Single-handed Surgical Suturing Devices in Surgical Equipment Market Advance Capabilities of Healthcare Facilities, Market to Reach Valuation of US$ 14.8 Bn by 2030-End

ALBANY, N.Y, Sept. 8, 2020 /PRNewswire/ -- Relentless focus of manufacturers of surgical equipment on increasing surgical outcomes drive the pace of innovation in the surgical equipment market. In this regard, single-handed surgical suturing devices and robotics for open surgeries as well as minimally invasive procedures are the two foremost areas for research and development activities, opine analysts at TMR. This has led numerous medtech companies to collaborate on unveiling custom instruments.

Two broad categories are endo mechanical and electrosurgical devices.

In the face of coronavirus (COVID-19) outbreak, their sterilization techniques have become more important than ever.

The global surgical equipment market is expected to clock CAGR of ~4% from 2020 to 2030. In 2019, the global valuation was pegged at US$ 9.7 Bn, and is projected to reach worth of US$ 14.8 Bn by 2030-end.

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Key Findings of Surgical Equipment Market Report

• Surgical sutures and staples held the major share in 2019 of all the product types
• General surgery was the leading application segment in 2019
• Among all end users, hospitals have been contributing sizable revenues to global market
• Regionally, North America held the major share in 2019
• The North America market is trailed by Europe market
• Competitive landscape is fairly fragmented

Explore 188 pages of top-notch research, incisive insights, and detailed country-level projections on Surgical Equipment Market (Product: Surgical Sutures & Staples, Surgical Handheld Instruments, and Electrosurgical Devices; Application: Ophthalmology, Gynecology, General Surgery, Bariatric Surgery, Plastic Surgery, and Others; and End User: Hospitals, Ambulatory Surgical Centers, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/183

Surgical Equipment Market: Key Driving Factors and Promising Avenues

• Focus of medtech companies on improving outcomes in open surgeries has nudged them to spur investments in robotics, thereby opening new avenues in the surgical equipment market.
• The shift from on-size-fits-all surgical equipment toward custom devices is a key trend in the surgical equipment market.
• Rise in demand for high-precision devices for minimally invasive surgeries is a key trend underpinning innovative initiatives.
• The aforementioned trends have also kicked in collaborations among medical device manufacturers. Most prominent efforts have come in the direction of improving retractors. Conventional retractors pose considerable challenge for surgeons, which underlines an unmet need in the surgical equipment market.
• The use of high-grade steel cutting tools in ergonomically-designed sound cutting tools will pave way to the design of high-end surgical equipment.
• The focus on reducing healthcare costs by healthcare providers has also fuelled the prospects in the surgical equipment market.
• The demand for general surgeries related to small intestine, large intestine, stomach, liver, pancreas, appendix, bile ducts, and thyroid gland has spurred the expansion of surgical equipment market. 

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Surgical Equipment Market: Key Impediments to Growth and Competitive Landscape

• Preference for low-cost endosurgery instruments in rural healthcare facilities has constrained the scope of new surgical equipment, thereby restraining the market growth.
• Presence of several players of regional and global presence has rendered the global surgical equipment market increasingly fragmented.
• Demand for operation theaters in hospitals in the developing world offers substantial revenue streams for players.
• Some of the key participants in the market are Healthium Ltd., Ethicon, Inc., Meril Life Science Pvt. Ltd., CONMED Corporation, Stryker, and Olympus Corporation.

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The Competitive Landscape can be segmented as follows:

• Surgical Equipment Market, by Product
• Surgical Sutures & Staples
• Handheld Instrument
• Grasping Instruments
• Retractors and Dilators
• Cutting Instruments
• Others
• Electrosurgical Devices
• Generators
• Consumables
• Surgical Equipment Market, by Application
• Ophthalmology
• Gynecology          
• General Surgery
• Bariatric Surgery
• Plastic Surgery
• Others
• Surgical Equipment Market, by End User
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Surgical Equipment Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Surgical Face Masks Market: The surgical face masks market is projected to grow at a striking CAGR of ~11% during the assessment period. This indicates a continuous demand for disposable and reusable masks in hospital settings and diagnostic lab environments. Hence, innovators in the surgical face masks market are introducing high-speed converting lines to accelerate the production of masks.

Surgical Sutures Market: The global surgical sutures market is expected to be driven by increased effectiveness and safety of various surgeries owing to technological advancements. Various strategic decisions by market players such as partnerships and acquisitions for expanded network for distribution and product development are likely to boost the market.

Electrosurgical Devices Market: The global electrosurgical devices market is rising due to increased demand for effective medical procedures. Increased development in healthcare infrastructure is also leading to the rise in demand for the market. Soaring technological advancements in various parts of the world is fuelling the market growth significantly.

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