Market Size of Germany General Surgical Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany General Surgical Devices Market Analysis
The German general surgical devices market is expected to register a CAGR of 6.2% over the forecast period.
The healthcare system has witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the early COVID-19 pandemic to reduce the risk of viral transmission, as most chronic therapies were regarded as non-urgent. An article published by PubMed in January 2021 indicated that there was an 8.8% decrease in patient admission for lung cancer-related surgeries and 14.7% for malignant brain tumor-related surgeries during the early pandemic in Germany. The reduction in the number of surgeries in the nation significantly affected the market growth. However, as the pandemic has subsided currently, surgeries are taking place normally; hence the studied market is expected to have stable growth during the forecast period of the study.
The increase in the number of road accidents and the growing demand for minimally invasive devices, along with the increased spending on healthcare, are major factors contributing to the growth of the studied market in the nation over the forecast period.
According to the Federal Statistics Office of Germany, data on traffic accidents in Germany released in August 2022, over 2,314,938 accidents were recorded in Germany in the year 2021, with around 325,691 persons injured in the accidents. With the rising accidents, the number of people injured and seeking surgery has also risen significantly. This is augmenting the demand for general surgical devices in the country.
The medical device industry of Germany is the largest in Europe, and it has got a considerable place in the global medical device industry. Due to the consistent growth of the German medical devices market and the sophisticated healthcare system, there is a good opportunity for companies to invest in this market. In Germany, the demand for highly innovative technologies and diagnostic, therapeutic, and minimally invasive equipment is more which is augmenting the growth of the general surgical devices market.
The product innovations by the key players in the region are likely to add to the market growth. For instance, in June 2022, NGMedical GmbH, a Germany-based medical device manufacturer, launched its new ART Fixation System in Europe. The ART Fixation System aids the surgeon with a fixation system to perform dorsal spinal stabilizations simply, quickly, and effectively. Such product innovations in medical devices are expected to boost the growth of the studied market over the forecast period.
Added to that, financial development in Germany, expanding attention to wellbeing-related issues, and rising interest in outpatient surgery are some of the other factors propelling the market growth. However, stringent regulations and improper reimbursement for surgical devices are expected to slow down the growth of the market over the forecast period.
