Reports And Data

Market Size – USD 11.75 Billion in 2018, Market Growth - CAGR of 7.9%, Market Trends – Product launches and research for advanced products

NEW YORK, NY, UNITED STATES, December 20, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Surgical Instruments market was valued at USD 11.75 Billion in 2018 and is expected to reach USD 21.52 Billion by year 2026, at a CAGR of 7.9%. The expected rise in the growth is subjected to various applications for which the surgery procedure is required.

These products are the key to successful surgery procedures in today’s world. The countries like China & India where the population is at par compared to other countries have large demand for the tools used in surgeries due to the fact that the cases with different issues for which the process is required are increasing day by day. The increasing prevalence of chronic diseases are the most common driver for this industry’s development. The procedures for heart diseases and the road accidents these are also another major drivers for the industrial growth of this industry. Moreover, the large number of child berths in the Asia-pacific region is another driving factor for this industry. The North America specifically the US is the most advanced country in the world in terms of advanced healthcare. The skilled professionals availability in the US is another major factor for driving this industry.

This industry has a huge potential for progress. But there are some factors which may hinder its development. The cost involved with the equipment’s is high which leads to high cost for surgery procedures, also the demand for alternatives to the surgery procedures is also increasing day by day in the industry which is another major hindrance factor to the development of this industry.

Even the most straightforward procedures involve dozens of critical steps, each with an opportunity for failure and the potential for injury to patients, from identifying the patient and the operative site correctly, to providing appropriate sterilization of equipment, to following the multiple steps involved in safe administration of anesthesia, to orchestrating the operation.

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Leading companies operating in the market and profiled in the report include:

Zimmer Biomet Holdings, Inc., Becton, Dickinson & Company, B. Braun Melsungen AG, Smith & Nephew Plc., Stryker Corporation, Aspen Surgical Products, Inc., Ethicon, Inc., Medtronic, Alcon Laboratories, and Boston Scientific Corporation among others.

Market Overview:

The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.

Competitive Landscape:

The report provides details about competitive landscape of global Surgical Instruments market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Surgical Instruments market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.

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Further key findings from the report suggest

• Surgical Instruments market is growing at a CAGR of 2% in Asia Pacific followed by North America and Europe, with 8.0% and 7.9% CAGR, respectively. High rate of surgeries due to different diseases across the globe is the key factor to accelerate the industrial development during forecast period across all regions

• As of 2018, Obstetrics & Gynecology is the dominating Surgical Instruments which holds 78% of the global industry. The Asian region is the chief revenue generating source for this product segment, followed by North America and Europe regions

• Reusable category is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 8.3%. However, associated side effects and costs are major challenge for the industrial growth of this market segment

• Handheld Devices (that includes Forceps & Spatulas, Retractors, Dilators, Graspers, Auxiliary Instruments, Cutter Instruments) was valued at USD 2.46 billion and is expected reach USD 4.36 billion by 2026

• Surgery has been an essential component of public health. As longevity increases worldwide, its role is increasing rapidly. Lack of access to basic care remains a major concern in low-income settings. The parallel requirement for measures to improve the safety and reliability of interventions, however, has gone largely unrecognized.

• An estimated 63 million people a year undergo surgical treatment for traumatic injuries, 31 million for malignancies and 10 million for obstetric complications. Problems associated with surgical safety are well recognized in developed and developing countries alike. In the developing countries, the poor state of infrastructure and equipment, unreliable supplies and quality of medications, shortcomings in organizational management and infection control, difficulties in the supply and training of personnel and severe under-financing contribute to the difficulties.

• North America is expected to account for the 33% of the global Surgical Instruments market. The availability of quality surgical professionals, the availability of advanced technology for surgical practices will help witness the growth.

• The growth in demand for alternatives to the surgery procedures such as sealants and the high cost associated with the latest tools are likely to hinder the industrial growth during the forecast period.

To know more about the report @ https://www.reportsanddata.com/report-detail/surgical-instruments-market

For the purpose of this report, Reports and Data has segmented the Surgical Instruments market on the basis of type, application, category, and region:

Type (Revenue, USD Billion; 2016–2026)

• Surgical Sutures & Staplers
• Handheld Surgical Devices
• Electrosurgical Devices

Application (Revenue, USD Billion; 2016–2026)

• Neurosurgery
• Obstetrics & Gynecology
• Plastic & Reconstructive Surgery
• Orthopedic
• Other Applications

Category (Revenue, USD Billion; 2016–2026)

• Reusable
• Disposable

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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