Analysis of Surgical Equipment Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global surgical equipment market stands at US$ 16.7 billion in 2023 and is forecasted to expand at an impressive 8.6% CAGR over the next ten years to reach US$ 38.1 billion in revenue by 2033-end.
Surgical equipment demand is projected to be primarily driven by the rising incidence of diseases requiring surgical care and increasing preference for minimally invasive surgeries. Rising healthcare expenditure, growing focus on health and fitness, unmet surgical needs in underdeveloped economies, and increasing investments in R&D of novel surgical supplies are other factors that could potentially alter the market growth trajectory throughout the forecast period.
The expanding geriatric population on a global scale is projected to be a major influential aspect in determining future surgical equipment shipments around the world. An increasing number of ambulatory surgical centers, supportive government initiatives, and the rising prevalence of ailments such as cardiovascular disorders, thyroid issues, and other chronic diseases that require precise medical attention are also expected to favour surgical instrument sales in the future.
Operating tables, surgical beds, ENT microscopes, sterile gowns, sterilization equipment, surgical cautery machines, surgical staplers, and electrosurgical devices are estimated to be highly sought-after surgical products around the world through 2033. A rising focus on sustainability and waste management is expected to promulgate the demand for reusable surgical supplies in the long run.
However, the high incidence of hospital-acquired infections (HAIs) and increasing awareness regarding the same are expected to promote the adoption of disposable surgical instruments to prevent cross-contamination and infections.
A comprehensive analysis of trends such as product standards, local supply, global demand, safety regulations, environmental impact, and other aspects altering market evolution over the forecast period has been mentioned in this newly revised surgical equipment market research analysis by Fact.MR, a market research and competitive intelligence provider.
| Report Attributes | Details |
|---|---|
| Surgical Equipment Market Size (2023) | US$ 16.7 Billion |
| Projected Market Value (2033F) | US$ 38.1 Billion |
| Global Market Growth Rate (2023 to 2033) | 8.6% CAGR |
| North America Market Share (2022) | 35% |
| Germany Market Growth Rate (2023 to 2033) | 8% CAGR |
| Market Share of Surgical Sutures & Staples (2022) | ~40% |
| Key Companies Profiled | Stryker Corporation; CONMED Corporation; BD; Zimmer Biomet Holdings Inc.; Integra Lifescience Corporation; Healthium Ltd.; Meril Life Science Pvt. Ltd.; Medtronic plc; Alcon Laboratories Inc.; Ethicon Inc.; Olympus Corporation; Wells Plastics Ltd.; Aspen Surgical Products Inc. |
“High Demand for Powered Surgical Tools and Growing Aesthetic Awareness”
Rising popularity of minimally invasive procedures has led to a spur in demand for novel powered surgical devices and this is expected to provide bankable business scope for established as well as incoming surgical equipment manufacturers over the coming years. Growing awareness regarding the benefits associated with powered portable surgical devices among surgeons and medical professionals is also forecasted to open up new windows of opportunity in the future.
Meanwhile, aesthetic awareness among the general population is increasing owing to the growing influence of celebrities and social media influencers through various social platforms. An increasing number of people opting for plastic and cosmetic surgeries such as breast reconstruction, lip fillers, butt implants, etc., are also expected to bolster demand for novel surgical instruments going forward.
“Fasciotens, Dalent Medical, EDGe Surgical to Have Huge Impact on Market”
Incoming surgical equipment companies are focusing on changing the marketplace through the development and launch of innovative and advanced products that make surgical procedures safer and more reliable.
More new developments by start-ups and their impact on supply chain management and pricing trends have been discussed extensively in this newly revised Fact.MR research survey.
“Rising Senescent Population Driving Demand for Surgical Devices”
Nearly 1/3 of Japan’s total population is of 60 years of age or above 60 and this makes it a highly attractive market for all types of medical supplies and hospital equipment. Elder people are more at risk of needing surgery for cardiovascular and orthopedic health complications, which creates a highly bankable market scenario for surgical device vendors in Japan.
