The surgical and medical instrument sales in the US are projected to continue on a growth trajectory even as year-on-year growth rates and cumulative annual growth rates (CAGR) show varying trends. From 2013 to 2023, the value of the market rose from $38.912 billion to $47.059 billion, representing a CAGR of approximately 1.93%. The year-on-year percentage increase from 2021 to 2022 was 1.85%, and from 2022 to 2023, it was 1.78%, indicating a slight deceleration relative to previous years. The forecasted CAGR for the next five years (2024-2028) is 1.25%, with an expected growth rate of 6.41% over this period.
Future trends to watch for in this market include:
- Advancements in medical technology and innovation, potentially driving sales upward.
- Increased demand for minimally invasive surgeries and outpatient procedures.
- Growing aging population and associated rise in healthcare needs.
- Policy and regulatory developments that could affect market dynamics.