PUBLISHER: The Business Research Company | PRODUCT CODE: 1546599
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546599
Surgical cutting tools are specialized instruments utilized by surgeons to perform precise incisions, dissections, and tissue excisions during medical procedures. These tools are engineered to be sharp, resilient, and easily sterilized, ensuring accuracy and safety across a wide range of surgical scenarios.
The primary types of surgical cutting tools include cobalt carbide, niobium carbide, and titanium carbide. Cobalt carbide surgical cutting tools are medical instruments crafted from cobalt carbide alloys recognized for their hardness, durability, and resistance to wear. They are specifically designed to facilitate precise and efficient tissue cutting and manipulation in surgeries spanning ophthalmology, gynecology, general surgery, bariatric surgery, plastic surgery, and other medical fields. These tools are predominantly utilized by hospitals, ambulatory surgical centers, and clinics.
The surgical cutting tools market research report is one of a series of new reports from The Business Research Company that provides surgical cutting tools market statistics, including surgical cutting tools industry global market size, regional shares, competitors with a surgical cutting tools market share, detailed surgical cutting tools market segments, market trends and opportunities, and any further data you may need to thrive in the surgical cutting tools industry. This surgical cutting tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surgical cutting tool market size has grown strongly in recent years. It will grow from $12.50 billion in 2023 to $13.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historic period can be attributed to several factors, including the rising prevalence of age-related conditions, an increased emphasis on patient safety and infection control measures, the expansion of medical tourism, heightened focus on training and skill development among surgeons, and growing awareness and adoption of evidence-based surgical practices.
The surgical cutting tool market size is expected to see strong growth in the next few years. It will grow to $17.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to several factors, including the rising emphasis on personalized surgical procedures, the increasing integration of augmented reality and virtual reality in surgical planning, the development of eco-friendly and recyclable surgical cutting tools, and a growing focus on reducing surgical complications. Key trends expected in this period include advancements in material science for surgical tools, enhancements in tool coatings and surface treatments, adoption of computer-aided design (CAD) and computer-aided manufacturing (CAM) technologies, the emergence of innovative surgical techniques, and greater investments in research and development within the healthcare sector.
The surgical cutting tool market is set to grow propelled by increasing demand for surgical procedures. This demand is driven by factors such as an aging population requiring more medical interventions, a rising incidence of chronic diseases, and improved access to healthcare services globally. Surgical cutting tools play a critical role in surgeries by enabling precise incisions, tissue dissection, and bone cutting, which are essential for effective surgical treatment with minimal tissue damage and improved patient outcomes. For example, according to the British Association of Aesthetic Plastic Surgeons, there was a significant increase in cosmetic surgery procedures in 2022, highlighting the growing demand, particularly among men.
Leading companies in the surgical cutting tool market are focusing on advanced medical solutions to enhance surgical precision, efficiency, and patient outcomes. One such innovation is the surgical stapler cutter, a device used to staple and cut tissue simultaneously, streamlining closure processes and reducing surgical time. For instance, Ethicon Inc., a US-based medical equipment manufacturer, introduced the ECHELON LINEAR Cutter in May 2024. This device incorporates 3D-stapling technology and gripping surface technology (GST) to enhance tissue stabilization and compression, minimizing slippage and ensuring uniform staple line integrity. These features are crucial for reducing complications such as anastomotic leaks in colorectal surgery, where mortality rates can be significant.
In August 2022, Sandvik AB, an engineering company based in Sweden, acquired Sphinx Tools Ltd. to expand its presence in the microtools market and enter the surgical cutting tools segment. Sphinx Tools Ltd., based in Switzerland, specializes in precision tool manufacturing, enhancing Sandvik's strategic position in round tools and expanding its product offerings in high-growth markets.
Major companies operating in the surgical cutting tool market are Medtronic plc, Stryker Corporation, Olympus Corporation, Terumo Corporation, Arthrex Inc, Kennametal, Lisi Medical SA, Integra LifeSciences Corporation, Meril Life Inc, Medacta International SAS, Avalign Technologies Inc, Aesculap Implant Systems Inc, KLS Martin Group, ARCH Global Holdings LLC, Intech Medical SAS, pfm medical ag, Biorad Medisys Pvt Ltd, Autocam Medical Inc, Trauson Medical Holdings Ltd, Precision Spine Inc, Paragon Medical Inc, Medicon de, Kebomed A/s, Astura Medical, Adler Ortho Spa, Nebula Surgical Pvt Ltd, MEDGAL Sp z o.o, Marle Group
Asia-Pacific was the largest region in the surgical cutting tools market in 2023. The regions covered in the surgical cutting tool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surgical cutting tool market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The surgical cutting tools market consists of sales of scalpels, scissors, lasers, electrosurgical devices, and ultrasonic cutters. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surgical Cutting Tool Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surgical cutting tool market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surgical cutting tool ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surgical cutting tool market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.