|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The general surgical devices market is expected to register a CAGR of nearly 6.5% during the forecast period.
The pandemic has had ramifications on the ways of working in various surgical procedures. There are strict guidelines specific to each specialty that has to be implemented and followed by all surgeons to be able to provide safe and effective care to their patients during the COVID-19 pandemic. The volume of the surgeries has significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. According to the article published in the National Institute of Health in October 2021, titled " The impact of COVID-19 on emergency general surgery admissions and operative volumes: A single-center experience," there has been a 42.8% decline in general surgery admission across the globe. Thus the general surgical devices market has been significantly impacted by COVID-19.
The key factor propelling the growth of the market include the rising use of minimally invasive devices, rising chronic diseases, and increasing healthcare expenditure. For instance, according to the World Health Organization (WHO) 2021 fact sheet, Non-communicable diseases (NCDs), also known as chronic diseases, are responsible for the death of about 41 million people each year, which was about 71% of the total deaths recorded all over the world. Further, as per the same source, every year, over 15 million people aged between 30-69 years die due to NCDs across the globe. As a result of the high burden of mortality due to NCDs, the demand for treatment procedures is rising, and because minimally invasive procedures offer more benefits than traditional procedures, they are gaining traction over others, and the market under consideration is expected to grow over the forecast period. Additionally, according to the United States Bureau of Labor Statistics, in 2019, on average, more than 23% of the United States population engages in sports and physical activity every day. According to a report by Weinstein Legal, published in March 2020, nearly 30 million children and adolescents participate in youth sports in the country each year. This can lead to surgery emergencies leading to a demand general surgery devices market.
Healthcare in developing countries is undergoing rapid changes. The growing population in these countries is likely to lead to increased demand for medical devices. The growing burden of diseases and innovative medical treatments contributed to nearly two-thirds of the rise in spending. Spending on healthcare in countries such as China and India is expected to increase during the forecast period. According to a report by the World Economic Forum, it is estimated that one-third of all global health expenditure will be accounted for by emerging economies by 2022. Certain investments in the healthcare sector offer attractive long-term financial benefits. Medical care is one such area in which individuals tend to increase spending as incomes grow.
Scope of the Report
Surgical devices serve a specific purpose during surgery. Typically, surgical devices have generic use, while some specific tools are designed for specific procedures or surgeries. The scope of the report covers several market aspects of surgical devices in relation to products, applications, and geography. The General Surgical Devices Market is segmented by Product (Handheld Devices, Laparoscopic Devices, Electro Surgical Devices, Wound Closure Devices, Trocars, and Access Devices, and Other Products), Application (Gynecology and Urology, Cardiology, Orthopaedic, Neurology, Other Applications) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
|Electro Surgical Devices|
|Wound Closure Devices|
|Trocars and Access Devices|
|Gynecology and Urology|
Key Market Trends
Handheld Device is Expected to Dominate the General Surgical Devices Market
Handheld surgical devices are becoming increasingly advanced. The development of advanced devices, like robotic handheld surgical devices for laparoscopic interventions, enhances a surgeon’s dexterity. Many innovations have been made due to the need for high reliability, accuracy, and patient safety. The handheld surgical instruments segment accounted for the largest share of the surgical device market.
Needle holders are very similar in shape to hemostats, featuring jaws and handles. Needle holders allow the needle to be locked into place for suturing in a variety of tissue types. Surgical operations demand surgeons to frequently engage in hand-intensive activities, including suturing. The market is growing due to the rise in minimally invasive surgical procedures and an increase in outpatient surgeries.
Moreover, the key player focused on strategic partnerships, mergers, and acquisitions to launch innovative and technologically advanced products to fuel the market demand. For instance. in November 2021, Orthalign launched Lantern, the latest handheld smart tool for knee replacement surgery.
The market is further expected to grow, and the prices are expected to fall due to the entry of many new players in the market.
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North America Dominates the Market and is Expected to Remain the Same During the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. In the North American region, the United States holds the largest market share, and this is due to better regulations of surgical devices and growing awareness among the population to approach such procedures in case of injuries and chronic disease problems. According to the National Safety Council (NSC), in 2019, 526,000 injuries were reported due to personal exercise, 500,000 players were injured due to basketball, 457000 due to bicycling, and 341,000 due to football. NSC also reported that 199,000 swimming injuries were treated in the emergency room in 2019. Spine, shoulder, head, and knee injuries accounted for more than 50% of these total injuries.
Moreover, as per the same source, the death rate in 2020 was 61.0 per 100,000 population – a 15.7% increase from 2019 and a 79% increase over 1992. Thus, increasing the number of injuries that required medical attention thereby boosts the market studied.
However, key activities by the market players such as mergers and acquisitions, partnerships, and product launch heps to propel the market growth in the region. For instance, in September 2021, Ethicon, part of Johnson & Johnson Medical Devices Companies, launched ECHELON ENDOPATH Staple Line Reinforcement (SLR), a novel buttressing device designed to further strengthen staple lines and reduce potential complications during bariatric, thoracic and general surgical procedures.
Thus, all the aforementioned factors, such as rising in injury cases coupled with the product launch, boost the market in the region.
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The general surgical devices market is exceptionally fragmented and focused because of the presence of many large, medium, and small players. Some of the major players in the market are B. Braun Melsungen AG, Boston Scientific Corporation, Cadence Inc., Conmed Corporation, and Johnson & Johnson are among others.
- In September 2021, Olympus has launched of POWERSEAL advanced bipolar surgical energy devices to strengthens surgical portfolio.
- In February 2021, New Delhi-based SS Innovations announced that it will commercially launch India's first general robotic surgery system within the next 4-6 months.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Minimally Invasive Devices
4.2.2 Growing Cases of Injuries and Accidents
4.2.3 Increasing Healthcare Expenditures in Emerging Economies
4.3 Market Restraints
4.3.1 Stringent Government Regulations
4.3.2 Improper Reimbursement for Surgical Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Product
5.1.1 Handheld Devices
5.1.2 Laproscopic Devices
5.1.3 Electro Surgical Devices
5.1.4 Wound Closure Devices
5.1.5 Trocars and Access Devices
5.1.6 Other Products
5.2 By Application
5.2.1 Gynecology and Urology
5.2.5 Other Applications
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Boston Scientific Corporation
6.1.3 Cadence Inc.
6.1.4 Conmed Corporation
6.1.5 Integer Holdings Corporation
6.1.6 Johnson & Johnson
6.1.7 Maquet Holding BV & Co. KG
6.1.8 Medtronic PLC
6.1.9 Olympus Corporations
6.1.10 Stryker Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The General Surgical Devices Market market is studied from 2019 - 2027.
What is the growth rate of General Surgical Devices Market?
The General Surgical Devices Market is growing at a CAGR of 6.5% over the next 5 years.
Which region has highest growth rate in General Surgical Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in General Surgical Devices Market?
North America holds highest share in 2021.
Who are the key players in General Surgical Devices Market?
B. Braun Melsungen AG, Boston Scientific Corporation, Cadence Inc., Conmed Corporation, Johnson & Johnson are the major companies operating in General Surgical Devices Market.