Leading Manufacturers Campaigning to Promote New Surgical Equipment: A Driving Factor for Global Surgical Equipment Market

Surgical equipment is utilized for various functions during surgical procedures including making incisions, grasping certain tissues, holding tissues and organs back, and closing wounds. Electrosurgical devices, surgical handheld devices, and sutures and staples are some of the commonly used surgical equipment in surgery rooms. Technological advancements in the medical devices market, the rapidly increasing elderly population, the rise in the number of surgical procedures, and the increasing demand for minimally invasive procedures are some of the factors expected to propel the global surgical equipment market in the years to come. 

However, in a sector defined by ample growth opportunities, competition naturally remains high. This has prompted manufacturers of surgical equipment to adopt aggressive marketing and promotion campaigns to gain new customers. 

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This is helped by the fact that many hospitals are also focusing on adding more centers and operating rooms where surgeries can be performed with new surgical equipment. For instance, at the Andover-based Lawrence General Hospital, seven new operating rooms are expected to be inaugurated by August 2016. These operating rooms are expected to have more space and will occupy new surgical equipment. As hospitals are increasingly focused on delivering world-class services, more such investments are expected to be seen.

Surgical Sutures and Staples Segment to Drive Global Surgical Equipment Market

The availability of a variety of surgical devices is expected to propel the global surgical equipment market in the years to come. The global surgical equipment market was valued at US$8.43 bn in 2012 and is expected to reach US$11.28 bn by 2019, predicted to progress at a 4.20% CAGR from 2013 to 2019 owing to the increasing preference for minimally invasive surgeries.  

The global surgical equipment market is segmented on the basis of geography and product type. By product type, the global surgical equipment market is classified into electrosurgical devices, surgical handheld instruments, and surgical sutures and staples. In 2012, the surgical sutures and staples segment accounted for a dominant share of 55% in the global surgical equipment market. However, the demand for electrosurgical devices is expected to increase in the years to come. 

North America to be Dominant Region in Global Surgical Equipment Market

By geography, the global surgical equipment market is divided into Europe, North America, Latin America, Asia Pacific, and Rest of the World. Currently, the global surgical equipment market is led by North America, followed by Europe. Going forward, Europe and North America are predicted to maintain their dominance due to the rising demand for surgical equipment. The rising public investments in the healthcare sector are expected to propel the Asia Pacific surgical equipment market in the years to come. 

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Factors such as the high cost of surgical equipment, side effects of certain surgical devices, and the implementation of the Patient Protection and Affordable Care Act (PPACA) in the U.S. are predicted to restrict the growth of the global surgical equipment market. Leading players will find growth in emerging economies in Eastern European countries to increase their contribution in the global surgical equipment market. Some of the leading players operating in the global surgical equipment market are Ethicon, Inc., B. Braun Melsungen AG, CONMED Corporation, Integra LifeSciences Holdings Corporation, Stryker Corporation, and CareFusion Corporation. 

Global Surgical Equipment Market to Amplify with Burgeoning Demand for Minimally-Invasive Procedures

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:

1. Surgical Sutures and Staples

2. Surgical Handheld Instruments

3. Electrosurgical Devices

During surgical procedures, surgical equipment such as sutures, staples, scalpels, forceps, retractors, scissors, and electrosurgical devices and are used for a variety of purposes 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 includes sutures and staples, surgical handheld instruments (scalpels, forceps, retractors and scissors), and electrosurgical devices.

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The global surgical equipment market was estimated at US$8.43 billion in 2012 and is predicted to grow at a CAGR of 4.2% between 2013 and 2019, to reach an estimated value of US$ 11.28 billion by 2019.

Electrosurgical Devices Segment to Represent Highest Growth

The global market for surgical equipment, based on product, has been segmented into three major types, namely, surgical sutures and staples, surgical handheld instruments, and electrosurgical devices. Among these, the surgical sutures and staples market has been additionally segmented into surgical staples and surgical sutures; while the market for surgical handheld instruments has been segmented into forceps, scalpels, retractors and scissors.

The surgical sutures and staples segment constituted the largest share (55.6%) of the overall surgical equipment market revenue in 2012. However, in the forecasting horizon 2013 to 2019, due to sluggish growth rate, it is expected to lose a part of its share. Nonetheless, the electrosurgical devices market segment is predicted to depict the highest growth, with 6.1% CAGR, because of the increasing demand for minimally-invasive procedures that comprehensively use these devices. Electrosurgical devices include instruments, radiofrequency generators, and other accessories, which are utilized in the course of numerous surgical procedures to cauterize, cut, coagulate tissues and luminal structures by utilizing high frequency electric current.

Minimally Invasive Procedures are in Demand. What Does this Mean for the Surgical Equipment Market?

Owing to advantages such as precise incision, negligible blood loss, decreased post-surgery complications and side effects, quicker recovery span and shorter period of hospital stay; minimally invasive procedures are encountering more demand over almost every medical specialty. Augmented demand for minimally-invasive procedures is prone to trigger market development for electrosurgical devices. Few other factors anticipated to drive market development are continuous addition to surgical procedure numbers, exponential expansion of the elderly population, and technological advances in the zone of product development. 

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