Global Surgical Devices Market Size Study, by Device Type, by Product, by Application and Regional Forecasts 2022-2032

Description

The Global Surgical Devices Market is valued at approximately USD 127.48 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 10.5% over the forecast period 2024-2030. Surgical devices are indispensable tools and instruments employed by doctors and surgeons during medical procedures to conduct surgeries and other medical interventions. These devices are meticulously crafted to assist in cutting, dissecting, suturing, and other essential tasks inherent in surgical procedures. Ranging from basic handheld tools like scalpels and forceps to advanced equipment such as surgical robots and laparoscopic instruments, surgical devices are pivotal in ensuring precision, accuracy, and efficiency during surgeries, thereby contributing to enhanced patient outcomes.

The surgical devices market is poised for significant growth driven by rapid technological advancements, the increasing prominence of robotic surgeries, and the expanding aging population. Additionally, the surge in chronic diseases, rising demand for minimally invasive procedures, and the expansion of healthcare infrastructure are key factors propelling the market forward. However, the risks associated with surgical procedures and the high costs of surgical devices may impede market growth. On the contrary, the development of innovative surgical devices, untapped potential in emerging markets, and an increasing focus on personalized medicine and patient-centric care are creating lucrative opportunities for market growth.

The surgical sutures and staples segment is expected to dominate the surgical devices market during the forecast period due to the rising number of surgical wounds globally and the need for effective wound closure solutions. Surgical sutures and staples are crucial in providing reliable methods to close surgical wounds, ensuring faster wound healing and reducing infection risks.

The key regions considered for the Global Surgical Devices Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Surgical Devices Market in terms of revenue. The growth of the surgical devices market in North America is driven by technological advancements, increasing prevalence of chronic diseases, rising geriatric population, and high healthcare expenditure. Additionally, favourable government initiatives, a well-established healthcare infrastructure, and the adoption of minimally invasive surgical procedures further support market expansion. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period 2024-2032.

Major market players included in this report are:

Olympus Corporation
Becton, Dickinson and Company (BD)
Johnson & Johnson
Stryker Corporation
Boston Scientific Corporation
Medtronic plc
Karl Storz SE & Co. KG
Smith & Nephew plc
Abbott Laboratories
Teleflex Incorporated

The detailed segments and sub-segment of the market are explained below:

By Device Type:

Disposable Surgical Device
Reusable Surgical Device
Medical Robotics & Computer-assisted Devices

By Product:

Surgical Sutures and Staples
Auxiliary Instruments
Energy-based & Powered Instruments
Other Products

By Application:

Orthopaedic Surgery
Laparoscopy
Neurosurgery
Wound Closure
Other Applications

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Surgical Devices Market Executive Summary

1.1. Global Surgical Devices Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Device Type
- 1.3.2. By Product
- 1.3.3. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Surgical Devices Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Surgical Devices Market Dynamics

3.1. Market Drivers
- 3.1.1. Rapid Technological Advancements
- 3.1.2. Increasing Dominance of Robotic Surgeries
- 3.1.3. Growing Aging Population
3.2. Market Challenges
- 3.2.1. Risks Associated with Surgical Procedures
- 3.2.2. High Cost of Surgical Devices
3.3. Market Opportunities
- 3.3.1. Development of Innovative Surgical Devices
- 3.3.2. Untapped Potential in Emerging Markets
- 3.3.3. Increasing Focus on Personalized Medicine and Patient-centric Care

Chapter 4. Global Surgical Devices Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Surgical Devices Market Size & Forecasts by Device Type 2022-2032

5.1. Segment Dashboard
5.2. Global Surgical Devices Market: Device Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Disposable Surgical Device
- 5.2.2. Reusable Surgical Device
- 5.2.3. Medical Robotics & Computer-assisted Devices

Chapter 6. Global Surgical Devices Market Size & Forecasts by Product 2022-2032

6.1. Segment Dashboard
6.2. Global Surgical Devices Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Surgical Sutures and Staples
- 6.2.2. Auxiliary Instruments
- 6.2.3. Energy-based & Powered Instruments
- 6.2.4. Other Products

Chapter 7. Global Surgical Devices Market Size & Forecasts by Application 2022-2032

7.1. Segment Dashboard
7.2. Global Surgical Devices Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Orthopaedic Surgery
- 7.2.2. Laparoscopy
- 7.2.3. Neurosurgery
- 7.2.4. Wound Closure
- 7.2.5. Other Applications

Chapter 8. Global Surgical Devices Market Size & Forecasts by Region 2022-2032

8.1. North America Surgical Devices Market
- 8.1.1. U.S. Surgical Devices Market
  - 8.1.1.1. Device Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Product breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Surgical Devices Market
8.2. Europe Surgical Devices Market
- 8.2.1. U.K. Surgical Devices Market
- 8.2.2. Germany Surgical Devices Market
- 8.2.3. France Surgical Devices Market
- 8.2.4. Spain Surgical Devices Market
- 8.2.5. Italy Surgical Devices Market
- 8.2.6. Rest of Europe Surgical Devices Market
8.3. Asia-Pacific Surgical Devices Market
- 8.3.1. China Surgical Devices Market
- 8.3.2. India Surgical Devices Market
- 8.3.3. Japan Surgical Devices Market
- 8.3.4. Australia Surgical Devices Market
- 8.3.5. South Korea Surgical Devices Market
- 8.3.6. Rest of Asia Pacific Surgical Devices Market
8.4. Latin America Surgical Devices Market
- 8.4.1. Brazil Surgical Devices Market
- 8.4.2. Mexico Surgical Devices Market
- 8.4.3. Rest of Latin America Surgical Devices Market
8.5. Middle East & Africa Surgical Devices Market
- 8.5.1. Saudi Arabia Surgical Devices Market
- 8.5.2. South Africa Surgical Devices Market
- 8.5.3. Rest of Middle East & Africa Surgical Devices Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Olympus Corporation
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Becton, Dickinson and Company (BD)
- 9.3.3. Johnson & Johnson
- 9.3.4. Stryker Corporation
- 9.3.5. Boston Scientific Corporation
- 9.3.6. Medtronic plc
- 9.3.7. Karl Storz SE & Co. KG
- 9.3.8. Smith & Nephew plc
- 9.3.9. Abbott Laboratories
- 9.3.10. Teleflex Incorporated

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes