surgical equipment market size is segmented into product, category, application, and region.
Segmentation based on Product
– Surgical Sutures & Staplers
– Surgical Sutures
– Surgical Staplers
– Handheld Surgical Devices
– Forceps & Spatulas
– Retractors
– Dilators
– Graspers
– Auxiliary Instruments
– Cutter Instruments
– Ligating clips
– Others (Suction Tubes, Rasps, Dissectors, Needle Holders, and other Surgical Clips)
– Electrosurgical Devices
– Surgical Hernia Mesh
– Surgical Glue
– Powered Surgical Instruments
– Other Surgical Equipment
Segmentation based on Category
– Reusable Surgical Equipment
– Disposable Surgical Equipment
Segmentation based on Application
– Neurosurgery
– Plastic & Regenerative Surgery
– Wound Closure
– Urology Obstetrics & Gynecology
– Thoracic Surgery
– Microvascular
– Cardiovascular
– Orthopedic Surgery
– Laparoscopy
– Ophthalmic Application
– Veterinary Application
– Dental Application
– Others
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Segmentation Based on Region
– North America
– The U.S.
– Canada
– Mexico
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Rest of Europe
– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest of Asia-Pacific
– LAMEA
– Brazil
– South Africa
– Saudi Arabia
– Rest of LAMEA
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The report is structured as follows:
Chapter 1: Provides an overview of the global Surgical Equipment industry.
Chapter 3: Explores market dynamics.
Chapter 4: Profiles top industry companies.
Chapter 5: Analyzes global market competition among players.
Chapter 6: Examines the market’s size across regions.
Chapter 7: Focuses on market segments by application.
Chapter 8: Dives into industry segments by type.
Chapter 9: Covers the market chain, sourcing strategies, and downstream buyers.
Chapter 10: Discusses strategies and key policies of distributors, suppliers, and traders.
Chapter 11: Analyzes key marketing strategies employed by market vendors.
Chapter 12: Examines factors affecting market dynamics.
Chapter 13: Forecasts the global Surgical Equipment market size for 2024-2032 and beyond.
These responses will function a complete examination of the:
- The markets’ present-day infrastructures
- Market possibilities and challenges
- Future plausible for increase in particular industries
- Major geographic and market segments to target, and end-user goal organizations and their viable operational volumes
- Representative and a price chain probability breakdown
- Market dimension and boom price during the expected time frame.
- The market’s important using forces
- Key market traits are impeding market expansion.
- Obstacles to market expansion.
- Market’s pinnacle merchants.
- Thorough SWOT analysis
- Threats and possibilities confronted with the aid of the modern carriers in the world market.
- Trending elements that affect the markets in the quite a number region.
- Initiatives with a strategic center of attention on the pinnacle vendors.
- PEST find out about of the five essential market regions.
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