PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408895
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408895
Disposable Surgical Devices Market size was valued at USD 5,400 Million in 2022, expanding at a CAGR of 9.1% from 2023 to 2030.
Disposable surgical devices are medical instruments and equipment that are specifically designed to be used only once during surgical procedures and then discarded. These devices play a crucial role in preventing the transmission of infections between patients and maintaining a sterile environment in the operating room. The utilization of disposable surgical devices has now become a standard practice in modern healthcare facilities due to their numerous advantages, including convenience, safety, and cost-effectiveness. By embracing the use of disposable surgical tools, hospitals can effectively eliminate the risks associated with reusing instruments on multiple patients, while also avoiding the logistical challenges and expenses associated with sterilization between surgeries. Furthermore, healthcare professionals can have complete confidence in the sterility of these devices as they are brand new, and the materials used in their construction need not be excessively expensive since they are not intended for multiple uses.
Neurological disorders, including epilepsy, Parkinson's disease, and brain tumors, frequently necessitate surgical interventions for diagnosis and treatment. The utilization of disposable surgical devices specifically designed for neurological procedures can significantly contribute to the management and surgical treatment of these conditions, thereby driving market growth. According to the World Health Organization, Neurological conditions account for the age-standardized death rate is 32.9 per 100,000 population, with 33.1 deaths per 100,000 population in men and 32.2 deaths per 100,000 population in women. Additionally, disposable surgical devices play a vital role in maintaining a sterile environment during cardiovascular procedures, which supports the market's growth. The rapid growth of the US cardiac surgery market is driven by the increasing number of underlying procedures due to the rising prevalence of chronic diseases. Furthermore, ongoing technological advancements in surgical devices, such as the development of minimally invasive techniques, present opportunities for the introduction of more advanced and specialized disposable devices. However, it is important to note that environmental concerns may have an impact on the market's growth.
Geographically, the Disposable Surgical Devices Market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The North American market is expected to dominate the growth of the market, primarily due to an increase in the number of surgical procedures resulting from accidents, burns, and trauma cases. North America witnesses a significant volume of surgical procedures, driven by factors such as an aging population, lifestyle-related health issues, and a proactive approach to healthcare. The United States lacked a structure, procedures, or processes to deal with a dramatic decrease in surgical operation volume. According to US healthcare technology, there had been a 48.0% decrease in overall surgical procedure volume shortly after the March 2020 suggestion to postpone elective operations. Still, surgical volume returned to 2019 rates across all surgical specialties excluding otolaryngology, a rate maintained during the COVID-19 peak surge in autumn and winter. Europe holds the second-largest market during the forecast period, attributed to the rising incidence of chronic diseases such as cardiovascular and neurological disorders, cancer, diabetes, and autoimmune diseases.
The competitive landscape of the Disposable Surgical Devices market is characterized by the rivalry among companies that produce and supply a wide range of single-use instruments and tools used in surgical procedures. These companies strive to outperform each other by investing in innovation and the development of new products. The competitiveness of disposable surgical devices is enhanced by advancements in materials, design, and functionality. Companies with a strong global presence and well-established distribution networks have a competitive advantage. The ability to efficiently supply disposable surgical devices to healthcare facilities worldwide plays a crucial role in gaining market share. As an illustration, on 21 July 2022, B. Braun Thailand, a leading manufacturer and distributor of medical devices, inaugurated the B. Braun Technical Service Center to provide top-notch repair and maintenance services for medical equipment.
On September 21, 2023, Medtronic plc, a renowned healthcare technology company, revealed that its latest innovation, the Simplera continuous glucose monitor (CGM), has received the CE (Conformite Europeenne) Mark approval. This all-in-one, disposable CGM boasts a user-friendly, two-step insertion process, eliminating the need for fingerstick tests and additional tape. Moreover, it seamlessly integrates with the InPen smart insulin pen, offering personalized dosing guidance in real-time to streamline diabetes management.
The scope of this report covers the market by its major segments, which include as follows: