The surgical equipment market was valued at $35.6 billion in 2022 and is estimated to reach $59 billion by 2032, exhibiting a CAGR of 5.2% from 2023 to 2032. Surgical equipment refers to a broad category of medical devices and instruments used by healthcare professionals, particularly surgeons and operating room personnel, during surgical procedures. These instruments are specifically designed to assist in performing various surgical tasks with precision, safety, and efficiency. It includes a wide range of tools and devices, each serving a specific purpose in the operating room. They aid in the physical modification of biological tissue or help to provide access to the internal body while doing surgery.
The surgical equipment market has experienced significant growth owing to rise in prevalence of chronic diseases, surge in geriatric population suffering from chronic diseases, and advancements in biotechnology & ophthalmic research. In addition, the trend toward minimally invasive surgical techniques has boosted the demand for specialized surgical equipment designed for these procedures. Patients benefit from reduced pain, shorter hospital stays, and faster recovery times associated with minimally invasive surgery.
The factors that boost the market growth include an increase in preference for minimally invasive surgery and surge in geriatric population, which is highly susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health conditions. Minimally invasive surgery that uses technology to provide surgeons greater control, access, and accuracy during the surgical procedure.
Moreover, continuous innovation in surgical equipment, such as the technologies of more precise and minimally invasive devices, and advanced imaging technologies, enhances the capabilities of surgeons and improves the outcomes, which is expected to drive the market growth. However, inadequate quality assurance concerning performance, improper sterilization procedures for reusable equipment, and the absence of affirmative regulatory framework in developing economies limit the market growth.
The surgical equipment market is segmented into product, category, application, and region. By product, the market is segregated into surgical sutures & staplers, handheld surgical devices, electrosurgical devices, and other surgical equipment. The handheld surgical devices segment is further sub-divided into forceps & spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, ligating clips, and others (suction tubes, rasps, dissectors, needle holders, and other surgical clips). The other surgical equipment segment includes surgical hernia mesh, surgical glue, and powered surgical instruments.
By category, the market is classified into reusable surgical equipment and disposable surgical equipment. By application, the market is categorized into neurosurgery, plastic & regenerative surgery, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, laparoscopy, ophthalmic application, veterinary application, dental application, and others. Regin wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
Major key players that operate in the surgical equipment market are B. Braun SE, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Medtronic plc, Cousin Surgery, LLC, KLS Martin Group, Fuhrmann GmbH, Entrhal Medical GmbH, and Integra LifeSciences Holdings Corporation. Key players have adopted product launch and agreement as key developmental strategies to improve the product portfolio of the surgical equipment market.
The surgical equipment market has experienced significant growth owing to rise in prevalence of chronic diseases, surge in geriatric population suffering from chronic diseases, and advancements in biotechnology & ophthalmic research. In addition, the trend toward minimally invasive surgical techniques has boosted the demand for specialized surgical equipment designed for these procedures. Patients benefit from reduced pain, shorter hospital stays, and faster recovery times associated with minimally invasive surgery.
The factors that boost the market growth include an increase in preference for minimally invasive surgery and surge in geriatric population, which is highly susceptible to ocular disorders, gastric disorders, intestinal disorders, and other health conditions. Minimally invasive surgery that uses technology to provide surgeons greater control, access, and accuracy during the surgical procedure.
Moreover, continuous innovation in surgical equipment, such as the technologies of more precise and minimally invasive devices, and advanced imaging technologies, enhances the capabilities of surgeons and improves the outcomes, which is expected to drive the market growth. However, inadequate quality assurance concerning performance, improper sterilization procedures for reusable equipment, and the absence of affirmative regulatory framework in developing economies limit the market growth.
The surgical equipment market is segmented into product, category, application, and region. By product, the market is segregated into surgical sutures & staplers, handheld surgical devices, electrosurgical devices, and other surgical equipment. The handheld surgical devices segment is further sub-divided into forceps & spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, ligating clips, and others (suction tubes, rasps, dissectors, needle holders, and other surgical clips). The other surgical equipment segment includes surgical hernia mesh, surgical glue, and powered surgical instruments.