Moreover, supportive government initiatives to bolster healthcare infrastructure and rising investments in the medical industry are also projected to boost the surgical equipment market evolution over the coming years.
Rising per capita disposable income, growing popularity and availability of minimally invasive procedures, high rate of hospitalization, and soaring demand for reconstructive surgeries are other aspects that could bolster sales of surgical supplies in Japan going forward.
Growing incidence of dementia, Alzheimer’s disease, Parkinson’s disease, and other neurological disorders are also expected to boost sales of surgical staplers, electro-surgery units, and other modern surgical instruments in Japan through 2033.
“Germany & United Kingdom to Witness High Sales of Surgical Supplies”
Investments in healthcare infrastructure development have increased noticeably in the European region owing to the growing incidence of chronic disorders and the high frequency of infectious disease outbreaks.
Increasing willingness of patients to spend more on healthcare and the growing availability of minimally invasive and non-invasive surgical procedures are also projected to uplift the demand for surgical devices in countries such as Germany, France, and the United Kingdom. Surgical equipment shipments in Germany are forecasted to rise at 8% CAGR through 2033.
Rising number of people opting for cosmetic surgeries and plastic surgeries in European countries owing to growing aesthetic awareness is also projected to have a positive impact on market development in the future.
Surgical gowns, surgical suction machines, surgical retractors, and electrosurgical devices are anticipated to witness a hike in demand in almost all European countries over the coming years. Increasing pet ownership in Europe is also predicted to favor demand for veterinary surgical instruments in the long run.
“High Healthcare Expenditure and Favorable Reimbursement Scene Propelling Medical Equipment Demand”
The United States is known around the world for its well-developed healthcare infrastructure and favorable reimbursement policies that make it easier for its citizens to avail of all kinds of medical services and primarily bolster demand for surgical instruments.
The high prevalence of obesity, growing aging population, rising preference for minimally invasive surgeries, and a growing number of cosmetic surgeries are other aspects that could potentially promulgate shipments of surgery equipment in the country throughout the forecast period.
Rapid adoption of advanced medical devices and the growing availability of novel minimally invasive surgical instruments are also expected to open up new avenues of opportunity for surgical equipment suppliers in the United States. The high incidence of cardiovascular disorders is also anticipated to contribute to the growing demand for surgical instruments over the coming years. Surgical power tools are forecasted to witness superior demand in the country as compared to other surgical products.
“Surgical Equipment Demand to Soar High in Hospitals”
Based on end user, the market for surgical equipment is segmented into hospitals, ambulatory surgical centers, and clinics.
Hospitals account for a majority of surgical equipment sales at the moment and are expected to maintain this commanding stance throughout the forecast period. The increasing rate of hospitalization and growing surgical procedures volume daily are expected to be prime factors influencing growth in this segment.
Rising establishment of new hospitals around the world, increasing spending capacity of hospitals, and availability of state-of-the-art medical facilities are other prospects that could potentially bolster shipments of surgical supplies in hospitals over the next ten years.
Leading surgical equipment manufacturers are focusing on the development and launch of novel products that help them maximize their sales potential while gaining a competitive advantage over other players in the marketplace.
Prime surgical equipment suppliers are also opting for mergers and acquisitions to expand their market presence and increase market share on a global level.
How big is the surgical equipment market?
The global surgical equipment market stands at US$ 16.7 billion in 2023.
What is the projected market size of surgical equipment?
Sales of surgical equipment are extrapolated to reach US$ 38.1 billion by 2033-end.
What is the surgical equipment market growth?
Worldwide surgical equipment sales are estimated to increase at 8.6% CAGR over the next ten years.
What are the key trends mentioned in the surgical equipment market report?
Surging geriatric population and growing preference for robotic-assisted surgeries are prime factors driving market growth.
Which top companies hold a high share of the surgical equipment market?
Stryker Corporation, CONMED Corporation, BD, and Zimmer Biomet Holdings Inc. are leading manufacturers of surgical systems.
Surgical Equipment Market