USD 14.58 Billion
General Surgery Devices Market Size, Share, Growth Analysis, By Type(Disposable Surgical Supplies, Open Surgery Instrument, Energy-based & Powered Instrument, Minimally Invasive Surgery Instruments), By Application(Orthopedic Surgery, Cardiology, Ophthalmology, Wound Care), By End-use(Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2629 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
100
|Figures:
76
General Surgery Devices Market Insights
General Surgery Devices Market size was valued at USD 15.80 Billion in 2022 and is poised to grow from USD 17.12 Billion in 2023 to USD 32.62 Billion by 2031, at a CAGR of 8.39% during the forecast period (2024-2031)
Increased patient information, a high frequency of heart-related illnesses, gastrointestinal disorders, and osteoporosis prevalence would all contribute to an increase in general surgical procedures during the anticipated period. Additionally, the market for general surgery instruments is projected to be driven by technical advancement and the uptake of advanced operations by developing nations. The robotics and computer-assisted industry has just recently begun to take off. At the moment, robots are used in a variety of general operations, including cholecystectomy, fundoplication, & Heller myotomy.
Furthermore, the market for general surgical devices is probably being driven by the rising adoption of minimally invasive, robotic, and computer-assisted surgery. For instance, the National Centre for Biotechnology Information (NCBI) article Trauma of Major Surgery published in 2020 estimates that over 310 million major surgeries are conducted each year throughout the world. A report by Weinstein Legal that was released in 2020 estimates that about 30 million kids and teenagers nationwide participate in youth sports each year. Surgery crises could ensue from this, which would raise the demand of general surgery equipment.
The health problems impacting the worldwide population are shifting from being illnesses related to lifestyle to being maladies brought on by infections and plagues as a result of industrialization and significant lifestyle changes. In industrialized, developing, and less developed countries, the condition has markedly increased the incidence of health problems such as cancer, cerebro-vascular illness, bone abnormalities, & cardiovascular and cancer diseases. Along with the rise in automobiles and other highly advanced vehicles on the road worldwide, so has the incidence of fatal collisions. These patterns suggest that the need for general surgeries is going to rise dramatically in the near future. As a result of the circumstance, there is likely to be a large increase in demand for basic surgical equipment worldwide. Due to the general surgery equipment market's tremendous growth potential, a sizable number of small and large general surgery equipment manufacturing businesses have entered the worldwide market, and new players are regularly entering the market.
A few factors influencing the global market for general surgery equipment include an aging population, the development of RFID and blockchain technologies, rising demand from emerging markets, increased awareness of surgical facilities, and an increasing burden of disease. the population's increasing risk of developing chronic diseases; the widespread use of portable surgical instruments. The cost of medical care at hospitals is higher. Because of this, an increasing number of patients are preferring to use portable surgical equipment and receive medical treatment at home. In developed markets, this factor is speeding market expansion. However, one significant roadblock is the high cost of surgical supplies. The enormous investments necessary to stay up with technological advancements in surgical equipment led to the pricey surgical gadgets. Advanced surgical equipment is quite expensive to purchase and requires a lot of upkeep. This restricts market expansion, especially in developing and rising regions.
US General Surgery Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
8.39% CAGR
Global General Surgery Devices Market ($ Bn)
Country Share for North America Region (%)
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General Surgery Devices Market Segmental Analysis
The global general surgery devices market is categorized on the basis of type, application, end-use, and region. Based on type, the market is segmented into disposable surgical supplies, energy-based & powered instrument, open surgery instrument, minimally invasive surgery instruments, medical robotics & computer assisted surgery devices, and adhesion prevention products. Based on application, the market is segmented into orthopedic surgery, ophthalmology, wound care, audiology, thoracic surgery, urology and gynecology surgery, cardiology, plastic surgery, neurosurgery, and others. Based on End-use the market is segmented into Hospitals, Ambulatory Surgical Centers, Specialty Clinics. Based on region the global General Surgery Devices Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
General Surgery Devices Market Analysis by Type
The market for general surgery equipment is divided into categories depending on product type, including disposable surgical supplies, open-heart surgery tools, energy-based & powered tools, minimally invasive surgery tools, adhesion prevention products, & medical robots & computer assisted surgery tools. Due to the strong demand for disposable items such needles, syringes, and catheters, the disposable surgical equipment segment had the biggest revenue share (51.8%) in 2022. Additionally, the market demand for disposable items is projected to increase due to rising awareness of diseases transmitted by surgical devices and government regulations protecting the safety of surgical procedures.
Additionally, during the projection period, devices for minimally invasive surgery are anticipated to expand at a substantial CAGR. Due to their decreased scarring and pain, increased precision, shorter hospital stays, and smaller incisions, minimally invasive treatments are becoming more popular in surgery. Medical displays ensure better diagnostic picture visibility by displaying even the tiniest alteration in tissues and cells, resulting in more precise and efficient operations. The field's continual technical advancements make better equipment available, enabling surgeons to perform surgical procedures quicker without jeopardizing patient safety.
General Surgery Devices Market Analysis by Application
In 2022, orthopedic surgery held the largest market share (17.5%), and as more cases of bone disorders and an aging global population are reported, this trend is expected to continue. Additionally, attractive reimbursement policies, the development of imaging and diagnostic techniques in orthopedic surgery, and product innovations are all expected to support the segment's growth.
The cardiology segment has fallen to second place all through the predicted period as a result of an increase in cases of cardiovascular disorders. According to WHO estimates, CVDs were responsible for 17.9 million deaths worldwide, or 32% of all fatalities. Heart attacks as well as strokes were responsible for 85% of these fatalities. A variety of additional issues, such as hypertension, high cholesterol, diabetes, & obesity, which can result in fatal coronary artery disease, cardiac arrests, or strokes, were also influenced by heredity and lifestyle choices. Heart attacks in 2022 were also more likely as a result of these circumstances. During these uncertain times, people have undergone a great deal of worry. As a result of severe stress, several risky habits have developed, including insufficient sleep, drinking too much alcohol, smoking, drug addiction, abusing cheap dietary supplements, and over-exercising.
