High demand for surgery procedures due to various reasons such as, chronic diseases like diabetes, cancer, and the heart diseases, and the rise in the number road mishaps and introduction new updated technology which helps in the surgery procedures are key factors contributing to high CAGR during forecast period.  

According to the current analysis of Reports and Data, the global Surgical Instruments market was valued at USD 11.75 Billion in 2018 and is expected to reach USD 21.52 Billion by year 2026, at a CAGR of 7.9%. The expected rise in the growth is subjected to various applications for which the surgery procedure is required.

These products are the key to successful surgery procedures in today’s world. The countries like China & India where the population is at par compared to other countries have large demand for the tools used in surgeries due to the fact that the cases with different issues for which the process is required are increasing day by day. The increasing prevalence of chronic diseases are the most common driver for this industry’s development. The procedures for heart diseases and the road accidents these are also another major drivers for the industrial growth of this industry. Moreover, the large number of child berths in the Asia-pacific region is another driving factor for this industry. The North America specifically the US is the most advanced country in the world in terms of advanced healthcare. The skilled professionals availability in the US is another major factor for driving this industry.

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Further key findings from the report suggest

  • Surgical Instruments market is growing at a CAGR of 2% in Asia Pacific followed by North America and Europe, with 8.0% and 7.9% CAGR, respectively. High rate of surgeries due to different diseases across the globe is the key factor to accelerate the industrial development during forecast period across all regions
  • As of 2018, Obstetrics & Gynecology is the dominating Surgical Instruments which holds 78% of the global industry. The Asian region is the chief revenue generating source for this product segment, followed by North America and Europe regions
  • Reusable category is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 8.3%. However, associated side effects and costs are major challenge for the industrial growth of this market segment
  • Handheld Devices (that includes Forceps & Spatulas, Retractors, Dilators, Graspers, Auxiliary Instruments, Cutter Instruments) was valued at USD 2.46 billion and is expected reach USD 4.36 billion by 2026
  • Surgery has been an essential component of public health. As longevity increases worldwide, its role is increasing rapidly. Lack of access to basic care remains a major concern in low-income settings. The parallel requirement for measures to improve the safety and reliability of interventions, however, has gone largely unrecognized.
  • An estimated 63 million people a year undergo surgical treatment for traumatic injuries, 31 million for malignancies and 10 million for obstetric complications. Problems associated with surgical safety are well recognized in developed and developing countries alike. In the developing countries, the poor state of infrastructure and equipment, unreliable supplies and quality of medications, shortcomings in organizational management and infection control, difficulties in the supply and training of personnel and severe under-financing contribute to the difficulties.
  • North America is expected to account for the 33% of the global Surgical Instruments market. The availability of quality surgical professionals, the availability of advanced technology for surgical practices will help witness the growth.
  • The growth in demand for alternatives to the surgery procedures such as sealants and the high cost associated with the latest tools are likely to hinder the industrial growth during the forecast period.

Regional Outlook:

North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.

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Competitive Outlook:

The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.

The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.

Top companies operating in the market and profiled in the report include:

Zimmer Biomet Holdings, Inc., Becton, Dickinson & Company, B. Braun Melsungen AG, Smith & Nephew Plc., Stryker Corporation, Aspen Surgical Products, Inc., Ethicon, Inc., Medtronic, Alcon Laboratories, and Boston Scientific Corporation among others.

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Further, the report segments the Surgical Instruments market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.

Surgical Instruments Market Segmentation:

Type (Revenue, USD Billion; 2016–2026)

  • Surgical Sutures & Staplers
  • Handheld Surgical Devices
  • Electrosurgical Devices

Application (Revenue, USD Billion; 2016–2026)

  • Neurosurgery
  • Obstetrics & Gynecology
  • Plastic & Reconstructive Surgery
  • Orthopedic
  • Other Applications

Category (Revenue, USD Billion; 2016–2026)

  • Reusable
  • Disposable

Regional Analysis covers:

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • UK.
    • Rest of EU
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • A.E
    • Rest of MEA

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