Global Surgical Equipment Market - Trends and Outlook

Surgical equipment consists of essential medical devices used to carry out specific functions during surgeries, such as altering tissue or providing visual access. They come in a wide range, from general-purpose instruments like scalpels, forceps, scissors, retractors, and clamps to specialized tools customized for particular procedures, such as bone saws, files, drills, and mallets, which are often used in orthopedic surgeries. Typically, these instruments are made from carbon steel, stainless steel, aluminum, or titanium, and they come in various sizes and designs to meet diverse requirements.

Surgical instruments can be categorized into sutures and staples, handheld devices, electrosurgical tools, and more advanced machinery like surgical robotics, endoscopic instruments, and powered tools. The applications of surgery equipment span many fields, including obstetrics, orthopedics, cardiovascular care, neurosurgery, plastic and reconstructive surgery, and specializations such as ophthalmology, ENT, urology, and general surgery. The global Surgical Equipment market size is estimated at $19.8 billion in 2024 and is projected to post a CAGR of 8.6% during the forecast period 2024-2030 to reach $32.5 billion by 2030.

The surgical equipment market growth is driven by the increasing incidence of chronic diseases, such as cardiovascular diseases, cancer, and diabetes, which result in a higher need for surgical procedures. The growing number of geriatric populations, who are more vulnerable to various health issues, also drives the demand for surgeries. Innovations in technology, especially in minimally invasive surgery (MIS), serve as another catalyst for growth, as MIS provides advantages like quick recovery times and a decreased likelihood of complications.

Moreover, increased awareness regarding the benefits of prompt surgical intervention, escalating healthcare expenditures, and enhanced healthcare systems in developing regions are promoting the demand for sophisticated surgical instruments. The rise in sports-related injuries, automobile accidents, and cosmetic surgery procedures additionally fuels market expansion. In addition, favorable government policies, foreign investment in the healthcare sector, and increasing disposable incomes are broadening access to surgical care worldwide, resulting in a larger volume of surgeries and, therefore, a greater need for surgical equipment.

Surgical Equipment Regional Market Analysis

North America dominates the global surgical equipment market in 2024, holding a 38.2% share due to a significant incidence of chronic diseases, an aging demographic, advanced healthcare systems, and an increasing demand for minimally invasive procedures and robust healthcare expenditures. The United States is particularly notable for its well-established hospitals, prominent industry players, and innovative medical devices that contribute to market growth.

In contrast, the Asia Pacific region is expected to experience the fastest growth rate with a CAGR of 9.5% during the forecast period 2024-2030, propelled by rising disposable incomes in nations such as India, China, and Japan, as well as an upsurge in plastic, reconstructive, cardiovascular, and orthopedic surgeries. The rapid development of healthcare infrastructure, urbanization, and a rising elderly population further bolster the expansion of this regional market.

Surgical Equipment Market Analysis by Product

The surgical sutures and stapler is the largest segment of the surgical equipment market in 2024, with an estimated 42.3% market share, driven by their widespread application in wound closure. Sutures, which can be crafted from materials such as nylon or silk, and metal staplers, usually made of stainless steel or titanium, are chosen based on the nature of the surgery and patient requirements. Sutures may be absorbable, which breaks down naturally, or non-absorbable, necessitating removal to avoid infection. Metal staplers are gaining popularity for their benefits, which include expedited healing and reduced infection rates.

On the other hand, the electrosurgical devices segment is projected to record the fastest CAGR of 9.1% from 2024 to 2030, fueled by the increasing preference for minimally invasive surgeries that result in quicker recoveries and shorter hospital admissions. These devices find applications across various specialties, including gastroenterology, gynecology, and dermatology, which further contributes to the expansion of the market.

Surgical Equipment Market Analysis by Application

The surgical equipment market is categorized by application into obstetrics & gynecology, orthopedic, cardiovascular, neurosurgery, plastic & reconstructive surgery, and other applications. In 2024, the Obstetrics & Gynecology segment is estimated to account for 21.4% of the market share, propelled by a rising number of childbirths, increasing pregnancy-related complications, and a higher incidence of disorders affecting female reproductive organs. Moreover, this segment's dominance is supported by the demand for both elective and emergency cesarean sections.

Conversely, the Plastic & Reconstructive Surgery segment is projected to experience the fastest growth rate, with a CAGR of 9.9% during the analysis period 2024-2030, driven by the rising interest in cosmetic procedures, increasing disposable incomes, and advancements in surgical technology. Additionally, the growth of this segment is expected to be driven by aesthetic procedures like liposuction and breast augmentation, as well as reconstructive surgeries such as tumor removal and breast reconstruction.

Surgical Equipment Market Analysis by End-User

The surgical equipment market is segmented by end-users into hospitals, ambulatory surgical centers (ASCs), and other end-users. Hospitals dominate the surgical equipment market with an estimated 63.8% share in 2024, attributed to the high number of surgeries conducted, improvements in healthcare facilities, and the presence of skilled surgeons and innovative technologies.

Hospitals' ability to perform complex procedures and adopt the latest surgical advancements strengthens their leading position in the market. Meanwhile, ambulatory surgical centers (ASCs) represent the fastest-growing segment, anticipated to expand at a CAGR of 9.2% between 2024 and 2030 due to their cost-effectiveness, patient convenience, and a rising preference for outpatient surgical procedures.

Surgical Equipment Market Report Scope

This global report on Surgical Equipment analyzes the global and regional markets based on product, application, and end-users for the period 2021-2030 in terms of value in US$. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.

Key Metrics

Historical Period: 2021-2023
Base Year: 2024
Forecast Period: 2024-2030
Units: Value market in US$
Companies Mentioned: 14+

Surgical Equipment Market by Geographic Region

• North America (The United States, Canada, and Mexico)
• Europe (Germany, France, the United Kingdom, Italy, Spain, and Rest of Europe)
• Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific)
• South America (Brazil, Argentina, and Rest of South America)
• Rest of World

Surgical Equipment Market by Product

• Surgical Sutures & Staplers
• Handheld Surgical Devices
• Electrosurgical Devices
• Other Surgical Equipment (Including Powered Surgical Instruments, Endoscopic Equipment, Surgical Hernia Mesh, Surgical Glue and Sealants, and Others)

Surgical Equipment Market by Application

• Obstetrics & Gynecology
• Orthopedic
• Cardiovascular
• Neurosurgery
• Plastic & Reconstructive Surgery
• Other Applications (Including Ophthalmic Surgery, ENT Surgery, Urology, General Surgery, and Others)

Surgical Equipment Market by End-User

• Hospitals
• Ambulatory Surgery Centers (ASCs)
• Other End-Users (Including Specialty Surgery Centers, and Research and Academic Institutions)

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