The global Surgical Instruments Market is expected to reach USD 38.13 Billion in 2030 and register a revenue CAGR of 8.0% during the forecast period, according to the latest report published by Reports and Data. Key factors driving global surgical instruments market revenue growth include increasing prevalence of various chronic diseases such as cardiovascular diseases, cancer, neurological disorders, rising number of accidents and trauma emergencies, and improving healthcare facilities and infrastructure across the globe.
Surgical instruments are tools or devices used by skilled healthcare professionals for performing various tasks during surgical processes. These instruments are used for holding, cutting, retracting, clamping, or dilating biological tissue. Various surgical instruments are available for general surgery as well as for carrying out complex surgical procedures. Sutures, staplers, forces spatulas, retractors, dilators, graspers are some of the commonly used instruments in hospitals and clinics. Factors such as increasing number of hospitals, clinics, ambulatory care centers across the globe, rising demand for minimally invasive surgical processes, and increasing adoption of robotic surgeries are expected to continue to drive market revenue growth during the forecast period. In addition, increasing healthcare expenditure, and increasing focus on developing compact, advanced, and cost-effective surgical instruments are expected to fuel market growth going ahead.
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Some key highlights of the report:
- Based on application, the plastic reconstruction surgeries segment is expected to register rapid revenue growth during the forecast period. This can be attributed to increasing cases of road accidents, rising focus on personal appearance and esthetics, increasing disposable income in developing countries, increasing number of surgeries such as chin and breast augmentation, breast reduction, and rising demand for advanced surgical instruments.
- Based on category, the reusable segment is expected to register fastest revenue CAGR during the forecast period owing to factors such as increasing prevalence of chronic illnesses and accidents, and high demand for advanced surgical instruments to cater to rising number of complex surgeries. In addition, availability of various instruments of plastics and polymers with better retention properties that can withstand heat and radiation for effective sterilization is expected to drive revenue growth of the segment during the forecast period.
- Europe is expected to register steady revenue growth between 2021 and 2028 owing to factors such as rising prevalence of chronic diseases, trauma injuries, presence of well-developed healthcare infrastructure, and high preference for minimally invasive surgery instruments. In addition, increasing investments in research and development activities, and rapid advancements in surgical devices and instruments are expected to fuel market growth during the forecast period.
- Asia Pacific market revenue is expected to expand at a CAGR of 8.2% during the forecast period. This can be attributed to rising cases of chronic illnesses, increasing number of road accidents, and surgeries, rising healthcare spending, and increasing demand for latest surgical instruments and devices. In addition, increasing investments in research and development activities to develop advanced and affordable surgical instruments is expected to fuel market growth in Asia Pacific during the forecast period.
The surgical instrument market is segmented into product, application, and region. Based on product, the market is segmented into handheld instruments, powered instruments, and electrosurgical instruments. Handheld instruments are the most commonly used surgical instruments and include scissors, forceps, and retractors. Powered instruments are used for cutting, drilling, and grinding during surgical procedures and include drills, saws, and power scalpels. Electrosurgical instruments are used for tissue dissection and coagulation and include electrosurgical generators and monopolar electrodes.
Some of the key players in the surgical instrument market are:
Smith+Nephew, Zimmer Biomet, B. Braun Melsungen AG, Stryker, Dextera Surgical Inc., Aspen Surgical., Alcon, BD, Medtronic, and Boston Scientific Corporation.
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Surgical Sutures Staplers
- Handheld Surgical Devices
- Forces Spatulas
- Auxiliary Instrument
- Cutter Instrument
- Electrosurgical Devices
Application Outlook (Revenue, USD Billion; 2019–2030)
- Obstetrics Gynecology
- Wound Closure
- Plastic Reconstructive Surgery
Category Outlook (Revenue, USD Billion; 2019–2030)
Key Regional Markets Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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