Surgical Devices Market Size, Growth, Trends, Share and Analysis

Surgical Devices Market

Market Overview:

Over the forecast period, 2019-2024, the general surgical devices market is expected to record a CAGR of nearly 6.5%.

Healthcare is experiencing rapid change in developing nations. Growing population is likely to result in enhanced demand for medical devices in these nations. The increasing burden of disease and innovative medical treatments accounts for almost two-thirds of the increase in expenditure. Healthcare expenditure is anticipated to rise during the forecast period in nations such as China and India. It is estimated that one-third of all global health spending will be incurred by emerging economies by 2022, according to a World Economic Forum study. Some healthcare industry investments give appealing long-term economic advantages. Medical care is one of those areas where people tend to boost expenditure as income increases. In BRICS Brazil, Russia, India, China, and South Africa , the healthcare industry in the emerging markets has grown quickly. The healthcare market in BRICS countries capitalized at over USD 850 billion in 2014, at a compound level of 9.1%, which is considerably higher than those nations overall GDP growth rate. Such factors possibly drive the worldwide demand for the implementation of general surgical instruments.

Report Portfolio:

During surgery, surgical instruments serve a particular purpose. Surgical instruments are typically used in a generic manner, while certain particular instruments are intended for particular processes or surgeries. The report s scope includes multiple market elements of surgical instruments related to products, applications and geography.

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Key Market Trends: –

Handheld Device is expected to dominate the handheld surgical equipment of the General Surgical Devices Market:

Developing sophisticated equipment, such as robotic handheld surgical instruments for laparoscopic procedures, enhances the dexterity of a surgeon. Because of the need for high reliability, precision, and patient security, many inventions have been produced. One such innovation is the new cordless handheld devices that added a level of convenience and control for surgeons. Another handheld medical device used to bind blood vessels during laparoscopic surgery is the Lapro-ClipTM clip applier from Covidien. The biggest share of the surgical device market was the handheld surgical instruments segment.

Needle holders, with jaws and handles, are very comparable in form to hemostats. Needle holders enable the needle to be locked in a multitude of tissue kinds in location for suturing. Jaws, joint, and needles are the parts of a needle holder. Doctors and physicians generally prefer it, worldwide. The needle holder selection relies on the surgical needle type.

Surgical operations require surgeons to participate commonly, including suturing, in hand-intensive activities. The needle holder market is growing, due to the rise in minimally invasive surgical procedures and an increase in outpatient surgeries. It is further anticipated that the market will develop and that prices will drop owing to the entry of many fresh players into the market.

North America is dominant in the market and is expected to remain the same:

Over the forecast period, North America is anticipated to dominate the general market. The United States maintains the biggest market share in the North American region, and this is due to better surgical device laws and increasing population awareness of approaching such operations in the event of accidents and chronic disease issues. The companies have also well-established direct channel cooperation to serve the studied market with hospitals and clinics.

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Competitive Landscape Report:

Because of the presence of many large, medium and small players, the general market for surgical devices is exceptionally fragmented and focused. Some of the market’s major players are B. Braun Melsungen AG, Boston Scientific Corporation, Cadence Inc., Conmed Corporation, Johnson & Johnson.

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