The global surgical equipment market size is expected to reach USD 31.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.4% from 2024 to 2030. The growing geriatric population, a rise in the volume of surgical procedures, technological advancements, and an increase in awareness regarding the benefits of early surgical intervention are expected to drive the market. In addition, growing disposable income in developing countries and rising demand for minimally invasive surgeries are expected to propel the growth of the market over the forecast period.
The rise in the prevalence of chronic diseases is another major factor that is expected to fuel the growth of the market. The increasing shift towards a sedentary lifestyle and a rise in the consumption of processed foods are leading to an increase in the prevalence of chronic diseases such as cardiovascular disorders. Thus, this is expected to have a positive impact and is anticipated to lead to a rise in the demand for surgical equipment over the forecast period
The market observed a sudden fall in the sales of surgical equipment during the first half of the pandemic. Postponement of elective surgeries, reduced hospital visits that resulted in delayed diagnosis, and disruption in the supply chain due to the lockdowns and restrictions imposed to curb the spread of the virus had a negative impact on the market. However, with the world returning to normalcy, the market is recovering at a very fast pace and is expected to grow significantly over the forecast period.
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Based on product, the surgical sutures and staplers segment dominated the market in 2023 due to its high adoption in wound closure
The disposable surgical equipment segment dominated the market and accounted for a significant market share of the market in 2023
North America accounted for the largest revenue share in 2023 due to the presence of a well-established healthcare infrastructure
The Covid-19 pandemic had a negative impact on the market. Postponed surgical procedures due to the lockdowns and restrictions led to a sharp fall in the sales of surgical equipment
Grand View Research has segmented the global surgical equipment market report based on type, product, application, and region
Surgical Equipment Product Outlook (Revenue, USD Million, 2018 - 2030)
Surgical Sutures & Staplers
Handheld Surgical Devices
Forceps & Spatulas
Retractors
Dilators
Graspers
Auxiliary Instruments
Cutter Instruments
Others
Electrosurgical Devices
Surgical Equipment Type Outlook (Revenue, USD Million, 2018 - 2030)
Reusable
Disposable
Surgical Equipment Application Outlook (Revenue, USD Million, 2018 - 2030)
Neurosurgery
Plastic & Reconstructive Surgery
Wound Closure
Obstetrics & Gynecology
Cardiovascular
Orthopedic
Others
Surgical Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Norway
Sweden
Denmark
Asia Pacific
China
Japan
India
Thailand
South Korea
Australia
Latin America
Mexico
Brazil
Argentina
MEA
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players of Surgical Equipment Market
Johnson & Johnson (Ethicon Inc.)
Zimmer Biomet
B. Braun SE
GPC Medical
IndoSurgicals Private Limited
Smith + Nephew
Stryker
Aspen Surgical
Medtronic
BD
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