The Global Surgical Equipment Market size is expected to reach $16.9 billion by 2024, rising at a market growth of 7.3% CAGR during the forecast period.
Growing cases of road accidents would be a major factor influencing the market growth. According to Association for Safe International Road Travel, nearly 2.35 million people are injured every year due to road accidents. The introduction of electrosurgical instruments has contributed to the growth of surgical instruments market, which would drive the market during the forecast period. Surgical equipment are medical devices which are used in cutting, coagulating, desiccating, and fulgurating the body tissues in a surgical procedure. Additionally, growing trend for minimally invasive surgeries such as electrosurgery adds the market growth. Wound injury management is also commonly conducted with surgical sutures in cases of accidents. Thus, the demand for surgical equipment is expected to grow during the forecast period.
Based on Application, the market is segmented into Neurosurgery, Plastic & Reconstructive Surgeries, Laparoscopy, Wound Closure, Urology, Obstetrics & Gynecology, Thoracic Surgery, Microvascular Surgery, Cardiovascular Surgery, Orthopedic Surgery, and Other Applications. Based on Product, the market is segmented into Surgical Sutures & Staples, Electrosurgical Devices, and Surgical Handheld Equipment. Based on Category, the market is segmented into Reusable Surgical Equipment, and Disposable Surgical Equipment. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ethicon Endo-Surgery Inc., Zimmer Biomet Holdings Inc., Braun Melsungen AG, Becton, Dickinson and Company, Smith & Nephew Plc., Aspen Surgical Products Inc., Stryker Corporation, Medtronic Plc., Alcon Laboratories Inc., and Cook Medical Incorporated.