Global Surgical Equipment Market Size & Outlook, 2023-2030
Global surgical equipment market, 2018-2030 (US$M)
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Global surgical equipment market highlights
- The global surgical equipment market generated a revenue of USD 16,876.2 million in 2023 and is expected to reach USD 31,575.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 9.4% by 2030.
- In terms of segment, surgical sutures & staplers accounted for a revenue of USD 7,584.8 million in 2023.
- Electrosurgical Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Thailand is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 16,876.2 million |
| Market revenue in 2030 | USD 31,575.2 million |
| Growth rate | 9.4% (CAGR from 2023 to 2030) |
| Largest segment | Surgical sutures & staplers |
| Fastest growing segment | Electrosurgical Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices |
Other key industry trends
- In terms of revenue, the North America accounted for 40.5% of the global surgical equipment market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Thailand is the fastest growing regional market and is projected to reach USD 261.8 million by 2030.
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Surgical Equipment Market Scope
Surgical Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global surgical equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to surgical equipment market will help companies and investors design strategic landscapes.
Surgical sutures & staplers was the largest segment with a revenue share of 44.94% in 2023. Horizon Databook has segmented the Global surgical equipment market based on surgical sutures & staplers, handheld surgical devices, electrosurgical devices covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing aging population coupled with growing prevalence of chronic diseases has further contributed to the growth of the market. Older adults require several surgical interventions for conditions like joint replacements, cardiac surgeries, and cancer treatments.
As the geriatric population expands, the demand for surgical procedures is expected to rise, subsequently boosting the demand for surgical instruments, including surgical equipment. Moreover, ensuring high-quality surgical outcomes while minimizing tissue damage has become an important factor in these cases, thus, driving the adoption of advanced needle holder technologies.
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Target buyers of Global surgical equipment market databook
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Our clientele includes a mix of surgical equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global surgical equipment market , including forecasts for subscribers. This global databook contains high-level insights into Global surgical equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global surgical equipment market size, by region, 2018-2030 (US$M)
Top 10 countries: Surgical equipment market size, 2023 (US$M)
Global surgical equipment market share, by product, 2023 & 2030 (%, US$M)
Surgical equipment market: Opportunity assessment by country
Global surgical equipment market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 4,898.6 | 5,221.7 | 3,815.2 | 5,844.8 | 6,306.8 | 6,827.3 | 7,403.5 | 8,038.6 | 8,741.7 | 9,525.3 | 10,397.0 | 11,368.0 | 12,445.4 | 9.0% |
| Europe | 3,482.6 | 3,704.5 | 2,700.8 | 4,128.7 | 4,445.4 | 4,801.6 | 5,195.3 | 5,628.4 | 6,106.8 | 6,639.0 | 7,229.9 | 7,886.7 | 8,613.9 | 8.7% |
| Asia Pacific | 2,390.8 | 2,595.3 | 1,930.6 | 3,010.9 | 3,306.7 | 3,642.6 | 4,018.9 | 4,439.0 | 4,909.7 | 5,440.3 | 6,037.8 | 6,711.4 | 7,468.4 | 10.8% |
| Latin America | 726.7 | 785.6 | 582.1 | 904.3 | 989.4 | 1,085.9 | 1,193.7 | 1,313.9 | 1,448.2 | 1,599.3 | 1,769.1 | 1,960.2 | 2,174.5 | 10.4% |
| MEA | 391.9 | 413.6 | 299.2 | 453.6 | 484.4 | 518.8 | 556.6 | 597.7 | 642.7 | 692.4 | 747.0 | 807.1 | 873.0 | 7.7% |
| Overall | 11,890.5 | 12,720.7 | 9,327.9 | 14,342.2 | 15,532.6 | 16,876.2 | 18,368.1 | 20,017.5 | 21,849.1 | 23,896.3 | 26,180.8 | 28,733.5 | 31,575.2 | 9.4% |
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