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Global Surgical Equipment Market to be Valued at US$11.2 bn by 2019, Driven by High Demand for Absorbable Sutures

Posted on Nov 09, 2015

The featured report, titled “Surgical Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, from Transparency Market Research (TMR) offers the latest insights into the market. According to the report, the global surgical equipment market will expand at a CAGR of 4.20% during the forecast period from 2013 to 2019. In 2012, the global surgical equipment market was estimated at around US$8.4 bn and by 2019, the market is expected to be worth more than US$11.2 bn.

Browse the full Surgical Equipment Market (Surgical Sutures and Staples, Surgical Handheld Instruments, and Electrosurgical Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 Report @ https://www.transparencymarketresearch.com/surgical-equipment-market.html

The global surgical equipment market is driven by the year-on-year growth in the number of surgical procedures around the world and the rapidly expanding elderly population. The global surgical equipment market will also benefit from the elevated demand for minimally invasive procedures. The market will get a boost from the rising technical advances driving innovation of products that offer better outcomes.

Nevertheless, the global surgical equipment market will be restrained by the accelerating demand for advanced wound closure materials such as fibrin, glues, hemostats, and high-strength medical adhesives. Furthermore, the price competition in the industry, side effects associated with various types of surgical equipment, and implementation of the Patient Protection and Affordable Care Act (PPACA) in the U.S. market will also suppress the global surgical equipment market.

By product type, the global surgical equipment market is divided into electrosurgical devices, surgical handheld instruments (scissors, retractors, forceps, and scalpels), and surgical sutures and staples. In 2012, the surgical sutures segment held a greater share than the staples segment. The two main types of sutures available in the global surgical equipment market are absorbable and non-absorbable sutures. Presently, absorbable sutures are in demand due to their growing utilization across the majority of surgical procedures, except those that require permanent sutures or long-term care.

 

Electrosurgical devices such as radiofrequency generators are used during various surgical procedures to coagulate, cut, cauterize, and ligate tissues by using high-frequency electric current. This sector is projected to witness the highest growth in the global surgical equipment market during the forecast period.

On the basis of geography, the global surgical equipment market is classified into Asia Pacific, Europe, North America, and Rest of the World (RoW). The regional markets of Asia Pacific and Rest of the World are projected to demonstrate a high growth rate in the coming few years in the global surgical equipment market. These regional markets benefit from factors such as high unmet surgical needs, developing economic conditions, and improving reimbursement scenario.

 

In the APAC region, several multinational players are operating and are projected to face intense competition from local makers of surgical equipment. Local manufacturers in the APAC surgical equipment market offer several different types of surgical equipment such as sutures and handheld instruments at very low prices. Furthermore, the evolving medical tourism industry in Thailand, India, South Korea, Singapore, and Malaysia will also offer a good growth opportunity for the APAC region in the global surgical equipment market.

Players in the global surgical equipment market will benefit from the market opportunity presented by emerging economies in Eastern Europe, Asia Pacific, and Latin America. Some of the key players operating in the global surgical equipment market are Stryker Corporation, Medicon eG, Ethicon, Inc., CONMED Corporation, CareFusion Corporation, and Aspen Surgical Products.

The global surgical equipment market is segmented as follows:

Surgical Equipment Market, by Product Type

  • Surgical Sutures and Staples
    • Surgical Sutures
    • Surgical Staples
  • Surgical Handheld Instruments
    • Scalpels
    • Forceps
    • Retractors
    • Scissors
  • Electrosurgical Devices

Surgical Equipment Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

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