Surgical Kits Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The surgical kits market is expected to register a CAGR of 8.3% over the forecast period. The abrupt start of the pandemic forced many surgeries to be postponed, which temporarily had a detrimental effect on the market due to COVID-19. As per the report published by JAMA Network in December 2021, in the United States, the overall rate of surgical procedures fell by 48.0% during the first shutdown of elective surgeries. This decline in surgical procedures led to decreased demand for surgical kits as well. Thus, the decline in surgical procedures during the COVID-19 pandemic is anticipated to have a detrimental effect on the market's expansion. However, during the post-pandemic period, the postponed surgeries resumed, which is expected to boost the market's growth in the coming future.

Key Highlights

• The surgical kits market is expected to witness robust growth due to the rising number of surgical procedures worldwide and the increasing demand for minimally invasive surgeries across the world.
• According to the updated report published by CDC in 2022, 18.2 million adults in the United States had coronary artery disease, and about 70% of these patients underwent surgery. Hence, the procedures performed have increased hospital admissions, which significantly helps in the growth of the market. Similarly, as per the OECD statistics for 2022, the number of hip replacement procedures in Denmark in 2021 was 13,815, and cesarean section procedures were approximately 12,465.
• Furthermore, according to a CDC report published in August 2021, every year, approximately 800,000 patients are admitted to hospitals with fall-related injuries, the most common of which is a hip fracture. Hence, surgical methods are to be followed to fix the above-stated health concerns. This leads to an increase in hospital admissions for surgeries and drives the growth of the surgical kits market.
• However, the high cost of surgical procedures and unfavorable regulatory scenarios are expected to hamper the growth of the surgical kits market.

Surgical Kits Market Trends

Disposable Surgical Equipment Expected to Witness Growth Over the Forecast Period

• Disposable surgical equipment is one of the commonly used supplies in medical establishments. This surgical equipment is intended for one-time or temporary use. Healthcare professionals are switching from reusable instruments to disposables to avoid the hazards of improper cleaning and reprocessing of surgical kits, which pose a threat to patients.
• For instance, as per the report published by GWS Surgicals LLP in December 2021, it is clear from analyzing all the variables that, in terms of patient protection, disposable medical equipment outperform reusable ones in every way. Thus disposable surgical kits play a key role in surgical procedures due to the lower risk of hospital-acquired infections through the surgical instruments.
• Moreover, disposable kits are cost-effective compared to reusable ones, which are beneficial for healthcare professionals and patients. For instance, as per the above-mentioned source, single-use (disposable) surgical equipment is more cost-effective in the long term. Hence, hospitals around the world are adopting disposable surgical instruments. Thus, disposable surgical equipment is expected to drive the market over the forecast period due to its advantages and cost-effectiveness over reusable surgical equipment.

North America Expected to Dominate the Market Over the Forecast Period

• The United States emerged as the key domestic market for surgical kits in North America on account of the continuous technological developments and the rising uptake of minimally invasive surgeries. The growth in North America was primarily driven by the adoption of new technologies, the growing aging population, favorable regulatory framework, and high per capita income.
• One of the major growth-driven factors is the rising number of surgical procedures. According to AAFPRS members, in 2021, the total number of surgical and non-surgical facial plastic surgery treatments increased dramatically. An estimated 1.4 million surgical and non-surgical procedures were done in 2021, with plastic surgeons performing an average of 600 more procedures than they did in 2020, a 40% increase. Thus the rise in surgical procedures increases the demand for surgical kits in the region, which drives the market over the study period.
• Moreover, the new advancements and developments in the field of surgery will help the market to grow over the forecast period. For instance, in August 2022, Point Robotics, a rising leader in the field of minimally invasive orthopedic surgical robots, received 510(k) clearance from the FDA in the United States for its minimally invasive surgical robot POINT Kinguide Robotic-Assisted Surgical System. Point Robotics is a hand-held robot framework equipped with a parallel manipulator for orthopedic applications.
• Hence, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

Surgical Kits Market Competitor Analysis

The market for surgical kits is highly competitive, with an active presence of local players. However, a few major players are providing products across all regions worldwide. Due to the low prices of surgical kits, some new companies are also penetrating the market and are expected to hold a substantial share in the future. The major players include B. Braun SE, Boston Scientific Corporation, Cardinal Health, Johnson & Johnson Services, Inc, KCWW, Medtronic, Novartis AG (Alcon Laboratories Inc.), Stryker, Smith & Nephew, and Zimmer Biomet.

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