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Standstill in Surgical Activities Affects Market Growth During COVID-19 Pandemic

The global society witnessing an unprecedented period of the coronavirus pandemic. The practice of surgery across the globe is witnessing a slowdown in activities. This is predicted to affect growth of the surgical kits market. As such, stakeholders in the value chain are increasing awareness about the new protocols and practices to combat the transmission of COVID-19 during critical surgeries.

Although surgeons are not frontline healthcare workers, several series of infections emerged from operating theaters in China. Hence, companies in the surgical kits market are increasing awareness about proper hygiene, disinfection, and sanitization of surgical instruments before its utilization. Patients with respiratory symptoms are being assigned private rooms to prevent the transmission of coronavirus among surgeons and healthcare providers.

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Reusable versus Disposable Surgical Instruments: Which is Better?

The COVID-19 pandemic has brought clinicians under the scrutiny of healthcare organizations for establishing infection control. This has led to the avoidance of reusable surgical instruments in operating theaters. As such, companies in the surgical kits market are benefitting with a surge in the use of disposable surgical instruments. However, healthcare systems are challenged with high environmental costs for waste disposal.

Storage of disposable surgical instruments is relatively easy as compared to reusable surgical instruments, since the latter needs to be reprocessed with repair, rework, and equipment chemicals. Such hurdles are influencing the expansion of the surgical kits market. As such, upfront costs of disposable surgical instruments is high as compared to the utilization of reusable surgical instruments.

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High Precision Implant with Digital Dentistry Kit Boosting Market Growth

The surgical kits market is projected to reach the valuation of US$ 40 Bn by 2031. Companies are unlocking growth opportunities in dentistry to introduce digital revolution. For instance, DIO Implant - an implant services provider is gaining recognition for its DIOnavi surgical kit, which supports the basics of digital implant dentistry. Such innovations are boosting growth for the surgical kits market.

The digital implant dentistry is equipped with a functional drill and tool, which helps in additional convenience and efficiency. This technique of dentistry is being associated with accuracy in implant placement. The digital implant dentistry helps to solve concerns over bone heating.

Customized Graphic Trays, Feelers, Holders Create Business Opportunities

Companies in the surgical kits market are increasing the availability of sterilization trays as required by customers. Gesco Healthcare - a manufacturer of world class surgical implants & instruments, is broadening its product portfolio in sterilization trays, ROD grippers & holders, and bone probes. This explains why the surgical kits market is projected to advance at a favorable CAGR of ~7% during the forecast period.

Manufacturers are increasing their production capabilities in TLIF/PLIF instruments and customized graphic trays. Ball tip probes, feeler, and markers are creating revenue opportunities for companies. Modern designs in ROD reducers, silicon handles, and contractors are grabbing the attention of healthcare providers.

Drop-safe Surgical Kits Transforming Surgical Landscape

Improving safety, efficiency, and business performance at operating theaters have become a priority for companies in the surgical kits market. Operating Room Innovations is gaining popularity for DropStop® Securing Kit, which is a cost efficient and sterile solution for ensuring the safety and hold of surgical tools, and prevents sterile items from falling outside of the sterile field.

Drop-safe surgical kits are being highly publicized for their cost reduction, optimization of workflow, and customization of operating rooms. Companies in the surgical kits market are increasing their R&D to draw design innovations in drop-safe surgical kits that prevent unplanned drops of expensive sterile surgical devices. These kits ensure the safety of frequently used surgical tools within reach, allowing the surgical team to focus on the patient and procedure.

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Analysts’ Viewpoint

Concerns regarding COVID-19 infection control have led to a spike in the use of disposable surgical instruments. Disposable surgical instruments have relatively more advantages than reusable surgical instruments. However, their upfront cost prevents its adoption in healthcare systems of underdeveloped and developing economies who are budget-strapped. Hence, companies in the surgical kits market are creating awareness about long-term investment in drop-safe surgical kits that offset the high cost of disposable surgical instruments. Drop-safe surgical kits help to prevent burns, costly delays, and potential infections by avoiding unplanned drop of expensive surgical instruments. Digital dentistry kits are being associated with increased accuracy and stability while drilling.

Surgical Kits Market: Overview

  • According to Transparency Market Research’s latest report on the global surgical kits market for the historical period 20172019 and forecast period 20212031, rapid expansion of the life sciences industry is anticipated to drive the global surgical kits market
  • According to the report, the global surgical kits market was valued at ~US$ 17 Bn in 2020 and is expected to contract at a CAGR of ~7% from 2021 to 2031
  • Surgical kits include surgical tools that are used in surgery such as drapes, blood donor kits, and gowns. Disposable surgical kits are cost-effective, help to eliminate instrument cleaning and recycling, and reduce infection associated with surgery.
  • Surgical kits were confined only to IV bags, blood bags, swabs, and others in the past. Increase in demand for cost-effectiveness and efficiency has led to rise in focus on the usage of single-use and disposable products. Technological developments have also paved the way for high quality and highly efficient surgical kits.

Increase in Number of Cataract Surgeries and Related Procedures Propels Surgical Kits Market

  • According to the World Health Organization (WHO) research findings in 2019, the number of visually impaired people in all age groups stood at 285 million, of these 39 million people were blind, with 82% people aged 50 years and older. The leading causes of visual impairment are uncorrected refractive errors (43%) and cataract (33%); cataract is the key cause of blindness (51%). However, this percentage varies substantially from country to country. For instance, cataract can lead to blindness among minority groups in developing regions such as Asia, the Caribbean, and sub-Saharan Africa.
  • Cataract blindness has become completely avoidable with a few exceptions, due to technological advancements in surgeries. Surgical intervention can completely restore visual impairment. In several developed and developing countries, cataract and related surgeries are most commonly performed surgical procedures, as these offer substantial improvement in the quality of life of patients of all age groups. Moreover, the demand for cataract surgery has been rising due to rise in life expectancy and increase in the geriatric population.

