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Surgical Equipment Global Market Report 2022

Surgical Equipment Global Market Report 2022

  • May 2022
  • 250 pages
  • ID: 6277148
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the surgical equipment market include Johnson & Johnson (J&J), Stryker Corporation, Intuitive Surgical, B. Braun Melsungen AG, and Getinge Group.

The global surgical equipment market is expected to grow from $24.53 billion in 2021 to $26.89 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The market is expected to grow to $36.42 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%.

The surgical equipment market consists of sales of surgical equipment and related services by entities (organizations, sole traders, and partnerships) that produce surgical equipment used during surgeries.

The main types in the surgical equipment are surgical sutures and staples, handheld surgical devices and equipment, electrosurgical devices, and equipment.The surgical sutures also known as stitches, are sterile surgical threads used to repair cuts.

They are used to close incisions in surgery.Staples is a town used as a center for the sale or exportation of commodities in bulk.

The type of expenditure is public, private.The products used are instruments/equipment, disposables.

The various end-users are hospitals and clinics, diagnostic laboratories, and others.

North America was the largest region in the global surgical equipment market in 2021.Western Europe was the second-largest region in the global surgical equipment market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Growing demand for minimally invasive surgery (MIS) will increase the demand for advanced surgical equipment.An MIS refers to any surgical procedure that requires minimal incisions as opposed to traditional or open surgery used for the same purpose.

Preference for MIS procedures increased due to their multiple advantages such as short healing and recovery time, minimal scarring, cost-effectiveness, minimal trauma and pain, and decreased risk of infections and complications.Medical technology innovations led to the development of advanced surgical equipment such as Da Vinci surgical systems, C-arm devices, electrosurgical and power-assisted surgical equipment.

These devices which enable MIS will drive the surgical equipment market during the forecast period.

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period; this is expected to limit new investments in the market.Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.

This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, making it harder for companies in the surgical equipment market to raise funds for developing new devices thereby affecting the market growth.

Surgical equipment manufacturers are offering next-generation ultrasonic surgical devices to simplify complex surgical procedures.Modern ultrasonic surgical devices are multifunctional instruments capable of performing tissue plane dissection, coagulation, and transection during laparoscopic or open surgical procedures.

Next-generation ultrasonic devices feature adaptive tissue technology.In this technology ultrasonic algorithm actively monitors the condition of the tissue within the jaws of the device and allows the system to intelligently sense and respond to changes in patient tissue conditions.

The system modulates energy delivery based on tissue thickness and tissue type to optimize vessel sealing and provide for secure and reliable large vessel sealing. Ethicon’s Harmonic devices feature adaptive tissue technology

The countries covered in the surgical equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

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