Surgical Instrument

Surgical Instrument

The global surgical instruments market stands as a critical pillar of modern healthcare, providing essential tools for a wide range of surgical procedures. From traditional scalpels and forceps to advanced robotic systems, surgical instruments play a pivotal role in ensuring precise and minimally invasive interventions. With the increasing prevalence of chronic diseases and the growing geriatric population, the demand for surgical procedures is on the rise, driving the growth of the market. The market's expansion is further propelled by technological advancements, including the integration of advanced materials, robotics, and ergonomic designs, enhancing both surgeon performance and patient outcomes. As healthcare infrastructure develops globally, access to surgical interventions becomes more widespread, amplifying the demand for surgical instruments across diverse healthcare settings.

The surgical instruments market is expected to grow at a steady rate of around 8.5% owing to the rising aging population contributing to the surge in surgical procedures, including joint replacements, cataract surgeries, and various corrective procedures. Surgical instruments catering to geriatric-specific procedures are in demand, aligning with the demographic shift. The trend towards minimally invasive surgical procedures is gaining momentum due to their benefits, including shorter hospital stays, reduced post-operative pain, and quicker recovery times. This trend spurs the need for specialized surgical instruments that allow for precise and efficient minimally invasive interventions which will drive the growth of the surgical instruments market.

• Based on product, the market is segmented into surgical sutures & staplers, handheld surgical devices, and electrosurgical devices. The surgical sutures & staplers category is to witness higher CAGR during the forecast period. these devices are medical instruments used to close wounds and incisions during surgical procedures. They are considered a crucial component of surgical procedures, and their demand has been increasing due to the growing number of surgeries being performed worldwide. The advancement in technology has led to the development of more advanced and efficient surgical sutures & staplers, which are less invasive and cause less pain to the patient. This has resulted in an increase in the demand for these devices, thereby boosting the growth of the surgical instrument market.
• On the basis of application, the market is categorized into neurosurgery, wound care, obstetrics & gynecology, cardiovascular, orthopedic, and others. Among these, cardiovascular held a significant share of the market in 2022. This is mainly due to the growing number of severe cases of cardiovascular diseases and increasing related surgeries are the major growth factor of the market. For instance, according to the OECD stats, in the United Kingdom, the total number of surgical procedures performed was 4,82,938 in 2017 and it increased to 5,40,947 in 2019.
• Based on end-user, the surgical instruments market has been classified into hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers category is expected to grow at a considerable rate during the forecast period. This is mainly due to the increasing number of surgical procedures being performed at ASCs has led to an increase in the demand for surgical instruments. ASCs are more cost-effective than traditional hospitals, offering a more convenient and less invasive option for patients. As a result, more patients are choosing to have their surgeries performed at ASCs, which has increased the demand for surgical instruments.
• For a better understanding of the market adoption of the surgical instruments industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America will dominate the surgical instruments market during the forecast period. This is mainly due to the prevalence of chronic diseases, such as diabetes, cardiovascular disorders, and cancer, which continue to propel the demand for surgical interventions. The increasing number of surgeries, growing demand for organ transportation, technical progress in the medical industry, and R&D procedures are the major factors that will drive the growth of the surgical instruments market during the forecast period. For instance, according to the National Institutes of Health (NIH), 310 Mn major surgeries are performed each year in the U.S.
• Some of the major players operating in the market include B. Braun SE; Smith+Nephew; Zimmer Biomet; Stryker; Alcon; Aspen Surgical; Medtronic; Medical Device Business Services, Inc.; BD; Olympus Corporation

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