Developing Countries to Offer Opportunities for Sustained Growth

  • Major manufacturers of surgical kits and packs are shifting focus toward gaining a foothold in developing countries such as China, India, South Africa, Brazil, and Mexico in order to expand their business
  • Robust base of local manufacturing facilities and rapidly developing healthcare infrastructure in developing countries have encouraged global players to adopt various cost-effective strategies in order to gain a foothold in the markets
  • Additionally, government initiatives to offer better healthcare facilities in countries such as Brazil, China, and India and boom in the medical tourism sector in Asia are expected to offer immense opportunities in the surgical kits market in these countries
  • Prominent manufacturers have adopted the strategy of expanding into newer markets, which would gradually reduce the cost of production and transportation
  • For instance, on November 132019, Tata Consultancy Services expanded its partnership with Cardinal Health, a globally integrated healthcare solutions company to transform its IT operating model toward a product-centric IT organization. The novel operating model would embrace TCS’ Enterprise Agile vision and Machine-First Delivery Model (MFDM), and assist Cardinal Health drive business agility and continuous innovation to stay ahead of its competitors. MFDM uses artificial intelligence (AI) technologies to minimize operating risk, drive velocity, and rise productivity to deliver business value.

Environmental Issues Associated with Surgical Kits to Hamper Surgical Kits Market

  • Majority of surgical kits are made of polyester and polypropylene. Most of the surgical kits are made of plastic with chemical modification. Hence, these are a major threat to the environment.
  • Major environmental risks associated with plastic materials are disposal and pollution. There are a number of methods to dispose such as recycling, landfills, incineration, and biodegrading.
  • Landfilling of surgical kits needs area that is isolated from the rest of the population. This method not only degrades the quality, texture, and fertility of soil, but also microorganisms present in it, which, in turn, affects the Meta ecology of the system.
  • Incineration of surgical kits causes air pollution, as gases released such as carbon monoxide, carbon dioxide, nitrous oxide, sulfur dioxide cause greenhouse effect, which increases the temperature of the atmosphere. Moreover, release of these gases depletes the ozone layer, creating a hole in the atmosphere, which leads to UV rays reaching the earth’s surface.

Surgical Kits Market: Competition Landscape

  • This report profiles major players operating in the global surgical kits market based on various attributes and recent developments
  • The global surgical kits market is highly fragmented with the presence of numerous global as well as regional players
  • Leading players operating in the global surgical kits market include
    • Kimberly-Clark Corporation
    • Medline Industries, Inc.
    • Cardinal Health
    • Paul Hartmann AG
    • Mölnlycke Health Care AB
    • Hogy Medical
    • 3M
    • OneMed
    • Stradis Healthcare
    • Zimmer Biomet

Surgical Kits Market: Key Developments

  • Key players in the global surgical kits market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are aimed at addressing unmet needs in the surgical kits market, strengthening the product portfolio, and investing in research & development. A few expansion strategies adopted by players operating in the global surgical kits market are:
    • On October 32019, 3M completed the acquisition of Acelity, Inc. and its KCI subsidiaries globally from a consortium comprised of funds advised by Apax Partners (the Apax Funds), together with controlled affiliates of the Canada Pension Plan Investment Board (CPPIB), and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of ~US$ 6.7 Bn, including assumption of debt and other adjustments
    • On August 52019, Paul Hartmann AG acquired Safran Coating. The silicone coating specialist joins the company’s wound management business segment to better serve patients by expanding its offering in advanced wound care. Safran Coating is one of the top technology leaders having a solid brand portfolio in silicone coating for healthcare. The company is based in Pusignan, France, and delivers products to wound care manufacturers globally. The company continuously invests in silicon technology research to assist the expansion of innovative wound care solutions and to enhance patient quality of life.
  • The report on the global surgical kits market discussed individual strategies, followed by company profiles of manufacturers of surgical kits. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global surgical kits market.

Surgical Kits Market – Scope of the Report

TMR’s report on the global surgical kits market studies the past as well as the current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2021 to 2031. The report provides revenue of the global surgical kits market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global surgical kits market from 2021 to 2031.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the surgical kits market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the surgical kits market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global surgical kits market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global surgical kits market.

The report delves into the competition landscape of the global surgical kits market. Key players operating in the global surgical kits market are identified and each one of these is profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global surgical kits market profiled in this report.

Key Questions Answered in Surgical Kits Market Report

  • What is the sales/revenue generated by surgical kits across all regions during the forecast period?
  • What are the opportunities in the global surgical kits market?
  • What are the major drivers, restraints, opportunities, and threats in the market?
  • Which regional market is set to expand at the fastest CAGR during the forecast period?
  • Which drug class segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  • What are the market positions of different companies operating in the global market?

Surgical Kits Market – Research Objectives and Research Approach

The comprehensive report on the global surgical kits market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global surgical kits market in terms of type, procedure, end user, and region. Key segments under each criterion are studied at length, and the market share for each of these at the end of 2031 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global surgical kits market.

Surgical Kits Market – Segmentation

TMR’s study on the global surgical kits market includes information divided into four segments: type, procedure, end user, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global surgical kits market are discussed in detail.

Type
  • Disposable
  • Reusable
Procedure
  • Ophthalmology
  • Orthopedic
    • Hip
    • Knee
    • Others
  • Neurosurgery
  • General Surgery
    • Laparoscopy
    • Laparotomy
    • Others
  • Gynecology
  • Urology
  • Ear, Neck & Head
  • Cardiac Surgery
  • Others
End User
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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