Surgical equipment is medical devices/tools that serve a specific purpose during surgery. These tools enable the physical modification of biological tissue to provide access to underlying body components. The global surgical equipment market is expected to grow at a significant CAGR of 11.1% during the forecast period. The inception of modern electronic technologies such as minimally invasive surgery equipment, and robotic & power-assisted systems are primarily driving the surgical equipment market. The development of the da Vinci Surgical System by Intuitive Surgical, Inc., in 2011 has provided a breakthrough platform for robotic-assisted surgeries. Despite such promising factors, inadequate quality assurance concerning performance, improper sterilization procedures for reusable equipment, and the absence of an affirmative regulatory framework in some regions (such as developing economies).stand as restraints to the development of the market.
Medtronic Inc., Stryker Corporation, Conmed Corporation, Carefusion Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Ethicon Inc., Zimmer Holdings Inc., and KLS martin group are the key players in this market and are sharing approximately half of the global revenue of the surgical equipment market. Presently, Stryker, Zimmer, and Carefusion are dominating the market for electrosurgical devices that are anticipating tremendous growth in the overall surgical equipment market during the study period. Product launch is the popular strategy followed in the global surgical equipment market, which has helped the manufacturers to gain substantial market share. Recently, Zimmer had launched three products for minimally invasive surgery, namely Viewline Retractor System, Tube Retraction System, and Posterior Instrument Set. These products largely find their applications in microdiscectomy procedures.
Surgical Equipment Market
The global surgical equipment market is segmented based on equipment types, applications, and geography. Surgical equipment types are further categorized as surgical Sutures and Staples, Handheld Surgical Devices, Electrosurgical Devices, and Others. Handheld surgical devices are further classified into Scalpels, Forceps, Retractors, and Scissors. Surgical sutures and staples account for the largest market share owing to the growing number of surgeries performed. This equipment find frequent applications in all type of surgeries that are performed globally. However, the global market for surgical sutures and staples is expected to decline during the forecast period due to a shift in customer preferences from traditional (invasive) to minimally invasive surgeries. Electrosurgical devices are the fastest-growing segment due to advancements in technology and high demand for minimally invasive surgeries. Surgical equipment has wide applications in different surgical procedures such as Neurosurgery, Plastic and reconstructive surgeries, Wound Closure, Urology, Obstetrics and gynecology, Thoracic surgery, Microvascular, Cardiovascular, Orthopedic surgery, Laparoscopy, and Others.
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Geographically, the global surgical equipment market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Potential regions of the respective geographies are strategically analyzed to provide country-wise intelligence on the surgical equipment. North America dominates the global surgical equipment market followed by Europe and Asia-Pacific. The growth in North America and Europe is primarily driven by the advent of new technologies, a growing aging population, a favorable regulatory framework, and high disposable income among the consumers. However, business dynamics in Asia-pacific is expected to witness substantial growth owing to the advancing medical tourism industry, rising unmet healthcare needs, rising prevalence of chronic diseases that require surgical procedures, and favorable reimbursement scenarios.
This report offers the following benefits in particular:
In-depth exposure to the global surgical equipment market is provided and light is shed on market dynamics that would prove crucial in understanding the market Quantitative analysis of the current market and estimations through 2013-2020 would assist strategists to design business strategies to capitalize on the prevailing opportunities in the market Porter's Five Forces analysis examines the competitive structure of the global surgical equipment market and also provides a deeper understanding of the influence factors for market-entry and market expansion Pin-point analysis of geographic segments proffers identification of the most profitable segments to capitalize on Strategic analysis of the key leaders and their business strategies within the global surgical equipment market provided would assist stakeholders to make more informed business decisions
KEY MARKET SEGMENTS
The global surgical equipment market is segmented into three major categories such as, types, applications and geography.
Neurosurgery Plastic and Reconstructive Surgeries Wound Closure Urology Obstetrics and Gynecology Thoracic Surgery Microvascular Cardiovascular Orthopedic Surgery Laparoscopy Others
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MARKET BY GEOGRAPHY
North America U.S. Canada Mexico Europe France Germany U.K. Others Asia Pacific China India Japan Australia Others LAMEA Latin America Middle East Africa
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