The new report by Expert Market Research titled, ‘General Surgical Devices Global Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global general surgical devices market, assessing the market based on its segments like products, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 14.5 billion
• Forecast CAGR (2023-2028): 8.7%
The global general surgical devices industry is being driven by increasing patient awareness and the frequency of cardiac-related ailments, gastrointestinal problems, and osteoporosis. The rising popularity of minimally invasive and computer-assisted robotic surgery is predicted to expand the market expansion. The market is projected to be driven by technical advancements and the introduction of sophisticated surgery in developing countries. The growing awareness of diseases transmitted by surgical tools, combined with government rules protecting surgical procedure safety, is expected to drive demand even higher in the coming years.
Industry Definition and Major Segments
Surgical instruments are tools or devices used to perform activities including cutting, dissecting, gripping, holding, retracting, or suturing. Stainless steel is used to make most surgical instruments. Titanium, chromium, vanadium, and molybdenum are among the other metals utilised for the aforementioned purposes.
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Based on products, the market can be divided into:
• Handheld Devices
• Laparoscopic Devices
• Electro Surgical Devices
• Wound Closure Devices
• Trocars and Access Devices
On the basis of applications, the industry can be segmented into:
• Gynaecology and Urology
The regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The rising prevalence of surgical procedures across the continents is likely to aid the market as the product can be extremely beneficial in surgical procedures. Furthermore, the technological advancements are contributing to increase the demand of the market. As a result, many organizations are investing in RD for the improvement of higher surgical products.
For example, the development of clinical robots to aid surgeons is a significant breakthrough in the field. Furthermore, Medical robots provide several advantages such as a 3D view of the operating field, minimal loss of blood and transfusions, less threat of infection, quicker recovery time, less scarring, and high precision features which significantly contribute to the market growth.
Key Market Players
The major players in the market, B. Braun Melsungen AG,Boston Scientific Corporation (NYSE: BSX), Cadence Inc., Integer Holdings Corporation, JohnsonJohnson, Medtronic, Olympus Corporation, Stryker Corporation and others .The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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