Surgical instruments hold an imperative status in the medical sector. Surgical equipments are extremely essential for medicinal, surgical and various other clinical activities. Manufacturers of Surgical Equipment Market are making efforts to improve existing equipment as well as develop new ones. This has allowed medical professionals to undertake even the more complex surgical procedures with greater confidence. There is a spectrum of usage of surgical instruments in medical care write from viewing to modifying and even breaking down various types of tissues and organic parts. Market Research Future (MRFR) in its report projects that the global market for surgical equipment will expand at a steady pace over the next couple of years. Surgical equiments find a wide range of application in diverse surgical procedures, hence their demand remains extremely high across the globe.
Increased surgical procedures of various types including plastic and reconstructive surgeries, urology, thoracic surgery, cardiovascular, laparoscopy, neurosurgery, wound closure, obstetrics and gynaecology, micro-vascular and orthopaedic surgery is driving the global demand for surgical equipment. In addition, advancement in technology, favourable policies and the growing number of ambulatory services is also expected to support the growth of the market in the years to come. Rising preference for minimally invasive surgeries has led a rapid adoption of electrosurgical instruments, which cause minimal surgical trauma to the patient. Nonetheless, many of the advanced surgical equipments are highly expensive, which limits their adoption to a small consumer base.
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Latest Industry Highlights:
- Surgical Innovation, a Leeds-based surgical equipment manufacturer is reportedly plotting further acquisitions. The company came into limelight recently after it announced the acquisition of Elemental Healthcare.
- Tyber Medical, LLC, privately held company is reportedly investing of manufacturing innovative medical devices for private label opportunities. The company also holds special interest in developing bioengineered surfaces. Tyber Medical, LLC recently unveiled a limited edition Forefoot Procedure Kit.
Global Market for Surgical Equipment – Segmental Analysis
The market for surgical equipment can be segment into application (plastic reconstructive surgery, cardiovascular, neurosurgery, obstetrics gynecology, and orthopedic), product (handheld electrosurgical and devices sutures staplers) and region (Europe, Americas, Middle East Africa, and Asia Pacific
North America is expected to remain the most attractive market for surgical equipment in 2018 and beyond. Easy availability of next-gen surgical equipment and presence of leading manufacturers has propelled the region’s market at a predominant position. Further, manufacturers, particularly in the US are concentrating of product innovation and improving product functionality. Each years, a large number of Americans undergo surgery, which in turn, contributes to the demand for surgical equipment in the country. Europe currently holds the second position in the global surgical equipment market and is expected to present lucrative growth opportunities for market players in the coming years. Increased surgical procedures in various European countries is fuelling the demand for surgical equipment. Countries such as Germany, France and the U.K. are witnessing greater spending on surgical procedures. Meanwhile, the market in Asia Pacific is also growing at a healthy pace. This is primarily due to factors such as the improving healthcare infrastructure and government initiatives to educate people in rural areas about the availability of advanced surgeries procedures.
Global Market for Surgical Equipment – Competitive Dashboard
Top player operating in the global market for surgical equipment include Stryker Corporation (U.S.), Conmed Corporation (U.S.), Smith Nephew Plc (U.K), Boston Scientific Corporation (U.S.), KLS Martin Group (U.S.), Olympus Corporation (Japan), Teleflex Incorporated (U.S.), Medtronic Plc. (U.S.), Johnsons Johnsons (U.S.), Alcon Laboratories Inc. (U.S.), Zimmer Holdings Inc. (U.S.), B. Braun Melsungen AG (Germany), Karl Storz GmbH Co. Kg (Germany), Abbott Laboratories (U.S.) and Cook Medical (U.S.).
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