General surgery devices are used for a wide variety of diseases. These devices are employed for routine procedures or in complicated surgeries. Over the time, several innovative devices have been invented for serving a particular purpose with more ease while performing surgeries and for reducing discomfort after the surgery. General surgery devices are used in gastrointestinal problems, trauma and burn care, hernias, and breast cancer. These devices are employed in several sub-specialties of general surgery such as orthopedics, obstetrics, neurology, urology, cardiovascular, and gynecology. The key purpose of general surgery devices is to cut, clamp, grasp, tie, and spread anatomical parts of the human body during surgical procedures. These devices are deployed primarily in hospitals, small clinics, and health care centers.
The increasing number of geriatric patients worldwide, awareness among patients about different surgeries and minimally invasive procedures, technological developments in surgical procedures such as robotic and power-assisted systems are factors likely to fuel the general surgery devices market in the next few years. One of the technological developments is that the market is witnessing preference to minimally invasive procedures and use of robotics and computer-assisted devices, thereby reducing time required for surgery as well as complications. This has opened new avenues for growth of the global general surgery devices market. Market players are competing with one another with new product launches, expanding geographic presence, and innovative and educational offerings. However, the market is also facing challenges such as development of other non-invasive surgery technologies and intense competition among existing manufacturers of general surgery devices. Moreover, factors such as product recalls, government regulations regarding reduction in overall health care costs, and subsequent increase in bulk purchasing through INHs (Integrated Health Networks) and GPOs (group purchasing organizations) are restraining the market.
The general surgery market have been segmented by product, application, and geography. In terms of product, it can be segmented into disposable surgical supplies, reusable, minimally invasive surgery instruments, energy-based and power devices, adhesion prevention products, and medical robotics and computer-assisted surgery devices. Among them, the disposable surgical supplies segment leads the market, due to rising demand for disposable needles, syringes, and catheters.
Geographically, the general surgery devices market can be classified into North America (U.S. and Canada), Europe (Germany, France, the U.K., etc.), Asia Pacific (Australia, China, Japan, and India), Latin America, and Middle East & Africa. The emerging markets in Asia Pacific, Latin America, and Middle East & Africa are expected to witness robust growth during the forecast period. North America leads the global market, holding the maximum share. This can be attributed to strong policy support of governments, favorable reimbursement policies, and the increase in demand for surgeries led by lifestyle-related diseases in the region. However, in terms of growth rate, Asia Pacific is likely to surpass all other regions in the next few years, due to the increasing expenditure on health care in developing countries of the region. Some of the prominent markets in Asia Pacific are India, Japan, China, Australia, and Singapore.
Some of the key players operating in the global market for general surgery devices are B. Braun Melsungen AG, Boston Scientific Corporation, Smith & Nephew, Covidien Plc (Medtronic), Integra LifeSciences, Conmed Corporation, 3M Healthcare, CareFusion Corporation Ethicon, Inc. (Johnson & Johnson), Integra LifeSciences, Erbe Elektromedizin GmbH, TransEnterix, Inc., and Integer Holdings Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.