REPORT HIGHLIGHT
General Surgical Devices Market size was valued at USD 15,231.3 Million in 2022, expanding at a CAGR of 7.2% from 2023 to 2030.
General surgical devices are medical instruments that surgeons employ to carry out a variety of activities during surgical procedures, including cutting, dissecting, suturing, and manipulating tissues. While minimizing trauma and maximizing patient safety, these tools are made to permit precise and controlled surgical procedures.
General Surgical Devices Market- Market Dynamics:
Growing prevalence of chronic disorders, rise in healthcare costs is expected to propel the General Surgical Devices demand.
The rise in chronic diseases, the adoption of minimally invasive technology, and rising healthcare costs are boosting the demand for surgical devices. For instance, according to the article "Trauma of Major Surgery" published in the National Centre for Biotechnology Information (NCBI) in 2021, over 300 million major surgeries are carried out year across the world. Healthcare in poor nations is changing quickly. These nations' expanding populations will probably result in higher demand for medical equipment. Nearly two thirds of the increase in spending was caused by the rising cost of illnesses and cutting-edge medical procedures. During the forecast period, healthcare spending is anticipated to rise in nations like China and India. Further, rising investment in healthcare infrastructure post COVID-19 pandemic is also expected to foster the market growth.
General Surgical Devices Market- Key Insights:
- As per the analysis shared by our research analyst, the global General Surgical Devices market is estimated to grow annually at a CAGR of around 7.2% over the forecast period (2023-2030)
- The General Surgical Devices industry is projected to grow at a significant rate due to the growing focus on animal health and nutrition.
- Based on Application, cardiology segment was predicted to show maximum market share in the year 2022.
- Based on End User, hospital & clinics segment is expected to hold significant market share by 2030.
- Based on Product segmentation, handheld devices segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
General Surgical Devices Market- Segmentation Analysis:
The Global General Surgical Devices Market is segmented on the basis of Product, Application, End User, and Region.
The market is divided into six categories based on Product: handheld devices, laparoscopic devices, electro surgical devices, wound closure devices, trocars & access devices, and others. The handheld devices segment dominates the market. The easy combability and integrated tools in hospital surgeries is contributing to market growth.
The market is divided into five categories based on Application: Gynecology, cardiology, orthopedic, neurology, and others. The cardiology segment dominates the market. Growing injuries prone to cardiac failure which is influencing the market growth.
The market is divided into three categories based on End User: hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment dominates the market. The rising utilization of surgical devices at hospital level is increasing the segment growth.
General Surgical Devices Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
General Surgical Devices Market- Competitive Landscape:
Owing to the rapid development at hospitals infrastructure, which influence the general surgical devices market. Several distribution channels, including corporate websites, and applications, are used by businesses to sell their solutions & products. Product providers compete on various factors, such as technology, product creation, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and grow their market share include new product launches, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In September 2021, Olympus launched its new product called POWER SEAL advanced bipolar surgical energy devices to bolster its surgical devices portfolio.
Key features of the study:
- This proposed research study on General Surgical Devices market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the General Surgical Devices market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for General Surgical Devices market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the General Surgical Devices market
- Impact of COVID-19 on General Surgical Devices market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on General Surgical Devices market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the General Surgical Devices market, we have also included competitive landscape and key innovator analysis for the General Surgical Devices market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial in Product and strategic initiatives of players operating in the General Surgical Devices market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global General Surgical Devices market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL GENERAL SURGICAL DEVICES MARKET KEY PLAYERS
- Medtronic Plc
- Johnson & Johnson
- Conmed Corporation
- Integra LifeSciences
- Smith & Nephew
- Becton, Dickinson and Company
- B. Braun Melsungen AG
- Cadence Inc
- Integer Holdings Corporation
- Olympus Corporation
- Stryker
- Boston Scientific Corporation
- Erbe Elektromedizin Gmbh
- 3M Healthcare
GLOBAL GENERAL SURGICAL DEVICES MARKET, BY PRODUCT
- Handheld devices
- Laparoscopic devices
- Electro surgical devices
- Wound closure devices
- Trocars & access devices
- Others
GLOBAL GENERAL SURGICAL DEVICES MARKET, BY APPLICATION
- Gynecology
- Cardiology
- Orthopedic
- Neurology
- Others
GLOBAL GENERAL SURGICAL DEVICES MARKET, BY END USER
- Hospital & clinics
- Ambulatory surgical centers
- Others
GLOBAL GENERAL SURGICAL DEVICES MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA