Surgical Equipment Market by Product, Type, Application

List of Tables

[187 Pages Report] The Surgical Equipment Market size was estimated at USD 15.24 billion in 2023 and expected to reach USD 16.47 billion in 2024, at a CAGR 8.38% to reach USD 26.79 billion by 2030.

Surgical equipment is a hand-held tool used by clinicians to perform surgical tasks such as initial incision and tissue cutting. This market serves an array of settings, from hospitals to ambulatory centers, with equipment ranging from scalpels and sutures to advanced imaging devices. The market expansion is supported by increasing global healthcare expenditures and a rising need for treatments based on surgical interventions due to the prevalence of chronic diseases. However, the market faces challenges such as the high costs associated with advanced devices, stringent regulatory landscapes, and significant training demands for healthcare professionals. Furthermore, emerging developments in training platforms and the use of minimally invasive techniques and robotic surgery are anticipated to drive the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 15.24 billion
Estimated Year [2024]	USD 16.47 billion
Forecast Year [2030]	USD 26.79 billion
CAGR (%)	8.38%

Regional Insights

In the Americas, pioneering advancements in robotic surgery and laser technologies were spurred by the high need for minimally invasive procedures. Rigorous Food and Drug Administration (FDA) regulations ensure that only high-quality and certified equipment thrives in America. Countries such as the United States, Brazil, Canada, and Mexico are adopting cutting-edge technologies such as surgical navigation systems in surgical equipment. The European market is highly regulated, with an emphasis on the safety and efficacy of surgical devices, driven by directives such as the Medical Devices Regulation (MDR). Consumers in EU countries favor technologically advanced, eco-friendly, and user-friendly products, which supports the market growth in the region. Middle East and Africa present a varied scenario where regions such as South Africa and Egypt lead in the adoption of sophisticated surgical devices supported by international and government investments in healthcare. The Asia Pacific region countries are noteworthy for their rapidly evolving markets by boosting local manufacturing and integrating AI into surgical practices through government support and healthcare reforms. Countries of APAC are integrating various government initiatives such as Ayushman Bharat, which is catering to price-sensitive health-consciousness.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Surgical Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising incidences of chronic diseases needing complex surgeries
- Expansion of the hospital and clinic infrastructure across the world
- Government policies promoting advancements in manufacturing surgical equipment

Market Restraints
- Incidences of product recall of surgical equipment

Market Opportunities
- Surging technological developments to improve the safety and performance of surgical equipment
- Favorable regulatory support for approval and use of surgical equipment

Market Challenges
- Need for frequent maintenance of surgical equipment

Market Segmentation Analysis
- Product: Increased incorporation of electrosurgical devices due to the need for precision treatment
- Application: Rising use of surgical equipment in neurosurgery owing to minimally invasive techniques

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Surgical Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Surgical Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Stille's Strategic Acquisition of Fehling Instruments to Expand Global Footprint in Surgical Equipment

Stille announced an acquisition agreement to buy Fehling Instruments, a German company renowned for its high-quality surgical instruments. This strategic move aims to enhance Stille's global presence and broaden its product portfolio in the surgical equipment market. By integrating Fehling's expertise and advanced technologies, Stille plans to strengthen its position in the industry, offering a more comprehensive range of solutions to healthcare providers worldwide. [Published On: 2023-11-29]

Microline Surgical Broadens Product Range with Acquisition of Retraction Limited's Surgical Instrumentation Assets

Microline Surgical announced the strategic expansion of its healthcare product offerings through the acquisition of surgical instrumentation assets from Retraction Limited. This move is aimed at enhancing Microline's portfolio and solidifying its position in the surgical equipment market. This development underscores Microline Surgical's commitment to providing state-of-the-art tools to healthcare professionals, ensuring better patient outcomes and supporting the evolution of surgical practices. [Published On: 2023-11-22]

STERIS Expands Healthcare Product Range with Acquisition of Surgical Holdings

STERIS, recently broadened its range of healthcare offerings through the acquisition of UK-based Surgical Holdings. The acquisition aims to enhance STERIS's surgical portfolio by integrating Surgical Holdings' expertise in the manufacture and repair of surgical instruments. The integration of Surgical Holdings is aligned with STERIS's commitment to innovation and excellence in healthcare, aiming to meet the growing global demand for advanced surgical solutions. [Published On: 2020-06-20]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Surgical Equipment Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Surgical Equipment Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Abbott Laboratories, Adeor medical AG, Alcon Laboratories Inc., Aspen Surgical Products, Inc., Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, Braun Melsungen Ag, Cadence Inc., CONMED Corporation, De Soutter Medical Limited, GE HealthCare Technologies Inc., Integra LifeSciences Corporation, Johnson & Johnson Services, Inc., KARL STORZ SE & Co. KG, Koninklijke Philips N.V., Medicon eG, Medtronic Inc., Olympus Corporation, Siemans AG, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings Inc..

Market Segmentation & Coverage

This research report categorizes the Surgical Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Electrosurgical Devices
- Handheld Surgical Devices
  - Auxiliary Instruments
  - Cutter Instruments
  - Dilators
  - Forceps & Spatulas
  - Graspers
  - Retractors

Surgical Sutures & Staplers

Type
- Disposable
- Reusable

Application
- Cardiovascular
- Neurosurgery
- Obstetrics & Gynecology
- Orthopedic
- Plastic & Reconstructive Surgery
- Wound Closure

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4D00F1312F5E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising incidences of chronic diseases needing complex surgeries
  - 5.1.1.2. Expansion of the hospital and clinic infrastructure across the world
  - 5.1.1.3. Government policies promoting advancements in manufacturing surgical equipment
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of product recall of surgical equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Surging technological developments to improve the safety and performance of surgical equipment
  - 5.1.3.2. Favorable regulatory support for approval and use of surgical equipment
- 5.1.4. Challenges
  - 5.1.4.1. Need for frequent maintenance of surgical equipment
5.2. Market Segmentation Analysis
- 5.2.1. Product: Increased incorporation of electrosurgical devices due to the need for precision treatment
- 5.2.2. Application: Rising use of surgical equipment in neurosurgery owing to minimally invasive techniques
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Surgical Equipment Market, by Product

6.1. Introduction
6.2. Electrosurgical Devices
6.3. Handheld Surgical Devices
6.4. Surgical Sutures & Staplers

7. Surgical Equipment Market, by Type

7.1. Introduction
7.2. Disposable
7.3. Reusable

8. Surgical Equipment Market, by Application

8.1. Introduction
8.2. Cardiovascular
8.3. Neurosurgery
8.4. Obstetrics & Gynecology
8.5. Orthopedic
8.6. Plastic & Reconstructive Surgery
8.7. Wound Closure

9. Americas Surgical Equipment Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Surgical Equipment Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Surgical Equipment Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Stille's Strategic Acquisition of Fehling Instruments to Expand Global Footprint in Surgical Equipment
- 12.3.2. Microline Surgical Broadens Product Range with Acquisition of Retraction Limited's Surgical Instrumentation Assets
- 12.3.3. STERIS Expands Healthcare Product Range with Acquisition of Surgical Holdings
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio