General Surgical Devices Market was worth $7.53 billion in 2016 and estimated to reach $12.24 billion by the end of 2021 with a CAGR of 10.20%. Surgical device is a designed tool for performing specific actions of carrying out a particular task during a surgery or operation, like provide access for viewing it.
They are used for a number of functions during surgical procedures, basically wound closure, plastic and reconstructive surgeries. They are used in the areas of neurology, urology, orthopedics, cardiovascular medicine, obstetrics, gynecology, etc. These tools are mainly used in small clinics, hospitals, and other places.
The rapid growth in general surgical devices market is primarily driven by the factors such as rising demand due to rising number of surgical procedures with rising prevalence & incidence of various chronic diseases accompanied by increasing ageing population. Moreover, increasing healthcare expenditure, increasing demand for technologically advanced minimal invasive surgical procedures and rising demand for plastic and reconstructive surgery are further expected to boost to the market growth during the forecast period. However, price competition in the industry is one of the factors holding back the growth. Stringent government regulations and lack of proper reimbursement for surgical equipment may also hamper the market growth during the forecast period.
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The General Surgical Devices Market is segmented based on type as Callipers, Forceps, Suction Tubes, Scissors, Probes, Handles, Needle Holder, Speculums, Clamps, Distractors, Retractors, Tendon Strippers, Clips, Sutures, Catheters, Approximators and others. By technology, it has been segmented into Electrosurgical Equipment, Wireless Surgical Equipment, and Manual Surgical Equipment. Further, based on the end-users, they have been segmented into clinics, hospitals and others. On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Electrosurgical devices segments is expected to register the fastest growth during the forecast period owing to the rising demand for these devices among growing number of minimal invasive surgical procedures. The growth in North America and Europe was driven by advent of new technologies, favorable regulatory framework, growing ageing population, and high disposable income of consumer population. However, Asia-pacific is expected to experience significant growth due to advancing medical tourism industry, increasing willingness to undergo surgical procedures, increase in prevalence of chronic diseases that require surgical procedures and improving healthcare infrastructure.
The key players in this market include Medtronic Plc., Stryker Corporation, Johnsons And Johnsons, Conmed Corporation, Alcon Laboratories Inc., Smith & Nephew PLC, Zimmer Holdings Inc., Boston Scientific Corporation, B. Braun Melsungen AG, KLS Martin Group, Olympus Corporation, Applied Medical Resources Corporation, Microline Surgicals, Inc., Karl Storz GmbH & Co. Kg, Cook Medical Incorporated, and Teleflex Incorporated.
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.