Surgical Equipment Market Size Worth USD 31.46 Billion Globally with an Outstanding CAGR of 8.7% by 2029, Size, Share, Trends, Rising Demand and Growth Outlook
The growing preference for minimally invasive procedures, the surgical equipment market is steadily expanding. Furthermore, the increased frequency of chronic illness and accident cases has fuelled market growth
TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) — “Surgical Equipment Market” is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive environment are all dissected in detail in the research. To get an idea about the detailed market insights and keep market place clearly in focus, such a wide-ranging market research report has to be there in the picture. The surgical Equipment market analysis report makes available statistics on the current state of the industry and hence works as a valuable source of guidance and direction for companies and investors interested in this Surgical Equipment industry. Each of the topics of the report is researched and analyzed in detail for formulating a comprehensive Surgical Equipment market research report. The Surgical Equipment report has been worked upon with the best-practice models, comprehensive market analysis, and research methodologies so that clients attain perfect market segmentation and insights.
Data Bridge Market Research analyses that the surgical equipment market which was USD 16.14 billion in 2021, is expected to reach USD 31.46 billion by 2029, at a CAGR of 8.7% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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A surgical instrument used during a surgery or operation is referred to as surgical equipment. It is a specially designed tool or device for performing specific actions or achieving desired outcomes, such as changing biological tissue or providing access to examine it. Surgical equipment refers to the tools or instruments used during surgical procedures to perform specific tasks such as altering biological tissue or providing access to view it. Various types of surgical tools have been developed over time. Some surgical instruments are designed and developed for general use in surgery, while others are made specifically for a surgical procedure.
Neurological surgical devices are used to perform neurological surgery procedures such as aneurysms, brain tumours, cerebrovascular disease, epilepsy, Parkinson’s disease and tremors, stereotactic neurosurgery, trauma surgery, and among others. Furthermore, increasing technological advancement in minimally invasive surgeries, shorter hospital stays after surgery, and an increase in the number of ambulatory surgical centres are expected to drive market growth during the forecast period.
The growing need for power tools will drive the demand for surgical equipment. The Surgical Power Tools Market benefits from the growing demand for minimally invasive surgeries. Due to their advantages, there is increased adoption of battery-driven cordless surgical power tools. Vendors are increasingly focusing on the use of lithium-ion batteries in surgical tools. This is expected to improve the workflow efficiency of surgeons. These batteries offer high energy density, a long lifecycle, improved reliability, and high-performance standards. Moreover, there has been an increased demand for cordless surgical tools.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Surgical Equipment market. Sales and revenue in this sector have increased at an exponential rate. The market’s size and growth are both expected to increase thanks to the factors driving the market’s expansion over the projected period.
Leading businesses in the Surgical Equipment Industry are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies’ strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
The Surgical Equipment Market is Dominated by Firms Such as
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In June 2022, Xenco Medical expanded its Ambulatory Surgical Centers surgical device portfolio with the approval and launch of its Multilevel CerviKit by the US Food and Drug Administration. Single-use cervical spine technology includes a full suite of implants and single-use instruments for 2, 3, and 4-level anterior cervical spine procedures.
In June 2022, Ethicon, a Johnson & Johnson MedTech division, launched the ECHELON 3000 Stapler in the United States. It is a digitally enabled device that allows surgeons to address the unique needs of their patients with simple, one-handed powered articulation.
Key Market Segments Covered in Surgical Equipment Industry Research
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Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
Key Industry Drivers:
The growing preference for minimally invasive procedures, the surgical equipment market is steadily expanding. Furthermore, the increased frequency of chronic illness and accident cases has fuelled market growth. Recent advances in minimally invasive procedures are evidence of significant surgical equipment advancements that have contributed to market growth in the past. Surgeons have been able to deliver greater precision in complex procedures. These are some of the advancements propel the market’s growth.
The increasing number of surgeries benefits the surgical equipment industry. Surgeries, particularly general surgery, which includes procedures on the oesophagus, appendix, stomach, large intestine, small intestine, liver, gallbladder, pancreas, and bile ducts, have grown rapidly in recent years. Furthermore, the rising global prevalence of chronic diseases had been a significant driver of market growth. Furthermore, an increase in the number of thyroid problems around the world has increased demand for sophisticated surgical equipment that allows for more precise treatment. The surgical equipment industry is expected to benefit from this.
Surgical Equipment Market Regional Analysis/Insights:
The countries covered in the surgical equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the surgical equipment market owing to the occurrence of well-established infrastructure along with technological advancement and adoption of minimally invasive surgeries.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the growing concern regarding medical tourism.
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It’s in your best interest to take this report into consideration because:
The report’s findings are presented in an approachable format, with accompanying visuals (such as histograms, bar graphs, pie charts, etc.) that make the data readily digestible.
The potential, threats, and difficulties in the Surgical Equipment market, as well as the factors driving and restraining it, are discussed at length.
Table of Contents:
Global Surgical Equipment Market: Regulations
Global Surgical Equipment Market, By Product
Global Surgical Equipment Market, By Application
Global Surgical Equipment Market, By Category
Global Surgical Equipment Market, By Region
Global Surgical Equipment Market: Company Landscape
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