High demand for surgery procedures due to various reasons such as, chronic diseases like diabetes, cancer, and the heart diseases, and the rise in the number road mishaps and introduction new updated technology which helps in the surgery procedures are key factors contributing to high CAGR during forecast period.
Market Size – USD 11.75 Billion in 2018, Market Growth - CAGR of 7.9%, Market Trends – Product launches and research for advanced products
According to the current analysis of Reports and Data, the global Surgical Instruments market was valued at USD 11.75 Billion in 2018 and is expected to reach USD 21.52 Billion by year 2026, at a CAGR of 7.9%. The expected rise in the growth is subjected to various applications for which the surgery procedure is required.
These products are the key to successful surgery procedures in today’s world. The countries like China & India where the population is at par compared to other countries have large demand for the tools used in surgeries due to the fact that the cases with different issues for which the process is required are increasing day by day. The increasing prevalence of chronic diseases are the most common driver for this industry’s development. The procedures for heart diseases and the road accidents these are also another major drivers for the industrial growth of this industry. Moreover, the large number of child berths in the Asia-pacific region is another driving factor for this industry. The North America specifically the US is the most advanced country in the world in terms of advanced healthcare. The skilled professionals availability in the US is another major factor for driving this industry.
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The report provides a complete analysis of the global Surgical Instruments market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, and investment approaches.
Further key findings from the report suggest
- Surgical Instruments market is growing at a CAGR of 2% in Asia Pacific followed by North America and Europe, with 8.0% and 7.9% CAGR, respectively. High rate of surgeries due to different diseases across the globe is the key factor to accelerate the industrial development during forecast period across all regions
- As of 2018, Obstetrics & Gynecology is the dominating Surgical Instruments which holds 78% of the global industry. The Asian region is the chief revenue generating source for this product segment, followed by North America and Europe regions
- Reusable category is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 8.3%. However, associated side effects and costs are major challenge for the industrial growth of this market segment
- Handheld Devices (that includes Forceps & Spatulas, Retractors, Dilators, Graspers, Auxiliary Instruments, Cutter Instruments) was valued at USD 2.46 billion and is expected reach USD 4.36 billion by 2026
- Surgery has been an essential component of public health. As longevity increases worldwide, its role is increasing rapidly. Lack of access to basic care remains a major concern in low-income settings. The parallel requirement for measures to improve the safety and reliability of interventions, however, has gone largely unrecognized.
- An estimated 63 million people a year undergo surgical treatment for traumatic injuries, 31 million for malignancies and 10 million for obstetric complications. Problems associated with surgical safety are well recognized in developed and developing countries alike. In the developing countries, the poor state of infrastructure and equipment, unreliable supplies and quality of medications, shortcomings in organizational management and infection control, difficulties in the supply and training of personnel and severe under-financing contribute to the difficulties.
- North America is expected to account for the 33% of the global Surgical Instruments market. The availability of quality surgical professionals, the availability of advanced technology for surgical practices will help witness the growth.
- The growth in demand for alternatives to the surgery procedures such as sealants and the high cost associated with the latest tools are likely to hinder the industrial growth during the forecast period.
The key companies profiled in the market are:
Key participants include Zimmer Biomet Holdings, Inc., Becton, Dickinson & Company, B. Braun Melsungen AG, Smith & Nephew Plc., Stryker Corporation, Aspen Surgical Products, Inc., Ethicon, Inc., Medtronic, Alcon Laboratories, and Boston Scientific Corporation among others.
For the purpose of this report, Reports and Data has segmented the Surgical Instruments market on the basis of type, application, category, and region:
Type (Revenue, USD Billion; 2016–2026)
- Surgical Sutures & Staplers
- Handheld Surgical Devices
- Electrosurgical Devices
Application (Revenue, USD Billion; 2016–2026)
- Neurosurgery
- Obstetrics & Gynecology
- Plastic & Reconstructive Surgery
- Orthopedic
- Other Applications
Category (Revenue, USD Billion; 2016–2026)
- Reusable
- Disposable
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The report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region. The Surgical Instruments market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
In-depth regional analysis covers:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- Rest of MEA
The report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period. The report also provides an insight into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market.
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Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Surgical Instruments market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Surgical Instruments market size
2.2 Latest Surgical Instruments market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Surgical Instruments market key players
3.2 Global Surgical Instruments size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Surgical Instruments market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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