Surgical Equipment Market to Reach US$ 15.3 billion by 2030
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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% from 2022 to 2030. Surgical equipment is a medical device commonly used during a surgical procedure. They are used in orthopedic, thoracic, oral, neurology, and ENT surgeries. This equipment constitutes an integral part of the orthopedic, cardiovascular, spine, ENT, and neurological surgeries. These tools permit surgeons to work accurately and efficiently. They are used in every aspect of surgery, ranging from wound management to drilling, sawing, and reaming in long bone fractures using screws and nails. These tools are further improved to make them lighter for easy handling by surgeons. Advanced surgical equipment is reliable as they are high on performance and easy to assemble. Surgical equipment such as drills, retractors, clamps, and reamers produces a thread pattern in the human body.
Surgical equipment can be classified into two types: reusable and disposable. The equipment line depends on the type of surgery required. Some of the common shapes of surgical equipment include straight, curved, or circular. These instruments find their use in open and closed surgeries. The market is witnessing rapid advancements in technology. However, surgeons cannot understand the clinical or scientific basis of the optimal use of these devices in several cases. Therefore, many surgeons undergo training programs for effective results.
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Global Surgical Equipment Market Dynamics
Drivers: Growing Demand for Power Tools in Surgical Procedures
The growing need for power tools will drive the demand for surgical equipment. The surgical power tools market benefits from the growing demand for minimally invasive surgeries. There is increased adoption of battery-driven cordless surgical power tools due to their advantages. Vendors are increasingly focusing on the use of lithium-ion batteries in surgical tools. This is expected to improve the workflow efficiency of surgeons. These batteries offer high energy density, long lifecycle, improved reliability, and high-performance standards. Moreover, there has been an increased demand for cordless surgical tools.
Restraints: Complications in the Use of Surgical Equipment
Increasing complications with the use of surgical equipment may hinder the growth prospects in the market. Risks associated with surgical instruments include implementing improper techniques by the surgeon or the technician, leaving an instrument inside the patient after performing surgery, and transmitting infection due to improper cleaning and sterilization techniques. Improperly cleaned or sterilized instruments contribute to post-operative infections or mortality. Improper use of surgical equipment may lead to post-operative complications. As there is an increased technological integration, there is an increased likelihood that multiple components of the surgical equipment can malfunction.
Opportunities: Advent of Robotic Surgery Driving the Demand for Surgical Equipment
The increased need for robotic surgery is likely to drive the demand for surgical equipment. Robotic-assisted surgeries require integrating various surgical equipment, including power tools, to perform various procedures. For instance, surgical robots work with four arms, which increases the demand for various surgical equipment, including power tools. For instance, the surgical robot developed by the University of Washington makes use of multiple surgical tools during surgical operations. They are programmed, computer-controlled devices, which can help position surgical instruments.
The advantages associated with these systems will drive the adoption substantially. For instance, robotic surgical systems help to reduce post-surgical complications and decrease the procedural cost considerably.
Scope of the Surgical Equipment
The study categorizes the surgical equipment market based on product type, application, end-users at the regional and global levels.
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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)
The surgical sutures and staplers segment is projected to account for the largest market share, by product type
Based on product type, the global surgical equipment market is divided into surgical sutures and staplers, hand-held surgical devices, and electrosurgical devices. In 2021, the sutures and staplers segment accounted for the largest market share of 50.1% in the global surgical equipment market. Surgical sutures are medical devices used to hold body tissues together during an injury or surgery. A needle generally performs this with an attached length of thread. These sutures are available in different materials, sizes, and shapes. Surgeons, physicians, dentists, podiatrists, ophthalmologists, registered nurses, other trained nursing personnel, and clinical pharmacists mostly prefer suturing surgical procedures. Surgical knots are used to secure the sutures.
Surgical sutures are medical devices used to hold body tissues together during an injury or surgery. A needle generally performs this with an attached length of thread. These sutures are available in different materials, sizes, and shapes. Surgeons, physicians, dentists, podiatrists, ophthalmologists, registered nurses, other trained nursing personnel, and clinical pharmacists mostly prefer suturing surgical procedures. Surgical knots are used to secure the sutures.
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Asia Pacific accounts for the highest CAGR during the forecast period
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. The surgical equipment market in APAC is anticipated to witness higher growth potential than other regions. This can be attributed to rapidly developing healthcare infrastructure, the growing medical tourism industry, and attractive pre-approved loan schemes for the mid-tier hospitals from government banks.
For instance, China is making substantial investments in hospital remodeling and upgrading their lower-tier hospitals to higher urban hospitals, especially in the rural areas, which require sophisticated surgical equipment. Vendors also focus on solidifying their relationships with the surgeons and end-users by offering training sessions. They also provide innovative pricing and financing models to create awareness about the benefits of advanced surgical equipment such as electrosurgical devices as part of their marketing strategy. The leading global companies who have already partnered with local medical equipment vendors to generate revenue from the developed markets are also focusing on implementing the same strategy in this highly untapped market.
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Key Market Players
The surgical equipment market is mildly concentrated in nature with few numbers global players operating in the market such as Medtronic Plc., Johnsons & Johnsons, Conmed Corporation, Novartis International AG, Smith & Nephew PLC, Peters Surgical SASU, Boston Scientific Corporation, Cousin-Biotech, Enthral Medical GMBH, Fuhrmann GMBH, Integral Lifesciences Holdings Corporation, B. Braun Melsungen AG, and KLS Martin Group. Every company follows its business strategy to attain the maximum market share.
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