Global Surgical Equipment Market Size study, by Product, by Category, by Application and Regional Forecasts 2024-2032

Description

The global surgical equipment market was valued at approximately USD 37.45 billion in 2023 and is poised for significant growth with a projected CAGR of 5.2% over the forecast period from 2024 to 2032. Surgical equipment, encompassing a wide array of tools, instruments, and devices, is indispensable in facilitating precise and effective surgical procedures. These instruments are crucial in assisting healthcare professionals, particularly surgeons, in executing surgical tasks with accuracy and safety, thus playing a vital role in the advancement of modern medical practices. The market for surgical equipment has witnessed substantial growth due to several key factors that are reshaping the healthcare landscape.

Technological advancements have been a primary driver of growth within the surgical equipment market. Innovations such as minimally invasive surgical techniques, robotic-assisted surgeries, and enhanced imaging technologies have revolutionized the field, offering improved surgical outcomes, reduced patient recovery times, and enhanced procedural precision. As healthcare facilities worldwide increasingly adopt these advanced technologies, the demand for modern surgical equipment continues to surge. Additionally, the global rise in the aging population has significantly contributed to the market's expansion. The elderly population is more susceptible to various health conditions requiring surgical intervention, such as cardiovascular diseases, orthopedic issues, and cancer, which in turn drives the demand for surgical equipment. Moreover, the increasing prevalence of chronic diseases, including diabetes, cancer, and cardiovascular disorders, necessitates a growing number of surgical interventions. This trend, coupled with heightened awareness of early diagnosis and the availability of advanced surgical treatments, further bolsters the market. Emerging markets, particularly in the Asia-Pacific and Latin America regions, present substantial growth opportunities as healthcare infrastructure expands, and the demand for surgical equipment rises alongside improving access to medical services.

However, the market faces challenges, notably the high cost of advanced surgical equipment. While technological advancements have propelled the industry forward, the steep prices of these cutting-edge tools pose a significant barrier, particularly for smaller healthcare facilities and those in developing regions. This challenge is exacerbated by global efforts to reduce healthcare costs, which can deter investment in expensive surgical technologies.

Geographically, North America held the largest market share in 2023, driven by the presence of major industry players, advanced manufacturing technologies, and a well-established healthcare infrastructure. The region's high purchasing power and rapid adoption of advanced surgical equipment further contribute to its market dominance. Meanwhile, the Asia-Pacific region is expected to experience the highest growth rate during the forecast period, fueled by expanding healthcare infrastructure, rising prevalence of chronic diseases, and growing patient awareness and acceptance of minimally invasive procedures.

Major market players included in this report are:

KLS Martin Group
Boston Scientific Corporation
B. Braun SE
Fuhrmann GmbH
ConMed Corporation
Entrhal Medical GmbH
Johnson & Johnson
Integra LifeSciences Holdings Corporation
Cousin Surgery, LLC
Medtronic plc

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

By Product:

Surgical Sutures and Staplers
Handheld Surgical Equipment
Electrosurgical Devices
Other Surgical Equipment

By Category:

Reusable Surgical Equipment
Disposable Surgical Equipment

By Application:

Neurosurgery
Plastic and Reconstructive Surgeries
Wound Closure
Urology
Obstetrics and Gynecology
Thoracic Surgery
Microvascular
Cardiovascular
Orthopedic Surgery
Laparoscopy
Others

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Equipment Market Executive Summary

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

Chapter 2. Global Surgical Equipment 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 Equipment Market Dynamics

3.1. Market Drivers
- 3.1.1. Technological Advancements
- 3.1.2. Aging Population
- 3.1.3. Increase in Chronic Diseases
3.2. Market Challenges
- 3.2.1. High Cost of Advanced Surgical Equipment
3.3. Market Opportunities
- 3.3.1. Emerging Markets
- 3.3.2. Development of Single-Use Instruments

Chapter 4. Global Surgical Equipment 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 Equipment Market Size & Forecasts by Product 2022-2032

5.1. Segment Dashboard
5.2. Global Surgical Equipment Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Surgical Sutures and Staplers
- 5.2.2. Handheld Surgical Equipment
- 5.2.3. Electrosurgical Devices
- 5.2.4. Other Surgical Equipment

Chapter 6. Global Surgical Equipment Market Size & Forecasts by Category 2022-2032

6.1. Segment Dashboard
6.2. Global Surgical Equipment Market: Category Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Reusable Surgical Equipment
- 6.2.2. Disposable Surgical Equipment

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

7.1. Segment Dashboard
7.2. Global Surgical Equipment Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Neurosurgery
- 7.2.2. Plastic and Reconstructive Surgeries
- 7.2.3. Wound Closure
- 7.2.4. Urology
- 7.2.5. Obstetrics and Gynecology
- 7.2.6. Thoracic Surgery
- 7.2.7. Microvascular
- 7.2.8. Cardiovascular
- 7.2.9. Orthopedic Surgery
- 7.2.10. Laparoscopy
- 7.2.11. Others

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

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

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. KLS Martin Group
  - 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. Boston Scientific Corporation
- 9.3.3. B. Braun SE
- 9.3.4. Fuhrmann GmbH
- 9.3.5. ConMed Corporation
- 9.3.6. Entrhal Medical GmbH
- 9.3.7. Johnson & Johnson
- 9.3.8. Integra LifeSciences Holdings Corporation
- 9.3.9. Cousin Surgery, LLC
- 9.3.10. Medtronic plc

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