Global General Surgery Devices Market By End-use
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General Surgery Devices Market Regional Insights
North America led the market for general surgical instruments in 2022 with a 40.0% market share, and it's expected that it will continue to hold that position during the forecast period. Favorable reimbursement policies, the existence of large market players nearby, and government efforts that make it possible to supply cutting-edge devices for surgical procedures & training sessions for doctors are the main drivers of its expansion.
Asia Pacific is anticipated to experience the quickest rate of growth during the forecast period as a result of greater investment in the area. Singapore, Australia, Japan, China, and India are the top donors in the Asia Pacific area. Increased awareness of reconstruction or cosmetic procedures, as well as government attempts to include improvements in reimbursement systems, are additional factors projected to encourage market expansion throughout the projection period.
Global General Surgery Devices Market By Geography
- Largest
- Fastest
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General Surgery Devices Market Dynamics
General Surgery Devices Market Drivers
Growing Number of Surgical Procedures
- The overall volume of surgical procedures performed globally is increasing. Factors such as the expansion of healthcare infrastructure, improved access to surgical care, and the increasing need for surgical treatments contribute to the growing demand for general surgery devices.
General Surgery Devices Market Restraints
High Cost of Surgical Devices
- General surgery devices can be expensive, especially advanced instruments and technologies. The high cost of these devices poses a restraint, particularly in regions with limited healthcare budgets or inadequate reimbursement systems, which can limit their adoption.
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General Surgery Devices Market Competitive Landscape
Market participants in the general surgical devices sector are pursuing strategic actions to enhance market share, including product development, geographic expansion, introductions, mergers, and acquisitions. This is because there are considerable opportunities in developing countries.
In order to broaden its surgical portfolio, Olympus introduced POWER SEAL improved bipolar surgical energy sources in 2021. A similar statement was made in 2021 by the New Delhi-based SS Technologies company, which said it would commercially launch India's first general surgical robotic equipment in the next 4-6 months.
General Surgery Devices Market Top Player’s Company Profiles
- Medtronic plc
- Johnson & Johnson
- Stryker Corporation
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Olympus Corporation
- Ethicon (a subsidiary of Johnson & Johnson)
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- ConMed Corporation
- Karl Storz SE & Co. KG
- Intuitive Surgical, Inc.
- Cook Medical Inc.
- Teleflex Incorporated
- B. Braun Melsungen AG
- Terumo Corporation
- Abbott Laboratories
- Merit Medical Systems, Inc.
- Mölnlycke Health Care AB
- Cardinal Health, Inc.
General Surgery Devices Market Recent Developments
- In August 2022, The MIRA Platform from Virtual Incision Corporation will put its capabilities to the test during a 2024 technological demonstration mission on the International Space Station (ISS).
- In June 2022, the launch of the Multilevel CerviKit, an expansion of Xenco Medical's ground-breaking single-use cervical spine technology to include a full suite of implants and single-use instruments for 2, 3, and 4 level prior cervical spine procedures, allowed the company to increase the scope of its ASC surgical device portfolio. The kit received US Food and Drug Administration clearance.
General Surgery Devices Key Market Trends
- Technological Advancements: The global general surgery devices market has been witnessing significant technological advancements, leading to the development of more innovative and precise surgical devices. These advancements include robotic-assisted surgery, minimally invasive surgery, and advanced imaging technologies.
- Minimally Invasive Surgery (MIS): Minimally invasive surgical procedures have gained popularity due to their benefits such as reduced scarring, shorter hospital stays, and faster recovery times. This has increased the demand for specialized surgical instruments and devices, such as laparoscopes, endoscopes, and robotic-assisted surgical systems.
- Growing Prevalence Of Chronic Diseases: The increasing prevalence of chronic diseases, such as cardiovascular diseases, cancer, and obesity, has resulted in a higher demand for surgical interventions. This, in turn, has boosted the demand for general surgery devices used in the diagnosis and treatment of these conditions.
- Aging Population: The global population is aging, leading to a higher incidence of age-related conditions and chronic diseases. The elderly population often requires surgical interventions, leading to an increased demand for general surgery devices.
- Emerging Markets: The demand for general surgery devices is rapidly growing in emerging markets, primarily due to improving healthcare infrastructure, rising disposable incomes, and increasing awareness about advanced surgical procedures. Countries in Asia, Latin America, and the Middle East are witnessing significant market growth.
General Surgery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global general surgery devices market analysis, the increased patient information, a high frequency of heart-related illnesses, gastrointestinal disorders, and osteoporosis prevalence would all contribute to an increase in procedures during the anticipated period. Additionally, the market for general surgery instruments is projected to be driven by technical advancement and the uptake of advanced operations by developing nations. The robotics and computer-assisted industry has just recently begun to take off. At the moment, robots are used in a variety of general operations, including cholecystectomy, fundoplication, & Heller myotomy. However, Asia Pacific is projected to emerge as the fastest growing region during the forecast period due to the advantages of advertising to the product's demand, it is projected that CPG companies will employ General Surgery Devices more frequently. Increased awareness of reconstruction or cosmetic procedures, as well as government attempts to include improvements in reimbursement systems, are additional factors projected to encourage market expansion throughout the projection period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.80 Billion |
| Market size value in 2031 | USD 32.62 Billion |
| Growth Rate | 8.39% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on General Surgery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on General Surgery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the General Surgery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the General Surgery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the General Surgery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the General Surgery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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