The market for surgical equipment has been broadly segmented into surgical sutures and staples, surgical handheld instruments and electrosurgical devices. In 2012, this segment accounted for 55.6% of the total surgical equipment market. Of these, surgical sutures held the larger share than staples in 2012. The two major types of sutures are absorbable and non-absorbable sutures depending on the body’s ability to degrade and absorb the suture materials over time. Absorbable sutures are in greater demand over non-absorbable sutures owing to their increasing adoption across most surgical procedures except those which require permanent sutures or long-term care. The surgical handheld instruments market includes scalpels, forceps, retractors and scissors. Electrosurgical devices include radiofrequency generators, instruments and other accessories, which are used during various surgical procedures to cut, cauterize, coagulate and ligate tissues and luminal structures by utilizing high frequency electric current. This segment has been anticipated as the fastest growing segment during the forecast period 2013 to 2019.
Owing to advantages such as precise incision, minimal blood loss, reduced post-surgery complications and side effects, faster recovery span and shorter duration of hospital stay; minimally invasive procedures are experiencing greater demand across all medical specialties. Burgeoning demand for minimally invasive procedures is likely to trigger market growth for electrosurgical devices. Some other factors expected to drive market growth include continuous increase in the number of surgical procedures, rapidly increasing elderly population and technological advances in the area of product development. The market for surgical sutures and staples faces significant threat from advanced wound closure materials such as glues, fibrin, high-strength medical adhesives and other sealants, as these products are actively adopted by surgeons and healthcare providers owing to associated benefits such as less healing time, reduced blood loss and improved clinical outcomes. One of the clauses of the U.S. Patient Protection and Affordable Care Act (PPACA) that reveals an excise tax of 2.3% on medical devices may serve the overall market as a restraint as it will impose an extra burden on medical device manufacturers.
Geographically, the market for surgical equipment has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific and RoW markets are expected to show high growth rate during the forecast period 2013 to 2019 owing to factors such as emerging economies, high unmet surgical needs and continuously improving reimbursement scenario. In the Asia-Pacific region, multinational players operating in this market are expected to face intense competition from local manufacturers as they offer various types of surgical equipment especially sutures and surgical handheld instruments, at very low prices. Rapidly evolving medical tourism industry in countries such as India, Singapore, Malaysia, Thailand and South Korea also propels major healthcare providers to equip themselves with latest surgical devices; acts as a significant growth driver for the surgical equipment market.
Each segment of the surgical equipment market is dominated by a select number of players. For instance the market for surgical sutures and staples market is dominated by mainly Ethicon, Inc., B. Braun Melsungen AG and Covidien plc. These players have stronghold on group purchasing organizations (GPOs) in the U.S. market where healthcare providers collectively purchase surgical instruments at low prices. The market for surgical handheld instruments is largely fragmented and is distributed between multinationals and local manufacturers. Globally, B. Braun Melsungen AG, Integra LifeSciences Holdings Corporation, Covidien plc and Aspen Surgical Products, Inc. are the major players operating in the surgical handheld instruments market. The electrosurgical devices market is dominated by players such as Covidien plc, ERBE Elektromedizin GmbH and CONMED Corporation with a combined market share of around 60% in 2012.
Surgical equipment are used for a number of functions during surgical procedures such as making incisions, holding organs and tissues back, grasping certain tissue or skin, providing access to site of operation, coagulation of blood vessels and closing the wound by stitching or stapling. The most commonly used surgical equipment include sutures and staples, surgical handheld instruments (scalpels, forceps, retractors and scissors) and electrosurgical devices. The report on global surgical equipment market studies the current scenario as well as the future market potential for different surgical equipment that are used extensively in various surgical procedures. In this report, the market for surgical equipment has been segmented into three major product types, namely:
- Surgical Sutures and Staples
- Surgical Handheld Instruments
- Electrosurgical Devices
The market for surgical equipment has been extensively analyzed on the basis of various factors such as their application in various surgical procedures, worldwide availability, major manufacturers and technological developments. The surgical sutures and staples market has been further segmented into surgical sutures and surgical staples, while the market for surgical handheld instruments has been segmented into scalpels, forceps, retractors and scissors. The market size and forecasts in terms of revenue (USD million) for each of these segments have been provided for the period 2010 to 2019, considering 2010 and 2011 as historical data and 2012 as the base year. This report on surgical equipment market also provides the compounded annual growth rate (CAGR %) for each segment of the market for the forecast period 2013 to 2019.
Geographically, the market for surgical equipment has been segmented into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). Along with the overall surgical equipment market, the report also studies the market size and forecast for each major segment with respect to all four regions (North America, Europe, Asia-Pacific and Rest of the World), for the period 2010 to 2019 along with the CAGR (%) for the forecast period 2013 to 2019. The study also includes qualitative analysis of the competitive scenario in these regions (North America, Europe, Asia-Pacific and Rest of the World). The market overview section of the report on surgical equipment market comprises qualitative analysis of the overall market considering the factors determining the market dynamics such as drivers, restraints and opportunities. The market overview section of the report on surgical equipment market also provides detailed analysis on the Porter’s five force analysis and market attractiveness.
The report also provides a section on the competitive landscape of the global surgical equipment market, wherein the market share analysis of leading players, in terms of percentage share in 2012, has been discussed. In the report on surgical equipment market, competitive landscape for each product categories (surgical sutures and staples, surgical handheld instruments and electrosurgical devices) has also been given in the product segment chapter. A list of recommendations has also been included for new entrants as well as existing market players to help them establish a strong presence in the market and accentuate market shares. The report concludes with the profiles of major players in the global surgical equipment market such as Ethicon, Inc., Covidien plc, B. Braun Melsungen AG, ERBE Elektromedizin GmbH, CONMED Corporation, KLS Martin LP, Integra LifeSciences Holdings Corporation, Medicon eG, Stryker Corporation, Aspen Surgical Products, Inc. and CareFusion Corporation. These players actively participate in the research and development, manufacturing and commercialization of various surgical equipment such as surgical sutures and staples, surgical handheld instruments and electrosurgical devices. Company overview, financial overview, product portfolio, business strategies and recent developments are some major heads that have been extensively covered in the company profile for each player in the report on global surgical equipment market.
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
- Electrosurgical Devices
Surgical Equipment Market, by Geography
- North America
- Rest of the World (RoW)