By category, the market is classified into reusable surgical equipment and disposable surgical equipment. By application, the market is categorized into neurosurgery, plastic & regenerative surgery, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, laparoscopy, ophthalmic application, veterinary application, dental application, and others. Regin wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
Major key players that operate in the surgical equipment market are B. Braun SE, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Medtronic plc, Cousin Surgery, LLC, KLS Martin Group, Fuhrmann GmbH, Entrhal Medical GmbH, and Integra LifeSciences Holdings Corporation. Key players have adopted product launch and agreement as key developmental strategies to improve the product portfolio of the surgical equipment market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surgical equipment market analysis from 2022 to 2032 to identify the prevailing surgical equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the surgical equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global surgical equipment market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product
- Surgical Sutures and Staplers
- Type
- Surgical Sutures
- Surgical Staplers
- Handheld Surgical Equipment
- Type
- Forceps and Spatulas
- Retractors
- Dilators
- Graspers
- Auxiliary Instruments
- Cutter Instruments
- Ligating clip
- Others
- Electrosurgical Devices
- Other Surgical Equipment
- Type
- Surgical Hernia Mesh
- Surgical Glue/Sealant and Hemostasis
- Powered Surgical Instruments
By Category
- Reusable Surgical Equipment
- Disposable Surgical Equipment
By Application
- Neurosurgery
- Plastic and Reconstructive Surgeries
- Wound Closure
- Urology
- Obstetrics and Gynecology
- Thoracic Surgery
- Microvascular
- Cardiovascular
- Orthopedic Surgery
- Laparoscopy
- Ophthalmic Application
- Veterinary Application
- Dental Application
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Johnson & Johnson
- Cousin Surgery, LLC
- Fuhrmann GmbH
- Entrhal Medical GmbH
- Integra LifeSciences Holdings Corporation
- Boston Scientific Corporation
- Medtronic plc
- KLS Martin Group
- B. Braun SE
- ConMed Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SURGICAL EQUIPMENT MARKET, BY PRODUCT
CHAPTER 5: SURGICAL EQUIPMENT MARKET, BY CATEGORY
CHAPTER 6: SURGICAL EQUIPMENT MARKET, BY APPLICATION
CHAPTER 7: SURGICAL EQUIPMENT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the surgical equipment market was valued at $35.6 billion in 2022, and is estimated to reach $59 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032. Surgical Equipment Market is likely to experience a significant growth rate of 5.2% from 2023-2032 owing to an increase in demand for surgical equipment from the medical devices and supplies sector.Surgical equipment refers to a broad category of medical devices and instruments designed and used by healthcare professionals during surgical procedures. The surgical equipment market has witnessed significant changes with evolving technology such as minimally invasive surgeries, and the introduction of power assisted surgical tools. These technologies exemplify the recent and unique advancements in the field of medical devices and strengthen the effectiveness of surgical procedures.
Key factors driving the growth of the surgical equipment market include the rise in number of surgical procedures, increase in demand for the minimally invasive procedures, surge in prevalence of chronic diseases such as cardiovascular disease, cancer, diabetes complications, and orthopedic issues. Chronic diseases often require surgical interventions for diagnosis, treatment, and management. Conditions like cardiovascular disease, cancer, diabetes complications, and orthopedic issues frequently necessitate surgical procedures. As the prevalence of these chronic diseases rises, it leads to a rise in demand for surgical equipment to perform the associated surgeries.
In addition, continuous innovations in surgical equipment, such as minimally invasive surgical devices, and advanced imaging technologies, have improved surgical outcomes, reduced recovery times, and increased the adoption of surgical procedures and propel the market growth. In addition, the rise in the demand for minimally invasive procedures has been a significant driver for the adoption of surgical equipment. Furthermore, the rise in the number of surgeries propels the demand for surgical equipment. For instance, according to the World Health Organization (WHO), an estimated 50 million people are injured every year due to road accidents. A surge in cases of road accidents would be a major factor influencing the market growth.
The market also offers growth opportunities to the key players in the market. Rise in technological advancements in surgical equipment. The rapid advancement in surgical equipment owing to the increase in emphasis on R&D activities within the medical technology sector has provided the opportunity for market growth. The surge in R&D efforts has played a pivotal role in driving innovation, refining existing technologies, thereby provide lucrative opportunities to market growth.
The surgical equipment market is segmented into product, category, application, and region. On the basis of product, the market is categorized into surgical sutures & staplers, handheld surgical devices, electrosurgical devices, and other surgical equipment. The handheld surgical devices segment is further sub-divided into forceps & spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, ligating clips, and others (suction tubes, rasps, dissectors, needle holders, and other surgical clips). The other surgical equipment segment includes surgical hernia mesh, surgical glue, and powered surgical instruments.
Depending on category, the market is classified into reusable surgical equipment and disposable surgical equipment. On the basis of application, the market is categorized into neurosurgery, plastic & regenerative surgery, wound closure, urology, obstetrics & gynecology, thoracic surgery, microvascular, cardiovascular, orthopedic surgery, laparoscopy, ophthalmic application, veterinary application, dental application, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include B. Braun SE, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Medtronic plc, Cousin Surgery, LLC, KLS Martin Group, Fuhrmann GmbH, Entrhal Medical GmbH, and Integra LifeSciences Holdings Corporation. The players in the market have been actively engaged in the adoption of various strategies such product launch and agreement to remain competitive and gain an advantage over the competitors in the market. For instance, in December 2022, Integra LifeSciences Holding Corporation announced that it has entered into a definitive agreement to acquire Surgical Innovation Associates (SIA), which develops, markets and sells DuraSorb, a resorbable synthetic matrix for plastic and reconstructive surgery. This acquisition is anticipated to advance Integra's global strategy in breast reconstruction, expanding plans to access the U.S. market with devices specifically approved by the FDA for use in implant-based breast reconstruction (IBBR) procedures.
Key Market Insights
By product, the handheld surgical equipment segment was the largest revenue contributor to the market and is estimated to reach $19.7 billion by 2032. However, the electrosurgical devices segment is anticipated to grow at the highest CAGR of 6.5% during the forecast period.By category, the disposable surgical equipment segment dominated the global market in 2022 and is expected to register the highest CAGR of 5.4% during the forecast period.
By application, the laparoscopy segment dominated the global market in 2022. However, the orthopedic surgery segment is anticipated to grow at the highest CAGR during the forecast period.
Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Johnson & Johnson
- Cousin Surgery, LLC
- Fuhrmann GmbH
- Entrhal Medical GmbH
- Integra LifeSciences Holdings Corporation
- Boston Scientific Corporation
- Medtronic plc
- KLS Martin Group
- B. Braun SE
- ConMed Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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