Surgical Equipment Market worth USD 15.3 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Surgical Equipment Market by Product Type (Surgical Sutures and Stapling Devices, Hand-Held Surgical Equipment (Dilators, Forceps and spatulas, Cutter Instruments, Retractors, and Others), and Electrosurgical Equipment), by Application (Obstetrics and Gynecology, Orthopedics, Thoracic, Wound Closure, Plastic and Reconstructive, and Neurology), by End-Users (Hospitals, ASCs, and Clinic), by Region – Global Share and Forecast to 2030". The global surgical equipment market size is expected to grow from USD 7.0 billion in 2021 to USD 15.3 billion by 2030, at a CAGR of 10.3% during the forecast period. Growth in surgical procedures is expected to fuel the market growth. Increased incidences of chronic disorders such as cardiovascular, orthopedic, and neurological diseases will lead to surgical procedures. Orthopedic diseases such as arthritis and spinal deformities and neurological disorders such as dementia and epilepsy have increased worldwide in a couple of years. Many of these diseases are amenable to surgical intervention. The increasing popularity of minimally invasive procedures is expected to fuel market growth. Minimally invasive surgeries are lucrative, growing at a double-digit growth rate.

Global Surgical Equipment Market Segmentation

The surgical equipment market has been segmented into product type, application,  end-users, and region.

By Product Type Outlook (Sales/Revenue, USD Million, 2017-2030)

• Surgical Sutures and Stapling Devices
• Hand-held Surgical Equipment
  • Dilators
  • Forceps and spatulas
  • Cutter instruments
  • Retractors
  • Others
• Electrosurgical Equipment

By Application Outlook (Sales/Revenue, USD Million, 2017-2030)

• Obstetrics and Gynecology
• Orthopedics
• Thoracic
• Plastic and Reconstructive
• Wound Closure
• Neurology

By End-Users Outlook (Sales/Revenue, USD Million, 2017-2030)

• Hospitals
• ASCs
• Clinic

By Region Outlook (Sales/Revenue, USD Million, 2017-2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Obstetrics, by application, is estimated to hold the largest market share during the forecast period

By application, the global surgical equipment market is segregated into obstetrics and gynecology, orthopedics, thoracic, plastic and reconstructive, wound closure, and neurology. The obstetrics segment generated the highest revenue of 27.6% of the global surgical equipment market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. Gynecology surgeries are performed on the female reproductive system, and gynecologists perform them. They include treating benign conditions, cancer, infertility, and incontinence. The growing prevalence of gynecology conditions is increasing the demand for surgical equipment.

The increasing incidence of gynecology disorders is expected to drive market growth. According to the CDC, approximately 12,042 new cases of cervical cancer were diagnosed in the US. Further, advancements in technology are expected to drive market growth.

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North America accounts for the largest market share in the surgical equipment market in 2021

Based on the regions, the global surgical equipment market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 36.1% in the global surgical equipment market and was anticipated to maintain its dominance throughout the forecast period. The surgical equipment market in North America is projected to grow steadily during the forecast period due to the increased adoption of technologically advanced surgical systems. Being the two strong economies globally, the US and Canada are currently witnessing the maximum number of product launches.

Vendors also focus on developing a wide range of innovative surgical equipment to generate substantial revenue. Also, there is a growing demand for reusable devices in the US to reduce infection-related risks during surgical procedures; therefore, vendors are focusing on launching new reusable surgical equipment to prevent the risk.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the surgical equipment market. It also consists of the profiles of leading companies such as Medtronic Plc., Conmed Corporation, Novartis International AG, Smith & Nephew PLC, Johnsons & Johnsons, Peters Surgical SASU, Cousin-Biotech, Enthral Medical GMBH, Fuhrmann GMBH, Boston Scientific Corporation, Integral Lifesciences Holdings Corporation, B. Braun Melsungen AG, and KLS Martin Group. These market players have focused on acquisitions and expansion to gain a larger market share in the surgical equipment market.

Browse complete report: https://www.marketstatsville.com/surgical-equipment-market

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