Global General Surgery Devices Market
The global general surgery devices market has witnessed robust growth over the past few years due to the rising burden of various surgical conditions worldwide. This article analyzes the key segments, drivers, restraints and future opportunities in the global general surgery devices industry.
Market Overview
General surgery devices are used in major surgeries involving the gastrointestinal tract, breast, soft tissue, skin and other areas outside the scope of cardiac, neuro, spinal, and plastic surgery. Some of the commonly used general surgery devices include sutures, staples, hand instruments, electric surgical devices and wound closure strips.
Sutures Segment Dominates
Among different product types, the sutures segment accounted for over XX% share of the Global General Surgery Devices Market in 2020. Sutures are crucial for closing incisions and wounds during surgeries. Absorbable and non-absorbable sutures made from polymers, catgut and other materials are widely used across general surgical procedures. Leading players like Ethicon offer a broad portfolio of suture products in braided, monofilament and multifilament configurations of varying sizes.
Electric Surgical Devices Growing Rapidly
The electric surgical devices segment is expected to witness the highest growth during the forecast period, expanding at a CAGR of over XX%. Electric surgical devices such as electrosurgical generators, bipolar instruments and monopolar instruments provide efficient alternatives to traditional cutting and coagulation methods. Their advantages include precision cutting, reduced blood loss and less scarring. Leading manufacturers like Medtronic, Olympus and Johnson & Johnson focus on continuous product innovations to drive the adoption of advanced electric surgery devices globally.
Regional Insights
North America commanded the largest share of over XX% in the global general surgery devices market in 2020 owing to the high reimbursement rates and well-established healthcare infrastructure in countries like the US and Canada. However, Asia Pacific is projected to showcase the fastest growth during 2021-2027 driven by India, China, Japan and other emerging Asian countries. Rapid economic development, rising medical tourism, growing public healthcare spending and the large patient pool will support the Asia Pacific general surgery devices industry.
Key Drivers and Restraints
Some of the key factors fueling the demand for general surgery devices worldwide include:
- Rising prevalence of surgical conditions such as hernia, appendicitis and tonsillitis among the aging population.
- Increasing healthcare spending, adoption of minimally invasive surgical techniques and expansion of private healthcare sector globally.
- Continuous technological advancements resulting in the availability of novel surgical tools, implants and consumables.
- Growing medical tourism in low-cost destinations offering quality surgical care.
However, factors like stringent regulatory approvals, limited reimbursement especially in developing nations and the high costs associated with technologically advanced general surgery devices are restraining the market growth to some extent.
Competitive Landscape
The global general surgery devices market includes numerous large, mid-size and startup companies competing for industry leadership. Some of the top players operating in this market are Johnson & Johnson, Medtronic, BD, Boston Scientific, Novartis, Bristol-Myers Squibb, Stryker, CONMED, Erbe Elektromedizin and B. Braun among others. They invest heavily in R&D activities, new product launches, mergers & acquisitions to strengthen their product portfolios and geographical footprints globally.
In January 2021, Johnson & Johnson acquired dental implants manufacturer, Megagen, for $3.3 billion to expand its bio-materials business. Similarly, in October 2020, Stryker acquired Wright Medical for $4 billion in an all-cash transaction to boost its extremity business. Such consolidation moves are common in the general surgery devices industry.
Future Opportunities
Looking forward, the future of general surgery devices market looks promising with continued technological upgrades. There is growing demand for endoscopy devices, advanced wound closure products and implants that expedite recovery and enable minimally invasive outpatient surgeries. Integration of robotics, big data analytics and augmented reality into surgical processes could disrupt the traditional equipment models in the coming years. Further, emerging markets like Latin America and parts of Asia will generate significant revenues for global giants with increasing access to surgical care in these regions.
Rapid disease burden and increasing surgeries worldwide will ensure sustained demand for general surgery devices over the long term. Continuous product launches and strategic inorganic growth initiatives by established companies will further consolidate their shares in this expanding multi-billion dollar market space.
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The key purpose of general surgery devices is to cut, clamp, grasp, tie, and spread anatomical parts of the human body during surgical procedures.
These devices are deployed primarily in hospitals, small clinics, and health care centers.Strong expertise with attention to detail makes our market research reports stand apart, Request a Report sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=30332 The increasing number of geriatric patients worldwide, awareness among patients about different surgeries and minimally invasive procedures, technological developments in surgical procedures such as robotic and power-assisted systems are factors likely to fuel the general surgery devices market in the next few years.
This has opened new avenues for growth of the global general surgery devices market.
However, the market is also facing challenges such as development of other non-invasive surgery technologies and intense competition among existing manufacturers of general surgery devices.
Moreover, factors such as product recalls, government regulations regarding reduction in overall health care costs, and subsequent increase in bulk purchasing through INHs (Integrated Health Networks) and GPOs (group purchasing organizations) are restraining the market.Pre Book General Surgery Devices Market Report –https://www.transparencymarketresearch.com/checkout.php?rep_id=30332=SThe general surgery market have been segmented by product, application, and geography.
In terms of product, it can be segmented into disposable surgical supplies, reusable, minimally invasive surgery instruments, energy-based and power devices, adhesion prevention products, and medical robotics and computer-assisted surgery devices.
